Taiwan Pelican Express Cash Flow Statement

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

Millions TWD. 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	-99.48	-9.31	94.5	176.44	240.5
Depreciation & Amortization	382.68	326.73	304.37	311.59	259.74
Other Amortization	6.46	6.01	5.28	1.19	3.09
Loss (Gain) From Sale of Assets	-0.01	-0.33	1.67	0.72	-0.11
Loss (Gain) From Sale of Investments	-	-	-0.2	-	-0.27
Provision & Write-off of Bad Debts	1.58	1.61	-0.05	-0.33	-1.13
Other Operating Activities	-12.2	9.66	11.54	-2.08	13.23
Change in Accounts Receivable	75	57.32	-54.23	-8.43	-131.69
Change in Inventory	2.44	-1.7	3.03	-2.1	-3.58
Change in Accounts Payable	-43.83	-24.9	4.88	57.28	72.25
Change in Other Net Operating Assets	-22.2	-126.31	-75.38	49.09	11.89
Operating Cash Flow	290.44	238.78	295.42	583.37	463.92
Operating Cash Flow Growth	21.64%	-19.17%	-49.36%	25.75%	-2.47%
Capital Expenditures	-60	-131.96	-58.64	-168.24	-112.72
Sale of Property, Plant & Equipment	0.59	0.89	0.66	0.61	0.75
Sale (Purchase) of Intangibles	-1.21	-5.14	-8.33	-6.14	-2.39
Investment in Securities	81.26	-0.61	-	-	0.27
Other Investing Activities	-2.36	-16.35	1.65	-2.17	-6.46
Investing Cash Flow	18.28	-153.18	-64.66	-175.94	-120.55
Long-Term Debt Repaid	-282.11	-218.19	-210.31	-210.61	-165.88
Net Debt Issued (Repaid)	-282.11	-218.19	-210.31	-210.61	-165.88
Common Dividends Paid	-47.73	-76.37	-143.2	-200.48	-171.84
Other Financing Activities	-	-	-0.05	-0.5	-
Financing Cash Flow	-329.85	-294.57	-353.56	-411.59	-337.72
Foreign Exchange Rate Adjustments	-0.54	0.11	-0.22	0.87	0.39
Net Cash Flow	-21.67	-208.86	-123.03	-3.3	6.04
Free Cash Flow	230.44	106.81	236.78	415.13	351.2
Free Cash Flow Growth	115.74%	-54.89%	-42.96%	18.20%	18.97%
Free Cash Flow Margin	6.05%	2.64%	5.65%	9.21%	7.86%
Free Cash Flow Per Share	2.41	1.12	2.48	4.35	3.68
Cash Interest Paid	0.08	0.08	0.08	0.04	0.04
Cash Income Tax Paid	0.94	2.61	32.21	60.51	58.79
Levered Free Cash Flow	214.38	82.17	148.56	459.23	283.47
Unlevered Free Cash Flow	227.24	94.37	160.59	471.09	293.51
Change in Working Capital	11.41	-95.59	-121.7	95.84	-51.14

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