Cash flow Cloudberry Clean Energy ASA

Equities

CLOUD

NO0010876642

Independent Power Producers

Real-time Oslo Bors Other stock markets 04:00:26 2026-03-12 EDT			5-day change	1st Jan Change
13.32 ^NOK	+2.15%		-2.40%	+1.40%

02-10	Cloudberry Clean Energy ASA Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2025	CI
02-10	Cloudberry Clean Energy ASA, Q4 2025 Earnings Call, Feb 10, 2026

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Published financial data: CLOUDBERRY CLEAN ENERGY ASA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues - (Utility Template)	3.63M	35.15M	208M	333M	382M
Other Revenues, Total	7K	946K	1M	-	-
Total Revenues	3.64M	36.1M	209M	333M	382M
Selling General & Admin Expenses, Total	1.84M	6.92M	28M	23M	16M
Depreciation & Amortization - (IS) - (Collected)	3.29M	9.75M	35M	109M	175M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	18M	-9M
Other Operating Expenses	28.06M	81.96M	158M	246M	227M
Total Operating Expenses	33.19M	98.63M	221M	396M	409M
Operating Income (REIT / Utility Template)	-29.55M	-62.53M	-12M	-63M	-27M
Interest Expense, Total	-841K	-5.2M	-10M	-58M	-87M
Interest and Investment Income	924K	653K	11M	28M	33M
Net Interest Expenses	83K	-4.55M	1M	-30M	-54M
Income (Loss) on Equity Invest.	-3.56M	16.37M	120M	-72M	51M
Currency Exchange Gains (Loss)	-	-	-1M	68M	18M
Other Non Operating Income (Expenses)	-1.22M	-17.74M	5M	147M	28M
EBT, Excl. Unusual Items	-34.25M	-68.45M	113M	50M	16M
Gain (Loss) on Sale of Assets	-	-	8M	271M	118M
Asset Writedown	-	-	-	-99M	-
Insurance Settlements	-	4.8M	-	-	-
EBT, Incl. Unusual Items	-34.25M	-63.65M	121M	222M	134M
Income Tax Expense	-387K	-609K	-	-11M	10M
Earnings From Continuing Operations	-33.86M	-63.04M	121M	233M	124M
Net Income to Company	-33.86M	-63.04M	121M	233M	124M
Minority Interest	-	-	-3M	39M	-28M
Net Income - (IS)	-33.86M	-63.04M	118M	272M	96M
Net Income to Common Incl Extra Items	-33.86M	-63.04M	118M	272M	96M
Net Income to Common Excl. Extra Items	-33.86M	-63.04M	118M	272M	96M
Per Share Items
Net EPS - Basic	-0.87	-0.4	0.47	0.93	0.33
Basic EPS - Continuing Operations	-0.87	-0.4	0.47	0.93	0.33
Basic Weighted Average Shares Outstanding	39.1M	156M	253M	291M	290M
Net EPS - Diluted	-0.87	-0.4	0.47	0.93	0.33
Diluted EPS - Continuing Operations	-0.87	-0.4	0.47	0.93	0.33
Diluted Weighted Average Shares Outstanding	39.1M	156M	254M	292M	291M
Normalized Basic EPS	-0.55	-0.27	0.27	0.24	-0.06
Normalized Diluted EPS	-0.55	-0.27	0.27	0.24	-0.06
Supplemental Items
Utility Revenues	3.63M	35.15M	208M	333M	382M
Non Utility Revenues	7K	5.75M	9M	277M	166M
EBITDA	-27.12M	-53.83M	11M	32M	125M
EBITA	-29.55M	-62.53M	-12M	-63M	-27M
EBIT	-29.55M	-62.53M	-12M	-63M	-27M
EBITDAR	-26.53M	-46.91M	39M	55M	141M
Total Revenues (As Reported)	3.64M	40.9M	217M	610M	548M
Effective Tax Rate - (Ratio)	1.13	0.96	-	-4.95	7.46
Total Deferred Taxes	-387K	-609K	-	-	-
Normalized Net Income	-21.41M	-42.78M	67.62M	70.25M	-18M
Interest Capitalized	1.74M	3.98M	12M	3M	2M
Interest on Long-Term Debt	1.89M	4.14M	13M	-	-
Supplemental Operating Expense Items
Net Rental Expense, Total	591K	6.92M	28M	23M	16M
Imputed Operating Lease Interest Expense	-	1.77M	14.28M	11.2M	6.31M
Imputed Operating Lease Depreciation	-	5.16M	13.72M	11.8M	9.69M
Stock-Based Comp., SG&A Exp. (Total)	1.25M	5.26M	24.78B	24M	17M
Stock-Based Comp., Other (Total)	209K	-	-	-	-
Total Stock-Based Compensation	1.46M	5.26M	24.78B	24M	17M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	605M	1.11B	1.54B	779M	874M
Accounts Receivable, Total	2.83M	12.03M	52M	61M	59M
Other Receivables	-	-	-	-	-
Accounts Receivable (Summary Subtotal)	2.83M	12.03M	52M	61M	59M
Inventory - (Utility Template)	196M	154M	106M	99M	152M
Other Current Assets, Total	158M	103M	86M	260M	30M
Total Current Assets	962M	1.38B	1.78B	1.2B	1.12B
Gross Property Plant And Equipment	71.78M	1.08B	1.71B	4.27B	4.59B
Accumulated Depreciation	-13.35M	-73.1M	-113M	-274M	-414M
Net Property Plant And Equipment	58.43M	1.01B	1.6B	4B	4.17B
Goodwill	36.93M	38.22M	143M	206M	208M
Other Intangibles, Total	-	-	86M	24M	5M
Long-Term Investments - (Utility Template)	338M	681M	956M	1.22B	1.48B
Other Long-Term Assets, Total	1.32M	6.58M	39M	44M	48M
Total Assets	1.4B	3.12B	4.6B	6.69B	7.03B
Liabilities
Accounts Payable, Total	24.88M	37.3M	131M	142M	22M
Accrued Expenses, Total	-	-	65M	45M	30M
Short-Term Borrowings	237M	-	-	-	-
Current Portion of Long-Term Debt	-	10.1M	12M	78M	98M
Current Portion of Leases	1.1M	1.17M	7M	7M	16M
Other Current Liabilities - (Bank / Utility Template)	20.12M	42.31M	68M	92M	38M
Total Current Liabilities	283M	90.88M	283M	364M	204M
Long-Term Debt	26.44M	294M	327M	1.51B	1.85B
Long-Term Leases	3.3M	3.42M	36M	30M	24M
Deferred Tax Liability Non-Current	13.67M	83.06M	127M	59M	55M
Other Non Current Liabilities, Total	15.87M	10.75M	36M	115M	116M
Total Liabilities	342M	482M	809M	2.08B	2.25B
Common Stock, Total	26.27M	58.81M	73M	73M	72M
Additional Paid In Capital	1.06B	2.68B	3.5B	3.5B	3.5B
Retained Earnings	-32.85M	-95.88M	22M	296M	362M
Treasury Stock	-	-	-	-29M	-
Comprehensive Income and Other	-383K	-2.8M	124M	95M	174M
Total Common Equity	1.05B	2.64B	3.71B	3.93B	4.1B
Minority Interest	-	-	80M	685M	671M
Total Equity	1.05B	2.64B	3.79B	4.62B	4.78B
Total Liabilities And Equity	1.4B	3.12B	4.6B	6.69B	7.03B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	105M	235M	291M	289M	289M
ECS Total Common Shares Outstanding	105M	235M	291M	289M	289M
Book Value / Share	10.04	11.21	12.75	13.62	14.22
Tangible Book Value	1.02B	2.6B	3.48B	3.7B	3.89B
Tangible Book Value Per Share	9.69	11.04	11.96	12.83	13.48
Total Debt	268M	309M	382M	1.62B	1.99B
Net Debt	-338M	-806M	-1.16B	843M	1.12B
Debt Equivalent Oper. Leases	4.73M	55.4M	224M	184M	128M
Minority Interest, Total (Incl. Fin. Div)	-	-	80M	685M	671M
Equity Method Investments, Total	337M	677M	890M	1.18B	1.42B
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	196M	154M	106M	99M	152M
Inventories - Others	8K	-	-	-	-
Machinery, Total	60.62M	821M	1.55B	3.38B	4.36B
Full Time Employees	10	14	62	67	50

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-33.86M	-63.04M	118M	272M	96M
Depreciation, Depletion & Amortization	3.29M	9.75M	28M	108M	166M
Total Depreciation, Depletion & Amortization	3.29M	9.75M	28M	108M	166M
Amortization of Deferred Charges, Total	-	-	8M	18M	-
(Gain) Loss On Sale of Asset - (CF)	-	-	-9M	-272M	-118M
Total Asset Writedown	-	-	-1M	99M	-
(Income) Loss On Equity Investments - (CF)	3.56M	-16.37M	-120M	72M	-51M
Stock-Based Compensation (CF)	-	4.39M	26M	24M	17M
Change in Accounts Receivable	5.48M	-8.79M	-25M	4M	-4M
Change In Inventories	-6.1M	-9.24M	-	-	-
Change in Accounts Payable	6.13M	12.37M	88M	7M	-81M
Change in Other Net Operating Assets (Collected)	17.96M	-10.71M	-88M	-18M	154M
Other Operating Activities	-759K	10.93M	18M	-90M	70M
Cash from Operations	-4.31M	-70.72M	43M	224M	249M
Capital Expenditure	-2.84M	-180M	-304M	-535M	-276M
Sale of Property, Plant, and Equipment	-	-	60M	684M	320M
Cash Acquisitions	-11.69M	-318M	-70M	-2.01B	-113M
Divestitures	-	-	-	-23M	-34M
Investment in Marketable and Equity Securities, Total	-341M	-332M	-75M	-14M	-207M
Other Investing Activities, Total	985K	653K	10M	88M	65M
Cash from Investing	-354M	-829M	-379M	-1.81B	-245M
Short Term Debt Issued, Total	237M	-	-	-	-
Long-Term Debt Issued, Total	-	226M	116M	1.2B	471M
Total Debt Issued	237M	226M	116M	1.2B	471M
Short Term Debt Repaid, Total	-	-237M	-13M	-54M	-86M
Long-Term Debt Repaid, Total	-29.37M	-284M	-154M	-213M	-135M
Total Debt Repaid	-29.37M	-520M	-167M	-267M	-221M
Issuance of Common Stock	906M	1.65B	767M	1M	1M
Repurchase of Common Stock	-	-	-	-29M	-
Other Financing Activities, Total	-155M	58.41M	44M	-75M	-165M
Cash from Financing	958M	1.41B	760M	830M	86M
Foreign Exchange Rate Adjustments	47K	-1.87M	-1M	-3M	5M
Miscellaneous Cash Flow Adjustments	-1K	1K	-	-	-
Net Change in Cash	600M	510M	423M	-759M	95M
Supplemental Items
Cash Interest Paid	2.55M	9.18M	23M	57M	89M
Net Debt Issued / Repaid	207M	-294M	-51M	933M	250M
Levered Free Cash Flow	-329M	-83.57M	24.71B	-622M	-174M
Unlevered Free Cash Flow	-329M	-80.32M	24.71B	-585M	-120M
Change In Net Working Capital	312M	-123M	-208M	161M	10M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-2.63	-1.73	-0.19	-0.7	-0.25
Return on Total Capital	-2.78	-1.83	-0.21	-0.76	-0.26
Return On Equity %	-6.39	-3.42	3.76	5.54	2.64
Return on Common Equity	-6.39	-3.42	3.72	7.12	2.39
Margin Analysis
Gross Profit Margin %	96.07	84.91	93.3	92.19	91.36
SG&A Margin	437.94	97.04	56.94	42.64	36.13
EBITDA Margin %	-745.14	-149.12	5.26	9.61	32.72
EBITA Margin %	-811.92	-173.23	-5.74	-18.92	-7.07
EBIT Margin %	-811.92	-173.23	-5.74	-18.92	-7.07
Income From Continuing Operations Margin %	-930.36	-174.63	57.89	69.97	32.46
Net Income Margin %	-930.36	-174.63	56.46	81.68	25.13
Net Avail. For Common Margin %	-930.36	-174.63	56.46	81.68	25.13
Normalized Net Income Margin	-588.12	-118.51	32.36	21.1	-4.71
Levered Free Cash Flow Margin	-9.05K	-231.51	11.82K	-186.67	-45.62
Unlevered Free Cash Flow Margin	-9.04K	-222.5	11.82K	-175.79	-31.38
Asset Turnover
Asset Turnover	0.01	0.02	0.05	0.06	0.06
Fixed Assets Turnover	0.12	0.07	0.16	0.12	0.09
Receivables Turnover (Average Receivables)	-	4.73	6.5	5.89	6.37
Inventory Turnover (Average Inventory)	-	0.03	0.11	0.25	0.26
Short Term Liquidity
Current Ratio	3.4	15.22	6.3	3.29	5.47
Quick Ratio	2.15	12.4	5.62	2.31	4.57
Operating Cash Flow to Current Liabilities	-0.02	-0.78	0.15	0.62	1.22
Days Sales Outstanding (Average Receivables)	-	77.15	56.15	61.93	57.49
Days Outstanding Inventory (Average Inventory)	-	11.71K	3.39K	1.44K	1.39K
Average Days Payable Outstanding	-	-306.66	-901.76	2.62K	348.98
Cash Conversion Cycle (Average Days)	-	12.1K	4.35K	-1.12K	1.1K
Long Term Solvency
Total Debt/Equity	25.37	11.71	10.07	35.14	41.69
Total Debt / Total Capital	20.24	10.48	9.15	26	29.42
LT Debt/Equity	2.82	11.29	9.57	33.3	39.3
Long-Term Debt / Total Capital	2.25	10.1	8.69	24.64	27.74
Total Liabilities / Total Assets	24.49	15.46	17.58	31.01	32.04
EBIT / Interest Expense	-35.14	-12.02	-1.2	-1.09	-0.31
EBITDA / Interest Expense	-31.23	-10.14	1.6	0.78	1.6
(EBITDA - Capex) / Interest Expense	-34.61	-44.64	-28.8	-8.45	-1.57
Total Debt / EBITDA	-10.19	-5.85	23.88	36.04	14.32
Net Debt / EBITDA	12.85	15.27	-72.25	18.73	8.04
Total Debt / (EBITDA - Capex)	-9.19	-1.33	-1.33	-3.31	-14.53
Net Debt / (EBITDA - Capex)	11.6	3.47	4.01	-1.72	-8.15
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.2K	891.7	409.76	60.1	14.71
Gross Profit, 1 Yr. Growth %	1.29K	776.49	441.67	58.25	13.68
EBITDA, 1 Yr. Growth %	940.79	98.47	-122.92	88.24	278.79
EBITA, 1 Yr. Growth %	1.03K	111.59	-78.95	384.62	-57.14
EBIT, 1 Yr. Growth %	1.03K	111.59	-78.95	384.62	-57.14
Earnings From Cont. Operations, 1 Yr. Growth %	1.2K	86.14	-292.06	92.56	-46.78
Net Income, 1 Yr. Growth %	1.2K	86.14	-287.3	130.51	-64.71
Diluted EPS Before Extra, 1 Yr. Growth %	-91.26	-53.51	-215.24	99.63	-64.52
Normalized Net Income, 1 Yr. Growth %	1.21K	99.83	-269.06	3.88	-125.62
Net Property, Plant and Equip., 1 Yr. Growth %	531K	1.63K	58.28	150.28	4.38
Inventory, 1 Yr. Growth %	-	-21.66	-31.17	-6.6	53.54
Accounts Receivable, 1 Yr. Growth %	-	325.5	333.33	17.31	-3.28
Total Assets, 1 Yr. Growth %	26.24K	123.24	47.63	45.36	5.04
Tangible Book Value, 1 Yr. Growth %	20.98K	155.26	34.14	6.2	5.16
Cash From Operations, 1 Yr. Growth %	48.45	1.54K	-170.49	420.93	11.16
Capital Expenditures, 1 Yr. Growth %	-	6.22K	68.89	75.99	-48.41
Levered Free Cash Flow, 1 Yr. Growth %	16.96K	-74.74	377.31	1.13K	-71.97
Unlevered Free Cash Flow, 1 Yr. Growth %	16.94K	-75.69	377.14	1.23K	-79.52
Common Equity, 1 Yr. Growth %	21.74K	149.94	40.9	5.84	4.43
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	312.15	1.04K	657.74	184.99	35.52
Gross Profit, 2 Yr. CAGR %	341.93	1K	646.74	192.02	34.13
EBITDA, 2 Yr. CAGR %	293.26	354.49	-36.32	-18.35	171.16
EBITA, 2 Yr. CAGR %	310.15	389.2	-36.28	5.13	44.12
EBIT, 2 Yr. CAGR %	310.15	389.2	-36.28	5.13	44.12
Earnings From Cont. Operations, 2 Yr. CAGR %	337.71	391.55	89.02	92.31	1.23
Net Income, 2 Yr. CAGR %	337.71	391.55	86.67	107.78	-9.8
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-79.84	-26.82	51.67	-15.84
Normalized Net Income, 2 Yr. CAGR %	340.2	412.2	77.73	32.52	-48.41
Net Property, Plant and Equip., 2 Yr. CAGR %	5.65K	30.19K	422.82	99.03	61.63
Inventory, 2 Yr. CAGR %	-	-	-26.47	-19.82	19.75
Accounts Receivable, 2 Yr. CAGR %	-	-	328.81	125.46	6.52
Total Assets, 2 Yr. CAGR %	7.05K	2.32K	81.53	46.49	23.56
Common Equity, 2 Yr. CAGR %	4.23K	2.24K	87.65	22.12	5.13
Tangible Book Value, 2 Yr. CAGR %	4.15K	2.22K	85.04	19.35	5.68
Cash From Operations, 2 Yr. CAGR %	93.09	393.32	215.71	91.63	140.64
Capital Expenditures, 2 Yr. CAGR %	1.15K	-	934.25	72.4	-4.72
Levered Free Cash Flow, 2 Yr. CAGR %	-	557.95	764.1	-65.35	85.99
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	545.12	764.9	-66.38	64.82
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	452.28	808.2	350.59	110.42
Gross Profit, 3 Yr. CAGR %	-	455.24	818.07	344.44	113.23
EBITDA, 3 Yr. CAGR %	-	213.1	61.61	5.67	37.58
EBITA, 3 Yr. CAGR %	-	228.95	66.22	28.7	-22.05
EBIT, 3 Yr. CAGR %	-	228.95	66.22	28.7	-22.05
Earnings From Cont. Operations, 3 Yr. CAGR %	-	229.16	259.28	90.2	25.32
Net Income, 3 Yr. CAGR %	-	229.16	256.29	100.27	15.07
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-63.96	2.25	-6.54
Normalized Net Income, 3 Yr. CAGR %	-	238.32	246.14	48.6	-23.37
Net Property, Plant and Equip., 3 Yr. CAGR %	-	3.75K	5.16K	308.99	60.5
Inventory, 3 Yr. CAGR %	-	-	-	-20.36	-0.43
Accounts Receivable, 3 Yr. CAGR %	-	-	-	178.37	70.04
Total Assets, 3 Yr. CAGR %	-	2.15K	853.85	68.57	31.11
Common Equity, 3 Yr. CAGR %	-	1.57K	816.21	55.04	15.91
Tangible Book Value, 3 Yr. CAGR %	-	1.57K	796.98	53.78	14.42
Cash From Operations, 3 Yr. CAGR %	-	293.91	145.5	273.07	59.82
Capital Expenditures, 3 Yr. CAGR %	-	2.04K	-	473.12	15.31
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	2.24K	23.39	-67.71
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	2.24K	21.01	-71.5
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	334.8	323.93
Gross Profit, 5 Yr. CAGR %	-	-	-	343.43	324.9
EBITDA, 5 Yr. CAGR %	-	-	-	78.75	116.86
EBITA, 5 Yr. CAGR %	-	-	-	104.61	59.53
EBIT, 5 Yr. CAGR %	-	-	-	104.61	59.53
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	165.46	116.47
Net Income, 5 Yr. CAGR %	-	-	-	173.8	105.66
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	-49.4
Normalized Net Income, 5 Yr. CAGR %	-	-	-	129.44	61.65
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	1.08K	1.21K
Total Assets, 5 Yr. CAGR %	-	-	-	654.85	321.16
Common Equity, 5 Yr. CAGR %	-	-	-	487.39	285.38
Tangible Book Value, 5 Yr. CAGR %	-	-	-	480.35	281.3
Cash From Operations, 5 Yr. CAGR %	-	-	-	186.67	143.55
Capital Expenditures, 5 Yr. CAGR %	-	-	-	682.59	-
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	146.09
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	128.37