BTS Group AB Cash Flow Statement

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

Millions SEK. 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	133.65	386.5	214.82	198.41	214.7
Depreciation & Amortization	143.21	140.99	133.87	116.7	103.95
Loss (Gain) on Equity Investments	-	-	-	0.3	0.32
Other Operating Activities	-20.81	-222.32	-19.27	35.18	-2.22
Change in Accounts Receivable	-45.65	34.64	-12.62	-101.87	-114.54
Change in Accounts Payable	-	79.84	-96.54	-39.83	167.7
Change in Other Net Operating Assets	2.4	-33.69	-54.61	-9.86	-57.87
Operating Cash Flow	212.8	385.95	165.65	199.01	312.05
Operating Cash Flow Growth	-44.86%	132.99%	-16.77%	-36.22%	28.89%
Capital Expenditures	-58.35	-9.85	-9.17	-21.02	-12.26
Cash Acquisitions	-128.27	-158.92	-65.33	-14.97	-160.43
Sale (Purchase) of Intangibles	-	-23.93	-31.07	-39.17	-7.08
Investment in Securities	-	5.72	-	-	-
Other Investing Activities	-	-1.49	0.21	-0.76	-2.11
Investing Cash Flow	-186.61	-188.47	-105.37	-75.91	-181.89
Long-Term Debt Issued	159.99	146.16	94.14	8.21	-
Long-Term Debt Repaid	-61.22	-86.9	-73.86	-123.5	-137.44
Net Debt Issued (Repaid)	98.78	59.25	20.28	-115.28	-137.44
Common Dividends Paid	-118.32	-110.56	-104.68	-93	-23.19
Other Financing Activities	-	-	-	0	-
Financing Cash Flow	-19.55	-51.31	-84.41	-208.28	-160.64
Foreign Exchange Rate Adjustments	-84.04	24.84	-20.62	67.81	33.74
Miscellaneous Cash Flow Adjustments	0	-	-	-0	0
Net Cash Flow	-77.39	171.02	-44.75	-17.37	3.26
Free Cash Flow	154.45	376.1	156.48	178	299.78
Free Cash Flow Growth	-58.93%	140.35%	-12.09%	-40.62%	30.49%
Free Cash Flow Margin	5.71%	13.42%	5.83%	7.04%	15.64%
Free Cash Flow Per Share	7.96	19.39	8.07	9.19	15.51
Cash Interest Paid	-	35.77	26.79	16.67	17.19
Cash Income Tax Paid	67.79	-	-	55.79	76.41
Levered Free Cash Flow	293.18	265.41	167.18	129.7	190.6
Unlevered Free Cash Flow	315.76	287.77	183.93	140.12	201.35
Change in Working Capital	-43.25	80.79	-163.77	-151.56	-4.71

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