2S Metal PCL Cash Flow Statement

Financials in millions THB. Fiscal year is January - December.

Millions THB. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	144.53	23.58	160.08	-122.18	737.52
Depreciation & Amortization	62.06	59.18	54.67	50.08	48.53
Other Amortization	0.11	0.26	0.36	0.43	0.48
Loss (Gain) From Sale of Assets	-0.87	0.28	0.72	0.99	0.02
Asset Writedown & Restructuring Costs	-	-	15.09	-	-
Provision & Write-off of Bad Debts	18.84	1.46	-1.06	-0.72	-2.84
Other Operating Activities	-3.19	-16.03	-9.13	-71.59	30.57
Change in Accounts Receivable	-3.74	-42.32	-9.57	36.12	-85.33
Change in Inventory	-261.7	35.86	-146.69	437.22	-56.12
Change in Accounts Payable	174.67	-16.19	32.37	15.7	-118.86
Change in Income Taxes	1.7	4.91	5.23	-6.21	-2.25
Change in Other Net Operating Assets	-21.87	13.24	-0.69	-17.36	22.47
Operating Cash Flow	110.54	64.23	101.38	322.48	574.19
Operating Cash Flow Growth	72.11%	-36.65%	-68.56%	-43.84%	87.79%
Capital Expenditures	-38.33	-63.88	-40.75	-93.5	-33.96
Sale of Property, Plant & Equipment	1.01	0.2	0.29	0.09	0.1
Sale (Purchase) of Intangibles	-	-	-	-0	-1.26
Other Investing Activities	3.27	4.51	3.62	3.08	73.11
Investing Cash Flow	-34.05	-59.17	-36.84	-90.33	37.99
Short-Term Debt Issued	-	-	-	150	-
Total Debt Issued	-	-	-	150	-
Short-Term Debt Repaid	-	-	-150	-	-176.24
Long-Term Debt Repaid	-2.51	-1.89	-2.38	-1.48	-2.78
Total Debt Repaid	-2.51	-1.89	-152.38	-1.48	-179.02
Net Debt Issued (Repaid)	-2.51	-1.89	-152.38	148.52	-179.02
Issuance of Common Stock	-	-	-	-	50
Common Dividends Paid	-66	-104.5	-165	-135	-262.5
Financing Cash Flow	-68.51	-106.39	-317.38	13.52	-391.51
Foreign Exchange Rate Adjustments	0.06	-0.26	-0.57	-2.97	-0.18
Net Cash Flow	8.04	-101.6	-253.4	242.7	220.48
Free Cash Flow	72.21	0.35	60.63	228.99	540.23
Free Cash Flow Growth	20829.85%	-99.43%	-73.52%	-57.61%	158.86%
Free Cash Flow Margin	0.96%	0.01%	0.90%	3.41%	8.29%
Free Cash Flow Per Share	0.13	0.00	0.11	0.42	0.98
Cash Interest Paid	1.82	0.76	0.29	0.56	1.88
Cash Income Tax Paid	38.64	28.71	6.44	64.86	170.78
Levered Free Cash Flow	-1.07	-23.88	-13.95	262.28	378.52
Unlevered Free Cash Flow	0.06	-23.41	-13.78	262.64	379.59
Change in Working Capital	-110.93	-4.5	-119.35	465.47	-240.09

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.