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	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	877.76	384.98	55.33	1,485	-3,260	728.45
Depreciation & Amortization	2,073	1,966	1,937	1,770	1,840	1,795
Gain (Loss) on Sale of Assets	-	-	-	-	-7,100	0.48
Gain (Loss) on Sale of Investments	-525.86	-	-	-	78.06	-169.04
Change in Accounts Receivable	-15.19	-15.19	-75	654.36	77.19	187.65
Reinsurance Recoverable	-4,300	-1,766	-1,543	-8,335	6,204	-2,610
Change in Insurance Reserves / Liabilities	8,907	2,537	2,020	-62.57	-1,169	5,747
Change in Other Net Operating Assets	-4,663	-1,610	-1,726	4,878	1,430	-5,285
Other Operating Activities	1,794	1,910	2,009	1,547	-2,067	120.09
Operating Cash Flow	4,358	4,127	1,258	1,128	-4,493	1,398
Operating Cash Flow Growth	36.99%	228.02%	11.51%	-	-	-60.16%
Capital Expenditures	-4,385	-2,721	-2,132	-2,640	-2,414	-2,886
Sale of Property, Plant & Equipment	17.19	113.34	196.06	824.13	16.99	59.31
Purchase / Sale of Intangible Assets	-102.6	-59	-13.79	-16.19	36.31	-29.45
Other Investing Activities	552.51	562.51	69.63	130.49	25.37	54.75
Investing Cash Flow	-3,569	-2,327	-2,146	-1,667	-2,351	-2,228
Long-Term Debt Issued	-	4,138	21,456	18,283	17,064	11,326
Total Debt Repaid	-12,438	-4,802	-20,218	-16,525	-10,430	-11,187
Net Debt Issued (Repaid)	130.99	-663.95	1,238	1,758	6,635	139.56
Issuance of Common Stock	-	-	-	-	-	3.3
Common Dividends Paid	-	-	-	-	-451.26	-0.9
Other Financing Activities	-878.24	-632.29	-684.51	-539.78	-370.18	-453.05
Financing Cash Flow	-747.25	-1,296	553.5	1,219	5,813	-311.1
Foreign Exchange Rate Adjustments	-68.99	-69.53	-42.27	-9.23	-81.86	-27.53
Net Cash Flow	-26.95	434.13	-376.7	671.14	-1,113	-1,169
Free Cash Flow	-26.44	1,406	-874.01	-1,512	-6,907	-1,488
Free Cash Flow Margin	-0.14%	7.98%	-4.90%	-7.61%	-26.04%	-6.37%
Free Cash Flow Per Share	-0.04	1.87	-1.16	-2.01	-9.18	-1.98
Cash Interest Paid	878.24	632.29	684.51	539.78	370.18	453.05
Cash Income Tax Paid	197.28	155.92	82.1	404.18	896.23	111
Levered Free Cash Flow	-8,064	-548	-3,100	-7,623	-1,243	-5,932
Unlevered Free Cash Flow	-7,562	-19.35	-2,676	-7,295	-971.29	-5,648
Change in Working Capital	-21.86	-234.39	-2,747	-3,880	5,992	-1,080

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