AREIT Cash Flow Statement

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

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	7,317	5,031	2,888	2,433
Depreciation & Amortization	0.29	0.22	0.09	0.04
Asset Writedown	43.37	-99.25	548.95	-164.5
Change in Accounts Receivable	-88.17	-834.38	-340.42	-683.38
Change in Accounts Payable	851.79	961.19	534.46	15.79
Change in Other Net Operating Assets	82.85	1,464	94.41	489.3
Other Operating Activities	-908.08	15.37	208.37	120.06
Operating Cash Flow	7,299	6,538	3,933	2,211
Operating Cash Flow Growth	11.64%	66.21%	77.94%	44.73%
Acquisition of Real Estate Assets	-1,348	-201.85	-81.84	-5,019
Sale of Real Estate Assets	38.99	-	-	-
Net Sale / Acq. of Real Estate Assets	-1,309	-201.85	-81.84	-5,019
Other Investing Activities	1,221	-1,735	-181.2	881.9
Investing Cash Flow	-88.24	-1,937	-263.05	-4,138
Short-Term Debt Issued	-	3,000	300	34,380
Long-Term Debt Issued	-	-	-	2,957
Total Debt Issued	-	3,000	300	37,337
Short-Term Debt Repaid	-1,000	-3,300	-890	-33,490
Long-Term Debt Repaid	-55.23	-53.9	-49.23	-37.18
Total Debt Repaid	-1,055	-3,354	-939.23	-33,527
Net Debt Issued (Repaid)	-1,055	-353.9	-639.23	3,810
Common Dividends Paid	-5,817	-4,068	-2,912	-1,733
Total Dividends Paid	-5,817	-4,068	-2,912	-1,733
Other Financing Activities	-308.94	-200.56	-148.21	-116.91
Net Cash Flow	29.41	-20.99	-29.26	33.03
Cash Interest Paid	167.04	94.84	100.26	81.04
Cash Income Tax Paid	3.11	1.07	0.12	0.05
Levered Free Cash Flow	5,043	1,814	1,810	3,071
Unlevered Free Cash Flow	5,242	1,962	1,954	3,177
Change in Working Capital	846.47	1,591	288.45	-178.28

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.