Redefine Properties Cash Flow Statement

Financials in millions ZAR. Fiscal year is September - August.

Millions ZAR. Fiscal year is Sep - Aug.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Aug '25 Aug 31, 2025	Aug '24 Aug 31, 2024	Aug '23 Aug 31, 2023	Aug '22 Aug 31, 2022	Aug '21 Aug 31, 2021	2016 - 2020
Net Income	4,128	3,969	1,447	8,691	2,731	Upgrade
Depreciation & Amortization	31.46	26.47	22.98	19.99	43.79	Upgrade
Gain (Loss) on Sale of Assets	-	-	-	-43.19	-13.37	Upgrade
Gain (Loss) on Sale of Investments	1.11	-276.09	0	-19.46	-895.08	Upgrade
Asset Writedown	-	-	-	-1,624	1,619	Upgrade
Stock-Based Compensation	28.29	18.27	34.19	6.66	8.47	Upgrade
Income (Loss) on Equity Investments	-68.67	133.35	-523.4	-2,026	-275.04	Upgrade
Change in Accounts Receivable	11.08	158.26	-166.6	65.07	-214.44	Upgrade
Change in Accounts Payable	-119.16	303.05	-161.62	-240.18	332.91	Upgrade
Change in Other Net Operating Assets	-276.71	-691.97	-435.61	-	-	Upgrade
Other Operating Activities	-285.64	-558.74	2,218	-2,074	-1,178	Upgrade
Net Cash from Discontinued Operations	-	-	-	-	20	Upgrade
Operating Cash Flow	3,468	2,929	2,586	2,627	2,293	Upgrade
Operating Cash Flow Growth	18.39%	13.27%	-1.57%	14.56%	-14.08%	Upgrade
Acquisition of Real Estate Assets	-1,941	-3,616	-1,694	-1,244	-944.98	Upgrade
Sale of Real Estate Assets	1,134	388.4	1,412	4,815	4,971	Upgrade
Net Sale / Acq. of Real Estate Assets	-807.08	-3,227	-282.41	3,571	4,026	Upgrade
Cash Acquisition	-	-249.69	-13.05	1,003	-	Upgrade
Investment in Marketable & Equity Securities	351.98	742.28	-443.26	439.37	-393.45	Upgrade
Other Investing Activities	-69.17	-15.91	-310.28	2,468	-70.5	Upgrade
Investing Cash Flow	-157.86	-2,667	-1,390	8,373	3,839	Upgrade
Long-Term Debt Issued	4,853	21,234	4,154	8,299	6,372	Upgrade
Long-Term Debt Repaid	-5,074	-18,114	-3,647	-15,148	-11,245	Upgrade
Net Debt Issued (Repaid)	-220.95	3,120	507.27	-6,850	-4,873	Upgrade
Issuance of Common Stock	895.31	-	-	1,246	-	Upgrade
Common Dividends Paid	-2,931	-2,954	-2,674	-4,866	-	Upgrade
Other Financing Activities	3.75	-407.65	-5.04	-118.57	-134.8	Upgrade
Foreign Exchange Rate Adjustments	-25.31	-251.11	-28.91	4.52	0.39	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-	-7.95	-	Upgrade
Net Cash Flow	1,032	-230.38	-1,004	408.96	1,124	Upgrade
Cash Interest Paid	3,412	3,848	3,107	2,473	2,391	Upgrade
Cash Income Tax Paid	80.4	84.28	71.66	272.19	532.32	Upgrade
Levered Free Cash Flow	1,506	680.78	20,897	1,240	4,824	Upgrade
Unlevered Free Cash Flow	3,963	3,117	22,869	2,721	6,314	Upgrade
Change in Working Capital	-384.79	-230.66	-763.83	-175.11	118.46	Upgrade

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