Gallant Venture Cash Flow Statement

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

Millions SGD. 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	10.01	-46.69	-14.83	-13.61	-55.58
Depreciation & Amortization	35.52	29.8	30.83	29.85	32.72
Other Amortization	0.21	0.08	0.08	0.07	2.83
Loss (Gain) on Sale of Assets	-0.39	-0.23	0.04	-0.01	-0.02
Loss (Gain) on Equity Investments	3.63	-0.84	-7.79	-19.08	16.75
Asset Writedown	4	-	-	-	1.81
Change in Accounts Receivable	3.77	-20.39	-3.57	-4.48	30.1
Change in Inventory	-10.68	-1.15	-2.97	-1.55	-1.21
Change in Accounts Payable	124.2	-15.5	19.11	30.96	-19.08
Other Operating Activities	1.38	16.35	1.27	-0.34	-3.06
Operating Cash Flow	169.07	-39.4	22.22	21.95	5.01
Operating Cash Flow Growth	-	-	1.21%	338.25%	-86.93%
Capital Expenditures	-173.58	-38.09	-47.98	-12.14	-15.47
Sale of Property, Plant & Equipment	0.47	0.38	0.07	0.07	0.05
Cash Acquisitions	1.09	0.15	-	-	0
Divestitures	-	-	-0	-	-
Sale (Purchase) of Intangibles	-0.39	-2.95	-0.03	-0	-0.06
Investment in Securities	-0.39	-16	-	-0.03	-
Other Investing Activities	0.62	1.64	1.86	1.01	1.01
Investing Cash Flow	-177.85	-81.7	-50.94	-14.51	-18.43
Long-Term Debt Issued	81.6	585.02	48.75	14.8	396.1
Long-Term Debt Repaid	-70.59	-456.18	-38.63	-28.22	-355.44
Net Debt Issued (Repaid)	11.01	128.84	10.13	-13.42	40.66
Other Financing Activities	0.29	-0.59	-2.88	-3.82	-
Financing Cash Flow	11.3	128.25	7.25	-17.24	40.66
Foreign Exchange Rate Adjustments	-0.18	-0.05	-0	-0.31	0.03
Net Cash Flow	2.35	7.11	-21.47	-10.11	27.27
Free Cash Flow	-4.51	-77.49	-25.76	9.81	-10.46
Free Cash Flow Margin	-2.10%	-40.59%	-14.10%	5.88%	-7.21%
Free Cash Flow Per Share	-0.00	-0.01	-0.01	0.00	-0.00
Cash Interest Paid	39.12	31.65	35.95	24.5	17.57
Cash Income Tax Paid	13.82	17.41	16.78	16.68	16.5
Levered Free Cash Flow	-88.77	-25.93	-22.5	3.26	5.86
Unlevered Free Cash Flow	-62.75	-1.14	0.29	20.33	15.46
Change in Working Capital	117.29	-37.03	12.57	24.93	9.81

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