Accelerate Property Fund Cash Flow Statement

Financials in millions ZAR. Fiscal year is April - March.

Millions ZAR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021	2016 - 2020
Net Income	-965	-1,270	-624.74	-601.34	61.98	-705.7	Upgrade
Depreciation & Amortization	14.25	16.34	11.46	8.47	8.6	8.13	Upgrade
Other Amortization	42.47	42.47	9.16	-	-	-	Upgrade
Gain (Loss) on Sale of Assets	-	-	6.39	-	-	-	Upgrade
Gain (Loss) on Sale of Investments	44.69	44.69	41.53	-64.6	-137.42	-63.63	Upgrade
Asset Writedown	145.43	274.26	354.81	809.18	363.84	588.1	Upgrade
Stock-Based Compensation	-	-	-	-	0.5	1.42	Upgrade
Change in Accounts Receivable	8.73	-39.02	-85.71	-84.43	-249.54	-33.44	Upgrade
Change in Accounts Payable	-32.74	-6.4	-19.94	-20.46	27.03	-37.18	Upgrade
Other Operating Activities	357.86	341.52	533.29	367.81	374.82	513.4	Upgrade
Net Cash from Discontinued Operations	-	-	-	-7.08	62.23	83.29	Upgrade
Operating Cash Flow	550.38	450.7	384.35	422.34	512.04	354.38	Upgrade
Operating Cash Flow Growth	58.29%	17.26%	-9.00%	-17.52%	44.49%	-51.60%	Upgrade
Acquisition of Real Estate Assets	-132.44	-110.43	-38.43	-34.41	-43.48	-36.8	Upgrade
Sale of Real Estate Assets	66.83	66.98	97.75	146.7	108.5	188	Upgrade
Net Sale / Acq. of Real Estate Assets	-65.61	-43.45	59.33	112.29	65.02	151.2	Upgrade
Other Investing Activities	-0	-	-	-	599.61	-	Upgrade
Investing Cash Flow	-65.62	-43.45	59.33	112.29	664.62	151.2	Upgrade
Long-Term Debt Issued	-	1,198	1,443	810	1,629	1,326	Upgrade
Long-Term Debt Repaid	-	-1,373	-1,467	-918	-2,355	-1,436	Upgrade
Net Debt Issued (Repaid)	-19.55	-174.76	-24.35	-108	-725.81	-110.15	Upgrade
Issuance of Common Stock	106.51	200	-	44.75	-	-	Upgrade
Common Dividends Paid	-	-	-	-38.16	-	-	Upgrade
Other Financing Activities	-488.77	-446.53	-436.29	-442.72	-423.46	-402.36	Upgrade
Foreign Exchange Rate Adjustments	-	-	-	0.55	-4.99	-1.13	Upgrade
Net Cash Flow	82.96	-14.04	-16.97	-8.95	22.41	-8.08	Upgrade
Cash Interest Paid	446.53	446.53	436.29	442.72	396.65	402.36	Upgrade
Cash Income Tax Paid	-	-	-	-	0.1	-	Upgrade
Levered Free Cash Flow	772.56	188.3	-710.01	-271.1	233.06	490.98	Upgrade
Unlevered Free Cash Flow	972.12	380.49	-363.29	-20.85	439.77	683.48	Upgrade
Change in Working Capital	-24	-45.41	-105.65	-104.89	-222.51	-70.63	Upgrade

Updated Mar 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.