CapitaLand China Trust Cash Flow Statement

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

Millions SGD. 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	5.57	-3.94	54.97	155.13	106.68
Depreciation & Amortization	0.61	0.66	0.95	1.16	1.31
Other Amortization	-	0.05	0.06	0.06	0.06
Gain (Loss) on Sale of Assets	11.99	-7.31	-	1.83	-13.16
Asset Writedown	50.68	89.78	39.87	-67.81	10.26
Stock-Based Compensation	12.56	13.88	14.93	15.36	14.29
Change in Accounts Receivable	-0.21	0.93	9.86	-11	11.97
Change in Accounts Payable	-10.76	-6.33	-18.48	-23.31	4.94
Other Operating Activities	81.38	88.03	103.81	110.07	80.96
Operating Cash Flow	152.73	175.8	206.07	182.08	217.47
Operating Cash Flow Growth	-13.12%	-14.69%	13.18%	-16.27%	176.78%
Acquisition of Real Estate Assets	-16.97	-17.25	-37.82	-38.78	-43.72
Sale of Real Estate Assets	-	0	0	0.01	0
Net Sale / Acq. of Real Estate Assets	-16.97	-17.25	-37.82	-38.78	-43.72
Cash Acquisition	-	-	-	-9.36	-616.38
Investment in Marketable & Equity Securities	-20.42	-	-	-	-
Other Investing Activities	1.49	3.43	3.72	4.17	-43.04
Investing Cash Flow	95.74	85.15	-5.63	-43.96	-533.42
Long-Term Debt Issued	668.45	363.18	715.95	492.47	811.3
Long-Term Debt Repaid	-821.47	-461.94	-700.7	-508.95	-446.36
Net Debt Issued (Repaid)	-153.02	-98.76	15.25	-16.48	364.94
Issuance of Common Stock	150	-	-	-	150
Repurchase of Common Stock	-100	-	-	-	-
Common Dividends Paid	-92.12	-92.86	-121.66	-99.17	-101.79
Other Financing Activities	-41.36	-84.23	-71.58	-57.86	-50.39
Foreign Exchange Rate Adjustments	-3.08	-1.1	-8.67	-22.42	8.81
Miscellaneous Cash Flow Adjustments	-	1.38	-1.38	-	24.8
Net Cash Flow	8.89	-14.62	12.42	-57.81	80.42
Cash Interest Paid	57.63	64.8	67.48	56.45	44.92
Cash Income Tax Paid	33.34	40.43	32.36	32.09	44.9
Levered Free Cash Flow	98.13	156.1	1.26	84.76	432.01
Unlevered Free Cash Flow	134.32	208.08	59.35	124.92	456.55
Change in Working Capital	-10.97	-5.4	-8.62	-34.31	16.91

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.