Macau E&M Holding Cash Flow Statement

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

Millions MOP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	1.59	-2.49	-3.76	9.31	26.24	26.67
Depreciation & Amortization	1.18	1.18	1.44	1.7	1.06	1.12
Loss (Gain) From Sale of Assets	0	0	0	-	-	-
Provision & Write-off of Bad Debts	0.33	0.55	0.11	-0.13	0.04	-0.03
Other Operating Activities	-4.43	-4.86	-4.63	-3.56	-3.67	-9.13
Change in Accounts Receivable	37.81	19.85	23.18	-5.66	9.01	19.25
Change in Accounts Payable	-23.83	-16.82	8.95	-3.66	1.03	15
Change in Unearned Revenue	3.94	-1.32	2.31	-0.4	-10.78	-19.47
Operating Cash Flow	16.6	-3.91	27.61	-2.4	22.93	33.42
Operating Cash Flow Growth	121.75%	-	-	-	-31.39%	103.04%
Capital Expenditures	-	-	-2.7	-36.33	-0.14	-0.02
Investment in Securities	-13.7	-14.61	71.43	26.09	-61.88	-62.65
Other Investing Activities	4.84	4.53	5.11	1.59	-1	2.75
Investing Cash Flow	-8.86	-10.08	73.84	-8.66	-63.02	-59.91
Long-Term Debt Issued	-	-	-	13.55	-	-
Long-Term Debt Repaid	-	-0.62	-0.86	-1.28	-1.06	-1.02
Net Debt Issued (Repaid)	-0.65	-0.62	-0.86	12.27	-1.06	-1.02
Issuance of Common Stock	-	-	-	-	-	106.19
Common Dividends Paid	-	-	-5.57	-10.47	-	-
Other Financing Activities	-0.17	-0.19	-0.02	-0.18	-0.05	-21.89
Financing Cash Flow	-0.82	-0.81	-6.44	-18.86	-1.11	83.29
Net Cash Flow	6.92	-14.8	95.01	-29.91	-41.2	56.79
Free Cash Flow	16.6	-3.91	24.92	-38.73	22.79	33.4
Free Cash Flow Growth	121.78%	-	-	-	-31.76%	103.06%
Free Cash Flow Margin	22.04%	-4.25%	19.42%	-27.07%	12.35%	12.07%
Free Cash Flow Per Share	0.03	-0.01	0.05	-0.08	0.05	0.08
Cash Interest Paid	0.37	0.4	0.4	0.18	0.05	0.08
Cash Income Tax Paid	0.03	0.05	0.94	3.39	5.28	12.02
Levered Free Cash Flow	17.72	-1.65	15.12	-41.2	12.92	47.98
Unlevered Free Cash Flow	17.83	-1.53	15.13	-40.96	12.94	48.04
Change in Working Capital	17.92	1.7	34.44	-9.72	-0.74	14.78

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.