Powell Max Limited (PMAX)

Powell Max Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Net Income	-39.22	-18.07	7.08	-0.1
Depreciation & Amortization	3.74	4.44	5.02	5.05
Provision & Write-off of Bad Debts	0.99	0.53	0.99	1.19
Other Operating Activities	-0.59	1.69	0.5	-0.23
Change in Accounts Receivable	0.31	-4.08	-5.65	-0.48
Change in Accounts Payable	-0.93	4.29	0.96	0.27
Change in Unearned Revenue	-0.09	-0.21	-1.78	-0.22
Operating Cash Flow	-35.79	-11.41	7.11	5.47
Operating Cash Flow Growth	-	-	29.95%	-
Capital Expenditures	-1.03	-1.49	-0.29	-0.47
Other Investing Activities	0.37	0.29	0.05	0
Investing Cash Flow	-27.74	-1.2	-0.24	-0.47
Short-Term Debt Issued	-	20.59	-	-
Total Debt Issued	15.59	20.59	-	-
Short-Term Debt Repaid	-	-0.92	-0.72	-0.05
Long-Term Debt Repaid	-	-3.69	-3.71	-4.01
Total Debt Repaid	-4.44	-4.62	-4.43	-4.06
Net Debt Issued (Repaid)	11.15	15.98	-4.43	-4.06
Issuance of Common Stock	53.55	35.36	-	-
Other Financing Activities	5.64	-0.15	-0.18	-0.15
Financing Cash Flow	70.35	51.18	-4.61	-4.21
Net Cash Flow	6.82	38.56	2.26	0.79
Free Cash Flow	-36.82	-12.9	6.83	5.01
Free Cash Flow Growth	-	-	36.33%	-
Free Cash Flow Margin	-97.73%	-35.38%	13.89%	13.25%
Free Cash Flow Per Share	-17.89	-7.83	4.37	3.20
Cash Interest Paid	0.13	0.15	0.18	0.15
Levered Free Cash Flow	-37.81	-19	3.69	-
Unlevered Free Cash Flow	-36.37	-17.74	4.04	-
Change in Working Capital	-0.71	0	-6.48	-0.43

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q