BHG Retail REIT Cash Flow Statement

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

Millions SGD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 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	-2.57	-2.28	-3.79	6.1	7.51	-1.07
Depreciation & Amortization	0.13	0.09	0.08	0.1	0.11	0.11
Other Amortization	2.31	2.45	2.39	2.42	2.49	2.51
Gain (Loss) on Sale of Assets	0.04	0.04	0.04	0.06	0	0
Asset Writedown	4.8	4.8	5.5	-1.41	0.31	15.04
Stock-Based Compensation	-	-	-	-	0.82	1.24
Change in Accounts Receivable	-1.25	-7.23	4.06	-5.15	0.2	-2.3
Change in Accounts Payable	2.91	0.26	3.71	0.76	-3.96	-9.01
Change in Other Net Operating Assets	-2	0.97	-1.37	-3.72	2.16	1.73
Other Operating Activities	20.48	23.35	23.55	21.32	22.69	12.27
Operating Cash Flow	24.99	22.6	34.14	20.48	32.35	20.52
Operating Cash Flow Growth	-6.58%	-33.81%	66.67%	-36.68%	57.68%	-52.94%
Acquisition of Real Estate Assets	-1.55	-4.86	-9.96	-3.65	-2.74	-5.35
Net Sale / Acq. of Real Estate Assets	-1.55	-4.86	-9.96	-3.65	-2.74	-5.35
Other Investing Activities	0.06	0.09	0.12	0.25	0.13	0.16
Investing Cash Flow	-1.49	-4.76	-9.84	-3.41	-2.61	-5.19
Long-Term Debt Issued	-	4.68	13.91	16.88	7	12.46
Total Debt Issued	2.27	4.68	13.91	16.88	7	12.46
Long-Term Debt Repaid	-	-7.08	-6.88	-12.31	-8.25	-3.2
Total Debt Repaid	-4.63	-7.08	-6.88	-12.31	-8.25	-3.2
Net Debt Issued (Repaid)	-2.36	-2.4	7.03	4.57	-1.25	9.26
Common Dividends Paid	-2.6	-1.72	-2.94	-7.11	-10.9	-12.11
Other Financing Activities	-32.77	-28.46	-21.72	-24.79	-17.39	-14.45
Foreign Exchange Rate Adjustments	-1.06	-	-	-3.48	2.13	2.09
Net Cash Flow	-15.29	-14.75	6.67	-13.73	2.33	0.12
Cash Interest Paid	15.98	17.32	16.82	10.54	9.47	10.38
Cash Income Tax Paid	5.66	5.21	6.91	6.99	6.7	5.78
Levered Free Cash Flow	9.32	8.77	16.02	2.69	21.89	14.63
Unlevered Free Cash Flow	17.92	18.39	26.15	10.29	28.38	21.5
Change in Working Capital	-0.35	-6.01	6.4	-8.1	-1.6	-9.58

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