RL Commercial REIT 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	18,180	16,990	11,463	-5,569	1,679	-0.02
Depreciation & Amortization	50.11	42.12	29.35	29.35	12.14	-
Asset Writedown	-10,874	-10,877	-7,024	9,958	-5.56	-
Change in Accounts Receivable	261.34	-1,216	300.16	-432.43	-547.43	-
Change in Accounts Payable	359.17	1,222	125.55	658.72	260.59	-0.04
Change in Other Net Operating Assets	25.85	754.46	168.97	-103.94	1,092	-
Other Operating Activities	36.94	31.17	8.84	9.72	3.95	-
Operating Cash Flow	8,039	6,947	5,072	4,550	2,495	-0.05
Operating Cash Flow Growth	78.27%	36.98%	11.46%	82.37%	-	-
Acquisition of Real Estate Assets	-147.88	-137.44	-19.94	-840.91	-110.56	-
Net Sale / Acq. of Real Estate Assets	-147.88	-137.44	-19.94	-840.91	-110.56	-
Other Investing Activities	-165.29	-83.41	-83.34	-172.63	-313.73	-
Investing Cash Flow	-313.17	-220.85	-103.27	-1,014	-424.3	-
Issuance of Common Stock	-	-	-	-	18.75	0.05
Common Dividends Paid	-6,875	-5,171	-4,194	-3,887	-616.84	-
Other Financing Activities	-28.76	-49.88	-	-7.78	-99.24	-
Net Cash Flow	822.25	1,505	774.1	-358.54	1,373	-
Cash Income Tax Paid	24.68	21.43	9.61	2.81	-	-
Levered Free Cash Flow	5,267	4,411	3,420	3,055	-	-
Unlevered Free Cash Flow	5,296	4,433	3,426	3,061	-	-
Change in Working Capital	646.35	760.79	594.67	122.35	805.39	-0.04

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