Manila Electric Company 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	45,859	38,023	28,431	23,498
Depreciation & Amortization	17,057	16,201	15,613	12,499
Other Amortization	558	619	418	-
Loss (Gain) on Equity Investments	-10,267	-11,479	-12,035	-3,127
Asset Writedown	-117	-1,179	2,601	-
Change in Accounts Receivable	-31,336	1,589	-15,083	11,127
Change in Inventory	-293	-753	-812	-2,136
Change in Accounts Payable	10,565	-2,961	18,253	-12,832
Change in Other Net Operating Assets	203	7,259	-4,317	1,506
Other Operating Activities	7,960	9,657	-10,435	12,089
Operating Cash Flow	42,010	57,974	25,182	43,181
Operating Cash Flow Growth	-27.54%	130.22%	-41.68%	44.55%
Capital Expenditures	-39,150	-24,800	-33,663	-26,260
Sale of Property, Plant & Equipment	194	7	914	161
Cash Acquisitions	-	-5,853	-	-17,840
Divestitures	881	454	4,164	-
Sale (Purchase) of Intangibles	-5,361	-4,137	-8,533	-976
Investment in Securities	8,282	22,674	8,968	-8,513
Other Investing Activities	16,391	13,226	6,072	3,962
Investing Cash Flow	-18,763	1,569	-22,081	-49,467
Short-Term Debt Issued	7,742	1,331	2,920	22,880
Long-Term Debt Issued	6,523	2,803	32,507	24,513
Total Debt Issued	14,265	4,134	35,427	47,393
Short-Term Debt Repaid	-1,038	-3,239	-2,263	-17,419
Long-Term Debt Repaid	-8,133	-8,500	-18,679	-7,388
Total Debt Repaid	-9,171	-11,739	-20,942	-24,807
Net Debt Issued (Repaid)	5,094	-7,605	14,485	22,586
Common Dividends Paid	-23,823	-21,691	-16,890	-13,748
Other Financing Activities	-2,862	-3,309	129	2,023
Financing Cash Flow	-21,591	-32,605	-2,276	10,861
Foreign Exchange Rate Adjustments	35	19	-	-480
Net Cash Flow	1,691	26,957	825	4,095
Free Cash Flow	2,860	33,174	-8,481	16,921
Free Cash Flow Growth	-91.38%	-	-	65.73%
Free Cash Flow Margin	0.61%	7.48%	-1.99%	5.31%
Free Cash Flow Per Share	2.54	29.44	-7.53	15.01
Cash Interest Paid	2,608	4,564	4,310	4,098
Cash Income Tax Paid	6,683	1,518	3,317	6,902
Levered Free Cash Flow	-9,145	43,902	19,270	17,993
Unlevered Free Cash Flow	-6,435	46,550	21,750	20,195
Change in Working Capital	-20,861	5,134	-1,959	-2,335

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