SBS Transit 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	61.2	70.3	69.08	68.02	51.63
Depreciation & Amortization	82.51	87.16	92.62	93.99	105.34
Loss (Gain) From Sale of Assets	-0.03	0.19	0.09	-0.36	15.81
Stock-Based Compensation	1.46	1.29	0.98	0.32	-
Provision & Write-off of Bad Debts	0.04	0.11	0.01	0	-0.34
Other Operating Activities	1.06	-6.15	-13.24	9.13	-9.29
Change in Accounts Receivable	2.63	-46.16	-43.08	-7	37.66
Change in Inventory	1.08	-21.27	-25.59	-12.19	3.55
Change in Accounts Payable	-13.13	-35.91	0.26	34.65	48.41
Change in Unearned Revenue	-0.9	-0.34	-0.29	-0.42	-25.11
Change in Other Net Operating Assets	-7.33	-7.38	-5.97	-3.58	-3.32
Operating Cash Flow	128.58	41.85	74.87	182.57	224.34
Operating Cash Flow Growth	207.25%	-44.11%	-58.99%	-18.62%	48.36%
Capital Expenditures	-24.27	-20.35	-15.66	-10.68	-33.1
Sale of Property, Plant & Equipment	0.43	26.52	0.23	1.41	0.28
Other Investing Activities	6.7	11.92	12.66	3	0.28
Investing Cash Flow	-17.15	18.08	-2.78	-6.27	-32.54
Long-Term Debt Issued	-	-	-	-	4
Long-Term Debt Repaid	-12.8	-12.1	-11.05	-10.41	-39.7
Net Debt Issued (Repaid)	-12.8	-12.1	-11.05	-10.41	-35.7
Common Dividends Paid	-100.1	-34.83	-34.4	-24.64	-37.58
Other Financing Activities	0.79	0.03	0.02	0.02	-0.05
Financing Cash Flow	-112.1	-46.91	-45.44	-35.03	-73.33
Net Cash Flow	-0.67	13.03	26.66	141.27	118.47
Free Cash Flow	104.31	21.5	59.21	171.89	191.24
Free Cash Flow Growth	385.21%	-63.69%	-65.55%	-10.12%	43.90%
Free Cash Flow Margin	6.87%	1.38%	3.88%	11.34%	14.59%
Free Cash Flow Per Share	0.33	0.07	0.19	0.55	0.61
Cash Interest Paid	-	0.7	1.15	1.47	1.35
Cash Income Tax Paid	-	21.63	31.18	22.01	17.42
Levered Free Cash Flow	92.93	10.71	55.16	162.62	142.13
Unlevered Free Cash Flow	93.3	11.15	55.88	163.54	142.97
Change in Working Capital	-17.65	-111.05	-74.66	11.46	61.19

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