Powell Max Cash Flow Statement

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

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-23.5	-18.07	7.08	-0.1
Depreciation & Amortization	3.58	4.44	5.02	5.05
Other Adjustments	10.91	2.22	1.49	0.96
Change in Receivables	2.4	-4.08	-5.65	-0.48
Changes in Accounts Payable	-2.65	4.29	0.96	0.27
Changes in Unearned Revenue	0.5	-0.21	-1.78	-0.22
Operating Cash Flow	-8.75	-11.41	7.11	5.47
Operating Cash Flow Growth	-	-	29.95%	-
Capital Expenditures	-0.02	-1.49	-0.29	-0.47
Payments for Business Acquisitions	-28.08	-	-	-
Other Investing Activities	0.1	0.29	0.05	0
Investing Cash Flow	-28	-1.2	-0.24	-0.47
Long-Term Debt Issued	-	20.59	-	-
Long-Term Debt Repaid	-3.85	-0.92	-0.71	-0.05
Net Long-Term Debt Issued (Repaid)	-3.85	19.67	-0.71	-0.05
Issuance of Common Stock	8.57	35.36	-	-
Net Common Stock Issued (Repurchased)	8.57	35.36	-	-
Other Financing Activities	-3.33	-3.85	-3.9	-4.16
Financing Cash Flow	1.39	51.18	-4.61	-4.21
Net Cash Flow	-35.36	38.56	2.26	0.79
Free Cash Flow	-8.77	-12.9	6.83	5.01
Free Cash Flow Growth	-	-	36.33%	-
FCF Margin	-18.41%	-35.38%	13.89%	13.25%
Free Cash Flow Per Share	-32.24	-78.32	43.68	32.04
Levered Free Cash Flow	-25.93	8.63	10.28	4.48
Unlevered Free Cash Flow	-21.39	-9.03	11.53	5.22

Updated Apr 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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