ALFORMER Industrial 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	-19.29	24.25	0.25	60.8	200.77
Depreciation & Amortization	72.01	63.14	58.39	43.41	39.74
Other Amortization	-	-	-	7.46	6.01
Loss (Gain) From Sale of Assets	1.77	-	-	-	-
Stock-Based Compensation	-	-	-	0.07	-
Provision & Write-off of Bad Debts	0.04	-4.9	3.77	2.21	-3.88
Other Operating Activities	2.61	-22.43	-40.34	-4.95	35.19
Change in Accounts Receivable	-6	-34.11	42.4	253.67	-132.83
Change in Inventory	-15.67	-98.95	248.18	-215.16	-441.01
Change in Accounts Payable	-4.16	15.57	-4.94	5.19	-25.49
Change in Unearned Revenue	21.09	-12.04	70.67	-9.26	24.64
Change in Other Net Operating Assets	-54.78	95.91	-132.82	-33.29	-9.07
Operating Cash Flow	-2.38	26.45	245.56	110.16	-305.93
Operating Cash Flow Growth	-	-89.23%	122.91%	-	-
Capital Expenditures	-207.66	-268.9	-70.1	-125.53	-86.61
Sale of Property, Plant & Equipment	0.88	-	-	-	-
Other Investing Activities	-37.38	-20.71	-14.02	-11.3	-6.7
Investing Cash Flow	-244.16	-289.61	-84.12	-136.84	-93.31
Short-Term Debt Issued	964.92	1,126	938.66	1,294	1,428
Long-Term Debt Issued	353.52	200	-	100	18.73
Total Debt Issued	1,318	1,326	938.66	1,394	1,447
Short-Term Debt Repaid	-853.57	-1,031	-924.05	-1,490	-945.25
Long-Term Debt Repaid	-35.96	-37.21	-34.45	-26.23	-43.58
Total Debt Repaid	-889.53	-1,068	-958.5	-1,516	-988.83
Net Debt Issued (Repaid)	428.91	258.15	-19.84	-121.61	457.82
Issuance of Common Stock	-	-	-	264.67	-
Common Dividends Paid	-25	-	-50	-150	-44.1
Other Financing Activities	-4.99	-	-0	0	-
Financing Cash Flow	398.91	258.15	-69.84	-6.94	413.72
Net Cash Flow	152.37	-5.02	91.6	-33.61	14.48
Free Cash Flow	-210.04	-242.45	175.46	-15.37	-392.54
Free Cash Flow Margin	-13.67%	-16.69%	11.06%	-0.78%	-18.47%
Free Cash Flow Per Share	-4.20	-4.85	3.51	-0.31	-8.88
Cash Interest Paid	27.94	22.02	20.82	17.51	10.29
Cash Income Tax Paid	0.23	0.03	0.09	64.96	29.08
Levered Free Cash Flow	-133.49	-256.89	162.12	-9.65	-437.46
Unlevered Free Cash Flow	-114.72	-243.25	175.21	1.47	-430.96
Change in Working Capital	-59.52	-33.62	223.48	1.16	-583.76

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