AAK AB (publ.) Cash Flow Statement

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

Millions SEK. 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	3,458	3,429	3,536	2,946	1,770	1,437
Depreciation & Amortization	835	837	862	858	791	717
Loss (Gain) From Sale of Assets	2	2	3	-109	7	5
Asset Writedown & Restructuring Costs	45	45	-	19	8	241
Other Operating Activities	-211	-452	764	27	61	257
Change in Accounts Receivable	-384	-661	-466	1,241	-1,149	-1,710
Change in Inventory	-1,114	-1,250	-2,409	2,463	-1,427	-2,181
Change in Accounts Payable	217	-737	198	-1,545	-812	1,793
Change in Other Net Operating Assets	-99	-351	-136	-586	678	-51
Operating Cash Flow	2,749	862	2,352	5,314	-73	508
Operating Cash Flow Growth	140.51%	-63.35%	-55.74%	-	-	-74.89%
Capital Expenditures	-1,281	-1,263	-1,198	-1,205	-1,215	-613
Sale of Property, Plant & Equipment	8	8	1	131	7	-
Cash Acquisitions	-	-	-	-89	-14	-31
Divestitures	-	-	646	-	-	-
Sale (Purchase) of Intangibles	-40	-40	-47	-40	-11	-6
Investing Cash Flow	-1,313	-1,295	-598	-1,203	-1,233	-650
Long-Term Debt Issued	-	3,857	430	259	4,625	1,630
Long-Term Debt Repaid	-	-2,490	-796	-3,606	-2,413	-1,539
Net Debt Issued (Repaid)	55	1,367	-366	-3,347	2,212	91
Issuance of Common Stock	216	175	-	-	147	434
Common Dividends Paid	-1,298	-1,298	-960	-714	-646	-590
Other Financing Activities	-	-	-	-	80	-
Financing Cash Flow	-1,027	244	-1,326	-4,061	1,793	-65
Foreign Exchange Rate Adjustments	-34	-156	-20	-62	27	8
Net Cash Flow	375	-345	408	-12	514	-199
Free Cash Flow	1,468	-401	1,154	4,109	-1,288	-105
Free Cash Flow Growth	-	-	-71.91%	-	-	-
Free Cash Flow Margin	3.21%	-0.87%	2.56%	8.93%	-2.55%	-0.30%
Free Cash Flow Per Share	5.63	-1.54	4.43	15.83	-4.97	-0.41
Cash Interest Paid	196	196	241	283	188	90
Cash Income Tax Paid	1,067	1,203	936	979	617	521
Levered Free Cash Flow	837.25	331.25	852.13	3,276	-2,443	-672.38
Unlevered Free Cash Flow	941	445	999	3,451	-2,316	-611.75
Change in Working Capital	-1,380	-2,999	-2,813	1,573	-2,710	-2,149

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