| Schedule of Operating activities |
| Schedule of Operating activities |
|
|
|
|
|
|
|
|
| |
|
For the
year ended
December 31, |
|
| (SEK in thousands) |
|
2025 |
|
|
2024 |
|
| Adjustments for non-cash items |
|
|
|
|
|
|
|
|
| Depreciation |
|
|
130,802 |
|
|
|
129,022 |
|
| Depreciation of right-of-use assets |
|
|
96,694 |
|
|
|
96,940 |
|
| Amortization |
|
|
312 |
|
|
|
1,056 |
|
| Loss from disposal of property, plant, and equipment |
|
|
5,321 |
|
|
|
- |
|
| Capital gains from the sale of non-current assets |
|
|
- |
|
|
|
(8,985 |
) |
| Share-based payment expense |
|
|
15,629 |
|
|
|
10,171 |
|
| Unrealized exchange differences |
|
|
77,903 |
|
|
|
(1,926 |
) |
| Finance income |
|
|
(5,080 |
) |
|
|
(65,615 |
) |
| Finance costs |
|
|
588,646 |
|
|
|
224,345 |
|
| Provision |
|
|
12,332 |
|
|
|
- |
|
| Fair value loss/(gain) on financial assets or liabilities measured at fair value through profit or loss |
|
|
129,262 |
|
|
|
(51,832 |
) |
| Share of results of joint venture |
|
|
(1,430 |
) |
|
|
(282 |
) |
| Total non-cash adjustments |
|
|
1,050,391 |
|
|
|
332,894 |
|
| |
|
|
|
|
|
|
|
|
| |
|
For the
year ended
December 31, |
|
| (SEK in thousands) |
|
2025 |
|
|
2024 |
|
| Net changes in working capital |
|
|
|
|
|
|
|
|
| (Increase)/decrease in trade receivables |
|
|
10,571 |
|
|
|
23,153 |
|
| (Increase)/decrease in prepaid expenses |
|
|
3,899 |
|
|
|
(5,152 |
) |
| (Increase)/decrease in accrued income |
|
|
(1,789 |
) |
|
|
(7,964 |
) |
| (Increase)/decrease in other receivables |
|
|
(22,174 |
) |
|
|
173,091 |
|
| Increase/(decrease) in trade and other payables |
|
|
(52,186 |
) |
|
|
96,414 |
|
| Increase/(decrease) in accrued expense |
|
|
69,950 |
|
|
|
(15,219 |
) |
| Increase/(decrease) in deferred income |
|
|
3,193 |
|
|
|
9,395 |
|
| Increase/(decrease) in other liabilities |
|
|
30,577 |
|
|
|
11,831 |
|
| Net changes in working capital |
|
|
42,041 |
|
|
|
285,549 |
|
|
| Schedule of cash flows from financing activities |
| Schedule of cash flows from financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Non-cash changes |
|
|
|
|
|
|
|
| (SEK in thousands) |
|
January 1,
2025 |
|
|
Financing
cash flow |
|
|
Fair value
adjustments |
|
|
New lease
agreements |
|
|
Other
changes |
|
|
December 31,
2025 |
|
| Note |
|
|
|
|
(i) |
|
|
25 |
|
|
(iii) |
|
|
(ii) |
|
|
|
|
| Loans and borrowings (current and non-current) |
|
|
- |
|
|
|
16,743 |
|
|
|
- |
|
|
|
- |
|
|
|
(503 |
) |
|
|
16,240 |
|
| Convertible debenture |
|
|
379,795 |
|
|
|
246,912 |
|
|
|
- |
|
|
|
- |
|
|
|
(418,991 |
) |
|
|
207,716 |
|
| Lease liabilities (current and non-current) |
|
|
641,507 |
|
|
|
(137,218 |
) |
|
|
- |
|
|
|
155,324 |
|
|
|
(17,060 |
) |
|
|
642,553 |
|
| Liabilities associated with cash advances |
|
|
166,216 |
|
|
|
205,236 |
|
|
|
- |
|
|
|
- |
|
|
|
(16,610 |
) |
|
|
354,842 |
|
| Other financial liabilities (embedded derivative - convertible debentures) |
|
|
- |
|
|
|
- |
|
|
|
4,603 |
|
|
|
- |
|
|
|
- |
|
|
|
4,603 |
|
| Other financial liabilities (derivative instruments - warrants) |
|
|
1,432 |
|
|
|
- |
|
|
|
124,659 |
|
|
|
- |
|
|
|
2,289 |
|
|
|
128,381 |
|
| Total liabilities from financing activities |
|
|
1,188,950 |
|
|
|
331,673 |
|
|
|
129,262 |
|
|
|
155,324 |
|
|
|
(450,874 |
) |
|
|
1,354,335 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Non-cash changes |
|
|
|
|
|
|
|
| (SEK in thousands) |
|
January 1,
2024 |
|
|
Financing
cash flow |
|
|
Fair value
adjustments |
|
|
New lease
agreements |
|
|
Other
changes |
|
|
December 31,
2024 |
|
| Note |
|
|
|
|
(i) |
|
|
25 |
|
|
|
|
|
(ii) |
|
|
|
|
| Loans and borrowings (current and non-current) |
|
|
257,424 |
|
|
|
(309,456 |
) |
|
|
55,926 |
|
|
|
- |
|
|
|
(3,894 |
) |
|
|
- |
|
| Convertible debenture |
|
|
- |
|
|
|
319,887 |
|
|
|
- |
|
|
|
- |
|
|
|
59,908 |
|
|
|
379,795 |
|
| Lease liabilities (current and non-current) |
|
|
539,080 |
|
|
|
(121,975 |
) |
|
|
- |
|
|
|
84,768 |
|
|
|
139,634 |
|
|
|
641,507 |
|
| Liabilities associated with cash advances |
|
|
- |
|
|
|
211,147 |
|
|
|
- |
|
|
|
- |
|
|
|
(44,931 |
) |
|
|
166,216 |
|
| Other financial liabilities (derivatives) |
|
|
48,814 |
|
|
|
(3,787 |
) |
|
|
(89,911 |
) |
|
|
- |
|
|
|
46,316 |
|
|
|
1,432 |
|
| Total liabilities from financing activities |
|
|
845,318 |
|
|
|
95,816 |
|
|
|
(33,985 |
) |
|
|
84,768 |
|
|
|
197,033 |
|
|
|
1,188,950 |
|
| (i) |
Cash flows from Loans and borrowings (current and non-current), Convertible debenture, Lease liabilities (current and non-current) and Other financial liabilities (derivatives) represent the net amount of cash from borrowing and repayment of borrowings in the Consolidated Statements of Cash Flows. |
| (ii) |
Other changes include changes in exchange rates, accrued interest, remeasurements of the lease liabilities, and reduction in factoring liabilities. |
| (iii) |
In 2025, the Group entered into new lease agreements as part of its operations, with the largest lease relating to a charging station with an acquisition value of SEK 26,828 thousand. |
|