BOE Varitronix Cash Flow Statement

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

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	391.28	475.26	582.45	327.8
Depreciation & Amortization	244.3	202.11	168.36	162.4
Other Amortization	4.06	3.15	2.71	1.1
Loss (Gain) From Sale of Assets	-0.54	-1.71	-0.98	-0.91
Loss (Gain) From Sale of Investments	-8.34	0.72	0.74	6.54
Loss (Gain) on Equity Investments	-26.77	4.47	0.46	0.49
Stock-Based Compensation	13.37	20.39	22.59	14.79
Other Operating Activities	-8.3	-82.05	191.54	-64.3
Change in Accounts Receivable	-719.22	-347.1	-539.86	-578.51
Change in Inventory	135.72	-398.35	-818.95	-318.21
Change in Accounts Payable	1,431	1,309	1,165	1,114
Operating Cash Flow	1,457	1,186	774	664.76
Operating Cash Flow Growth	22.82%	53.24%	16.43%	162.71%
Capital Expenditures	-567.72	-502.06	-1,176	-246.76
Sale of Property, Plant & Equipment	0.35	1.72	3.24	0.95
Cash Acquisitions	-	-	-	3.72
Divestitures	-	-	-14.82	-
Sale (Purchase) of Intangibles	-8.66	-6.13	-4.39	-7.04
Investment in Securities	-1,181	46.32	-60.31	-33.51
Other Investing Activities	-25.39	236.04	82.85	28.16
Investing Cash Flow	-1,783	-224.1	-1,170	-254.47
Long-Term Debt Issued	275.32	619.94	776.7	-
Long-Term Debt Repaid	-531.28	-677.55	-94.16	-11.43
Net Debt Issued (Repaid)	-255.96	-57.61	682.54	-11.43
Issuance of Common Stock	-	0.33	810.51	1.96
Repurchase of Common Stock	-9.17	-	-	-23.18
Common Dividends Paid	-149.66	-180.96	-109.28	-36.3
Other Financing Activities	-15.36	-25.22	-285.79	279.09
Financing Cash Flow	-430.15	-263.47	1,098	210.14
Foreign Exchange Rate Adjustments	-	-	-150.57	19.16
Net Cash Flow	-756.24	698.51	551.71	639.59
Free Cash Flow	888.97	684.02	-402.27	418
Free Cash Flow Growth	29.96%	-	-	112.41%
Free Cash Flow Margin	6.61%	6.36%	-3.75%	5.40%
Free Cash Flow Per Share	1.13	0.87	-0.54	0.57
Cash Interest Paid	15.36	25.22	12.36	0.92
Cash Income Tax Paid	61.84	120.81	59.66	10.17
Levered Free Cash Flow	658.5	569.13	-460.74	342.53
Unlevered Free Cash Flow	668.1	584.89	-453.01	343.1
Change in Working Capital	847.61	563.74	-193.86	216.87

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