FESNF 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	28.98	36.75	63.34	33.59	63.11
Depreciation & Amortization	0.02	0.01	0.01	0.01	0.01
Other Amortization	4.71	4.53	4.68	5.36	5.22
Gain (Loss) on Sale of Assets	7.54	-	-	0.71	-2.71
Gain (Loss) on Sale of Investments	0	0.01	0.01	0.03	0
Asset Writedown	3.53	9.58	-10.83	22.65	4.52
Stock-Based Compensation	4.18	4.29	4.47	4.71	4.47
Change in Accounts Receivable	-3.69	0.9	-6.68	23.62	5.54
Change in Accounts Payable	6.08	-0.32	7.07	-0.56	-2.64
Change in Other Net Operating Assets	0.15	-1.77	-0.25	5.28	-5.46
Other Operating Activities	13.19	11.78	8.15	-2.33	-6.12
Operating Cash Flow	64.68	65.77	69.96	93.08	66.58
Operating Cash Flow Growth	-1.67%	-5.98%	-24.84%	39.80%	32.11%
Acquisition of Real Estate Assets	-3.75	-5.93	-4.92	-35.37	-0.66
Sale of Real Estate Assets	-	-	-	-	6.11
Net Sale / Acq. of Real Estate Assets	-3.75	-5.93	-4.92	-35.37	5.45
Cash Acquisition	-	-	-	5.28	-
Investment in Marketable & Equity Securities	-0	-0.01	-0.01	-0.03	-0
Other Investing Activities	0.3	0.5	0.31	0.28	0.13
Investing Cash Flow	18.99	-5.44	-4.62	8.12	5.24
Long-Term Debt Issued	6	7	122	379.27	252.37
Long-Term Debt Repaid	-0.87	-0.89	-115.86	-381.53	-393.15
Net Debt Issued (Repaid)	5.13	6.12	6.14	-2.26	-140.78
Issuance of Common Stock	-	-	-	-	157.7
Repurchase of Common Stock	-	-	-	-19.12	-
Common Dividends Paid	-48.59	-51.77	-53.79	-52.48	-41.58
Other Financing Activities	-17.12	-19.26	-21.61	-28.79	-15.43
Foreign Exchange Rate Adjustments	-1.56	-1.01	-1.91	-3.65	0.17
Net Cash Flow	21.52	-5.59	-5.84	-5.1	31.91
Cash Interest Paid	15.83	18.24	17.84	14.67	10.65
Cash Income Tax Paid	13.22	12.39	12.13	14.6	4.42
Levered Free Cash Flow	46.96	48.67	49.11	80.46	68.83
Unlevered Free Cash Flow	55.32	58.38	58.62	87.25	69
Change in Working Capital	2.54	-1.18	0.14	28.34	-2.55

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