H+H International 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	-547	-53	-248	303	310	241	Upgrade
Depreciation & Amortization	182	187	187	202	183	189	Upgrade
Loss (Gain) From Sale of Assets	-	-	-	-	-7	4	Upgrade
Asset Writedown & Restructuring Costs	572	-	101	-	7	-	Upgrade
Other Operating Activities	-42	-196	-143	-12	-21	16	Upgrade
Change in Accounts Receivable	32	32	-12	12	-54	21	Upgrade
Change in Inventory	225	225	-117	-205	-18	20	Upgrade
Change in Accounts Payable	-50	-50	23	16	83	-38	Upgrade
Change in Other Net Operating Assets	-336	-	-	-	-29	-28	Upgrade
Operating Cash Flow	36	145	-209	316	454	425	Upgrade
Operating Cash Flow Growth	-71.20%	-	-	-30.40%	6.82%	15.18%	Upgrade
Capital Expenditures	-114	-124	-165	-266	-197	-134	Upgrade
Sale of Property, Plant & Equipment	205	205	35	11	8	-	Upgrade
Cash Acquisitions	-7	-7	-7	-	-238	-72	Upgrade
Investing Cash Flow	84	74	-137	-255	-427	-206	Upgrade
Long-Term Debt Issued	-	140	245	116	134	51	Upgrade
Long-Term Debt Repaid	-	-32	-112	-27	-54	-36	Upgrade
Net Debt Issued (Repaid)	109	108	133	89	80	15	Upgrade
Repurchase of Common Stock	-	-	-2	-169	-95	-4	Upgrade
Other Financing Activities	-5	-5	-	-	-10	-5	Upgrade
Financing Cash Flow	104	103	131	-80	-25	6	Upgrade
Foreign Exchange Rate Adjustments	-11	1	-4	-5	9	-14	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-	-	7	8	Upgrade
Net Cash Flow	213	323	-219	-24	18	219	Upgrade
Free Cash Flow	-78	21	-374	50	257	291	Upgrade
Free Cash Flow Growth	-	-	-	-80.55%	-11.68%	19.75%	Upgrade
Free Cash Flow Margin	-2.80%	0.76%	-14.00%	1.39%	8.51%	10.96%	Upgrade
Free Cash Flow Per Share	-4.79	1.27	-22.82	2.87	14.36	16.26	Upgrade
Cash Interest Paid	-	-	-	-	18	23	Upgrade
Cash Income Tax Paid	44	64	46	58	74	56	Upgrade
Levered Free Cash Flow	125.13	269	-154	52.13	212.13	233.13	Upgrade
Unlevered Free Cash Flow	170.13	330.88	-112.75	61.5	223.38	243.13	Upgrade
Change in Working Capital	-129	207	-106	-177	-18	-25	Upgrade

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