AREIT Cash Flow Statement

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

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2017 - 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2017 - 2020
Net Income	8,577	7,317	5,031	2,888	2,433	6,265	Upgrade
Depreciation & Amortization	0.32	0.29	0.22	0.09	0.04	0.01	Upgrade
Asset Writedown	114.11	43.37	-99.25	548.95	-164.5	-1,425	Upgrade
Change in Accounts Receivable	-116.46	-88.17	-834.38	-340.42	-683.38	-90.14	Upgrade
Change in Accounts Payable	454.19	851.79	961.19	534.46	15.79	280.55	Upgrade
Change in Other Net Operating Assets	849.24	82.85	1,464	94.41	489.3	-97.18	Upgrade
Other Operating Activities	-1,270	-908.08	15.37	208.37	120.06	-3,406	Upgrade
Operating Cash Flow	8,608	7,299	6,538	3,933	2,211	1,527	Upgrade
Operating Cash Flow Growth	16.21%	11.64%	66.21%	77.94%	44.73%	75.81%	Upgrade
Acquisition of Real Estate Assets	-147.24	-1,348	-201.85	-81.84	-5,019	-1,484	Upgrade
Sale of Real Estate Assets	38.99	38.99	-	-	-	-	Upgrade
Net Sale / Acq. of Real Estate Assets	-108.26	-1,309	-201.85	-81.84	-5,019	-1,484	Upgrade
Other Investing Activities	-204.83	1,221	-1,735	-181.2	881.9	-343.3	Upgrade
Investing Cash Flow	-313.09	-88.24	-1,937	-263.05	-4,138	-1,827	Upgrade
Short-Term Debt Issued	-	-	3,000	300	34,380	-	Upgrade
Long-Term Debt Issued	-	-	-	-	2,957	-	Upgrade
Total Debt Issued	-	-	3,000	300	37,337	-	Upgrade
Short-Term Debt Repaid	-	-1,000	-3,300	-890	-33,490	-	Upgrade
Long-Term Debt Repaid	-	-55.23	-53.9	-49.23	-37.18	-32.8	Upgrade
Total Debt Repaid	-1,055	-1,055	-3,354	-939.23	-33,527	-32.8	Upgrade
Net Debt Issued (Repaid)	-1,055	-1,055	-353.9	-639.23	3,810	-32.8	Upgrade
Issuance of Common Stock	-	-	-	-	-	1,251	Upgrade
Common Dividends Paid	-6,911	-5,817	-4,068	-2,912	-1,733	-953.86	Upgrade
Total Dividends Paid	-6,911	-5,817	-4,068	-2,912	-1,733	-953.86	Upgrade
Other Financing Activities	-325.13	-308.94	-200.56	-148.21	-116.91	-28.01	Upgrade
Net Cash Flow	3.71	29.41	-20.99	-29.26	33.03	-63.2	Upgrade
Cash Interest Paid	183.23	167.04	94.84	100.26	81.04	-	Upgrade
Cash Income Tax Paid	2.67	3.11	1.07	0.12	0.05	190.61	Upgrade
Levered Free Cash Flow	6,024	5,043	1,814	1,810	3,071	625.15	Upgrade
Unlevered Free Cash Flow	6,220	5,242	1,962	1,954	3,177	666.04	Upgrade
Change in Working Capital	1,187	846.47	1,591	288.45	-178.28	93.23	Upgrade

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