Zalaris 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	60.52	33.76	-2.12	-37.12	12.81
Depreciation & Amortization	70.28	45.18	41.67	35.3	32.51
Other Amortization	70.19	67.46	50.43	47.19	46.86
Asset Writedown & Restructuring Costs	-	-	-0	-	-0
Stock-Based Compensation	10.27	13.08	11.58	8.71	5.68
Other Operating Activities	-18.79	-33.83	0.11	0.07	-46.17
Change in Accounts Receivable	1.86	-29.17	-70.98	-50.32	12.46
Change in Accounts Payable	4.67	4.58	-7.25	27.15	-3.53
Change in Other Net Operating Assets	-36.54	30.42	35.1	-10.02	-27.58
Operating Cash Flow	162.45	131.47	58.55	0.42	33.04
Operating Cash Flow Growth	23.56%	124.55%	13773.93%	-98.72%	-64.19%
Capital Expenditures	-15.11	-27.45	-4.33	-5.68	-20.63
Sale of Property, Plant & Equipment	-	41.9	-	-	-
Cash Acquisitions	-	-	-	-11.32	-43.32
Sale (Purchase) of Intangibles	-	-	-29.54	-22.16	-
Investing Cash Flow	-15.11	14.45	-33.87	-39.16	-63.95
Long-Term Debt Issued	-	-	440.8	-	-
Total Debt Issued	-	-	440.8	-	-
Long-Term Debt Repaid	-517.62	-43.6	-423.34	-20.79	-17.69
Total Debt Repaid	-517.62	-43.6	-423.34	-20.79	-17.69
Net Debt Issued (Repaid)	-517.62	-43.6	17.46	-20.79	-17.69
Issuance of Common Stock	0	0	0.88	-	122.74
Repurchase of Common Stock	-	-0.01	-	-17.77	-0.98
Common Dividends Paid	-19.56	-	-	-7.56	-19.64
Other Financing Activities	376.58	-13.28	0.29	2.2	0
Financing Cash Flow	-160.6	-56.89	18.63	-43.91	84.44
Foreign Exchange Rate Adjustments	-7.4	-3.25	-0.8	-0.12	-2.15
Net Cash Flow	-20.67	85.78	42.52	-82.77	51.38
Free Cash Flow	147.34	104.02	54.22	-5.26	12.41
Free Cash Flow Growth	41.64%	91.84%	-	-	-86.44%
Free Cash Flow Margin	9.80%	7.73%	4.78%	-0.59%	1.60%
Free Cash Flow Per Share	6.26	4.32	2.21	-0.24	0.55
Cash Interest Paid	33.93	43.22	38.32	20.25	19.54
Cash Income Tax Paid	12.3	7.9	11.45	14.36	-
Levered Free Cash Flow	185.11	129.3	57.05	24.72	63.56
Unlevered Free Cash Flow	209.39	158.81	82.67	37.69	71.72
Change in Working Capital	-30.02	5.82	-43.12	-33.19	-18.64

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