CDL Hospitality Trusts 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	-28.82	14.37	123.21	215.28	67.93
Depreciation & Amortization	25.3	22.58	21.93	20.98	21.45
Other Amortization	2	2.31	2.17	2.24	1.71
Gain (Loss) on Sale of Assets	-	-	-0.01	0.02	-
Asset Writedown	36.61	2.92	-107.51	-143.45	-43.85
Stock-Based Compensation	11.64	11.26	11.06	10.17	8.25
Change in Accounts Receivable	3.38	-6.48	-4.52	-3.03	-6.95
Change in Accounts Payable	-3.66	9.9	5.77	7.36	-0.47
Other Operating Activities	66.31	63.76	71.49	6.75	13.48
Operating Cash Flow	114.3	120.71	123.77	116.41	62.53
Operating Cash Flow Growth	-5.30%	-2.47%	6.32%	86.17%	25.73%
Acquisition of Real Estate Assets	-42.57	-168.44	-88.81	-85.25	-39.07
Sale of Real Estate Assets	-	-	0.01	0.07	-
Net Sale / Acq. of Real Estate Assets	-42.57	-168.44	-88.8	-85.19	-39.07
Cash Acquisition	-	-	-	-	-5.6
Other Investing Activities	0.52	0.6	0.93	-13.43	0.15
Investing Cash Flow	-41.14	-167.04	-87.3	-98.22	-43.87
Short-Term Debt Issued	27.28	-	-	-	-
Long-Term Debt Issued	420.13	736.31	417.64	464.81	310.88
Total Debt Issued	447.41	736.31	417.64	464.81	310.88
Short-Term Debt Repaid	-27.28	-	-	-	-
Long-Term Debt Repaid	-519.15	-551.54	-353.2	-422.95	-239.18
Total Debt Repaid	-546.43	-551.54	-353.2	-422.95	-239.18
Net Debt Issued (Repaid)	-99.02	184.76	64.44	41.87	71.7
Issuance of Common Stock	150	-	-	-	-
Common Dividends Paid	-60.49	-71.29	-75.69	-62.89	-57.11
Other Financing Activities	-56.59	-59.28	-50.27	-30.91	-21.75
Foreign Exchange Rate Adjustments	1.55	-1.6	-0.27	-6.08	-2.97
Net Cash Flow	8.6	6.25	-25.32	-39.83	8.54
Cash Interest Paid	51.59	56.82	47.92	30.09	20.39
Cash Income Tax Paid	6.36	5.89	7.35	3.34	10.28
Levered Free Cash Flow	56.22	54.23	73.17	74.56	42.5
Unlevered Free Cash Flow	87.59	87.24	101.98	93.09	56.49
Change in Working Capital	0.37	3.49	1.17	4.28	-7.77

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