BTS Group AB Cash Flow Statement

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

Millions SEK. 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	162.43	386.5	214.82	198.41	214.7	35.23
Depreciation & Amortization	146.19	140.99	133.87	116.7	103.95	90.82
Loss (Gain) on Equity Investments	-	-	-	0.3	0.32	0.35
Other Operating Activities	-10.39	-222.32	-19.27	35.18	-2.22	-26.47
Change in Accounts Receivable	-8.11	34.64	-12.62	-101.87	-114.54	58.8
Change in Accounts Payable	79.84	79.84	-96.54	-39.83	167.7	57.3
Change in Other Net Operating Assets	-144.69	-33.69	-54.61	-9.86	-57.87	26.07
Operating Cash Flow	225.26	385.95	165.65	199.01	312.05	242.11
Operating Cash Flow Growth	-42.05%	132.99%	-16.77%	-36.22%	28.89%	11.21%
Capital Expenditures	-26.85	-9.85	-9.17	-21.02	-12.26	-12.38
Cash Acquisitions	-135.04	-158.92	-65.33	-14.97	-160.43	-125.72
Sale (Purchase) of Intangibles	-23.93	-23.93	-31.07	-39.17	-7.08	-8.05
Investment in Securities	5.72	5.72	-	-	-	-
Other Investing Activities	-1.49	-1.49	0.21	-0.76	-2.11	-1.51
Investing Cash Flow	-181.59	-188.47	-105.37	-75.91	-181.89	-147.65
Long-Term Debt Issued	-	146.16	94.14	8.21	-	347.9
Long-Term Debt Repaid	-	-86.9	-73.86	-123.5	-137.44	-65.33
Net Debt Issued (Repaid)	13.67	59.25	20.28	-115.28	-137.44	282.57
Common Dividends Paid	-114.44	-110.56	-104.68	-93	-23.19	-69.55
Other Financing Activities	0	-	-	0	-	-
Financing Cash Flow	-100.77	-51.31	-84.41	-208.28	-160.64	213.03
Foreign Exchange Rate Adjustments	-53.91	24.84	-20.62	67.81	33.74	-32.7
Miscellaneous Cash Flow Adjustments	0	-	-	-0	0	0
Net Cash Flow	-111.01	171.02	-44.75	-17.37	3.26	274.78
Free Cash Flow	198.41	376.1	156.48	178	299.78	229.73
Free Cash Flow Growth	-48.69%	140.35%	-12.09%	-40.62%	30.49%	14.02%
Free Cash Flow Margin	7.11%	13.42%	5.83%	7.04%	15.64%	15.69%
Free Cash Flow Per Share	10.23	19.39	8.07	9.19	15.51	11.89
Cash Interest Paid	35.77	35.77	26.79	16.67	17.19	15.17
Cash Income Tax Paid	-	-	-	55.79	76.41	41.95
Levered Free Cash Flow	190.02	265.41	167.18	129.7	190.6	292.98
Unlevered Free Cash Flow	214.12	287.77	183.93	140.12	201.35	302.46
Change in Working Capital	-72.96	80.79	-163.77	-151.56	-4.71	142.18

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.