Heineken Malaysia Berhad Cash Flow Statement

Financials in millions MYR. Fiscal year is January - December.

Millions MYR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	458.95	466.75	386.8	412.82	245.68	154.2
Depreciation & Amortization	91.82	85.26	69.32	74.1	64.49	60.85
Other Amortization	11.83	11.28	12.65	7.88	33.51	46.81
Loss (Gain) From Sale of Assets	2.12	-0.14	-0.25	-0.11	-0.83	-0.26
Asset Writedown & Restructuring Costs	0.27	0.27	0.53	-0.24	1.72	17.83
Provision & Write-off of Bad Debts	-	-	-	0.51	-0.33	1.29
Other Operating Activities	12.13	-8.9	-20.06	8.91	4.84	-30.59
Change in Accounts Receivable	-1.36	-20.59	159.74	-189.84	-113.24	245.36
Change in Inventory	-20.79	-32.36	61.94	-41.17	31.6	-121.68
Change in Accounts Payable	-21.55	11.05	-86.57	196.21	72.43	-147.5
Operating Cash Flow	533.43	512.62	584.1	469.07	339.87	226.3
Operating Cash Flow Growth	-18.89%	-12.24%	24.52%	38.01%	50.19%	-44.98%
Capital Expenditures	-67.44	-74.25	-133.58	-170.48	-98.82	-57.48
Sale of Property, Plant & Equipment	0.13	0.16	0.26	0.12	0.83	0.21
Sale (Purchase) of Intangibles	-10.62	-4.08	-5.52	-9.55	-5.36	-3.94
Other Investing Activities	1.03	1.18	1.15	1.19	1.56	4.19
Investing Cash Flow	-76.89	-76.99	-137.68	-178.72	-101.8	-57.01
Short-Term Debt Issued	-	-	-	9.87	-	152
Total Debt Issued	90	-	-	9.87	-	152
Short-Term Debt Repaid	-	-55	-35	-	-89.21	-
Long-Term Debt Repaid	-	-4.78	-3.76	-3.92	-4.91	-5.07
Total Debt Repaid	-50.84	-59.78	-38.76	-3.92	-94.11	-5.07
Net Debt Issued (Repaid)	39.16	-59.78	-38.76	5.95	-94.11	146.93
Common Dividends Paid	-468.25	-386.69	-416.9	-320.22	-199.39	-199.39
Financing Cash Flow	-429.09	-446.46	-455.65	-314.27	-293.5	-52.45
Net Cash Flow	27.45	-10.83	-9.24	-23.93	-55.42	116.83
Free Cash Flow	466	438.37	450.52	298.59	241.05	168.83
Free Cash Flow Growth	-14.37%	-2.70%	50.89%	23.87%	42.78%	-45.45%
Free Cash Flow Margin	16.75%	15.67%	17.08%	10.46%	12.18%	9.58%
Free Cash Flow Per Share	1.54	1.45	1.49	0.99	0.80	0.56
Cash Interest Paid	12.49	12.61	8.59	2.92	4.06	9.12
Cash Income Tax Paid	122.43	126.27	151.18	173.09	75.57	77.58
Levered Free Cash Flow	386.35	368.67	389.89	262.83	225.65	182.55
Unlevered Free Cash Flow	394.25	376.55	395.25	264.66	228.19	188.25
Change in Working Capital	-43.69	-41.9	135.11	-34.81	-9.21	-23.82

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.