Keppel DC REIT 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	427.82	300.67	118.53	230.91	313.66
Other Amortization	1.45	1.13	0.66	0.62	0.64
Gain (Loss) on Sale of Assets	-10.83	-31.61	-	-	0.2
Gain (Loss) on Sale of Investments	-	0.18	0.38	0.38	2.72
Asset Writedown	-161.65	-120.61	27.93	-68.29	-151.37
Stock-Based Compensation	9.88	5	5.15	4.97	2.43
Income (Loss) on Equity Investments	-	-	8.28	8.98	1
Change in Accounts Receivable	-56.33	-24.98	-2.71	-19.8	-14.09
Change in Accounts Payable	-41.63	13.07	-11.16	15.39	-7.79
Other Operating Activities	65.84	53.95	52.54	45.14	44.11
Operating Cash Flow	262.83	223.74	210.78	218.29	191.5
Operating Cash Flow Growth	17.47%	6.14%	-3.44%	13.99%	-18.50%
Acquisition of Real Estate Assets	-1,208	-1,155	-26.44	-294.97	-308.26
Sale of Real Estate Assets	65.48	75.11	-	-	-
Net Sale / Acq. of Real Estate Assets	-1,142	-1,080	-26.44	-294.97	-308.26
Investment in Marketable & Equity Securities	-	-	-	-1	-
Other Investing Activities	16.58	13.87	11	-2.73	-100.1
Investing Cash Flow	-1,126	-1,066	-15.44	-298.71	-374.38
Long-Term Debt Issued	1,284	692.8	265.43	518.01	551.18
Long-Term Debt Repaid	-622.09	-474.79	-274.24	-255.93	-412.35
Total Debt Repaid	-622.09	-474.79	-274.24	-255.93	-412.35
Net Debt Issued (Repaid)	661.97	218.01	-8.81	262.08	138.83
Issuance of Common Stock	489.46	1,001	-	-	204.28
Common Dividends Paid	-203.99	-152.96	-175.67	-146.88	-181.96
Other Financing Activities	-60.97	-61.59	-51.68	-31.53	-26.18
Foreign Exchange Rate Adjustments	1.64	-0.67	0.15	-8.8	-0.53
Net Cash Flow	25.33	161.49	-40.67	-5.54	-48.45
Cash Interest Paid	45.61	50.53	47.01	28.14	19.79
Cash Income Tax Paid	14.07	23.16	8.94	9.8	7.73
Levered Free Cash Flow	-132.54	262.92	122.09	124.53	86.71
Unlevered Free Cash Flow	-103.4	293.99	151.75	143.34	99.33
Change in Working Capital	-97.96	-11.91	-13.87	-4.42	-21.88

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