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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-142.53	-117.5	-131.53	-82.34	-3.54	124.22
Depreciation & Amortization	83.5	78.26	95.52	65.21	-78.92	126.46
Stock-Based Compensation	-	-	-	-	0.11	0.1
Other Adjustments	16.04	14.12	28.47	12.8	128.15	-323.02
Changes in Other Operating Activities	-6.63	-18.82	-2.02	17.58	-34.94	-12.79
Operating Cash Flow	-49.36	-43.94	-9.55	13.25	10.87	-85.05
Operating Cash Flow Growth	-	-	-	21.91%	-	-
Sale of Property, Plant & Equipment	-	16.81	-	-	4.89	-
Purchases of Investments	-310.52	-	-	-	-19.54	-86.98
Cash Acquisitions	-21.41	-21.41	-	-	-	-
Other Investing Activities	0.33	4.51	5.5	-	-	-
Investing Cash Flow	-331.6	-0.1	5.5	-	-14.66	-86.98
Long-Term Debt Issued	166.34	25	-	-	-	-
Long-Term Debt Repaid	-9	-11.5	-	-	-8.76	-20.24
Net Long-Term Debt Issued (Repaid)	157.34	13.5	-	-	-8.76	-20.24
Issuance of Common Stock	255	230	-	-	-	190.44
Repurchase of Common Stock	3.6	3.6	-4.2	-14.73	-4.53	-
Net Common Stock Issued (Repurchased)	258.6	233.6	-4.2	-14.73	-4.53	190.44
Other Financing Activities	-16.06	-15.62	-2.92	-0.13	-0.58	-14.65
Financing Cash Flow	396.29	231.48	-7.12	-14.86	-13.87	155.56
Net Cash Flow	15.33	187.45	-11.17	-1.62	-17.66	-16.47
Free Cash Flow	-49.36	-43.94	-9.55	13.25	10.87	-85.05
Free Cash Flow Growth	-	-	-	21.91%	-	-
FCF Margin	-54.21%	-74.51%	-22.78%	15.81%	15.32%	-60.98%
Free Cash Flow Per Share	-1.24	-1.47	-0.53	0.72	0.56	-7.76
Levered Free Cash Flow	119.89	-17.83	-21.84	0.51	-108.97	216.3
Unlevered Free Cash Flow	-20.59	-30.4	-22.15	4.66	-103.91	51.42