Crown Seal 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	240.94	287.27	177.39	246	193.7
Depreciation & Amortization	239.83	232.25	239.11	230.88	209.69
Other Amortization	-	1.88	1.89	2.29	2.44
Loss (Gain) From Sale of Assets	0.64	1.06	-1.35	-0.23	2.6
Asset Writedown & Restructuring Costs	-	13.4	2.21	-37.27	1.13
Loss (Gain) From Sale of Investments	0.12	-19.66	11.5	-0.02	0.01
Provision & Write-off of Bad Debts	21.28	25.22	-12.14	15.75	0.37
Other Operating Activities	2.87	-1.24	19.61	35.1	41.02
Change in Accounts Receivable	40.06	-106.49	97.41	-63.33	-61.69
Change in Inventory	102.72	-24.55	201.62	-407.53	-123.49
Change in Accounts Payable	-43.76	53.09	29.54	20.4	-52.37
Change in Unearned Revenue	-0.99	-0.99	-0.99	-0.99	-0.99
Change in Other Net Operating Assets	-12.91	3	-90.62	-47.96	-21.51
Operating Cash Flow	590.8	464.23	675.18	-6.91	190.91
Operating Cash Flow Growth	27.26%	-31.24%	-	-	-68.88%
Capital Expenditures	-155.68	-227.45	-153.99	-150.1	-262.96
Sale of Property, Plant & Equipment	2.03	2.62	2.59	2.65	20.56
Sale (Purchase) of Intangibles	-2.71	-1.13	-0.71	-1.09	-1.14
Investment in Securities	-424.06	-6.97	-336.43	310	97.12
Other Investing Activities	33.07	24.8	9.16	10.96	6.01
Investing Cash Flow	-547.35	-208.13	-479.38	172.42	-140.41
Long-Term Debt Repaid	-23.93	-18.07	-18.99	-18.27	-15.86
Net Debt Issued (Repaid)	-23.93	-18.07	-18.99	-18.27	-15.86
Dividends Paid	-154.35	-96.21	-115.41	-94.65	-128.39
Financing Cash Flow	-178.28	-114.28	-134.41	-112.92	-144.25
Foreign Exchange Rate Adjustments	-0.44	-	-	-	-0.02
Net Cash Flow	-135.27	141.82	61.38	52.59	-93.77
Free Cash Flow	435.12	236.78	521.19	-157.01	-72.05
Free Cash Flow Growth	83.77%	-54.57%	-	-	-
Free Cash Flow Margin	11.89%	6.35%	14.49%	-4.21%	-2.39%
Free Cash Flow Per Share	8.23	4.48	9.87	-2.97	-1.36
Cash Income Tax Paid	-	65.88	32.64	41.74	54.44
Levered Free Cash Flow	420.36	136.91	545.15	-191.89	-140.62
Unlevered Free Cash Flow	421.02	137.37	545.64	-191.61	-140.36
Change in Working Capital	85.13	-75.94	236.96	-499.41	-260.06

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