NCI Cash Flow Statement

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

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '23 Dec 31, 2023	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	4.41	4.41	12.4	5.45	-3.33
Depreciation & Amortization	3.29	3.29	0.01	0.14	0.18
Other Amortization	0.11	0.11	0.14	0.15	0.14
Provision & Write-off of Bad Debts	1.38	1.38	-	-	0.03
Other Operating Activities	0.07	0.07	-	-	0.33
Change in Accounts Receivable	-23.39	-23.39	19.37	-29.74	-42.56
Change in Inventory	-4.09	-4.09	-0.62	0.65	-0.85
Change in Accounts Payable	-10.43	-10.43	-74.18	32.55	52.06
Change in Income Taxes	-3.97	-3.97	3	1.74	0.14
Change in Other Net Operating Assets	-16.63	-16.63	-2.88	-0.67	0.15
Operating Cash Flow	-49.23	-49.23	-42.76	10.27	6.28
Operating Cash Flow Growth	-	-	-	63.44%	-
Capital Expenditures	-1.28	-1.28	-0.07	-0.08	-0.12
Investing Cash Flow	-1.28	-1.28	-0.07	-0.08	-0.12
Short-Term Debt Issued	84.86	84.86	-	-	-
Long-Term Debt Issued	115.02	115.02	508.72	243.09	188.4
Total Debt Issued	199.88	199.88	508.72	243.09	188.4
Long-Term Debt Repaid	-168.6	-168.6	-452.38	-220.37	-188.63
Net Debt Issued (Repaid)	31.27	31.27	56.34	22.72	-0.24
Common Dividends Paid	-	-	-	-0.27	-
Other Financing Activities	16.27	16.27	-6.34	-31.64	-6.24
Financing Cash Flow	47.55	47.55	50	-9.19	-6.48
Net Cash Flow	-2.95	-2.95	7.16	1.01	-0.31
Free Cash Flow	-50.5	-50.5	-42.83	10.19	6.17
Free Cash Flow Growth	-	-	-	65.24%	-
Free Cash Flow Margin	-28.99%	-28.99%	-12.33%	4.24%	3.38%
Free Cash Flow Per Share	-2.81	-2.81	-2.38	0.57	0.34
Cash Interest Paid	6.13	6.13	6.1	2.89	2.74
Cash Income Tax Paid	3.31	3.31	0.02	-	-
Levered Free Cash Flow	-0.61	-0.61	-56.16	28.2	-
Unlevered Free Cash Flow	2.99	2.99	-52.33	29.75	-
Change in Net Working Capital	4.79	4.79	64.24	-26.75	-

Source: S&P Capital IQ. Standard template. Financial Sources.