To The Moon

🟩 In this insightful video, we'll dive deep into the financial performance of Delfi Limited, a leading chocolate confectionery company in Southeast Asia. Brace yourselves as we decode their latest consolidated statement of cash flows, uncovering the secrets behind their operating, investing, and financing activities. $Delfi(P34.SI)$

We'll start by dissecting Delfi's robust operating cash flow of $74.5 million before changes in working capital. This impressive figure showcases the company's ability to generate solid cash profits from its core business operations. However, we'll also scrutinize the $16.6 million negative impact from changes in working capital, exploring potential operational hiccups in managing assets and liabilities efficiently.

Next, we'll turn our attention to Delfi's investing activities, where they've invested a substantial $24 million in purchasing fixed assets and intangibles. This move signals their commitment to long-term growth prospects, and we'll analyze whether these investments are poised to bear fruit in the form of higher future cash flows.

On the financing front, Delfi has demonstrated prudence by allocating $29 million towards dividends, loan repayments, and lease liabilities. We'll assess the implications of this cash outflow and whether it strikes the right balance between rewarding shareholders and maintaining a disciplined capital structure.

Despite a net decrease of $21.4 million in its cash position for 2023, Delfi's solid opening cash balance of $76 million suggests a comfortable liquidity position to fund its operations and investments. However, we'll keep a watchful eye on their working capital efficiency and ensure their growth investments translate into sustainable shareholder value creation.

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