ESR Kendall Square REIT Cash Flow Statement

Financials in millions KRW. Fiscal year is June - May.

Millions KRW. Fiscal year is Jun - May.

Fiscal Year	FY 2025	FY 2024	FY 2024	FY 2023	FY 2023	2018 - 2022
Period Ending	May '25 May 31, 2025	Nov '24 Nov 30, 2024	May '24 May 31, 2024	Nov '23 Nov 30, 2023	May '23 May 31, 2023	2018 - 2022
Net Income	19,557	7,201	45,068	23,705	56,028	Upgrade
Depreciation & Amortization	32,401	31,616	31,211	29,697	27,668	Upgrade
Loss (Gain) on Equity Investments	-19,201	-3,936	-36,301	-11,126	-33,707	Upgrade
Provision & Write-off of Bad Debts	4,564	-	-	-	-	Upgrade
Other Operating Activities	13,682	251.59	5,016	36,107	7,529	Upgrade
Change in Unearned Revenue	-840.12	1,486	170.1	-1,230	1,230	Upgrade
Change in Other Net Operating Assets	1,084	-21,204	1,701	-4,144	-4,190	Upgrade
Operating Cash Flow	51,248	15,414	46,865	73,009	54,557	Upgrade
Operating Cash Flow Growth	232.47%	-67.11%	-35.81%	33.82%	5.10%	Upgrade
Capital Expenditures	-430	-162,308	-222,029	-196.67	-263,929	Upgrade
Investment in Securities	-3,058	23,757	-9,710	54,528	-4,297	Upgrade
Other Investing Activities	-	-	-415.4	-	786	Upgrade
Investing Cash Flow	-3,488	-138,551	-232,154	54,331	-237,439	Upgrade
Total Debt Issued	-	837,000	780,000	20,000	225,200	Upgrade
Total Debt Repaid	-9,200	-675,600	-510,000	-40,000	-	Upgrade
Net Debt Issued (Repaid)	-9,200	161,400	270,000	-20,000	225,200	Upgrade
Dividends Paid	-58,386	-58,386	-58,386	-57,534	-57,960	Upgrade
Other Financing Activities	671.73	3,600	6,177	365.6	4,480	Upgrade
Financing Cash Flow	-66,915	106,614	217,790	-77,168	171,720	Upgrade
Miscellaneous Cash Flow Adjustments	0	0	-	-0	-	Upgrade
Net Cash Flow	-19,155	-16,523	32,501	50,172	-11,162	Upgrade
Free Cash Flow	50,818	-146,894	-175,164	72,813	-209,371	Upgrade
Free Cash Flow Margin	43.29%	-129.13%	-156.74%	68.75%	-211.56%	Upgrade
Free Cash Flow Per Share	239.05	-689.35	-822.02	341.70	-982.55	Upgrade
Cash Interest Paid	51,594	61,058	54,947	31,750	30,679	Upgrade
Cash Income Tax Paid	-757.48	890.51	-4,656	4,396	-253.16	Upgrade
Levered Free Cash Flow	29,926	-129,188	-188,703	43,523	-210,664	Upgrade
Unlevered Free Cash Flow	66,822	-96,478	-156,693	67,032	-190,753	Upgrade
Change in Working Capital	244.11	-19,718	1,871	-5,374	-2,961	Upgrade

Updated Oct 15, 2024. Source: S&P Global Market Intelligence. Standard template. Financial Sources.