Thachang Green Energy 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	231.73	251.44	239.97	216.43	202.1
Depreciation & Amortization	158.53	149.93	147.24	141.2	124.26
Other Amortization	-	0.55	0.56	0.52	0.45
Loss (Gain) on Sale of Assets	-	4.7	7.14	2.8	20.94
Asset Writedown	6.83	1.22	0.04	-	-
Change in Accounts Receivable	-4.36	-22.32	31.58	24.35	-25.19
Change in Inventory	-22.26	22.17	-2.19	7.97	-61.14
Change in Accounts Payable	-7.48	4.01	4.2	6.85	3.25
Change in Other Net Operating Assets	-40.99	-90.63	-91.76	-54.62	-17.86
Other Operating Activities	22.76	40.07	45.54	52.25	50.86
Operating Cash Flow	344.76	361.12	382.31	397.76	297.67
Operating Cash Flow Growth	-4.53%	-5.54%	-3.88%	33.62%	20.19%
Capital Expenditures	-161.47	-114.46	-140.86	-53.72	-131.7
Sale of Property, Plant & Equipment	1.41	1.47	0.31	0	1.25
Sale (Purchase) of Intangibles	-94.4	-28.03	-5.03	-10	-3.58
Other Investing Activities	-319.83	-47.77	-77.96	-34.08	16.35
Investing Cash Flow	-574.3	-188.78	-223.54	-199.8	-117.88
Short-Term Debt Issued	50	-	-	-	-
Long-Term Debt Issued	-	-	-	187.98	261
Total Debt Issued	50	-	-	187.98	261
Long-Term Debt Repaid	-230.02	-228.04	-227.82	-590.43	-373.94
Total Debt Repaid	-230.02	-228.04	-227.82	-590.43	-373.94
Net Debt Issued (Repaid)	-180.02	-228.04	-227.82	-402.45	-112.94
Issuance of Common Stock	310.69	-	-	1,163	-
Common Dividends Paid	-7.98	-5.72	-5.5	-367.8	-
Other Financing Activities	-25.41	-39.28	-45.27	-49.09	-45.85
Financing Cash Flow	97.28	-273.03	-278.59	344	-158.79
Net Cash Flow	-132.26	-100.69	-119.82	541.96	21
Free Cash Flow	183.29	246.66	241.45	344.03	165.97
Free Cash Flow Growth	-25.69%	2.16%	-29.82%	107.28%	-
Free Cash Flow Margin	14.95%	24.66%	26.50%	36.67%	21.25%
Free Cash Flow Per Share	0.07	0.10	0.11	0.19	0.10
Cash Interest Paid	-	39.28	45.27	48.04	45.85
Cash Income Tax Paid	-	10.03	2.25	-	-
Levered Free Cash Flow	33.18	178.73	150.26	219.39	-31.62
Unlevered Free Cash Flow	33.18	204.07	179.95	251	-1.86
Change in Working Capital	-75.09	-86.77	-58.17	-15.44	-100.94

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