Cavendish Hydrogen ASA Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-23.34	-26.64	-22.76	-28.89
Depreciation & Amortization	3.75	4.05	4.57	4.69
Asset Writedown & Restructuring Costs	1.22	1.12	0.05	0.05
Loss (Gain) From Sale of Investments	-	-	0.84	2.74
Stock-Based Compensation	0.52	0.52	0.23	-
Other Operating Activities	-1.98	-0.38	-0.52	1.17
Change in Accounts Receivable	-3.38	-3.38	-3.73	10.4
Change in Inventory	5.85	5.85	8.99	-6.35
Change in Accounts Payable	-0.57	-0.57	-2.94	-4.07
Change in Other Net Operating Assets	2.61	1.11	-8.77	1.46
Operating Cash Flow	-15.32	-18.32	-24.03	-18.81
Capital Expenditures	-0.32	-0.42	-1.6	-1.24
Sale of Property, Plant & Equipment	0.13	0.13	0.01	-
Sale (Purchase) of Intangibles	-1.25	-1.95	-6.23	-3.04
Other Investing Activities	-	-	0	-
Investing Cash Flow	-1.44	-2.24	-7.82	-4.28
Long-Term Debt Issued	-	-	2.51	28.36
Long-Term Debt Repaid	-	-0.35	-0.45	-0.51
Net Debt Issued (Repaid)	-0.35	-0.35	2.06	27.85
Issuance of Common Stock	-	-	72.28	-
Other Financing Activities	-0.22	-0.22	-6.97	-0.72
Financing Cash Flow	-0.57	-0.57	67.38	27.13
Foreign Exchange Rate Adjustments	-0.65	-0.45	-0.76	0.33
Net Cash Flow	-18.08	-21.58	34.76	4.36
Free Cash Flow	-15.65	-18.75	-25.63	-20.05
Free Cash Flow Margin	-103.88%	-117.44%	-81.75%	-65.96%
Free Cash Flow Per Share	-0.47	-0.56	-0.76	-0.60
Cash Interest Paid	0.08	0.08	0.11	0.09
Levered Free Cash Flow	-10.39	-10.92	-18.59	-
Unlevered Free Cash Flow	-10.3	-10.84	-18.43	-
Change in Working Capital	4.51	3.01	-6.45	1.44