SGX:SHE Cash Flow Statement

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

Millions SGD. 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	37.91	3.26	29.38	2.64
Depreciation & Amortization	1.98	0.96	0.96	0.89
Gain (Loss) on Sale of Assets	-2.08	-0.75	-	-
Asset Writedown	0.01	-	-	-
Change in Accounts Receivable	-138.92	41.25	-33.81	-3.25
Change in Accounts Payable	170.04	-5.2	4.35	4.92
Change in Other Net Operating Assets	-5.36	-	4.17	-4.17
Other Operating Activities	7.62	-2.39	6.04	-2.93
Operating Cash Flow	106.09	-83.89	-53.26	13.82
Acquisition of Real Estate Assets	-2.08	-8.08	-13.07	-2.26
Sale of Real Estate Assets	9.76	3	-	-
Net Sale / Acq. of Real Estate Assets	7.68	-5.08	-13.07	-2.26
Investment in Marketable & Equity Securities	-3.52	-	-	-
Other Investing Activities	15.4	7.75	-13.16	-1.35
Investing Cash Flow	19.56	2.67	-26.23	-3.61
Short-Term Debt Issued	1.13	42.92	105.75	2.96
Long-Term Debt Issued	149.42	97.46	168.4	33.88
Total Debt Issued	150.55	140.39	274.15	36.84
Short-Term Debt Repaid	-14.25	-36.72	-72.18	-14.02
Long-Term Debt Repaid	-148.1	-11.59	-112.4	-24.59
Total Debt Repaid	-162.35	-48.31	-184.58	-38.62
Net Debt Issued (Repaid)	-11.8	92.07	89.57	-1.78
Issuance of Common Stock	38.51	0	0	-
Other Financing Activities	-10.93	-8.62	-3.84	-2.17
Net Cash Flow	141.43	2.23	6.25	6.27
Cash Interest Paid	7.32	8.55	3.84	2.17
Cash Income Tax Paid	0.55	2.74	-	-0.02
Levered Free Cash Flow	128.26	-70.59	-97.7	-
Unlevered Free Cash Flow	128.66	-70.4	-97.67	-
Change in Working Capital	60.65	-84.96	-89.64	13.23

Source: S&P Capital IQ. Real Estate template. Financial Sources.