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

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