Karnell 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
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
Net Income	133.4	77.5	77.4	38.23	9.67
Depreciation & Amortization	103.1	82.6	54	37.46	24.04
Other Amortization	2.3	2.3	2	1.63	1.18
Other Operating Activities	-12.3	-1.6	9.7	30.42	2.44
Change in Accounts Receivable	-45.3	12.9	-20.7	-22.56	-10.36
Change in Inventory	-14.9	24.1	-15.5	-33.17	-4.6
Change in Accounts Payable	-2.2	-18.3	2.9	-5.01	-2.44
Change in Other Net Operating Assets	10.6	-5.4	23	9.74	-0.81
Operating Cash Flow	174.7	174.1	132.8	56.74	19.14
Operating Cash Flow Growth	1.39%	31.10%	134.07%	196.46%	-
Capital Expenditures	-52.2	-48.1	-21.5	-33.88	-3.79
Sale of Property, Plant & Equipment	1.5	2	0.3	-	-
Cash Acquisitions	-207.5	-336.4	-162.3	-342.31	-176.81
Divestitures	-	-	-	-	-5.4
Sale (Purchase) of Intangibles	-3.3	-4.2	-4.3	-4.7	-5.34
Sale (Purchase) of Real Estate	-0.1	-0.1	-0.7	-1.22	-
Investment in Securities	0.3	0.2	-0.6	-	-
Other Investing Activities	0.1	0.1	-0.1	-0	-
Investing Cash Flow	-261.2	-386.5	-189.2	-382.11	-191.33
Long-Term Debt Issued	-	153	427.8	137.02	97.54
Short-Term Debt Repaid	-	-57.9	-27.3	-	-
Long-Term Debt Repaid	-	-71.2	-397	-24.14	-18.3
Total Debt Repaid	-182.1	-129.1	-424.3	-24.14	-18.3
Net Debt Issued (Repaid)	-48.4	23.9	3.5	112.88	79.24
Issuance of Common Stock	-	287	110.3	110.58	190.75
Other Financing Activities	-56.5	-6.9	-16.3	-	3.59
Financing Cash Flow	-104.9	304	97.5	223.46	273.57
Foreign Exchange Rate Adjustments	-2.9	4.3	0.7	4.47	-0.44
Net Cash Flow	-194.5	95.9	41.8	-97.45	100.94
Free Cash Flow	122.5	126	111.3	22.86	15.35
Free Cash Flow Growth	-11.93%	13.21%	386.96%	48.89%	-
Free Cash Flow Margin	7.52%	8.98%	10.09%	2.60%	3.64%
Free Cash Flow Per Share	2.25	2.42	2.61	0.66	0.69
Cash Interest Paid	36	37	28.1	18.88	11.53
Cash Income Tax Paid	44	46.5	33.7	23.5	11.22
Levered Free Cash Flow	97.04	106.28	19.91	-76.95	-
Unlevered Free Cash Flow	119.54	129.4	37.41	-65.1	-
Change in Working Capital	-51.8	13.3	-10.3	-51	-18.2

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