TPI Polene Power 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	2,266	3,302	3,653	2,813	4,191
Depreciation & Amortization	1,125	1,033	1,017	996.84	917.06
Loss (Gain) on Sale of Assets	0.55	-0	3.02	-0.04	-0.04
Loss (Gain) on Sale of Investments	-	-	-0.66	-	-11.1
Loss (Gain) on Equity Investments	-5.36	-4.64	-3.26	0.11	-
Change in Accounts Receivable	1,010	-1,008	-152.68	986.69	-135.32
Change in Inventory	93.83	278.63	106.78	-325.4	-335.98
Change in Accounts Payable	103.65	70.44	-407.36	312.78	-2.12
Change in Other Net Operating Assets	-558.39	425.43	872.37	720.33	-627.06
Other Operating Activities	175.04	270.3	2.18	-96.33	162.32
Operating Cash Flow	4,210	4,368	5,091	5,408	4,159
Operating Cash Flow Growth	-3.61%	-14.20%	-5.86%	30.02%	-13.72%
Capital Expenditures	-3,954	-6,938	-6,766	-4,860	-2,823
Sale of Property, Plant & Equipment	0.02	0	0.21	0.05	0.15
Investment in Securities	-111.76	2,090	-804.87	2,308	-2,479
Other Investing Activities	773.27	-602.38	67.84	266.97	-194.51
Investing Cash Flow	-3,292	-5,450	-7,503	-2,285	-5,496
Short-Term Debt Issued	-	638.48	-	-	-
Long-Term Debt Issued	2,000	8,050	8,720	4,693	7,524
Total Debt Issued	2,000	8,688	8,720	4,693	7,524
Short-Term Debt Repaid	-	-220	-	-	-240
Long-Term Debt Repaid	-463.01	-4,130	-3,063	-4,044	-4,017
Total Debt Repaid	-463.01	-4,350	-3,063	-4,044	-4,257
Net Debt Issued (Repaid)	1,537	4,338	5,657	648.81	3,267
Common Dividends Paid	-588	-1,764	-2,016	-2,100	-2,268
Other Financing Activities	-1,141	-906.07	-797.97	-598.21	-523.65
Financing Cash Flow	-192.1	1,668	2,843	-2,049	475.13
Foreign Exchange Rate Adjustments	-0.19	-31.22	-0.01	-0.17	0.4
Net Cash Flow	725.32	554.46	430.95	1,074	-861.24
Free Cash Flow	256.08	-2,570	-1,675	547.8	1,337
Free Cash Flow Growth	-	-	-	-59.01%	-
Free Cash Flow Margin	2.83%	-23.92%	-15.24%	5.37%	12.07%
Free Cash Flow Per Share	0.03	-0.31	-0.20	0.07	0.16
Cash Interest Paid	1,141	906.07	797.97	598.21	523.65
Cash Income Tax Paid	266.84	28.55	10.69	46.01	125.39
Levered Free Cash Flow	-400.01	-2,896	-4,781	-263.36	-332.91
Unlevered Free Cash Flow	-112.03	-2,736	-4,688	-209.37	-206.26
Change in Working Capital	649.34	-233.02	419.11	1,694	-1,100

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