CP ALL PCL Cash Flow Statement

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

Millions THB. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	29,739	28,206	25,346	18,482	13,272	12,985
Depreciation & Amortization	35,817	35,798	34,968	34,492	34,889	23,623
Other Amortization	1,979	1,979	2,237	2,090	1,655	863
Loss (Gain) From Sale of Assets	248.12	214.07	110.28	-365.54	-87.56	-1,267
Asset Writedown & Restructuring Costs	128.1	402.91	670.31	427.26	87.08	7,336
Loss (Gain) on Equity Investments	-654.05	-580.12	-672.76	-746.23	-831.42	-118.77
Provision & Write-off of Bad Debts	49.66	31.53	-35.98	-144.47	-85.04	365.63
Other Operating Activities	18,867	18,801	19,464	19,949	18,498	3,602
Change in Accounts Receivable	-882.83	-627.49	-502.13	411.22	-179.8	-901.12
Change in Inventory	-4,634	-12,045	-3,307	346.63	-7,718	-6,619
Change in Accounts Payable	2,329	5,878	97.51	12,470	9,264	11,796
Change in Unearned Revenue	-32.77	5.99	142.23	71.05	-285.8	-141.99
Change in Other Net Operating Assets	-5,161	-3,808	-2,347	-311.68	1,396	-5,204
Operating Cash Flow	77,792	74,255	76,169	87,172	69,873	46,319
Operating Cash Flow Growth	-1.16%	-2.51%	-12.62%	24.76%	50.85%	18.32%
Capital Expenditures	-24,613	-24,475	-22,915	-24,270	-25,698	-14,072
Sale of Property, Plant & Equipment	336.51	305.37	207.22	606.25	473.29	263.45
Cash Acquisitions	-7,690	-6,896	-	-	-	-
Divestitures	-	-	-	-	-	19,140
Sale (Purchase) of Intangibles	-2,442	-2,458	-2,269	-2,927	-4,049	-2,119
Sale (Purchase) of Real Estate	-3,983	-3,420	-3,613	-874.87	-1,263	-65.6
Investment in Securities	-212.75	-449.09	-942.19	-489.82	-155.27	-120.64
Other Investing Activities	841.77	376.68	581.52	-110.64	185.76	-1,148
Investing Cash Flow	-37,763	-37,017	-28,951	-28,067	-30,506	1,878
Short-Term Debt Issued	-	8,358	-	-	45.5	13,272
Long-Term Debt Issued	-	54,011	47,562	71,757	50,235	92,823
Total Debt Issued	56,032	62,369	47,562	71,757	50,280	106,095
Short-Term Debt Repaid	-	-	-8,263	-7,711	-26,104	-6.01
Long-Term Debt Repaid	-	-70,832	-75,507	-101,907	-61,490	-117,544
Total Debt Repaid	-72,438	-70,832	-83,770	-109,618	-87,594	-117,550
Net Debt Issued (Repaid)	-16,406	-8,463	-36,208	-37,861	-37,314	-11,454
Issuance of Common Stock	-	-	-	-	-	9,955
Repurchase of Common Stock	-3,359	-3,359	-	-	-10,000	-10,000
Common Dividends Paid	-12,128	-12,128	-8,982	-7,197	-6,350	-9,085
Other Financing Activities	-13,899	-14,419	-14,714	-17,930	-10,649	28,094
Financing Cash Flow	-45,793	-38,370	-59,904	-62,988	-64,312	7,510
Foreign Exchange Rate Adjustments	30.16	-274.5	64.27	-307.53	46.38	26.44
Net Cash Flow	-5,734	-1,406	-12,621	-4,190	-24,898	55,733
Free Cash Flow	53,179	49,781	53,254	62,902	44,176	32,247
Free Cash Flow Growth	-5.07%	-6.52%	-15.34%	42.39%	36.99%	35.72%
Free Cash Flow Margin	5.13%	4.87%	5.39%	6.83%	5.18%	5.51%
Free Cash Flow Per Share	5.95	5.56	5.93	7.00	4.92	3.59
Cash Interest Paid	11,307	11,501	12,200	12,210	12,263	8,617
Cash Income Tax Paid	7,517	7,677	5,947	4,859	5,164	3,882
Levered Free Cash Flow	28,346	25,991	29,955	35,510	21,592	35,657
Unlevered Free Cash Flow	37,546	35,299	39,639	45,859	32,112	43,559
Change in Working Capital	-8,382	-10,596	-5,917	12,987	2,476	-1,071

Source: S&P Global Market Intelligence. Standard template. Financial Sources.