BKK:ETC 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	491.88	93.39	31	131.07	187.36
Depreciation & Amortization	114.91	114.54	115.68	116.49	111.14
Loss (Gain) on Sale of Assets	-	-0.01	-0.01	0.01	-0.34
Loss (Gain) on Sale of Investments	-435.94	-33.19	-	-	-
Loss (Gain) on Equity Investments	3.9	5.36	-	-	-
Asset Writedown	-	0	0.56	-	-
Change in Accounts Receivable	-5.87	15.34	-4.59	11.54	36.51
Change in Inventory	-1.29	2.24	-7.63	0.24	-0.08
Change in Accounts Payable	-24.96	6.88	-21.68	20.9	47.47
Change in Other Net Operating Assets	-43.87	179.39	-20.07	-222.8	0.53
Other Operating Activities	115.35	99.85	99.1	55.54	104.23
Operating Cash Flow	214.11	483.79	192.36	112.98	486.83
Operating Cash Flow Growth	-55.74%	151.50%	70.26%	-76.79%	33.38%
Capital Expenditures	-79.85	-103.18	-321.57	-69.73	-97.75
Sale of Property, Plant & Equipment	-	0.2	0.01	0	0.37
Cash Acquisitions	-	348.94	-	-	-
Investment in Securities	850	-456.5	-	-	-
Other Investing Activities	-100.38	2.01	32.3	-339.7	-215.43
Investing Cash Flow	669.78	-138.47	-289.26	-409.43	-312.81
Short-Term Debt Issued	-	-	4	20.7	-
Long-Term Debt Issued	-	509	814.6	702	-
Total Debt Issued	-	509	818.6	722.7	-
Short-Term Debt Repaid	-8	-11	-	-	-0.94
Long-Term Debt Repaid	-1,836	-136.6	-315.58	-306.63	-296.77
Total Debt Repaid	-1,844	-147.6	-315.58	-306.63	-297.71
Net Debt Issued (Repaid)	-1,844	361.4	503.02	416.07	-297.71
Other Financing Activities	-82.13	-98.22	-89.58	-51.91	-66.68
Financing Cash Flow	-1,927	263.18	413.43	364.16	-364.39
Miscellaneous Cash Flow Adjustments	-	-15.86	-	-	-
Net Cash Flow	-1,043	592.64	316.54	67.71	-190.38
Free Cash Flow	134.26	380.62	-129.21	43.25	389.07
Free Cash Flow Growth	-64.73%	-	-	-88.88%	44.38%
Free Cash Flow Margin	17.82%	50.57%	-18.24%	5.86%	53.28%
Free Cash Flow Per Share	0.06	0.17	-0.06	0.02	0.17
Cash Interest Paid	82.13	98.22	89.59	51.92	66.68
Cash Income Tax Paid	3.74	-5.51	0.02	2.57	-4.79
Levered Free Cash Flow	107.64	195.71	-69.24	-137.57	93.1
Unlevered Free Cash Flow	168.41	263.18	3.99	-98.33	135.97
Change in Working Capital	-75.99	203.85	-53.97	-190.13	84.44

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