Hang Lung Group Cash Flow Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. 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	1,370	1,613	2,811	2,718	2,589
Depreciation & Amortization	150	117	88	78	62
Gain (Loss) on Sale of Assets	-27	-17	1	4	-16
Asset Writedown	1,166	1,197	62	352	-458
Stock-Based Compensation	54	74	83	88	66
Income (Loss) on Equity Investments	-50	-159	-129	-153	12
Change in Accounts Receivable	504	224	58	-249	-263
Change in Other Net Operating Assets	809	-392	619	-4	903
Other Operating Activities	2,432	2,399	3,002	2,626	3,556
Operating Cash Flow	6,062	5,215	4,022	4,443	3,043
Operating Cash Flow Growth	16.24%	29.66%	-9.48%	46.01%	-19.09%
Acquisition of Real Estate Assets	-2,428	-3,284	-3,132	-2,721	-2,878
Sale of Real Estate Assets	148	23	19	15	139
Net Sale / Acq. of Real Estate Assets	-2,280	-3,261	-3,113	-2,706	-2,739
Investment in Marketable & Equity Securities	-31	87	119	-597	1,175
Other Investing Activities	-81	102	149	100	124
Investing Cash Flow	-2,392	-3,072	-2,845	-3,203	-1,440
Long-Term Debt Issued	42,310	45,533	44,802	37,035	25,402
Long-Term Debt Repaid	-46,113	-38,172	-39,958	-35,911	-18,772
Net Debt Issued (Repaid)	-3,803	7,361	4,844	1,124	6,630
Common Dividends Paid	-1,171	-1,171	-1,171	-1,171	-1,144
Other Financing Activities	-3,068	-3,805	-4,239	-4,203	-3,667
Foreign Exchange Rate Adjustments	69	-78	-53	-302	86
Net Cash Flow	-4,303	4,450	558	-3,312	3,508
Cash Interest Paid	1,921	2,045	1,893	1,459	1,440
Cash Income Tax Paid	1,285	1,511	1,379	1,472	1,548
Levered Free Cash Flow	3,825	3,262	2,236	2,266	2,602
Unlevered Free Cash Flow	4,363	3,790	2,625	2,546	2,871
Change in Working Capital	967	-9	-1,896	-1,270	-2,768