Nordic Halibut AS 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	-62.8	-99.79	-60.66	-62.35	-60.95	-21.26
Depreciation & Amortization	43.5	36.2	25.39	16.65	12.42	12.6
Other Operating Activities	32.59	22.14	11.14	5.6	5.28	-
Change in Accounts Receivable	0.76	-2.82	5.6	6.34	-4.53	3.34
Change in Inventory	-149.55	-110.22	-86.54	-38.14	2.94	-29.83
Change in Accounts Payable	16.8	3.52	9.78	-7.01	0.17	8.28
Change in Other Net Operating Assets	-6.23	2.92	9.02	1.26	-1.03	-1.84
Operating Cash Flow	-124.93	-148.05	-86.29	-77.65	-45.7	-28.72
Capital Expenditures	-84.7	-30.3	-48.52	-31.53	-31.4	-6.47
Investing Cash Flow	-84.7	-30.3	-48.52	-31.53	-31.4	-6.47
Short-Term Debt Issued	-	136.22	45.32	0.25	-	12.07
Long-Term Debt Issued	-	10	-	5	3.9	11.5
Total Debt Issued	69.19	146.22	45.32	5.25	3.9	23.57
Short-Term Debt Repaid	-	-	-	-	-22.1	-
Long-Term Debt Repaid	-	-24.89	-22.72	-18.83	-69.72	-3.74
Total Debt Repaid	-119.36	-24.89	-22.72	-18.83	-91.82	-3.74
Net Debt Issued (Repaid)	-50.16	121.33	22.6	-13.59	-87.92	19.83
Issuance of Common Stock	280.93	-	199.39	-	274.54	62.79
Other Financing Activities	-27.24	-22.51	-10.61	-4.52	-6.05	-
Financing Cash Flow	203.53	98.82	211.38	-18.11	180.57	82.63
Foreign Exchange Rate Adjustments	-5.37	0.37	-0.52	-1.08	0.77	-
Miscellaneous Cash Flow Adjustments	-	0	-	-	0	-
Net Cash Flow	-11.46	-79.16	76.05	-128.37	104.24	47.45
Free Cash Flow	-209.62	-178.35	-134.81	-109.18	-77.1	-35.18
Free Cash Flow Margin	-159.16%	-196.91%	-132.14%	-136.16%	-108.15%	-100.95%
Free Cash Flow Per Share	-4.18	-4.56	-3.45	-3.74	-3.46	-1.53
Cash Interest Paid	27.24	22.51	10.61	4.52	6.05	-
Levered Free Cash Flow	-181.4	-149.19	-96.79	-96.42	-24.54	-28.35
Unlevered Free Cash Flow	-170.45	-135.14	-90.15	-93.59	-20.63	-24.87
Change in Working Capital	-138.22	-106.6	-62.15	-37.56	-2.45	-20.05

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