KB STAR REIT Cash Flow Statement

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

Millions KRW. Fiscal year is Aug - Jul.

Fiscal Year	FY 2025	FY 2025	FY 2024	FY 2024	FY 2023
Period Ending	Jul '25 Jul 31, 2025	Jan '25 Jan 31, 2025	Jul '24 Jul 31, 2024	Jan '24 Jan 31, 2024	Jul '23 Jul 31, 2023
Net Income	-198,825	37,929	-63,583	102,110	-110,776
Depreciation & Amortization	16,241	15,294	15,911	14,749	15,291
Gain (Loss) on Sale of Investments	4,392	-17,872	-2,755	212.7	-1,253
Asset Writedown	175,716	-	88,285	-79,436	79,259
Change in Accounts Payable	-	-526.2	120.11	-11,303	9,144
Change in Other Net Operating Assets	-2,378	11,215	-9,218	831.78	7,547
Other Operating Activities	35,355	-683.1	647.55	4,487	12,819
Operating Cash Flow	27,550	35,427	27,470	23,573	10,595
Operating Cash Flow Growth	-22.23%	28.97%	16.53%	122.50%	-
Acquisition of Real Estate Assets	-	-	-89.6	-	-
Net Sale / Acq. of Real Estate Assets	-	-	-89.6	-	-
Cash Acquisition	-	-	-148,739	-	-13,190
Investment in Marketable & Equity Securities	-60,034	-9,391	8,571	-41,000	61,272
Other Investing Activities	-133,902	-	-0	-	-0
Investing Cash Flow	-193,936	-9,391	-140,257	-41,000	48,083
Total Debt Issued	300,000	-	120,000	50,000	-
Total Debt Repaid	-120,000	-3,861	-	-	-
Net Debt Issued (Repaid)	180,000	-3,861	120,000	50,000	-
Common & Preferred Dividends Paid	-36,509	-38,132	-38,132	-38,132	-33,467
Total Dividends Paid	-36,509	-38,132	-38,132	-38,132	-33,467
Other Financing Activities	-2,793	-	-504.48	-165.94	-
Foreign Exchange Rate Adjustments	10,095	5,771	5,952	2,866	2,627
Net Cash Flow	-15,593	-10,186	-25,471	-2,858	27,838
Cash Interest Paid	26,875	21,020	16,907	6,614	21,106
Cash Income Tax Paid	4,763	4,278	1.73	11,972	-4,315
Levered Free Cash Flow	-136,821	69,809	346.01	73,867	-
Unlevered Free Cash Flow	-116,558	85,106	13,086	83,706	-
Change in Working Capital	-5,329	758.76	-11,036	-18,550	15,256

Updated Apr 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.