Fraser and Neave Cash Flow Statement

Financials in millions SGD. Fiscal year is October - September.

Millions SGD. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	141.28	150.91	133.22	124.87	140.44
Depreciation & Amortization	83.18	79.05	79.08	75.15	80.24
Other Amortization	5.01	7.7	9.14	10.02	9.57
Loss (Gain) From Sale of Assets	-0.59	-1.1	0	-0.25	-0.03
Asset Writedown & Restructuring Costs	3.58	0.64	0.18	0.64	1.04
Loss (Gain) on Equity Investments	-90.6	-100.83	-96.37	-104.34	-110.3
Stock-Based Compensation	5.15	5.83	4.95	4.62	3.44
Other Operating Activities	70.05	67.03	52.28	60.64	64.5
Change in Accounts Receivable	43.7	-62.76	22.03	-91.47	72.26
Change in Inventory	16.71	-8.41	72.51	-95.97	1.79
Change in Accounts Payable	-42.36	51.77	1.08	49.44	-12.96
Change in Other Net Operating Assets	-3.88	26.58	-16.37	-14.2	-2.59
Operating Cash Flow	231.23	216.4	261.74	19.15	247.4
Operating Cash Flow Growth	6.85%	-17.32%	1266.65%	-92.26%	479.53%
Capital Expenditures	-239.83	-106.2	-129.9	-138.52	-90.28
Sale of Property, Plant & Equipment	1.29	5.66	1.19	0.88	0.62
Cash Acquisitions	-	-	-173.68	-2.48	-16.21
Sale (Purchase) of Intangibles	-6.63	-7.76	-18.04	-8.35	-9.19
Investment in Securities	-0.4	-	0.2	-3.44	-
Other Investing Activities	54.47	88.27	93.01	98.53	93.23
Investing Cash Flow	-191.11	-20.03	-227.22	-53.37	-21.83
Long-Term Debt Issued	164.65	344.55	357.07	442.25	142.4
Long-Term Debt Repaid	-248.17	-336.64	-119.65	-491.89	-69.57
Net Debt Issued (Repaid)	-83.52	7.91	237.42	-49.64	72.83
Repurchase of Common Stock	-2.45	-0.94	-	-	-
Common Dividends Paid	-80.12	-80.13	-72.76	-72.68	-72.59
Other Financing Activities	-35.37	-45.97	-32.24	-31.4	-34.06
Financing Cash Flow	-201.46	-119.12	132.42	-153.72	-33.82
Foreign Exchange Rate Adjustments	-4.8	20.56	-9.69	-9.28	-5.44
Net Cash Flow	-166.14	97.81	157.24	-197.21	186.32
Free Cash Flow	-8.6	110.2	131.85	-119.36	157.12
Free Cash Flow Growth	-	-16.42%	-	-	-
Free Cash Flow Margin	-0.37%	5.10%	6.28%	-5.96%	8.36%
Free Cash Flow Per Share	-0.01	0.07	0.09	-0.08	0.11
Cash Interest Paid	44.06	41.75	31.69	24.66	24.78
Cash Income Tax Paid	61.33	47.69	35.3	25.07	32.88
Levered Free Cash Flow	-71.32	75.53	87.4	-123.39	142.32
Unlevered Free Cash Flow	-44.81	101.63	110.7	-107.08	158.01
Change in Working Capital	14.17	7.17	79.25	-152.19	58.5

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.