Vetnostrum Animal Health 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	128.85	136.62	91.6	106.52
Depreciation & Amortization	73.49	75.94	76.74	78.22
Other Amortization	0.2	0.21	-	-
Loss (Gain) From Sale of Assets	0.15	1.89	-0.04	0.05
Loss (Gain) From Sale of Investments	3.66	-	-	-
Stock-Based Compensation	8.3	-	-	5.3
Provision & Write-off of Bad Debts	-	-	-0.1	0.01
Other Operating Activities	-8.42	12.78	-4.18	-1.12
Change in Accounts Receivable	-1.75	-28.05	10.74	10.41
Change in Inventory	72.83	-56.19	13.72	-34.12
Change in Accounts Payable	10.98	12.6	24.44	-26.28
Change in Unearned Revenue	-	-	-	-4.36
Change in Other Net Operating Assets	0.65	24.59	22.57	-7.06
Operating Cash Flow	288.93	180.39	235.49	127.56
Operating Cash Flow Growth	60.17%	-23.40%	84.61%	-
Capital Expenditures	-25.65	-30.2	-15.49	-22.05
Sale of Property, Plant & Equipment	-	-	0.04	0.36
Investment in Securities	-311.86	-10	-	-
Other Investing Activities	0.74	-0.44	-0.33	3.87
Investing Cash Flow	-336.77	-40.64	-15.78	-17.83
Short-Term Debt Issued	60	350	580	970
Total Debt Issued	60	350	580	970
Short-Term Debt Repaid	-60	-420	-700	-890
Long-Term Debt Repaid	-11.43	-9.09	-8.56	-148.42
Total Debt Repaid	-71.43	-429.09	-708.56	-1,038
Net Debt Issued (Repaid)	-11.43	-79.09	-128.56	-68.42
Issuance of Common Stock	207.46	0.83	1.27	53
Common Dividends Paid	-122.73	-68.94	-80.12	-82.5
Financing Cash Flow	73.31	-147.2	-207.4	-97.92
Net Cash Flow	25.47	-7.46	12.31	11.81
Free Cash Flow	263.28	150.19	220	105.51
Free Cash Flow Growth	75.30%	-31.74%	108.51%	-
Free Cash Flow Margin	18.59%	11.61%	18.22%	8.90%
Free Cash Flow Per Share	3.71	2.26	3.31	1.66
Cash Interest Paid	0.56	1.15	2.17	2.94
Cash Income Tax Paid	38.66	18.96	25.15	26.43
Levered Free Cash Flow	231.7	118.21	204.08	-
Unlevered Free Cash Flow	232.05	118.9	205.32	-
Change in Working Capital	82.71	-47.05	71.47	-61.4

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