Shang Properties 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	2016 - 2020
Period Ending	Mar '25 Mar 31, 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	2016 - 2020
Net Income	9,231	9,357	5,518	3,634	2,124	1,470	Upgrade
Depreciation & Amortization	308.84	396.35	377.13	387.94	995.49	1,113	Upgrade
Gain (Loss) on Sale of Assets	-0.27	-0.27	-1.31	-0.37	-7.89	-0.36	Upgrade
Gain (Loss) on Sale of Investments	4.14	2.51	-4.01	-0.58	2.81	2.65	Upgrade
Asset Writedown	-5,201	-5,201	-	-	-	-	Upgrade
Restructuring Activities	-	-	-	-	-	33.99	Upgrade
Income (Loss) on Equity Investments	-2,579	-2,527	-2,461	-1,422	-404.71	-185.53	Upgrade
Change in Accounts Receivable	-641.05	-1,835	-1,282	-1,215	-89.83	208.11	Upgrade
Change in Accounts Payable	604.57	47.44	367.74	370.27	-825.48	-340.01	Upgrade
Change in Other Net Operating Assets	-1,026	-1,150	-1,259	-38.58	-256.32	-224.6	Upgrade
Other Operating Activities	1,746	2,191	1,229	809.85	-1,166	-30.35	Upgrade
Operating Cash Flow	1,323	-495.45	1,237	1,181	-353.63	1,028	Upgrade
Operating Cash Flow Growth	-	-	4.72%	-	-	-75.04%	Upgrade
Acquisition of Real Estate Assets	-5,071	-4,715	-1,349	-735.35	-584.47	-519.89	Upgrade
Sale of Real Estate Assets	0.04	0.04	7.62	8.74	9.78	0.7	Upgrade
Net Sale / Acq. of Real Estate Assets	-5,071	-4,715	-1,342	-726.61	-574.69	-519.18	Upgrade
Investment in Marketable & Equity Securities	227.25	-145.6	-10.49	-23.91	-5.41	-10.76	Upgrade
Other Investing Activities	803.74	803.74	8.17	0.67	11.66	-452.89	Upgrade
Investing Cash Flow	-4,040	-4,056	-1,344	-749.86	-568.44	-982.83	Upgrade
Long-Term Debt Issued	-	8,740	3,175	3,460	3,256	2,550	Upgrade
Long-Term Debt Repaid	-	-760	-1,370	-2,865	-1,433	-2,603	Upgrade
Net Debt Issued (Repaid)	5,938	7,980	1,805	595	1,823	-53.33	Upgrade
Common Dividends Paid	-1,226	-922.2	-1,369	-786.35	-602.61	-718.75	Upgrade
Other Financing Activities	-703.03	-745.98	-240.8	-321.8	-477.84	-360.72	Upgrade
Foreign Exchange Rate Adjustments	14.29	3.54	2.11	24.26	6.36	-2.52	Upgrade
Net Cash Flow	1,306	1,763	89.54	-57.88	-173.49	-1,090	Upgrade
Cash Interest Paid	40.7	33.62	54.04	110.58	88.36	106.06	Upgrade
Cash Income Tax Paid	952.13	722.81	475.94	307.35	468.12	609.63	Upgrade
Levered Free Cash Flow	3,845	870.66	2,524	940.13	888.72	595.44	Upgrade
Unlevered Free Cash Flow	3,890	910.74	2,556	1,008	963.37	682.26	Upgrade
Change in Net Working Capital	1,032	4,188	2,153	2,209	798.89	1,331	Upgrade

Updated Nov 15, 2024. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.