Midland Holdings Limited (HKG:1200)

Midland Holdings Cash Flow Statement

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

Operating Activities

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	422.68	320.32	-41.92	-533.97	100.21
Depreciation & Amortization	275.46	318.94	476.61	651.18	628.62
Loss (Gain) From Sale of Assets	0.33	0.2	-27.53	1.55	0.56
Asset Writedown & Restructuring Costs	8.08	12.24	15.02	33.37	25.63
Loss (Gain) From Sale of Investments	14.29	69.19	9.25	-4.04	79.76
Stock-Based Compensation	-	-	-	-	0.1
Other Operating Activities	7.27	27.27	-14.83	-104.35	12.78
Change in Accounts Receivable	359.73	-1,158	6.36	1,245	-722.21
Change in Accounts Payable	-539.23	1,054	102.14	-1,234	551.9
Change in Other Net Operating Assets	-8.53	0.39	18.51	4.9	72.56
Operating Cash Flow	540.08	644.6	543.6	59.37	749.91
Operating Cash Flow Growth	-16.21%	18.58%	815.63%	-92.08%	12.54%

Investing Activities

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
Capital Expenditures	-8.92	-8.39	-20.39	-57.35	-65.34
Sale of Property, Plant & Equipment	-	0.03	36.91	0.14	0.16
Sale (Purchase) of Real Estate	-	-	17.49	14.03	-
Investment in Securities	0.43	0.2	0.31	-10.81	4.84
Other Investing Activities	10.21	5.65	20.34	43.95	17.78
Investing Cash Flow	1.73	-2.51	54.66	-10.03	-42.56

Financing Activities

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
Long-Term Debt Issued	640	1,060	610	5,005	9,006
Total Debt Issued	640	1,060	610	5,005	9,006
Long-Term Debt Repaid	-896.05	-1,522	-1,122	-6,106	-9,146
Total Debt Repaid	-896.05	-1,522	-1,122	-6,106	-9,146
Net Debt Issued (Repaid)	-256.05	-462.3	-512.5	-1,101	-140.88
Repurchase of Common Stock	-0.16	-	-	-	-1.37
Financing Cash Flow	-256.2	-462.3	-512.5	-1,101	-142.25

Net Cash Flow

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
Foreign Exchange Rate Adjustments	0.49	-0.8	-4.29	-3.28	2.28
Net Cash Flow	286.09	178.98	81.48	-1,055	567.37

Free Cash Flow

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
Free Cash Flow	531.16	636.2	523.21	2.02	684.57
Free Cash Flow Growth	-16.51%	21.59%	25750.49%	-99.70%	12.91%
Free Cash Flow Margin	9.65%	10.45%	12.79%	0.07%	11.39%
Free Cash Flow Per Share	0.74	0.89	0.73	0.00	0.95
Levered Free Cash Flow	412.46	497.92	548.11	187.32	677.92
Unlevered Free Cash Flow	423.01	515.15	566.22	208.16	696.72

Additional Metrics

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
Cash Interest Paid	16.89	27.57	28.98	33.35	30.07
Cash Income Tax Paid	50.56	9.46	9.38	32.26	6.8
Change in Working Capital	-188.03	-103.56	127	15.63	-97.75

Data Source: S&P Global Market Intelligence Last updated: Dec 31, 2025

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Jul 31, 2026

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