Midland Holdings Limited (HKG:1200)

Midland Holdings Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	553.38	422.68	320.32	-41.92	-533.97	100.21
Depreciation & Amortization	270.95	275.46	318.94	476.61	651.18	628.62
Loss (Gain) From Sale of Assets	0.33	0.33	0.2	-27.53	1.55	0.56
Asset Writedown & Restructuring Costs	8.08	8.08	12.24	15.02	33.37	25.63
Loss (Gain) From Sale of Investments	14.29	14.29	69.19	9.25	-4.04	79.76
Stock-Based Compensation	-	-	-	-	-	0.1
Other Operating Activities	201.77	7.27	27.27	-14.83	-104.35	12.78
Change in Accounts Receivable	359.73	359.73	-1,158	6.36	1,245	-722.21
Change in Accounts Payable	-539.23	-539.23	1,054	102.14	-1,234	551.9
Change in Other Net Operating Assets	-8.53	-8.53	0.39	18.51	4.9	72.56
Operating Cash Flow	860.77	540.08	644.6	543.6	59.37	749.91
Operating Cash Flow Growth	23.76%	-16.21%	18.58%	815.63%	-92.08%	12.54%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-9.88	-8.92	-8.39	-20.39	-57.35	-65.34
Sale of Property, Plant & Equipment	0.15	-	0.03	36.91	0.14	0.16
Sale (Purchase) of Real Estate	-	-	-	17.49	14.03	-
Investment in Securities	0.31	0.43	0.2	0.31	-10.81	4.84
Other Investing Activities	23.69	10.21	5.65	20.34	43.95	17.78
Investing Cash Flow	14.27	1.73	-2.51	54.66	-10.03	-42.56

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	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	895	640	1,060	610	5,005	9,006
Long-Term Debt Repaid	-	-896.05	-1,522	-1,122	-6,106	-9,146
Lease Payments	-252.48	-256.05	-295.92	-457.9	-642.15	-599.88
Total Debt Repaid	-1,147	-896.05	-1,522	-1,122	-6,106	-9,146
Net Debt Issued (Repaid)	-252.48	-256.05	-462.3	-512.5	-1,101	-140.88
Repurchase of Common Stock	-	-0.16	-	-	-	-1.37
Common Dividends Paid	-64.52	-	-	-	-	-
Financing Cash Flow	-317.01	-256.2	-462.3	-512.5	-1,101	-142.25

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	1.01	0.49	-0.8	-4.29	-3.28	2.28
Net Cash Flow	559.05	286.09	178.98	81.48	-1,055	567.37

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	850.89	531.16	636.2	523.21	2.02	684.57
Free Cash Flow Growth	24.13%	-16.51%	21.59%	25750.49%	-99.70%	12.91%
Free Cash Flow Margin	13.52%	9.65%	10.45%	12.79%	0.07%	11.39%
Free Cash Flow Per Share	1.18	0.74	0.89	0.73	0.00	0.95
Levered Free Cash Flow	705.88	412.46	497.92	548.11	187.32	677.92
Unlevered Free Cash Flow	716.66	423.01	515.15	566.22	208.16	696.72
Free Cash Flow After Leases	598.41	275.12	340.29	65.32	-640.13	84.68

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	17.25	16.89	27.57	28.98	33.35	30.07
Cash Income Tax Paid	64.66	50.56	9.46	9.38	32.26	6.8
Change in Working Capital	-188.03	-188.03	-103.56	127	15.63	-97.75

Data Source: S&P Global Market Intelligence Last updated: Sep 17, 2026

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:

Oct 1, 2026

Data Sources Report a data error