Cash flow Afry AB

Equities

AFRY

SE0005999836

Business Support Services

Market Closed - Nasdaq Stockholm Other stock markets 12:00:00 2026-04-13 pm EDT			5-day change	1st Jan Change
126.40 ^SEK	-1.02%		+2.10%	-15.73%

02:14am	Afry Secures Ozone Treatment Stage Design Contract for German Wastewater Treatment Plant	MT
01:56am	Afry secures 20 million SEK contract for new water treatment project in Berlin	FW

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Published financial data: AFRY AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	20.1B	23.55B	26.98B	27.16B	25.76B
Total Revenues	20.1B	23.55B	26.98B	27.16B	25.76B
Cost of Goods Sold, Total	16.18B	19.32B	21.9B	22.02B	21.11B
Gross Profit	3.92B	4.23B	5.08B	5.14B	4.65B
Selling General & Admin Expenses, Total	1.61B	1.9B	2.36B	2.34B	2.42B
Depreciation & Amortization - (IS)	698M	702M	780M	737M	665M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	-47M	-54M	-7M	-22M	-13M
Other Operating Expenses, Total	2.26B	2.54B	3.13B	3.05B	3.08B
Operating Income	1.66B	1.68B	1.95B	2.09B	1.58B
Interest Expense, Total	-122M	-182M	-372M	-370M	-293M
Interest And Investment Income	12M	12M	59M	63M	39M
Net Interest Expenses	-110M	-170M	-313M	-307M	-254M
Income (Loss) On Equity Invest.	5M	8M	-	-	-
Currency Exchange Gains (Loss)	1M	-37M	-7M	49M	-44M
Other Non Operating Income (Expenses)	-22M	-9M	-21M	-34M	-46M
EBT, Excl. Unusual Items	1.53B	1.48B	1.61B	1.8B	1.23B
Merger & Related Restructuring Charges	-147M	-292M	-169M	-164M	-170M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	11M	37M	-3M	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	1.39B	1.22B	1.44B	1.64B	1.06B
Income Tax Expense	264M	246M	341M	401M	257M
Earnings From Continuing Operations	1.13B	974M	1.1B	1.24B	804M
Net Income to Company	1.13B	974M	1.1B	1.24B	804M
Minority Interest	-	-	-	-6M	-4M
Net Income - (IS)	1.13B	974M	1.1B	1.23B	800M
Net Income to Common Incl Extra Items	1.13B	974M	1.1B	1.23B	800M
Net Income to Common Excl. Extra Items	1.13B	974M	1.1B	1.23B	800M
Per Share Items
Net EPS - Basic	9.97	8.6	9.71	10.85	7.06
Basic EPS - Continuing Operations	9.97	8.6	9.71	10.85	7.06
Basic Weighted Average Shares Outstanding	113M	113M	113M	113M	113M
Net EPS - Diluted	9.97	8.6	9.71	10.85	7.06
Diluted EPS - Continuing Operations	9.97	8.6	9.71	10.85	7.06
Diluted Weighted Average Shares Outstanding	113M	113M	113M	113M	113M
Normalized Basic EPS	8.44	8.14	8.9	9.88	6.76
Normalized Diluted EPS	8.44	8.14	8.9	9.88	6.76
Dividend Per Share	5.5	5.5	5.5	6	6
Payout Ratio	50.13	63.96	56.64	50.69	85
Supplemental Items
EBITDA	1.94B	1.99B	2.27B	2.41B	1.88B
EBITA	1.84B	1.88B	2.15B	2.29B	1.76B
EBIT	1.66B	1.68B	1.95B	2.09B	1.58B
EBITDAR	2.08B	2.13B	2.42B	2.54B	2B
Effective Tax Rate - (Ratio)	18.95	20.16	23.66	24.51	24.22
Total Current Taxes	300M	260M	348M	413M	328M
Total Deferred Taxes	-37M	-15M	-7M	-12M	-72M
Normalized Net Income	956M	922M	1.01B	1.12B	765M
Interest on Long-Term Debt	46M	48M	70M	75M	68M
Non-Cash Pension Expense	55M	67M	143M	85M	82M
Supplemental Operating Expense Items
Net Rental Expense, Total	139M	137M	144M	126M	122M
Imputed Operating Lease Interest Expense	18.78M	25.83M	54.75M	49.36M	41.27M
Imputed Operating Lease Depreciation	120M	111M	89.25M	76.64M	80.73M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.11B	1.09B	1.17B	1.27B	1.38B
Total Cash And Short Term Investments	2.11B	1.09B	1.17B	1.27B	1.38B
Accounts Receivable, Total	6.13B	7.53B	7.87B	7.98B	7.4B
Other Receivables	614M	930M	755M	761M	626M
Total Receivables	6.75B	8.46B	8.63B	8.74B	8.03B
Prepaid Expenses	106M	116M	111M	110M	101M
Other Current Assets, Total	91M	114M	106M	130M	130M
Total Current Assets	9.06B	9.78B	10.01B	10.25B	9.64B
Gross Property Plant And Equipment	3.47B	3.38B	3.24B	2.93B	2.91B
Accumulated Depreciation	-1.01B	-1.07B	-1.17B	-1.25B	-1.29B
Net Property Plant And Equipment	2.46B	2.31B	2.07B	1.68B	1.62B
Long-term Investments	76M	9M	9M	6M	32M
Goodwill	12.81B	14.43B	14.78B	15.09B	14.74B
Other Intangibles, Total	1.23B	1.16B	982M	837M	626M
Deferred Tax Assets Long-Term	174M	201M	205M	259M	258M
Other Long-Term Assets, Total	100M	109M	118M	183M	128M
Total Assets	25.91B	28B	28.17B	28.3B	27.04B
Liabilities
Accounts Payable, Total	1.1B	1.29B	1.18B	883M	787M
Accrued Expenses, Total	1.72B	1.84B	1.88B	1.98B	1.76B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	1.06B	1.22B	1.2B	576M	1.62B
Current Portion of Leases	423M	578M	601M	582M	538M
Current Income Taxes Payable	296M	320M	177M	246M	336M
Unearned Revenue Current, Total	1.91B	2.13B	2.08B	2.31B	2.64B
Other Current Liabilities	1.39B	1.65B	1.93B	1.78B	1.63B
Total Current Liabilities	7.9B	9.02B	9.04B	8.36B	9.3B
Long-Term Debt	4.42B	4.37B	4.69B	5.1B	3.57B
Long-Term Leases	1.74B	1.62B	1.37B	996M	880M
Pension & Other Post Retirement Benefits	216M	155M	159M	153M	130M
Deferred Tax Liability Non Current	389M	397M	393M	373M	309M
Other Non Current Liabilities	249M	249M	63M	173M	169M
Total Liabilities	14.92B	15.82B	15.72B	15.15B	14.36B
Common Stock, Total	283M	283M	283M	283M	283M
Additional Paid In Capital	4.94B	4.95B	4.95B	4.95B	4.95B
Retained Earnings	5.53B	6.08B	6.45B	6.92B	7.09B
Comprehensive Income and Other	234M	859M	774M	971M	352M
Total Common Equity	10.99B	12.18B	12.45B	13.13B	12.68B
Minority Interest	1M	2M	1M	23M	1M
Total Equity	10.99B	12.18B	12.46B	13.15B	12.68B
Total Liabilities And Equity	25.91B	28B	28.17B	28.3B	27.04B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	113M	113M	113M	113M	113M
ECS Total Common Shares Outstanding	113M	113M	113M	113M	113M
Book Value / Share	97.09	107.51	109.97	115.92	111.94
Tangible Book Value	-3.05B	-3.41B	-3.31B	-2.8B	-2.69B
Tangible Book Value Per Share	-26.97	-30.15	-29.19	-24.71	-23.73
Total Debt	7.65B	7.8B	7.86B	7.25B	6.6B
Net Debt	5.54B	6.71B	6.69B	5.98B	5.23B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-5M	-151M	21M	-13M	-302M
Debt Equivalent Oper. Leases	1.11B	1.1B	1.15B	1.01B	976M
Minority Interest, Total (Incl. Fin. Div)	1M	2M	1M	23M	1M
Equity Method Investments, Total	24M	1M	1M	1M	1M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	251M	5M	4M	3M	3M
Buildings, Total	-	-	-	-	-
Machinery, Total	1.26B	1.42B	1.54B	1.61B	1.6B
Full Time Employees	13.2K	16.98K	17.23K	16.49K	15.94K
Part Time Employees	1.15K	1.71K	1.75K	1.75K	-
Accumulated Allowance for Doubtful Accounts (Supple)	126M	171M	141M	148M	129M
Order Backlog	16B	19B	19.33B	20.13B	20.4B

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	1.13B	974M	1.1B	1.23B	800M
Depreciation & Amortization - CF	669M	662M	750M	715M	649M
Amortization of Goodwill and Intangible Assets - (CF)	186M	200M	200M	199M	187M
Depreciation & Amortization, Total	855M	862M	950M	914M	836M
Asset Writedown & Restructuring Costs	-27M	-25M	-15M	-	-
Other Operating Activities, Total	81M	29M	14M	52M	54M
Change In Accounts Receivable	-980M	-996M	-325M	-115M	378M
Change in Other Net Operating Assets	440M	198M	70M	-86M	152M
Cash from Operations	1.5B	1.04B	1.79B	1.99B	2.22B
Capital Expenditure	-87M	-112M	-147M	-107M	-83M
Sale of Property, Plant, and Equipment	44M	105M	3M	9M	6M
Cash Acquisitions	-1.16B	-857M	-468M	-99M	-229M
Divestitures	-	41M	-107M	3M	-
Sale (Purchase) of Intangible assets	-26M	-39M	-29M	-26M	-11M
Investment in Marketable and Equity Securities, Total	-	-	-	-60M	13M
Net (Increase) Decrease in Loans Originated / Sold - Investing	15M	-11M	-9M	-	-
Other Investing Activities, Total	-	-	1M	-103M	-25M
Cash from Investing	-1.21B	-873M	-756M	-383M	-329M
Long-Term Debt Issued, Total	2.14B	1.78B	4.37B	2.17B	305M
Total Debt Issued	2.14B	1.78B	4.37B	2.17B	305M
Long-Term Debt Repaid, Total	-1.37B	-2.12B	-4.52B	-2.87B	-1.3B
Total Debt Repaid	-1.37B	-2.12B	-4.52B	-2.87B	-1.3B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-205M	-	-	-	-
Common Dividends Paid	-566M	-623M	-623M	-623M	-680M
Common & Preferred Stock Dividends Paid	-566M	-623M	-623M	-623M	-680M
Other Financing Activities, Total	-7M	-57M	-171M	-148M	-
Cash from Financing	-12M	-1.01B	-942M	-1.47B	-1.68B
Foreign Exchange Rate Adjustments	-92M	-180M	-16M	-38M	-103M
Miscellaneous Cash Flow Adjustments	1M	-1M	-1M	-	-
Net Change in Cash	182M	-1.02B	79M	104M	108M
Supplemental Items
Cash Interest Paid	71M	130M	361M	368M	293M
Cash Income Tax Paid (Refund)	229M	385M	433M	379M	337M
Levered Free Cash Flow	1.08B	708M	1.63B	1.68B	2.21B
Unlevered Free Cash Flow	1.15B	822M	1.86B	1.91B	2.39B
Change In Net Working Capital	625M	941M	131M	178M	-665M
Net Debt Issued / Repaid	766M	-332M	-148M	-698M	-1B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.18	3.9	4.35	4.63	3.56
Return on Total Capital	5.84	5.45	6.06	6.42	4.96
Return On Equity %	10.75	8.41	8.93	9.65	6.23
Return on Common Equity	10.75	8.41	8.93	9.61	6.2
Margin Analysis
Gross Profit Margin %	19.5	17.95	18.84	18.94	18.06
SG&A Margin	8.03	8.05	8.73	8.6	9.41
EBITDA Margin %	9.67	8.45	8.42	8.87	7.28
EBITA Margin %	9.16	8	7.98	8.44	6.84
EBIT Margin %	8.23	7.15	7.24	7.7	6.11
Income From Continuing Operations Margin %	5.62	4.14	4.08	4.55	3.12
Net Income Margin %	5.62	4.14	4.08	4.52	3.11
Net Avail. For Common Margin %	5.62	4.14	4.08	4.52	3.11
Normalized Net Income Margin	4.75	3.91	3.74	4.12	2.97
Levered Free Cash Flow Margin	5.35	3.01	6.05	6.18	8.57
Unlevered Free Cash Flow Margin	5.73	3.49	6.91	7.03	9.28
Asset Turnover
Asset Turnover	0.81	0.87	0.96	0.96	0.93
Fixed Assets Turnover	7.63	9.87	12.32	14.47	15.61
Receivables Turnover (Average Receivables)	3.65	3.45	3.5	3.43	3.35
Short Term Liquidity
Current Ratio	1.15	1.08	1.11	1.23	1.04
Quick Ratio	1.12	1.06	1.08	1.2	1.01
Operating Cash Flow to Current Liabilities	0.19	0.12	0.2	0.24	0.24
Days Sales Outstanding (Average Receivables)	100.05	105.87	104.18	106.77	108.97
Average Days Payable Outstanding	21.86	22.5	20.57	17.16	14.44
Long Term Solvency
Total Debt/Equity	69.58	64.01	63.09	55.16	52.1
Total Debt / Total Capital	41.03	39.03	38.68	35.55	34.25
LT Debt/Equity	56.04	49.24	48.65	46.35	35.12
Long-Term Debt / Total Capital	33.05	30.02	29.83	29.88	23.09
Total Liabilities / Total Assets	57.58	56.5	55.79	53.54	53.11
EBIT / Interest Expense	13.57	9.25	5.25	5.65	5.38
EBITDA / Interest Expense	20.57	13.98	7.81	8.12	8.23
(EBITDA - Capex) / Interest Expense	19.86	13.37	7.41	7.84	7.95
Total Debt / EBITDA	3.05	3.06	2.71	2.41	2.74
Net Debt / EBITDA	2.21	2.64	2.3	1.99	2.17
Total Debt / (EBITDA - Capex)	3.16	3.2	2.85	2.5	2.84
Net Debt / (EBITDA - Capex)	2.29	2.76	2.43	2.06	2.25
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.86	17.15	14.55	0.67	-5.16
Gross Profit, 1 Yr. Growth %	18.07	7.83	20.25	1.2	-9.56
EBITDA, 1 Yr. Growth %	4.91	2.37	14.23	6.12	-22.25
EBITA, 1 Yr. Growth %	5.2	2.28	14.39	6.86	-23.22
EBIT, 1 Yr. Growth %	8.45	1.69	16.1	7.61	-24.86
Earnings From Cont. Operations, 1 Yr. Growth %	21.01	-13.73	12.94	12.27	-34.9
Net Income, 1 Yr. Growth %	21.01	-13.73	12.94	11.73	-34.91
Normalized Net Income, 1 Yr. Growth %	15.57	-3.53	9.36	11.69	-31.75
Diluted EPS Before Extra, 1 Yr. Growth %	20.27	-13.74	12.91	11.74	-34.89
Accounts Receivable, 1 Yr. Growth %	25.47	22.78	4.53	1.33	-7.17
Net Property, Plant and Equip., 1 Yr. Growth %	-12.23	-6.21	-10.35	-18.7	-3.86
Total Assets, 1 Yr. Growth %	10.17	8.04	0.63	0.47	-4.47
Tangible Book Value, 1 Yr. Growth %	10.66	11.82	-3.16	-15.37	-3.93
Common Equity, 1 Yr. Growth %	9.86	10.77	2.28	5.41	-3.44
Cash From Operations, 1 Yr. Growth %	-25.25	-30.44	72.17	11.15	11.33
Capital Expenditures, 1 Yr. Growth %	7.41	28.74	31.25	-27.21	-22.43
Levered Free Cash Flow, 1 Yr. Growth %	-53.47	-34.14	130.76	2.8	31.31
Unlevered Free Cash Flow, 1 Yr. Growth %	-52.26	-28.62	127.11	2.38	25.01
Dividend Per Share, 1 Yr. Growth %	10	0	0	9.09	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.79	11.36	15.84	7.39	-2.29
Gross Profit, 2 Yr. CAGR %	4.32	12.84	13.87	10.31	-4.33
EBITDA, 2 Yr. CAGR %	-0.69	3.63	8.11	10.05	-9.09
EBITA, 2 Yr. CAGR %	-0.86	3.73	8.17	10.3	-9.35
EBIT, 2 Yr. CAGR %	0.98	5.02	8.66	11.49	-9.99
Earnings From Cont. Operations, 2 Yr. CAGR %	17.27	2.17	-1.29	12.6	-14.51
Net Income, 2 Yr. CAGR %	17.27	2.17	-1.29	12.33	-14.72
Normalized Net Income, 2 Yr. CAGR %	3.12	5.59	2.71	10.17	-12.6
Diluted EPS Before Extra, 2 Yr. CAGR %	11.66	1.85	-1.31	12.32	-14.71
Accounts Receivable, 2 Yr. CAGR %	3.29	24.12	13.29	2.92	-3.01
Net Property, Plant and Equip., 2 Yr. CAGR %	-12.37	-9.27	-8.31	-14.63	-11.59
Total Assets, 2 Yr. CAGR %	3.11	9.1	4.27	0.55	-2.03
Tangible Book Value, 2 Yr. CAGR %	-12.5	11.24	4.06	-9.47	-9.83
Common Equity, 2 Yr. CAGR %	8.33	10.32	6.44	3.84	0.89
Cash From Operations, 2 Yr. CAGR %	-13.3	-27.89	9.43	38.33	11.24
Capital Expenditures, 2 Yr. CAGR %	-20.02	17.59	29.99	-2.26	-24.86
Levered Free Cash Flow, 2 Yr. CAGR %	-29.92	-44.64	23.2	54.1	16.27
Unlevered Free Cash Flow, 2 Yr. CAGR %	-29.07	-41.62	27.25	52.56	13.21
Dividend Per Share, 2 Yr. CAGR %	-	4.88	0	4.45	4.45
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	12.89	5.97	12.41	10.55	3.03
Gross Profit, 3 Yr. CAGR %	17.25	5.48	15.26	9.48	3.24
EBITDA, 3 Yr. CAGR %	12.07	0.32	7.03	7.41	-1.93
EBITA, 3 Yr. CAGR %	12.38	0.18	7.17	7.56	-2.19
EBIT, 3 Yr. CAGR %	10.01	1.22	8.59	8.12	-2.19
Earnings From Cont. Operations, 3 Yr. CAGR %	9.92	5.86	5.64	3.04	-6.19
Net Income, 3 Yr. CAGR %	9.92	5.86	5.64	2.87	-6.35
Normalized Net Income, 3 Yr. CAGR %	9.68	0.85	6.83	5.4	-6.01
Diluted EPS Before Extra, 3 Yr. CAGR %	-2.51	2.45	5.41	2.86	-6.35
Accounts Receivable, 3 Yr. CAGR %	13.44	9.42	17.21	9.15	-0.56
Net Property, Plant and Equip., 3 Yr. CAGR %	62.76	-10.36	-9.63	-11.91	-11.18
Total Assets, 3 Yr. CAGR %	25.19	4.72	6.2	2.99	-1.15
Tangible Book Value, 3 Yr. CAGR %	21.15	-5.05	6.21	-2.87	-7.66
Common Equity, 3 Yr. CAGR %	26.35	9.14	7.57	6.1	1.35
Cash From Operations, 3 Yr. CAGR %	19.67	-19.44	-3.62	10	28.68
Capital Expenditures, 3 Yr. CAGR %	-7.52	-6.27	21.98	7.14	-9.51
Levered Free Cash Flow, 3 Yr. CAGR %	11.66	-31.35	-10.95	16.03	46.17
Unlevered Free Cash Flow, 3 Yr. CAGR %	12.54	-28.92	-8.23	18.39	42.82
Dividend Per Share, 3 Yr. CAGR %	3.23	-	3.23	2.94	2.94
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	12.67	13.22	14.06	6.53	6.29
Gross Profit, 5 Yr. CAGR %	14.56	13.98	15.89	7.39	6.98
EBITDA, 5 Yr. CAGR %	12.23	11.42	10.47	4.1	0.25
EBITA, 5 Yr. CAGR %	12.14	11.68	10.68	4.11	0.14
EBIT, 5 Yr. CAGR %	10.82	10.3	9.47	5.21	0.63
Earnings From Cont. Operations, 5 Yr. CAGR %	9.69	5.59	5.29	8.51	-2.93
Net Income, 5 Yr. CAGR %	9.23	5.54	5.29	8.4	-3.03
Normalized Net Income, 5 Yr. CAGR %	9.42	8.69	6.83	4.48	-1.53
Diluted EPS Before Extra, 5 Yr. CAGR %	1.76	-1.72	-2.03	6.29	-3.15
Accounts Receivable, 5 Yr. CAGR %	13.49	14.88	13.38	6.77	8.66
Net Property, Plant and Equip., 5 Yr. CAGR %	38.91	35.26	29.38	-12.09	-10.42
Total Assets, 5 Yr. CAGR %	20.02	19.73	16.36	3.03	2.83
Tangible Book Value, 5 Yr. CAGR %	19.03	16.81	14	-6.84	-0.52
Common Equity, 5 Yr. CAGR %	18.64	19.62	17.98	6.98	4.85
Cash From Operations, 5 Yr. CAGR %	19.22	10.8	15.47	0.01	2.07
Capital Expenditures, 5 Yr. CAGR %	1.95	5.67	5.97	-4.68	0.49
Levered Free Cash Flow, 5 Yr. CAGR %	37.47	7.89	16.14	-5.16	-0.9
Unlevered Free Cash Flow, 5 Yr. CAGR %	36.52	9.83	18.2	-3.55	-0.17
Dividend Per Share, 5 Yr. CAGR %	4.1	1.92	1.92	-	3.71