Norse Atlantic ASA Cash Flow Statement

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

Millions USD. 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	-61.94	-135.45	-168.75	-174.97	-7.63
Depreciation & Amortization	76.57	86.98	83.42	58.17	0.34
Other Amortization	-	0.94	0.69	0.35	-
Stock-Based Compensation	0.36	0.28	0.31	-	-
Other Operating Activities	-1.03	46.38	39.73	25.6	-0.26
Change in Other Net Operating Assets	56.4	56.52	24.05	22.22	1.47
Operating Cash Flow	70.37	55.64	-20.56	-68.64	-6.09
Operating Cash Flow Growth	26.46%	-	-	-	-
Capital Expenditures	-20.75	-22.42	-3.96	-14.64	-22.95
Investment in Securities	-0.13	-1.99	-3.37	-10.31	-3.69
Other Investing Activities	0	-0	0	-0	-
Investing Cash Flow	-20.87	-24.41	-7.33	-24.96	-26.63
Short-Term Debt Issued	20.31	-	-	-	-
Long-Term Debt Issued	27.38	20	-	-	-
Total Debt Issued	47.69	20	-	-	-
Long-Term Debt Repaid	-84.58	-69.16	-28.21	-0.78	-
Total Debt Repaid	-84.58	-69.16	-28.21	-0.78	-0.07
Net Debt Issued (Repaid)	-36.89	-49.16	-28.21	-0.78	-0.07
Issuance of Common Stock	11.08	14.3	68.2	32.11	187.08
Other Financing Activities	-16.4	-25.89	-38.07	-8.74	-8.64
Financing Cash Flow	-42.2	-60.75	1.93	22.59	178.37
Foreign Exchange Rate Adjustments	0.61	-0.16	0.59	1.46	0.81
Miscellaneous Cash Flow Adjustments	-	0	-	-	-
Net Cash Flow	7.9	-29.68	-25.38	-69.54	146.46
Free Cash Flow	49.62	33.22	-24.52	-83.28	-29.03
Free Cash Flow Growth	49.37%	-	-	-	-
Free Cash Flow Margin	6.76%	5.65%	-5.58%	-79.87%	-
Free Cash Flow Per Share	0.34	0.26	-0.36	-3.95	-1.50
Cash Interest Paid	-	-	-	0.56	0.01
Cash Income Tax Paid	-	0.38	0.14	-	-
Levered Free Cash Flow	43.81	23.27	12	-32.71	-
Unlevered Free Cash Flow	68.87	47.66	33.86	-17.45	-
Change in Working Capital	56.4	56.52	24.05	22.22	1.47

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