Mandarin Hotel 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	39.82	50.82	34.68	-39.89	-48.84
Depreciation & Amortization	44.21	40.94	40.25	46.2	46.43
Other Amortization	0.32	0.22	0.08	0.08	0.05
Loss (Gain) From Sale of Assets	-0.07	-0.19	-0.09	-	-52.63
Asset Writedown & Restructuring Costs	0	1.73	-0.02	-	0.46
Loss (Gain) From Sale of Investments	-	-	-	-	-0.58
Provision & Write-off of Bad Debts	-	2.15	2.08	-0.01	0.35
Other Operating Activities	13.41	14.83	-8.08	5.71	-14.93
Change in Accounts Receivable	2.6	-2.81	-3.96	-4.61	-3.09
Change in Inventory	-0.01	-0.3	-0.15	0.06	0.15
Change in Accounts Payable	-5.8	7.89	3.45	12.11	-2.59
Change in Other Net Operating Assets	-0.96	-0.26	-0.67	-	-0
Operating Cash Flow	93.52	115.03	67.59	19.67	-75.23
Operating Cash Flow Growth	-18.70%	70.18%	243.70%	-	-
Capital Expenditures	-15.13	-19.23	-5.33	-8.68	-5.28
Sale of Property, Plant & Equipment	0.07	0.19	0.09	-	79.33
Sale (Purchase) of Intangibles	-1.38	-	-0.06	-0.18	-
Sale (Purchase) of Real Estate	-0.57	-	-	-	-
Investment in Securities	-	-	-	-	29.38
Other Investing Activities	0.1	0.28	0.29	0.07	1.13
Investing Cash Flow	-16.9	-18.77	-5.01	-8.79	104.56
Long-Term Debt Issued	-	-	-	-	40
Long-Term Debt Repaid	-77.36	-131.39	-82.8	-4.62	-4.45
Total Debt Repaid	-77.36	-131.39	-82.8	-4.62	-4.45
Net Debt Issued (Repaid)	-77.36	-131.39	-82.8	-4.62	35.55
Common Dividends Paid	-	-0.15	-	-	-
Financing Cash Flow	-77.36	-131.55	-82.8	-4.62	35.55
Net Cash Flow	-0.73	-35.28	-20.22	6.26	64.89
Free Cash Flow	78.39	95.8	62.27	10.99	-80.51
Free Cash Flow Growth	-18.17%	53.86%	466.64%	-	-
Free Cash Flow Margin	21.64%	25.51%	19.22%	6.67%	-350.49%
Free Cash Flow Per Share	2.91	3.56	2.31	0.41	-2.99
Cash Interest Paid	8.07	13.39	20.15	4.73	14.97
Cash Income Tax Paid	-0.18	0.31	0.34	0.12	0.88
Levered Free Cash Flow	53.36	73.48	50.07	26.08	-37.09
Unlevered Free Cash Flow	58.39	81.82	57.11	33.98	-27.1
Change in Working Capital	-4.17	4.53	-1.32	7.57	-5.53

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