Alef Education Holding Cash Flow Statement

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

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	466.91	447.46	586.41	675.1	427.15
Depreciation & Amortization	29.66	27.6	31.3	36.04	34.4
Other Amortization	8.17	8.17	2.91	2.76	2.83
Loss (Gain) From Sale of Assets	-	-	-0.01	-	-
Asset Writedown & Restructuring Costs	4.5	-	-	0.02	0.74
Other Operating Activities	-10.11	34.76	-129.75	-232.92	-66.09
Change in Accounts Receivable	111.55	-178.38	-19.51	17.1	-144.92
Change in Accounts Payable	59.25	-5.2	6.44	-3.8	-1.83
Change in Other Net Operating Assets	-	0.35	-0.29	1.7	-1.49
Operating Cash Flow	670.28	334.77	477.51	496	250.8
Operating Cash Flow Growth	126.59%	-29.89%	-3.73%	97.77%	-
Capital Expenditures	-2.95	-2	-1.16	-2.71	-1.18
Sale of Property, Plant & Equipment	-	-	0.01	-	-
Sale (Purchase) of Intangibles	-68.77	-114.29	-31.74	-27.47	-16.85
Investment in Securities	120	-	356.81	-370.82	-204.84
Other Investing Activities	21.81	122.33	306.66	-129.32	-245.16
Investing Cash Flow	70.08	6.04	630.57	-530.32	-468.04
Long-Term Debt Repaid	-	-2.7	-0.26	-	-1.15
Net Debt Issued (Repaid)	-3.51	-2.7	-0.26	-	-1.15
Common Dividends Paid	-408.18	-203.59	-1,017	-	-
Other Financing Activities	-4.92	-	-	0.17	-
Financing Cash Flow	-416.62	-206.29	-1,018	0.17	-1.15
Net Cash Flow	323.74	134.53	90.34	-34.15	-218.39
Free Cash Flow	667.32	332.77	476.35	493.29	249.61
Free Cash Flow Growth	126.48%	-30.14%	-3.43%	97.62%	-
Free Cash Flow Margin	85.52%	43.84%	63.55%	63.84%	37.40%
Free Cash Flow Per Share	0.10	0.06	-	-	-
Levered Free Cash Flow	464.02	191.19	555.8	160.47	-
Unlevered Free Cash Flow	464.02	191.19	555.8	160.47	-
Change in Working Capital	170.8	-183.22	-13.35	15.01	-148.24

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.