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	-	-18.07	7.08	-0.1
Depreciation & Amortization	3.74	4.44	5.02	5.05
Other Adjustments	-1.47	2.22	1.49	0.96
Change in Receivables	0.31	-4.08	-5.65	-0.48
Changes in Accounts Payable	-0.93	4.29	0.96	0.27
Changes 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
Payments for Business Acquisitions	-27.08	-	-	-
Other Investing Activities	0.37	0.29	0.05	0
Investing Cash Flow	-27.74	-1.2	-0.24	-0.47
Long-Term Debt Issued	-	20.59	-	-
Long-Term Debt Repaid	-0.94	-0.92	-0.71	-0.05
Net Long-Term Debt Issued (Repaid)	-0.94	19.67	-0.71	-0.05
Issuance of Common Stock	18.2	35.36	-	-
Net Common Stock Issued (Repurchased)	18.2	35.36	-	-
Other Financing Activities	-8.62	-3.85	-3.9	-4.16
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%	-
FCF Margin	-97.73%	-35.38%	13.89%	13.25%
Free Cash Flow Per Share	-	-7.83	4.37	3.20
Levered Free Cash Flow	-19.62	8.63	10.28	4.48
Unlevered Free Cash Flow	-34.74	-9.03	11.53	5.22

Updated Jun 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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