CombinedX 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	37.7	50.6	70.9	35.2	49.3
Depreciation & Amortization	57.4	47.8	36.1	28	26.6
Other Amortization	0.9	0.9	1	0.3	0.7
Loss (Gain) From Sale of Assets	0.7	0.1	-	-0.1	-6.4
Loss (Gain) on Equity Investments	-0.9	-0.1	-0.2	-	-0.6
Provision & Write-off of Bad Debts	-0.3	0.7	0.7	-	-
Other Operating Activities	-11	-14.6	-17.7	0.3	3
Change in Accounts Receivable	24.7	43.3	-0.6	-22.1	-15
Change in Inventory	0.2	3.5	-	-	-
Change in Other Net Operating Assets	-10.2	-7.9	-8.8	-0.7	10.3
Operating Cash Flow	99.2	124.3	81.4	40.9	67.9
Operating Cash Flow Growth	-20.19%	52.70%	99.02%	-39.76%	20.18%
Capital Expenditures	-7.8	-4.9	-3.3	-3.6	-0.8
Sale of Property, Plant & Equipment	-	-	0.3	-	0.1
Cash Acquisitions	-81.8	-58.6	-25.4	-46.7	-2
Divestitures	-	2.8	-	-	9.3
Sale (Purchase) of Intangibles	-1.6	-1.3	-0.5	-	-0.2
Investment in Securities	-	-	0.3	-3.4	0.9
Other Investing Activities	-	-0.1	-	-	-
Investing Cash Flow	-91.2	-62.1	-28.6	-53.7	7.3
Long-Term Debt Issued	53	22	-	36.3	-
Total Debt Issued	53	22	-	36.3	-
Short-Term Debt Repaid	-	-	-	-	-18.9
Long-Term Debt Repaid	-63.1	-58.9	-38.3	-41.8	-37
Total Debt Repaid	-63.1	-58.9	-38.3	-41.8	-55.9
Net Debt Issued (Repaid)	-10.1	-36.9	-38.3	-5.5	-55.9
Issuance of Common Stock	0.9	26.3	-	56.3	50
Common Dividends Paid	-25.6	-36.4	-18	-25.3	-30.2
Other Financing Activities	0.1	0.1	0.1	-	-2
Financing Cash Flow	-34.7	-46.9	-56.2	25.5	-38.1
Foreign Exchange Rate Adjustments	-1.5	-	-0.3	-	-
Miscellaneous Cash Flow Adjustments	-	-	-	0.1	-
Net Cash Flow	-28.2	15.3	-3.7	12.8	37.1
Free Cash Flow	91.4	119.4	78.1	37.3	67.1
Free Cash Flow Growth	-23.45%	52.88%	109.38%	-44.41%	19.18%
Free Cash Flow Margin	9.63%	12.83%	10.19%	5.73%	11.98%
Free Cash Flow Per Share	4.83	6.66	4.50	2.22	4.87
Cash Interest Paid	6.2	7.4	6.6	4.7	2.5
Cash Income Tax Paid	23.6	23.8	24.4	10.8	6.3
Levered Free Cash Flow	95.04	117.89	62.13	33.11	58.31
Unlevered Free Cash Flow	98.91	121.51	65.19	35.93	60.31
Change in Working Capital	14.7	38.9	-9.4	-22.8	-4.7

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