SM Prime Holdings Cash Flow Statement

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

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	48,848	45,632	40,011	30,100	21,787
Depreciation & Amortization	15,536	15,038	13,657	12,488	10,817
Other Amortization	792.96	825.65	-	-	-
Gain (Loss) on Sale of Assets	-32.26	-24.56	148.14	105.7	-551.97
Income (Loss) on Equity Investments	-2,785	-2,043	-2,163	-1,720	-1,187
Change in Accounts Receivable	-9,300	-23,886	-16,337	-8,760	-16,304
Change in Accounts Payable	7,981	13,339	19,253	1,830	12,049
Change in Other Net Operating Assets	-1,287	3,510	-494.67	1,566	-1,668
Other Operating Activities	11,588	13,781	14,019	12,547	10,424
Operating Cash Flow	74,911	67,289	62,655	35,693	30,667
Operating Cash Flow Growth	11.33%	7.40%	75.54%	16.39%	78.40%
Acquisition of Real Estate Assets	-76,646	-69,726	-64,113	-38,964	-39,463
Sale of Real Estate Assets	12.35	464.44	90.07	85.77	453.3
Net Sale / Acq. of Real Estate Assets	-76,634	-69,261	-64,023	-38,879	-39,010
Cash Acquisition	-50	-	-	-	-
Other Investing Activities	-3,260	4,707	-2,691	-13,366	-5,104
Investing Cash Flow	-79,944	-64,554	-66,714	-52,244	-44,114
Long-Term Debt Issued	197,105	165,601	111,563	94,326	86,849
Short-Term Debt Repaid	-80,967	-73,673	-29,564	-19,995	-15,960
Long-Term Debt Repaid	-86,467	-73,096	-67,576	-44,707	-35,384
Total Debt Repaid	-167,435	-146,769	-97,139	-64,702	-51,344
Net Debt Issued (Repaid)	29,670	18,832	14,424	29,624	35,505
Repurchase of Common Stock	-1,242	-	-	-	-
Common Dividends Paid	-14,378	-10,439	-7,163	-2,943	-2,675
Other Financing Activities	-12,634	-11,690	-13,487	-7,755	-10,207
Foreign Exchange Rate Adjustments	16.8	-8.62	43.04	-90.42	-62.79
Net Cash Flow	-3,601	-570.63	-10,243	2,284	9,114
Cash Interest Paid	12,765	14,086	13,782	11,029	9,838
Cash Income Tax Paid	10,384	8,726	7,665	6,584	3,232
Levered Free Cash Flow	68,248	40,086	48,995	8,390	5,337
Unlevered Free Cash Flow	76,286	48,695	57,950	15,829	11,438
Change in Working Capital	964.08	-5,920	-3,016	-17,827	-10,620

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