Boxer Retail Cash Flow Statement

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

Millions ZAR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug '25 Aug 31, 2025	Mar '25 Mar 2, 2025	Feb '24 Feb 25, 2024	Feb '23 Feb 26, 2023	Feb '22 Feb 27, 2022
Net Income	1,394	1,383	1,385	1,104	854
Depreciation & Amortization	1,330	1,258	1,154	1,011	843
Stock-Based Compensation	54	16	-7	17	13
Other Operating Activities	-269	-180	-91	92	136
Change in Accounts Receivable	1	-76	12	-67	-31
Change in Inventory	-434	-148	-417	-590	-477
Change in Accounts Payable	1,151	146	801	583	359
Operating Cash Flow	3,227	2,399	2,837	2,150	1,697
Operating Cash Flow Growth	50.37%	-15.44%	31.95%	26.69%	-
Capital Expenditures	-1,123	-895	-1,044	-1,152	-812
Sale of Property, Plant & Equipment	4	12	32	4	6
Cash Acquisitions	-20	-28	-7	-125	-21
Sale (Purchase) of Intangibles	-25	-16	-42	-42	-11
Investment in Securities	-	-	-	-30	-28
Other Investing Activities	70	74	28	29	147
Investing Cash Flow	-1,074	-834	-1,091	-1,339	-750
Long-Term Debt Issued	-	1,816	-	-	-
Long-Term Debt Repaid	-	-2,960	-550	-460	-382
Net Debt Issued (Repaid)	48	-1,144	-550	-460	-382
Issuance of Common Stock	8,157	8,157	-	-	-
Repurchase of Common Stock	-265	-205	-	-	-
Common Dividends Paid	-8,760	-9,260	-	-662	-568
Other Financing Activities	-1	-	-456	-3	-1
Financing Cash Flow	-821	-2,452	-1,006	-1,125	-951
Net Cash Flow	1,332	-887	740	-314	-4
Free Cash Flow	2,104	1,504	1,793	998	885
Free Cash Flow Growth	75.92%	-16.12%	79.66%	12.77%	-
Free Cash Flow Margin	4.67%	3.55%	4.79%	3.13%	3.33%
Free Cash Flow Per Share	5.01	4.41	5.98	29.25	25.93
Cash Interest Paid	517	392	341	318	291
Cash Income Tax Paid	804	750	407	312	145
Levered Free Cash Flow	1,754	875.25	686.38	2,286	-
Unlevered Free Cash Flow	2,090	1,162	900.13	2,471	-
Change in Working Capital	718	-78	396	-74	-149

Source: S&P Global Market Intelligence. Standard template. Financial Sources.