United Paper 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	511.58	619.69	876.35	739	917.43
Depreciation & Amortization	205.01	207.52	188.16	189.18	212.33
Loss (Gain) From Sale of Assets	1.94	0.01	-0.05	0.02	-0.4
Asset Writedown & Restructuring Costs	-	1.44	5.85	-	-
Provision & Write-off of Bad Debts	0.05	0.02	-0.33	-0.1	0.05
Other Operating Activities	22.59	-33.69	22.73	148.09	-5.31
Change in Accounts Receivable	56.14	10.34	100.21	134.21	-253.61
Change in Inventory	47.64	-153.32	19.04	35.47	-247.85
Change in Accounts Payable	-57.55	40.68	-51.57	74.17	-20.73
Change in Other Net Operating Assets	-1.61	-6.63	-1.34	0.95	-1.28
Operating Cash Flow	785.78	686.08	1,159	1,321	600.64
Operating Cash Flow Growth	14.53%	-40.81%	-12.26%	119.93%	-45.61%
Capital Expenditures	-120.8	-139.98	-106.39	-187.88	-108.83
Sale of Property, Plant & Equipment	0.55	3.52	0.34	0.32	1.56
Investment in Securities	103.57	96.43	-350	-550	-
Other Investing Activities	16.81	21.37	5.22	-	-
Investing Cash Flow	0.13	-18.66	-450.82	-737.57	-107.27
Long-Term Debt Repaid	-3.59	-3.52	-3.91	-3.68	-4.08
Total Debt Repaid	-3.59	-3.52	-3.91	-3.68	-4.08
Net Debt Issued (Repaid)	-3.59	-3.52	-3.91	-3.68	-4.08
Common Dividends Paid	-390	-539.5	-390	-480.9	-513.48
Financing Cash Flow	-393.59	-543.02	-393.9	-484.58	-517.55
Net Cash Flow	392.32	124.4	314.33	98.83	-24.19
Free Cash Flow	664.98	546.1	1,053	1,133	491.8
Free Cash Flow Growth	21.77%	-48.12%	-7.10%	130.40%	-48.87%
Free Cash Flow Margin	17.86%	13.89%	25.78%	22.80%	10.69%
Free Cash Flow Per Share	1.02	0.84	1.62	1.74	0.76
Cash Interest Paid	0.32	0.32	0.17	0.46	0.15
Cash Income Tax Paid	107.65	119.84	112.84	134.24	146.9
Levered Free Cash Flow	555.84	425.35	748.32	1,041	223.61
Unlevered Free Cash Flow	556.05	425.56	748.42	1,041	223.71
Change in Working Capital	44.61	-108.92	66.35	244.8	-523.47

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