Test Rite Retail Cash Flow Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	195.84	157.09	289	225.66
Depreciation & Amortization	1,072	1,108	1,100	1,166
Other Amortization	43.68	46.06	55.76	57.24
Loss (Gain) From Sale of Assets	1.64	1.56	4.51	3.4
Loss (Gain) From Sale of Investments	-0.59	-0.56	-0.45	-0.17
Provision & Write-off of Bad Debts	-	-	-0.01	0.01
Other Operating Activities	38.6	-10.24	0.75	-51.18
Change in Accounts Receivable	86.21	9.41	-28.07	12.31
Change in Inventory	-78.36	-23.53	333.13	-126.73
Change in Accounts Payable	-63.17	101.53	-264.55	-89.71
Change in Unearned Revenue	-50.97	-0.51	-170.82	-58.3
Change in Other Net Operating Assets	452.14	-41.53	-292.81	-34.85
Operating Cash Flow	1,699	1,347	1,027	1,104
Operating Cash Flow Growth	53.91%	31.23%	-7.00%	-
Capital Expenditures	-48.26	-74.29	-88.29	-201.19
Sale of Property, Plant & Equipment	7.66	7.88	0.04	0.04
Divestitures	88.23	578.98	-	-
Sale (Purchase) of Intangibles	-52.47	-5.98	-5.75	-16.09
Investment in Securities	3.38	3.38	-	-
Other Investing Activities	725.7	1,002	-518.92	-643.43
Investing Cash Flow	748.48	1,512	-612.92	-860.68
Short-Term Debt Issued	-	-	-	61.5
Long-Term Debt Issued	-	3,550	5,850	3,790
Total Debt Issued	1,420	3,550	5,850	3,852
Short-Term Debt Repaid	-	-	-61.5	-
Long-Term Debt Repaid	-	-5,499	-6,775	-3,952
Total Debt Repaid	-3,571	-5,499	-6,836	-3,952
Net Debt Issued (Repaid)	-2,151	-1,949	-986.01	-100.98
Repurchase of Common Stock	-300	-300	-	-
Common Dividends Paid	-96	-	-	-82.84
Other Financing Activities	-180.93	-536.21	601.5	3.43
Financing Cash Flow	-1,740	-2,785	-384.51	-180.39
Net Cash Flow	708.03	74.29	29.2	62.88
Free Cash Flow	1,651	1,273	938.34	902.75
Free Cash Flow Growth	82.86%	35.66%	3.94%	-
Free Cash Flow Margin	17.93%	13.38%	9.77%	8.52%
Free Cash Flow Per Share	19.87	13.75	9.38	9.02
Cash Interest Paid	98.24	113.87	135.07	91.35
Cash Income Tax Paid	10.68	11.89	10.55	5.02
Levered Free Cash Flow	-	1,614	922.43	-
Unlevered Free Cash Flow	-	1,682	1,005	-
Change in Working Capital	345.84	45.36	-423.11	-297.28

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