CPH:SIG Cash Flow Statement

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

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
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	2020 - 2016
Net Income	6.9	15.5	11	28	36	Upgrade
Loss (Gain) From Sale of Assets	1.9	-0.1	2.2	7.1	-15.5	Upgrade
Asset Writedown & Restructuring Costs	-0.5	-	0.9	-6.7	-4.5	Upgrade
Other Operating Activities	4.1	-3.4	-1.9	-13.7	-7.6	Upgrade
Change in Accounts Receivable	-2.6	-0.2	0.8	-1	-0.9	Upgrade
Change in Accounts Payable	2.3	-0.2	0.4	-1.2	3.2	Upgrade
Operating Cash Flow	12.1	11.6	13.4	12.5	10.7	Upgrade
Operating Cash Flow Growth	4.31%	-13.43%	7.20%	16.82%	-89.00%	Upgrade
Sale (Purchase) of Real Estate	-62.9	-	-	-0.1	-70.6	Upgrade
Investment in Securities	1.7	-6.1	-4.6	1.8	-21	Upgrade
Investing Cash Flow	-61.2	-6.1	-4.6	1.7	-91.6	Upgrade
Long-Term Debt Issued	70.8	2.2	-	62.4	73.8	Upgrade
Total Debt Issued	70.8	2.2	-	62.4	73.8	Upgrade
Long-Term Debt Repaid	-9.7	-	-3.5	-67	-2.8	Upgrade
Total Debt Repaid	-9.7	-	-3.5	-67	-2.8	Upgrade
Net Debt Issued (Repaid)	61.1	2.2	-3.5	-4.6	71	Upgrade
Issuance of Common Stock	-	-	-	-	5.2	Upgrade
Repurchase of Common Stock	-6.4	-9.6	-6.2	-7.9	-	Upgrade
Other Financing Activities	0.1	-	-	-	-	Upgrade
Financing Cash Flow	54.8	-7.4	-9.7	-12.5	76.2	Upgrade
Net Cash Flow	5.7	-1.9	-0.9	1.7	-4.7	Upgrade
Free Cash Flow	12.1	11.6	13.4	12.5	10.7	Upgrade
Free Cash Flow Growth	4.31%	-13.43%	7.20%	16.82%	-89.00%	Upgrade
Free Cash Flow Margin	42.61%	38.28%	53.39%	26.04%	34.29%	Upgrade
Free Cash Flow Per Share	0.26	0.24	0.26	0.23	0.19	Upgrade
Cash Income Tax Paid	0.2	-	-0.4	0.3	1.6	Upgrade
Levered Free Cash Flow	9.6	12.75	11.78	20.24	18.84	Upgrade
Unlevered Free Cash Flow	12.66	16.25	14.96	20.86	19.65	Upgrade
Change in Working Capital	-0.3	-0.4	1.2	-2.2	2.3	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.