Norwegian Air Shuttle ASA Cash Flow Statement

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

Millions NOK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	2,708	1,355	1,737	1,006	1,871
Depreciation & Amortization	2,997	2,755	1,890	1,375	1,114
Other Amortization	22	14	12.1	10.7	19.2
Loss (Gain) From Sale of Assets	-21	17	-7.1	-65.5	-269.9
Asset Writedown & Restructuring Costs	1,212	2,038	1,632	-973.4	-
Loss (Gain) From Sale of Investments	-	-	-	-	-49.2
Other Operating Activities	1,294	803	724.7	532.6	-4,643
Change in Inventory	-71	326	-62.8	61.7	2,271
Change in Unearned Revenue	253	657	654	1,224	922.7
Change in Other Net Operating Assets	-554	-1,019	-1,322	-745.2	-1,097
Operating Cash Flow	7,840	6,946	5,258	2,426	139.1
Operating Cash Flow Growth	12.87%	32.12%	116.74%	1643.85%	-
Capital Expenditures	-5,410	-1,232	-502.9	-854.6	-6.1
Sale of Property, Plant & Equipment	530	139	7.8	72.7	237.5
Cash Acquisitions	-	-1,020	-	-	-
Sale (Purchase) of Intangibles	-40	-76	-82.8	-19.6	-8.7
Investment in Securities	-	-1,000	-	-	-
Other Investing Activities	-1,534	-26	-	0.2	-0.1
Investing Cash Flow	-6,454	-3,215	-577.9	-801.3	222.6
Long-Term Debt Issued	3,402	192	289.6	-	-
Long-Term Debt Repaid	-5,093	-2,559	-2,512	-1,110	-460.7
Net Debt Issued (Repaid)	-1,691	-2,367	-2,222	-1,110	-460.7
Issuance of Common Stock	-	-	-	-	5,863
Repurchase of Common Stock	-48	-	-	-	-
Common Dividends Paid	-950	-	-	-7.6	-377.7
Other Financing Activities	-1,062	-1,030	-745.1	-443.7	-240.1
Financing Cash Flow	-3,751	-3,397	-2,967	-1,561	4,784
Foreign Exchange Rate Adjustments	-68	56	6.6	1	-118.2
Miscellaneous Cash Flow Adjustments	-1	-	-6.6	-1.1	-
Net Cash Flow	-2,434	390	1,712	63.2	5,028
Free Cash Flow	2,430	5,714	4,755	1,571	133
Free Cash Flow Growth	-57.47%	20.18%	202.63%	1081.28%	-
Free Cash Flow Margin	6.46%	16.18%	18.62%	8.33%	2.62%
Free Cash Flow Per Share	2.24	5.07	4.22	1.40	0.19
Cash Interest Paid	1,063	1,030	745.1	443.7	240.1
Cash Income Tax Paid	35	72	1.7	37	-
Levered Free Cash Flow	-315.5	3,351	1,942	742.06	-5,099
Unlevered Free Cash Flow	478.88	4,060	2,472	1,148	-4,673
Change in Working Capital	-372	-36	-730.8	540.8	2,097

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.