PIA Holding Company Cash Flow Statement

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

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	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	-15,548	-87,395	-97,302	-53,374	-43,555
Depreciation & Amortization	16,717	17,268	15,238	13,881	17,080
Other Amortization	86.2	107.28	151.99	647.76	642.68
Loss (Gain) From Sale of Assets	-3.83	-0.01	-11.78	15.18	-830.84
Asset Writedown & Restructuring Costs	-918.47	-31,872	8,307	-3,728	-
Loss (Gain) on Equity Investments	-	1	0.85	0.92	-0.98
Provision & Write-off of Bad Debts	-	-	-113.37	1,192	540.5
Other Operating Activities	32,332	72,505	38,804	14,039	12,911
Change in Accounts Receivable	3,679	4,717	-5,786	-5,091	8,454
Change in Inventory	-617.01	-568.79	-629.45	29.17	605.31
Change in Accounts Payable	-168.98	59,573	40,979	-545.19	-2,438
Change in Other Net Operating Assets	-10,274	-11,876	-262.16	9,388	-4,915
Operating Cash Flow	25,285	22,459	-623.66	-23,546	-11,507
Operating Cash Flow Growth	12.58%	-	-	-	-
Capital Expenditures	-1,736	-4,300	-3,983	-2,012	-3,211
Sale of Property, Plant & Equipment	50.55	0.24	17.3	21.51	-
Sale (Purchase) of Intangibles	-	-41.19	-96.36	-96.6	105.14
Investment in Securities	-886.6	-4,212	-	-	-
Investing Cash Flow	-2,572	-8,553	-4,062	-2,088	-3,106
Short-Term Debt Issued	7,005	17,000	-	-	-
Long-Term Debt Issued	-	28,307	54,448	86,631	49,489
Total Debt Issued	7,005	45,307	54,448	86,631	49,489
Short-Term Debt Repaid	-	-	-	-	-13,240
Long-Term Debt Repaid	-20,410	-62,992	-50,381	-54,814	-30,817
Total Debt Repaid	-20,410	-62,992	-50,381	-54,814	-44,057
Net Debt Issued (Repaid)	-13,404	-17,685	4,067	31,817	5,432
Common Dividends Paid	-8.53	-260.6	-	-	-
Financing Cash Flow	-13,413	-17,946	4,067	31,817	5,432
Foreign Exchange Rate Adjustments	-1,358	-431.65	189.32	303.84	-48.46
Net Cash Flow	7,942	-4,472	-428.85	6,487	-9,229
Free Cash Flow	23,549	18,159	-4,606	-25,558	-14,718
Free Cash Flow Growth	29.68%	-	-	-	-
Free Cash Flow Margin	9.83%	7.00%	-2.58%	-29.01%	-14.84%
Free Cash Flow Per Share	4.50	3.47	-0.88	-4.88	-2.81
Cash Interest Paid	8,265	44,525	34,649	20,931	18,870
Cash Income Tax Paid	77.77	234.67	-157.37	129.9	88.58
Levered Free Cash Flow	44,554	54,326	22,006	-8,380	-2,301
Unlevered Free Cash Flow	81,983	110,938	54,134	8,605	16,446
Change in Working Capital	-7,380	51,845	34,302	3,781	1,706

Updated Dec 31, 2024. Source: S&P Global Market Intelligence. Standard template. Financial Sources.