Shinhan Seobu T&D REIT Cash Flow Statement

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

Millions KRW. Fiscal year is Jul - Jun.

Fiscal Year	FY 2025	FY 2024	FY 2024	FY 2023	FY 2023	2020 - 2022
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Jun '24 Jun 30, 2024	Dec '23 Dec 31, 2023	Jun '23 Jun 30, 2023	2020 - 2022
Net Income	-7,340	20,542	-2,236	10,627	9,007	Upgrade
Depreciation & Amortization	10,688	8,640	8,640	8,497	8,220	Upgrade
Loss (Gain) From Sale of Assets	-	-	5,241	-	-	Upgrade
Loss (Gain) on Equity Investments	-	-8,805	2,793	-	-	Upgrade
Other Operating Activities	13,261	-939.56	1,243	3,729	1,157	Upgrade
Change in Accounts Receivable	-1,467	-163.04	-405.18	-956.25	83.7	Upgrade
Change in Unearned Revenue	-7,312	2,012	-5,828	1,907	-6,207	Upgrade
Change in Other Net Operating Assets	-2,430	-3,150	3,877	-3,318	2,893	Upgrade
Operating Cash Flow	5,400	18,137	13,325	20,485	15,153	Upgrade
Operating Cash Flow Growth	-70.23%	36.11%	-34.95%	35.19%	-22.04%	Upgrade
Capital Expenditures	-302,932	-	-614,816	-114,453	-4,412	Upgrade
Cash Acquisitions	-40,000	-	-29,884	-	-	Upgrade
Divestitures	-	3,325	-	-	-	Upgrade
Investment in Securities	3,121	3,000	8,000	-2,000	16,000	Upgrade
Investing Cash Flow	-339,811	6,325	-636,700	-116,453	11,588	Upgrade
Total Debt Issued	211,760	184,000	482,977	487,158	-	Upgrade
Total Debt Repaid	-	-144,000	-	-390,146	-	Upgrade
Net Debt Issued (Repaid)	211,760	40,000	482,977	97,012	-	Upgrade
Issuance of Common Stock	-	-	147,000	-	-	Upgrade
Dividends Paid	-20,091	-13,206	-15,668	-16,787	-17,906	Upgrade
Other Financing Activities	107,507	-0	3,839	3,600	-	Upgrade
Financing Cash Flow	299,176	26,794	618,148	83,825	-17,906	Upgrade
Miscellaneous Cash Flow Adjustments	-	0	0	0	-	Upgrade
Net Cash Flow	-35,235	51,256	-5,226	-12,142	8,835	Upgrade
Free Cash Flow	-297,532	18,137	-601,491	-93,967	10,741	Upgrade
Free Cash Flow Growth	-	-	-	-	-44.74%	Upgrade
Free Cash Flow Margin	-552.12%	50.22%	-1715.56%	-285.22%	35.95%	Upgrade
Free Cash Flow Per Share	-5313.80	324.13	-10749.38	-1679.31	190.80	Upgrade
Cash Interest Paid	26,514	15,352	15,194	8,458	7,264	Upgrade
Cash Income Tax Paid	-125.66	163.14	-197.98	110.77	8.68	Upgrade
Levered Free Cash Flow	-266,030	34,413	-605,528	-101,838	8,313	Upgrade
Unlevered Free Cash Flow	-244,995	46,198	-594,213	-94,484	13,813	Upgrade
Change in Working Capital	-11,208	-1,301	-2,355	-2,367	-3,231	Upgrade

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