The Hongkong and Shanghai Hotels, Limited (HKG:0045)

HKG:0045 Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	320	-943	146	-488	-120
Depreciation & Amortization	714	686	520	452	499
Other Operating Activities	485	1,530	404	364	-55
Change in Accounts Receivable	-27	29	-36	-66	-
Change in Inventory	-12	-12	-28	-15	-
Change in Accounts Payable	25	15	402	108	-
Change in Other Net Operating Assets	378	3,086	1,999	62	-6
Operating Cash Flow	1,883	4,391	3,407	417	318
Operating Cash Flow Growth	-57.12%	28.88%	717.03%	31.13%	-
Capital Expenditures	-460	-360	-314	-200	-141
Divestitures	12	-	-	4	-
Sale (Purchase) of Intangibles	-	-	-	-12	-646
Sale (Purchase) of Real Estate	-355	-717	-1,930	-2,335	-1,692
Investment in Securities	-79	-200	-359	-257	-120
Other Investing Activities	-	-	-	63	-
Investing Cash Flow	-882	-1,277	-2,603	-2,737	-2,599
Long-Term Debt Issued	5,752	2,226	2,139	9,142	4,032
Long-Term Debt Repaid	-6,199	-4,456	-1,812	-6,262	-1,531
Net Debt Issued (Repaid)	-447	-2,230	327	2,880	2,501
Common Dividends Paid	-	-22	-	-	-
Other Financing Activities	-793	-851	-981	-427	-260
Financing Cash Flow	-1,240	-3,103	-654	2,453	2,241
Foreign Exchange Rate Adjustments	25	-21	-	-29	-
Net Cash Flow	-214	-10	150	104	-40
Free Cash Flow	1,423	4,031	3,093	217	177
Free Cash Flow Growth	-64.70%	30.33%	1325.35%	22.60%	-
Free Cash Flow Margin	17.84%	39.17%	38.13%	5.17%	5.11%
Free Cash Flow Per Share	0.85	2.43	1.88	0.13	0.11
Cash Interest Paid	723	844	852	425	259
Cash Income Tax Paid	156	173	28	71	70
Levered Free Cash Flow	604.38	3,005	1,471	-4,935	-294.75
Unlevered Free Cash Flow	1,091	3,567	1,646	-4,837	-196.63
Change in Working Capital	364	3,118	2,337	89	-6

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