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Cash flow statement - DKK (kr)
kr in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of cash flows [abstract]      
Net profit kr 100,988 kr 83,683 kr 55,525
Adjustment of non-cash items:      
Income taxes in the income statement 26,203 20,991 13,537
Depreciation, amortisation and impairment losses 19,107 9,413 7,362
Other non-cash items 15,029 33,517 22,509
Changes in working capital (11,995) (13,380) (5,535)
Interest received 1,884 1,072 276
Interest paid (612) (491) (272)
Income taxes paid (29,636) (25,897) (14,515)
Net cash flows from operating activities 120,968 108,908 78,887
Purchase of intangible assets (4,145) (13,090) (2,607)
Purchase of property, plant and equipment (47,164) (25,806) (12,146)
Cash used for acquisition of businesses (82,163) 0 (7,075)
Proceeds from other financial assets 0 33 0
Purchase of other financial assets (786) (271) (169)
Purchase of marketable securities (19,028) (13,018) (9,566)
Sale of marketable securities 24,391 8,260 6,645
Net cash flows from investing activities (128,895) (43,892) (24,918)
Purchase of treasury shares (20,181) (29,924) (24,086)
Dividends paid (44,140) (31,767) (25,303)
Proceeds from borrowings 79,391 0 11,215
Repayment of borrowings (6,335) (1,467) (13,623)
Net cash flows from financing activities 8,735 (63,158) (51,797)
Net cash generated from activities 808 1,858 2,172
Cash and cash equivalents at the beginning of the year 14,392 12,653 10,719
Exchange gains/(losses) on cash and cash equivalents 455 (119) (238)
Cash and cash equivalents at the end of the year kr 15,655 kr 14,392 kr 12,653