Fjord Defence Group ASA Cash Flow Statement

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

Millions NOK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-106.07	-121.81	-82	13.75	122.77	-26.85
Depreciation & Amortization	93.44	102.87	64.99	44.75	95.3	82.06
Loss (Gain) From Sale of Assets	-0.22	8.29	10.14	-6.56	-	-
Asset Writedown & Restructuring Costs	-	-	-	-124.31	-186.27	154.11
Loss (Gain) From Sale of Investments	21.8	20.21	2.55	132.48	-74.04	-
Stock-Based Compensation	-	-	-	-	0.1	0.03
Other Operating Activities	-17.03	-17.11	0.01	-14.71	-30.04	76.16
Change in Accounts Receivable	-	-	-	-	-	105.35
Change in Inventory	-	-	-	-	-	5.79
Change in Accounts Payable	-	-	-	-	-	-251.96
Change in Unearned Revenue	-	-	-	-	-	-194.81
Change in Other Net Operating Assets	-19.53	-2.02	17.52	-34.44	-12.78	211.8
Operating Cash Flow	-27.6	-9.57	13.2	10.96	-84.97	161.68
Operating Cash Flow Growth	-	-	20.51%	-	-	-24.77%
Capital Expenditures	-	-	-	-	-	-0.53
Sale of Property, Plant & Equipment	16.81	-	-	4.93	-	1.75
Cash Acquisitions	-21.41	-	-	-	-	-
Sale (Purchase) of Intangibles	-	-	-	-	-	-90.65
Investment in Securities	4.25	5.51	-	-19.7	-86.9	-
Investing Cash Flow	-0.35	5.51	-	-14.78	-86.9	-89.43
Total Debt Issued	24.31	-	-	-	-	-
Long-Term Debt Repaid	-	-	-	-8.83	-20.86	-14.23
Net Debt Issued (Repaid)	15.31	-	-	-8.83	-20.86	-14.23
Issuance of Common Stock	63.6	-	-	-	209.33	-
Repurchase of Common Stock	-0.24	-4.2	-14.68	-4.57	-	-
Other Financing Activities	-4.74	-2.92	-0.13	-0.58	-33.05	-19.98
Financing Cash Flow	73.92	-7.12	-14.81	-13.98	155.42	-34.21
Miscellaneous Cash Flow Adjustments	0	-	-	-	-	-
Net Cash Flow	45.97	-11.18	-1.61	-17.8	-16.46	38.04
Free Cash Flow	-27.6	-9.57	13.2	10.96	-84.97	161.15
Free Cash Flow Growth	-	-	20.51%	-	-	4.59%
Free Cash Flow Margin	-572.14%	-39.44%	16.30%	-	-39.82%	20.26%
Free Cash Flow Per Share	-1.15	-0.53	0.71	0.56	-7.75	328.75
Cash Interest Paid	0.06	2.93	0.13	0.58	13.98	19.98
Cash Income Tax Paid	0	-	-0.07	-2.6	1.3	18.14
Levered Free Cash Flow	-7.04	7.4	38.2	-88.85	-116.9	-252.38
Unlevered Free Cash Flow	-5.77	8.33	40.02	-88.42	-107.38	-230.98
Change in Working Capital	-19.53	-2.02	17.52	-34.44	-12.78	-123.83

Source: S&P Global Market Intelligence. Standard template. Financial Sources.