Nordic Aqua Partners Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2019
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 - 2019
Net Income	-16.33	-17.42	-8.23	-5.48	-3.7	Upgrade
Depreciation & Amortization	5.48	4.18	0.7	0.07	0.02	Upgrade
Stock-Based Compensation	-0.01	0.24	0.16	0.13	-	Upgrade
Other Operating Activities	2.61	-1.91	1.55	0.41	-	Upgrade
Change in Accounts Receivable	-0.24	-0.17	-4.52	0.24	-0.71	Upgrade
Change in Inventory	-7.97	-6.5	-7.01	-0.73	-	Upgrade
Change in Accounts Payable	3.78	4.68	-0.9	2.39	0.74	Upgrade
Change in Other Net Operating Assets	-2.23	0.17	0.9	-0.12	-	Upgrade
Operating Cash Flow	-14.9	-16.73	-17.36	-3.08	-3.64	Upgrade
Capital Expenditures	-31.26	-21.7	-19.36	-21.48	-14.55	Upgrade
Investing Cash Flow	-31.26	-21.7	-19.36	-21.48	-14.55	Upgrade
Long-Term Debt Issued	46.35	11.62	15.43	-	-	Upgrade
Long-Term Debt Repaid	-44.13	-1.19	-	-	-	Upgrade
Net Debt Issued (Repaid)	2.22	10.43	15.43	-	-	Upgrade
Issuance of Common Stock	-	30.98	35.46	-	-	Upgrade
Other Financing Activities	37.4	-7.36	-2.81	-0.41	-	Upgrade
Financing Cash Flow	39.62	34.05	48.08	-0.41	-	Upgrade
Foreign Exchange Rate Adjustments	-	-	-1.44	0.06	1.75	Upgrade
Miscellaneous Cash Flow Adjustments	0	-	-	-0	-	Upgrade
Net Cash Flow	-6.54	-4.38	9.91	-24.91	-16.44	Upgrade
Free Cash Flow	-46.16	-38.43	-36.73	-24.56	-18.19	Upgrade
Free Cash Flow Margin	-358.18%	-591.53%	-	-	-	Upgrade
Free Cash Flow Per Share	-2.17	-2.23	-2.58	-2.39	-1.77	Upgrade
Cash Interest Paid	4.26	2.45	1.48	0.67	0.64	Upgrade
Levered Free Cash Flow	-43.4	-33.85	-35.79	-21.61	-16.09	Upgrade
Unlevered Free Cash Flow	-40.98	-32.38	-34.87	-21.61	-15.98	Upgrade
Change in Working Capital	-6.66	-1.82	-11.54	1.78	0.04	Upgrade

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