President Bakery 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	1,258	1,591	1,708	1,707	1,688
Depreciation & Amortization	455.28	401.27	372.17	377.53	423.63
Other Amortization	4.41	3.32	3.26	1.45	1.8
Loss (Gain) From Sale of Assets	-14.57	-12.55	-4.67	-1.15	-0.67
Loss (Gain) From Sale of Investments	6.65	0.81	-2.44	26.51	-1.87
Loss (Gain) on Equity Investments	-21.6	-15.53	-28.67	-23.02	-19.21
Other Operating Activities	-180.15	-173.3	-82.49	-38.1	-28.08
Change in Accounts Receivable	16.78	84.21	-24.78	-117.33	-117.72
Change in Inventory	-17.08	-20.34	1.3	-19.24	-21.34
Change in Accounts Payable	8.6	-3.63	-58.3	83.92	65.28
Change in Other Net Operating Assets	-20.4	-13.94	-19.25	-25.2	-29.93
Operating Cash Flow	1,496	1,841	1,864	1,972	1,960
Operating Cash Flow Growth	-18.76%	-1.23%	-5.50%	0.65%	-10.51%
Capital Expenditures	-1,152	-690.8	-532.62	-217.45	-225.9
Sale of Property, Plant & Equipment	16.06	12.59	4.76	1.37	1.12
Divestitures	-	-	0	-	-
Sale (Purchase) of Intangibles	-1.14	-1.88	-1.61	-1.51	-2.15
Investment in Securities	-68.05	-79.26	-625.75	-703.35	-974.25
Other Investing Activities	128.19	149.77	126.37	83.87	74.58
Investing Cash Flow	-1,077	-609.58	-1,029	-837.07	-1,127
Long-Term Debt Repaid	-13.03	-14.11	-13.43	-11.19	-9.84
Total Debt Repaid	-13.03	-14.11	-13.43	-11.19	-9.84
Net Debt Issued (Repaid)	-13.03	-14.11	-13.43	-11.19	-9.84
Common Dividends Paid	-774	-913.5	-900	-864	-801
Other Financing Activities	-1.43	-1.11	-1.4	-0.89	-0.67
Financing Cash Flow	-788.46	-928.72	-914.82	-876.08	-811.51
Net Cash Flow	-369.68	302.61	-79.79	259.17	21.42
Free Cash Flow	343.72	1,150	1,331	1,755	1,734
Free Cash Flow Growth	-70.11%	-13.61%	-24.14%	1.23%	-16.50%
Free Cash Flow Margin	4.86%	15.29%	17.58%	23.23%	24.11%
Free Cash Flow Per Share	0.76	2.56	2.96	3.90	3.85
Cash Interest Paid	1.43	1.11	1.4	0.89	0.67
Cash Income Tax Paid	227.16	279.22	256.09	228.98	204.71
Levered Free Cash Flow	-141.74	1,068	880.81	1,331	1,264
Unlevered Free Cash Flow	-140.85	1,069	881.68	1,332	1,264
Change in Working Capital	-12.1	46.3	-101.03	-77.86	-103.72

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