Thai Group Holdings 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	1,072	384.98	55.33	1,485	-3,260
Depreciation & Amortization	2,105	1,966	1,937	1,770	1,840
Gain (Loss) on Sale of Assets	-	-	-	-	-7,100
Gain (Loss) on Sale of Investments	-610.38	-	-	-	78.06
Change in Accounts Receivable	-	-15.19	-75	654.36	77.19
Reinsurance Recoverable	-1,799	-1,766	-1,543	-8,335	6,204
Change in Insurance Reserves / Liabilities	-	2,537	2,020	-62.57	-1,169
Change in Other Net Operating Assets	-3,412	-1,610	-1,726	4,878	1,430
Other Operating Activities	8,264	1,910	2,009	1,547	-2,067
Operating Cash Flow	5,768	4,127	1,258	1,128	-4,493
Operating Cash Flow Growth	39.77%	228.02%	11.51%	-	-
Capital Expenditures	-4,314	-2,721	-2,132	-2,640	-2,414
Sale of Property, Plant & Equipment	15.98	113.34	196.06	824.13	16.99
Purchase / Sale of Intangible Assets	-91.64	-59	-13.79	-16.19	36.31
Other Investing Activities	66.89	562.51	69.63	130.49	25.37
Investing Cash Flow	-3,901	-2,327	-2,146	-1,667	-2,351
Long-Term Debt Issued	25,656	4,138	21,456	18,283	17,064
Total Debt Repaid	-26,299	-4,802	-20,218	-16,525	-10,430
Net Debt Issued (Repaid)	-643.46	-663.95	1,238	1,758	6,635
Common Dividends Paid	-	-	-	-	-451.26
Other Financing Activities	-888.68	-632.29	-684.51	-539.78	-370.18
Financing Cash Flow	-1,532	-1,296	553.5	1,219	5,813
Foreign Exchange Rate Adjustments	0.09	-69.53	-42.27	-9.23	-81.86
Net Cash Flow	334.96	434.13	-376.7	671.14	-1,113
Free Cash Flow	1,454	1,406	-874.01	-1,512	-6,907
Free Cash Flow Growth	3.38%	-	-	-	-
Free Cash Flow Margin	9.34%	7.98%	-4.90%	-7.61%	-26.04%
Free Cash Flow Per Share	1.93	1.87	-1.16	-2.01	-9.18
Cash Interest Paid	888.68	632.29	684.51	539.78	370.18
Cash Income Tax Paid	327.35	155.92	82.1	404.18	896.23
Levered Free Cash Flow	-7,382	-548	-3,100	-7,623	-1,243
Unlevered Free Cash Flow	-6,904	-19.35	-2,676	-7,295	-971.29
Change in Working Capital	-5,145	-234.39	-2,747	-3,880	5,992

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