SGX:N0Z Cash Flow Statement

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

Millions HKD. 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	37.15	45.73	42.53	42.76	40.82
Depreciation & Amortization	113.3	106.6	99.95	94.2	88.56
Loss (Gain) From Sale of Assets	0.23	-23.5	0.29	-1.19	0.4
Loss (Gain) From Sale of Investments	-2.14	-0.85	-1.13	11.79	3.96
Provision & Write-off of Bad Debts	0.31	-0.2	-0.63	-1.41	0.74
Other Operating Activities	-2.31	-4.8	-10.8	8.98	-10.19
Change in Accounts Receivable	-262.35	-106.27	61.97	44.08	117.17
Change in Inventory	-10.44	-49.73	8.26	85.37	-36.68
Change in Accounts Payable	54.02	47.28	-54.36	-2.6	61.79
Change in Other Net Operating Assets	-7.68	6.32	-9.89	-0.82	-48.81
Operating Cash Flow	-32.37	43.56	135.92	240.54	242.64
Operating Cash Flow Growth	-	-67.95%	-43.50%	-0.86%	59.17%
Capital Expenditures	-106.93	-110.46	-57.74	-97.13	-146.9
Sale of Property, Plant & Equipment	4.78	32.12	0.06	1.89	1.2
Other Investing Activities	-27.95	-75.29	-30.79	3.78	2.88
Investing Cash Flow	-130.1	-153.63	-88.47	-91.45	-142.82
Long-Term Debt Issued	368.4	346.67	125	110	-
Total Debt Issued	368.4	346.67	125	110	-
Long-Term Debt Repaid	-222.79	-263.94	-177.45	-173.49	-61.14
Total Debt Repaid	-222.79	-263.94	-177.45	-173.49	-61.14
Net Debt Issued (Repaid)	145.61	82.73	-52.45	-63.49	-61.14
Common Dividends Paid	-2.5	-9.41	-9.49	-23.62	-2.36
Other Financing Activities	17.22	14.9	9.9	-	-
Financing Cash Flow	160.33	88.22	-52.04	-87.11	-63.5
Foreign Exchange Rate Adjustments	-3.56	-1.94	-1.07	-33.41	10.01
Net Cash Flow	-5.7	-23.79	-5.66	28.57	46.33
Free Cash Flow	-139.3	-66.9	78.18	143.42	95.74
Free Cash Flow Growth	-	-	-45.49%	49.80%	-
Free Cash Flow Margin	-7.69%	-4.55%	7.02%	10.69%	8.39%
Free Cash Flow Per Share	-4.31	-2.07	2.42	4.44	2.96
Cash Interest Paid	27.68	30.09	28.59	22.72	18.44
Cash Income Tax Paid	8.04	13.56	7.22	3.07	4.84
Levered Free Cash Flow	-183.59	-86.31	67.93	159.25	62.89
Unlevered Free Cash Flow	-165.5	-66.81	86.26	173.45	74.42
Change in Working Capital	-178.9	-79.42	5.71	85.42	118.36

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