Philippine Estates 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
Period Ending	Sep '25 Sep 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
Net Income	325.65	62.87	58.47	27.59	45.81	34.58
Depreciation & Amortization	4.96	4.87	3.87	4.15	4.03	4.25
Other Amortization	0.35	0.35	0.09	-	0.12	0.03
Provision & Write-off of Bad Debts	0.31	0.31	3.29	-0.24	-0.14	2.4
Other Operating Activities	33.83	33.83	26.88	23.24	7.91	16.8
Change in Accounts Receivable	-104.53	162.53	-73.35	-187.84	0.58	243.71
Change in Inventory	-74.08	-196.61	9.82	-1,162	-40.34	-385.08
Change in Accounts Payable	79.64	51.35	12.95	-8.93	18.22	2.23
Change in Unearned Revenue	20.28	58.58	-54.31	19.34	-24.81	83.73
Change in Other Net Operating Assets	55.61	40.02	28.67	-90.01	3.04	7.04
Operating Cash Flow	342.01	218.09	16.37	-1,375	14.43	9.69
Operating Cash Flow Growth	93.18%	1232.02%	-	-	48.87%	-73.05%
Capital Expenditures	-1.73	-1.17	-0.72	-0.63	-1.25	-0.31
Investment in Securities	-	-	-	-	-	-37.5
Other Investing Activities	-108.21	-108.21	31.61	-81.12	-2.45	16.76
Investing Cash Flow	-109.94	-109.38	30.89	-81.75	-3.7	-21.05
Long-Term Debt Issued	-	142.51	106.98	140.71	105.22	91.77
Long-Term Debt Repaid	-	-222.84	-136.57	-113.64	-105.46	-60.71
Net Debt Issued (Repaid)	-293.32	-80.34	-29.59	27.07	-0.24	31.06
Issuance of Common Stock	-	-	0.08	1,072	373.55	-
Other Financing Activities	78.94	-15.13	-15.23	-14.42	-15.84	-15.87
Financing Cash Flow	-214.39	-95.47	-44.73	1,085	357.47	15.2
Net Cash Flow	17.69	13.24	2.53	-372.14	368.2	3.83
Free Cash Flow	340.28	216.91	15.66	-1,376	13.17	9.38
Free Cash Flow Growth	92.72%	1285.43%	-	-	40.43%	-73.71%
Free Cash Flow Margin	-	156.48%	5.65%	-612.10%	7.31%	5.54%
Free Cash Flow Per Share	0.12	0.07	0.01	-0.58	0.01	0.01
Cash Interest Paid	15.13	15.13	15.23	14.42	15.84	15.87
Cash Income Tax Paid	26.11	26.11	10.97	6.46	5.93	4.22
Levered Free Cash Flow	92.57	260.69	-352.88	-1,387	268.21	-278.51
Unlevered Free Cash Flow	102.4	270.25	-343.27	-1,378	278.25	-268.45
Change in Working Capital	-23.08	115.86	-76.23	-1,430	-43.31	-48.37

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