Hafnia Cash Flow Statement

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

Millions USD. 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	309.66	774.04	793.28	751.59	-55.49	148.78
Depreciation & Amortization	169.67	179.48	182.26	209.22	128.09	134.43
Other Amortization	35.64	35.64	28.77	-	28.09	22.02
Loss (Gain) From Sale of Assets	-15.77	-28.52	-56.09	-25.48	4.94	12.84
Loss (Gain) on Equity Investments	-10.95	-20.52	-19.07	-24.15	1.77	-5.03
Stock-Based Compensation	2.88	2.96	2.82	1.76	3.15	1.18
Other Operating Activities	50.42	42.69	80.12	90.79	39.93	47.82
Change in Accounts Receivable	77	86.14	-139.17	-259.62	-37.46	70.73
Change in Inventory	20.15	13.55	-17.77	-16.09	-1.43	1.76
Change in Accounts Payable	16.81	-49.17	205.66	42.87	-5.13	-36.04
Change in Other Net Operating Assets	-15.19	-5.92	-	-	-	-
Operating Cash Flow	640.32	1,030	1,061	770.89	106.44	398.47
Operating Cash Flow Growth	-37.29%	-2.87%	37.61%	624.26%	-73.29%	64.10%
Capital Expenditures	-125.57	-49.6	-184.39	-447.13	-26.66	-47.58
Sale of Property, Plant & Equipment	46.65	57.1	142.79	271.69	40.19	11.9
Cash Acquisitions	-	-	-	4.2	-	-
Sale (Purchase) of Intangibles	-0	-0.02	-	-0.25	-0.37	-1.02
Investment in Securities	0.78	0.63	-12.65	-2.14	-13.71	-
Other Investing Activities	20.95	21.79	22.57	-5.5	-12.62	-13.86
Investing Cash Flow	-57.2	29.89	-31.68	-179.13	-47.88	-50.56
Short-Term Debt Issued	-	-	-	3.75	18.75	-
Long-Term Debt Issued	-	110	247.03	440.26	622.69	118.94
Total Debt Issued	473	110	247.03	444.01	641.44	118.94
Short-Term Debt Repaid	-	-	-	-22.5	-	-8.73
Long-Term Debt Repaid	-	-310.33	-704.65	-647.55	-662.25	-300.88
Total Debt Repaid	-693.31	-310.33	-704.65	-670.05	-662.25	-309.61
Net Debt Issued (Repaid)	-220.31	-200.33	-457.62	-226.04	-20.81	-190.67
Issuance of Common Stock	0.41	0.94	9.29	99.24	-	-
Repurchase of Common Stock	-76.82	-49.16	-	-	-	-12.64
Common Dividends Paid	-318.8	-699.88	-544.14	-243.75	-	-98.32
Other Financing Activities	-49.39	-50.77	-94.47	-94.59	-38.34	-37.23
Financing Cash Flow	-664.91	-999.21	-1,087	-465.13	-59.15	-338.86
Net Cash Flow	-81.78	61.05	-57.8	126.62	-0.6	9.06
Free Cash Flow	514.75	980.76	876.41	323.76	79.78	350.9
Free Cash Flow Growth	-45.16%	11.91%	170.70%	305.84%	-77.27%	-
Free Cash Flow Margin	23.17%	34.19%	32.80%	16.80%	9.83%	40.14%
Free Cash Flow Per Share	1.02	1.90	1.72	0.66	0.22	0.96
Cash Interest Paid	23.4	41.68	79.34	87.87	29.9	35.09
Cash Income Tax Paid	2.25	9.51	3.63	4.99	4.44	2
Levered Free Cash Flow	369.6	637.47	624.2	-160.32	39.99	237.48
Unlevered Free Cash Flow	401.15	670.2	672.57	-103.38	59.87	266.83
Change in Working Capital	98.78	44.6	48.72	-232.84	-44.02	36.45

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

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