Analogue Holdings 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	135.27	251.5	114.56	314.3
Depreciation & Amortization	71.32	68.98	60.55	67.33
Loss (Gain) From Sale of Assets	8.22	0.83	0.03	-0.01
Asset Writedown & Restructuring Costs	3.55	0.24	0.2	-0.4
Loss (Gain) From Sale of Investments	12.65	-117.59	43.26	-63.25
Loss (Gain) on Equity Investments	5.76	4.65	-18.08	-74.2
Stock-Based Compensation	3.11	12.76	54.49	-
Provision & Write-off of Bad Debts	85.08	16.79	9.25	-14.71
Other Operating Activities	45.53	-42.25	131.44	96.05
Change in Accounts Receivable	16.34	-207.95	-275.23	-228.41
Change in Inventory	0.67	-17.34	8.12	-20.6
Change in Accounts Payable	-136.01	37.64	131.28	138.63
Change in Unearned Revenue	-0.34	-61.66	46.62	-29.32
Change in Other Net Operating Assets	-105.08	230.94	135.28	41.35
Operating Cash Flow	146.07	177.55	441.75	226.75
Operating Cash Flow Growth	-17.73%	-59.81%	94.81%	-44.37%
Capital Expenditures	-155.33	-120.52	-27.39	-51.91
Sale of Property, Plant & Equipment	0.03	0.39	0.1	0.25
Cash Acquisitions	-	-3.1	-	-580.48
Investment in Securities	-12.8	57.26	42.24	94.21
Other Investing Activities	18.09	24.51	-15.97	-89.57
Investing Cash Flow	-150	-41.46	-1.02	-627.51
Short-Term Debt Issued	-	4.06	-	8.81
Long-Term Debt Issued	439.86	255.7	220	317.5
Total Debt Issued	439.86	259.76	220	326.31
Short-Term Debt Repaid	-3.52	-	-6	-
Long-Term Debt Repaid	-223.81	-252.89	-268.04	-59.45
Total Debt Repaid	-227.33	-252.89	-274.05	-59.45
Net Debt Issued (Repaid)	212.54	6.87	-54.05	266.86
Repurchase of Common Stock	-0.45	-12.21	-19.59	-26.21
Common Dividends Paid	-32.99	-118.56	-59.59	-154.28
Other Financing Activities	-22.18	-17.05	-11.81	-4.91
Financing Cash Flow	143.05	-203.76	-245.48	81.46
Foreign Exchange Rate Adjustments	-9.61	-1.95	-20.96	4.93
Net Cash Flow	129.51	-69.6	174.29	-314.37
Free Cash Flow	-9.26	57.03	414.36	174.84
Free Cash Flow Growth	-	-86.24%	137.00%	-55.35%
Free Cash Flow Margin	-0.14%	0.93%	6.40%	3.27%
Free Cash Flow Per Share	-0.01	0.04	0.30	0.13
Cash Interest Paid	22.18	17.05	11.81	4.65
Cash Income Tax Paid	6.57	42.07	66.01	30.82
Levered Free Cash Flow	-84.56	11.06	478.26	116.59
Unlevered Free Cash Flow	-72.93	20.41	485.42	119.5
Change in Working Capital	-224.41	-18.37	46.07	-98.35

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.