Vukile Property Fund Cash Flow Statement

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

Millions ZAR. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	5,742	3,209	1,587	1,932	1,909
Depreciation & Amortization	4	3	8	3	4
Other Amortization	3	-	-	-	119
Gain (Loss) on Sale of Investments	-2	10	-58	44	-14
Asset Writedown	-3,483	-1,193	-204	-638	-643
Stock-Based Compensation	80	82	18	49	38
Income (Loss) on Equity Investments	-311	-177	-7	-10	-23
Change in Accounts Receivable	-	-	-	45	78
Change in Accounts Payable	-	-	-	28	6
Change in Other Net Operating Assets	86	194	2	-10	7
Other Operating Activities	1,338	487	899	646	573
Operating Cash Flow	3,457	2,615	2,245	2,089	2,054
Operating Cash Flow Growth	32.20%	16.48%	7.47%	1.70%	74.36%
Acquisition of Real Estate Assets	-5,465	-11,217	-864	-422	-552
Sale of Real Estate Assets	160	185	181	137	1,218
Net Sale / Acq. of Real Estate Assets	-5,305	-11,032	-683	-285	666
Investment in Marketable & Equity Securities	-136	3,082	-161	209	-1,113
Other Investing Activities	260	707	376	-18	279
Investing Cash Flow	-4,905	-7,246	-479	-99	356
Long-Term Debt Issued	4,955	8,930	7,700	3,163	8,974
Long-Term Debt Repaid	-1,108	-5,186	-6,644	-2,339	-9,188
Net Debt Issued (Repaid)	3,847	3,744	1,056	824	-214
Issuance of Common Stock	2,636	2,292	1,692	-	300
Common Dividends Paid	-1,776	-1,478	-1,214	-1,105	-1,353
Other Financing Activities	-1,453	-85	-2,366	-996	-1,556
Foreign Exchange Rate Adjustments	-198	-60	32	109	-25
Net Cash Flow	1,608	-218	966	822	-438
Cash Interest Paid	1,320	1,174	991	795	646
Cash Income Tax Paid	113	9	11	11	24
Levered Free Cash Flow	-2,348	1,215	1,177	660.75	1,238
Unlevered Free Cash Flow	-1,457	2,020	1,866	1,189	1,596
Change in Working Capital	86	194	2	63	91