ADvTECH Cash Flow Statement

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

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,288	1,105	951	805.4	664.9
Depreciation & Amortization	469.4	412.8	366.2	328.3	301.9
Other Amortization	32.2	23	18.5	18.1	14.7
Loss (Gain) From Sale of Assets	2.2	4.4	-1.2	-14.5	-11.3
Loss (Gain) From Sale of Investments	6	-	-	-	-
Stock-Based Compensation	35.7	46.3	39.5	36.9	52.4
Other Operating Activities	92.3	49.9	59.8	33.5	-17.9
Change in Accounts Receivable	3.4	-77.9	-57.4	-137.1	-26.3
Change in Inventory	6.1	-2.3	-3.3	3.4	7
Change in Accounts Payable	73.8	15.4	-13	92.6	87.5
Change in Unearned Revenue	37.6	49.5	17	93.5	49.3
Operating Cash Flow	2,047	1,626	1,377	1,260	1,122
Operating Cash Flow Growth	25.89%	18.06%	9.29%	12.29%	24.84%
Capital Expenditures	-991.3	-902.8	-646.4	-704.4	-329.7
Sale of Property, Plant & Equipment	60	30	24.9	27.5	38.8
Cash Acquisitions	-171.2	-75.8	-	-	-
Divestitures	-	-	-	2.9	-
Sale (Purchase) of Intangibles	-36.7	-79.4	-22.6	-15.9	-13
Other Investing Activities	-	-	-	-	1
Investing Cash Flow	-1,139	-1,028	-644.1	-689.9	-302.9
Short-Term Debt Issued	1,730	1,175	950	1,140	590
Total Debt Issued	1,730	1,175	950	1,140	590
Short-Term Debt Repaid	-1,365	-950	-1,140	-590	-441.2
Long-Term Debt Repaid	-681.9	-81.6	-77.7	-698.2	-694
Total Debt Repaid	-2,047	-1,032	-1,218	-1,288	-1,135
Net Debt Issued (Repaid)	-316.9	143.4	-267.7	-148.2	-545.2
Issuance of Common Stock	-	-	-	4	9.7
Repurchase of Common Stock	-35.4	-36	-16.1	-	-
Common Dividends Paid	-659.6	-589.7	-414.9	-320.7	-223.8
Other Financing Activities	-17.4	-	-	-	-6.7
Financing Cash Flow	-1,029	-482.3	-698.7	-464.9	-766
Foreign Exchange Rate Adjustments	-42.8	12.5	-8	4.8	10
Net Cash Flow	-164.6	128	26.3	110.1	63.3
Free Cash Flow	1,055	723	730.7	555.7	792.5
Free Cash Flow Growth	45.98%	-1.05%	31.49%	-29.88%	25.08%
Free Cash Flow Margin	11.31%	8.48%	9.30%	7.98%	13.39%
Free Cash Flow Per Share	1.91	1.31	1.33	1.01	1.45
Cash Interest Paid	208.1	226.8	202	170	161.5
Cash Income Tax Paid	432	423.9	374.5	337.9	309.3
Levered Free Cash Flow	840.11	415.81	560.96	434.53	744.04
Unlevered Free Cash Flow	973.21	562.86	689.79	545.2	847.31
Change in Working Capital	120.9	-15.3	-56.7	52.4	117.5

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