| DKK billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 42.1 | 47.8 | 55.5 | 83.7 | 101.0 | 102.4 | +1.4% | |
| Depreciation & amortization | 5.8 | 6.0 | 7.4 | 9.4 | 19.1 | 22.0 | +15.0% | |
| Stock-based compensation | 0.8 | 1.0 | 1.5 | 2.1 | 2.3 | 0.0 | −100.0% | |
| Change in working capital | (4.4) | (8.7) | (5.5) | (12.2) | 2.6 | 3.7 | +44.3% | |
| Operating cash flow | 52.0 | 55.0 | 78.9 | 108.9 | 121.0 | 119.1 | −1.5% | |
| Capital expenditure | (22.1) | (7.4) | (14.8) | (38.9) | (51.3) | (90.1) | −75.6% | |
| Acquisitions | (0.4) | (18.3) | (7.1) | 0.0 | (82.2) | 1.0 | +101.2% | |
| Investing cash flow | (22.4) | (31.6) | (24.9) | (43.9) | (128.9) | (79.2) | +38.6% | |
| Dividends paid | (20.1) | (21.5) | (25.3) | (31.8) | (44.1) | (51.8) | −17.3% | |
| Share buybacks | (16.9) | (19.4) | (24.1) | (29.9) | (20.2) | (1.4) | +93.1% | |
| Debt issued / repaid | 4.7 | 15.5 | (2.4) | (1.5) | 73.1 | 24.7 | −66.1% | |
| Financing cash flow | (32.2) | (25.5) | (51.8) | (63.2) | 8.7 | (28.4) | −425.2% | |
| Free cash flow | 29.9 | 47.6 | 64.1 | 70.0 | 69.7 | 29.0 | −58.4% | |
| Net change in cash | (3.2) | (1.5) | 1.9 | 1.7 | 1.3 | 10.8 | +755.8% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in DKK; the shares trade in USD.
