Heineken Malaysia Berhad Cash Flow Statement

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

Millions MYR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	459.34	466.75	386.8	412.82	245.68
Depreciation & Amortization	89.78	85.26	69.32	74.1	64.49
Other Amortization	6.08	6.08	12.65	7.88	33.51
Loss (Gain) From Sale of Assets	-0.08	-0.13	-0.25	-0.11	-0.83
Asset Writedown & Restructuring Costs	5.39	0.27	0.53	-0.24	1.72
Loss (Gain) From Sale of Investments	0.05	-	-	-	-
Stock-Based Compensation	0.37	0.6	-	-	-
Provision & Write-off of Bad Debts	-	-	-	0.51	-0.33
Other Operating Activities	6.12	-8.9	-20.06	8.91	4.84
Change in Accounts Receivable	-71.15	-15.4	159.74	-189.84	-113.24
Change in Inventory	-0.22	-32.36	61.94	-41.17	31.6
Change in Accounts Payable	-1.63	10.45	-86.57	196.21	72.43
Operating Cash Flow	494.06	512.62	584.1	469.07	339.87
Operating Cash Flow Growth	-3.62%	-12.24%	24.52%	38.01%	50.19%
Capital Expenditures	-96.03	-74.25	-133.58	-170.48	-98.82
Sale of Property, Plant & Equipment	0.1	0.16	0.26	0.12	0.83
Sale (Purchase) of Intangibles	-12.27	-4.08	-5.52	-9.55	-5.36
Other Investing Activities	1.01	1.18	1.15	1.19	1.56
Investing Cash Flow	-107.18	-76.99	-137.68	-178.72	-101.8
Short-Term Debt Issued	70	-	-	9.87	-
Total Debt Issued	70	-	-	9.87	-
Short-Term Debt Repaid	-	-55	-35	-	-89.21
Long-Term Debt Repaid	-5.71	-4.78	-3.76	-3.92	-4.91
Total Debt Repaid	-5.71	-59.78	-38.76	-3.92	-94.11
Net Debt Issued (Repaid)	64.29	-59.78	-38.76	5.95	-94.11
Common Dividends Paid	-468.25	-386.69	-416.9	-320.22	-199.39
Financing Cash Flow	-403.96	-446.46	-455.65	-314.27	-293.5
Net Cash Flow	-17.08	-10.83	-9.24	-23.93	-55.42
Free Cash Flow	398.03	438.37	450.52	298.59	241.05
Free Cash Flow Growth	-9.20%	-2.70%	50.89%	23.87%	42.78%
Free Cash Flow Margin	14.22%	15.67%	17.08%	10.46%	12.18%
Free Cash Flow Per Share	1.32	1.45	1.49	0.99	0.80
Cash Interest Paid	11.45	12.61	8.59	2.92	4.06
Cash Income Tax Paid	144.78	126.27	151.18	173.09	75.57
Levered Free Cash Flow	297.85	363.47	389.89	262.83	225.65
Unlevered Free Cash Flow	305.01	371.35	395.25	264.66	228.19
Change in Working Capital	-73	-37.31	135.11	-34.81	-9.21

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.