Afine Investments Cash Flow Statement

Financials in millions ZAR. Fiscal year is March - February.

Millions ZAR. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '25 Aug 31, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Net Income	72.74	69.77	68.69	24.83	239.4	-14.35
Depreciation & Amortization	-	-	0.03	0.05	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-30.48	-
Asset Writedown	-37.92	-39.22	-41.71	6.5	-130.41	-
Stock-Based Compensation	-	-	-	-2.13	-	-
Income (Loss) on Equity Investments	-	-	-	-	-	47.42
Change in Accounts Receivable	-2.33	-1.23	0	0.19	-0.24	-
Change in Accounts Payable	3.78	0.31	-0.17	-0.5	0.98	-
Change in Other Net Operating Assets	-	-	-	-	0.32	-
Other Operating Activities	11.46	12.84	12.63	8.15	-45.21	-33.07
Operating Cash Flow	47.73	42.47	39.48	37.08	34.36	-
Operating Cash Flow Growth	13.18%	7.59%	6.46%	7.92%	-	-
Cash Acquisition	-	-	-	0.14	-21.69	2.74
Investing Cash Flow	-	-	-	0.14	-21.69	2.74
Short-Term Debt Issued	-	1.04	-	-	-	-
Long-Term Debt Issued	-	75.87	38.67	19.34	41	-
Total Debt Issued	98.17	76.91	38.67	19.34	41	-
Long-Term Debt Repaid	-	-82.57	-36.66	-13.29	-31.23	-
Net Debt Issued (Repaid)	-5.27	-5.66	2.01	6.05	9.77	-
Issuance of Common Stock	-	-	-	-	6	-
Common Dividends Paid	-31.05	-29.74	-29.81	-31.79	-16	-
Other Financing Activities	-11.63	-9.86	-11.78	-8.83	-5	-
Net Cash Flow	-0.21	-2.79	-0.11	2.66	7.44	2.74
Cash Interest Paid	11.63	9.86	11.78	8.83	4.2	-
Cash Income Tax Paid	-	-	-	-0.57	-	-
Levered Free Cash Flow	22.02	18.24	16.75	16.65	23.15	-
Unlevered Free Cash Flow	29.06	25.6	24.31	22.91	26.31	-
Change in Working Capital	1.45	-0.92	-0.17	-0.32	1.06	-

Updated Aug 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.