Modern Dental Group 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	408	404.1	220.46	360.83
Depreciation & Amortization	132.62	139.49	145.2	139.29
Other Amortization	6.55	6.06	2.86	1.11
Loss (Gain) From Sale of Assets	-0.13	0.55	0.4	0.5
Asset Writedown & Restructuring Costs	2.76	0.7	0.12	0.61
Loss (Gain) on Equity Investments	1.16	0.29	-0.39	-0.54
Other Operating Activities	-14.17	8.28	-1.05	83.17
Change in Accounts Receivable	-31.46	-21.37	-61.52	-60.6
Change in Inventory	-5.17	-7.77	-21.86	-14.75
Change in Accounts Payable	-13.63	3.42	-3.54	14.05
Change in Other Net Operating Assets	34.65	42.02	-22.4	1.47
Operating Cash Flow	521.19	575.76	258.28	525.14
Operating Cash Flow Growth	-9.48%	122.92%	-50.82%	31.23%
Capital Expenditures	-141.83	-159.72	-185.37	-141.45
Sale of Property, Plant & Equipment	8.02	6.72	6.68	5.36
Cash Acquisitions	-	-4.12	-11.26	-4.68
Investment in Securities	-	-0.98	-39.46	-1.87
Other Investing Activities	-11.67	3.14	1.51	-0.02
Investing Cash Flow	-145.47	-154.96	-227.89	-142.65
Long-Term Debt Issued	600	216.75	752.75	-
Long-Term Debt Repaid	-590.61	-224.87	-850.99	-239.42
Net Debt Issued (Repaid)	9.39	-8.12	-98.24	-239.42
Repurchase of Common Stock	-25.05	-20.15	-3.6	-7.9
Common Dividends Paid	-160.66	-99.03	-77.47	-138.7
Other Financing Activities	-51.38	-46.35	-22.48	-18.29
Financing Cash Flow	-227.7	-173.64	-201.79	-452.12
Foreign Exchange Rate Adjustments	-28.88	6.15	-17.38	4.96
Net Cash Flow	119.13	253.32	-188.78	-64.67
Free Cash Flow	379.37	416.04	72.91	383.69
Free Cash Flow Growth	-8.82%	470.63%	-81.00%	17.08%
Free Cash Flow Margin	11.28%	13.12%	2.58%	12.98%
Free Cash Flow Per Share	0.40	0.44	0.08	0.40
Cash Interest Paid	51.38	46.35	24.33	20.1
Cash Income Tax Paid	184.8	137.67	97.41	43.15
Levered Free Cash Flow	229.91	299.54	25.7	286.92
Unlevered Free Cash Flow	261.98	325	40.91	299.48
Change in Working Capital	-15.6	16.3	-109.32	-59.82

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