ALK-Abelló Cash Flow Statement

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

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
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	2015 - 2019
Net Income	1,101	815	486	335	219	25	Upgrade
Depreciation & Amortization	271	234	214	208	197	173	Upgrade
Other Amortization	32	32	30	28	25	34	Upgrade
Loss (Gain) From Sale of Assets	-	-	-	-	33	37	Upgrade
Asset Writedown & Restructuring Costs	6	6	1	2	20	38	Upgrade
Stock-Based Compensation	49	51	30	27	36	29	Upgrade
Other Operating Activities	217	226	109	51	-34	119	Upgrade
Change in Accounts Receivable	78	78	-69	-172	-5	-159	Upgrade
Change in Inventory	-272	-272	-132	-74	-84	-69	Upgrade
Change in Accounts Payable	43	43	-2	11	61	74	Upgrade
Change in Other Net Operating Assets	23	-	-	-	-	-	Upgrade
Operating Cash Flow	1,548	1,213	667	416	468	301	Upgrade
Operating Cash Flow Growth	42.54%	81.86%	60.34%	-11.11%	55.48%	128.03%	Upgrade
Capital Expenditures	-253	-260	-310	-298	-218	-196	Upgrade
Cash Acquisitions	-10	-115	-	-	-	-	Upgrade
Sale (Purchase) of Intangibles	-1,077	-1,043	-69	-55	-45	-26	Upgrade
Investment in Securities	-1	1	4	2	-3	-23	Upgrade
Investing Cash Flow	-1,341	-1,417	-375	-351	-266	-245	Upgrade
Long-Term Debt Issued	-	671	671	60	226	-	Upgrade
Long-Term Debt Repaid	-	-329	-682	-133	-496	-49	Upgrade
Net Debt Issued (Repaid)	-76	342	-11	-73	-270	-49	Upgrade
Issuance of Common Stock	1	6	-	42	31	11	Upgrade
Other Financing Activities	-7	-38	-20	-11	-72	-24	Upgrade
Financing Cash Flow	-82	310	-31	-42	-311	-62	Upgrade
Foreign Exchange Rate Adjustments	-15	9	-8	4	5	-12	Upgrade
Net Cash Flow	110	115	253	27	-104	-18	Upgrade
Free Cash Flow	1,295	953	357	118	250	105	Upgrade
Free Cash Flow Growth	56.40%	166.95%	202.54%	-52.80%	138.09%	-	Upgrade
Free Cash Flow Margin	21.31%	17.21%	7.40%	2.62%	6.38%	3.01%	Upgrade
Free Cash Flow Per Share	5.84	4.30	1.61	0.53	1.13	0.48	Upgrade
Cash Interest Paid	37	13	23	14	23	22	Upgrade
Cash Income Tax Paid	193	95	60	78	100	14	Upgrade
Levered Free Cash Flow	-83.63	-327	84.13	3	132.38	85.5	Upgrade
Unlevered Free Cash Flow	-44.25	-286.38	97.88	18	146.75	106.75	Upgrade
Change in Working Capital	-128	-151	-203	-235	-28	-154	Upgrade

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