Zaptec 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	53.89	-3.24	22.23	-52.89	45.5
Depreciation & Amortization	37.65	22.65	21.03	12.85	7.57
Other Amortization	-	11.31	8.89	7.72	5.32
Loss (Gain) From Sale of Investments	-	-	-	5.02	-
Stock-Based Compensation	18.29	5.87	8.13	11.51	8.4
Other Operating Activities	-3.19	-1.84	0.73	5.25	16.06
Change in Accounts Receivable	-12.01	15.64	-69.71	-35.42	-10.56
Change in Inventory	270.03	-44.43	-356.56	-64.62	-39.05
Change in Accounts Payable	-6.26	-105.64	98.55	79.92	28.68
Change in Other Net Operating Assets	81.2	64.36	47.05	-18.15	-9.34
Operating Cash Flow	439.61	-35.33	-219.66	-48.82	52.58
Operating Cash Flow Growth	-	-	-	-	259.68%
Capital Expenditures	-47.16	-5.01	-64.78	-24.84	-4.47
Sale of Property, Plant & Equipment	-	-	7.57	-	-
Cash Acquisitions	-	-	-	-	-18.3
Sale (Purchase) of Intangibles	-	-39.38	-13.6	-	-12.51
Investment in Securities	-	-	-	172.89	39.89
Other Investing Activities	36.98	-22.82	35.85	-67.4	-
Investing Cash Flow	-10.18	-67.21	-34.96	80.65	4.62
Short-Term Debt Issued	-	159.97	-	29.23	-
Long-Term Debt Issued	-	-	37.59	-	-
Total Debt Issued	-	159.97	37.59	29.23	-
Short-Term Debt Repaid	-159.97	-	-29.23	-3.83	-3.83
Long-Term Debt Repaid	-8.87	-8.65	-	-4.55	-2.9
Total Debt Repaid	-168.84	-8.65	-29.23	-8.38	-6.73
Net Debt Issued (Repaid)	-168.84	151.32	8.36	20.85	-6.73
Issuance of Common Stock	2.79	1.13	287.93	1.69	10.2
Repurchase of Common Stock	-1.47	-	-2.18	-9.16	-7.5
Other Financing Activities	-4.13	-13.81	-0.7	-18.62	-0.64
Financing Cash Flow	-171.65	138.64	293.4	-5.23	-4.67
Miscellaneous Cash Flow Adjustments	-	-0	-0	-	-
Net Cash Flow	257.78	36.1	38.78	26.6	52.52
Free Cash Flow	392.44	-40.34	-284.44	-73.65	48.11
Free Cash Flow Margin	25.62%	-3.18%	-20.28%	-9.99%	9.84%
Free Cash Flow Per Share	4.44	-0.46	-3.28	-0.96	0.63
Cash Interest Paid	4.13	13.81	0.7	2.63	0.64
Cash Income Tax Paid	18.97	20.98	11.11	9.25	-
Levered Free Cash Flow	422.54	-96.57	-322.07	-129.87	50.73
Unlevered Free Cash Flow	425.12	-87.94	-321.6	-128.23	51.5
Change in Working Capital	332.96	-70.07	-280.67	-38.27	-30.27

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