Al Dhafra Insurance Company P.S.C. (ADX:DHAFRA)

ADX:DHAFRA Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	41.53	38.38	41.3	22.96	38.64	54.8
Depreciation & Amortization	3.63	1.49	1.43	1.82	1.94	1.81
Other Amortization	-0.25	1.38	1.16	1	0.85	0.77
Gain (Loss) on Sale of Assets	-0.04	-0	-0	0.23	-0	-0.01
Gain (Loss) on Sale of Investments	-21.47	-15.41	-21.47	-0.16	-7.28	2.01
Change in Accounts Receivable	-26.36	39.18	10.75	15.56	5.84	9.95
Change in Unearned Revenue	-	-	-	-	0.02	-2.89
Change in Insurance Reserves / Liabilities	-	-	-	-	-12.39	-32.2
Change in Other Net Operating Assets	-14.99	7.43	-9.77	1.94	-	-
Other Operating Activities	-29.08	-24.13	-17.94	-16.59	-7.53	-23.82
Operating Cash Flow	-50.61	44.73	5.47	24.66	13.09	9.4
Operating Cash Flow Growth	-	718.38%	-77.83%	88.44%	39.14%	-63.15%
Capital Expenditures	-0.78	-0.86	-0.45	-0.38	-0.53	-0.33
Sale of Property, Plant & Equipment	0.04	0	0	-	0	0.01
Purchase / Sale of Intangible Assets	-2.24	-0.82	-1.28	-1.05	-0.32	-3.33
Investment in Securities	0.09	-4.27	11.09	-24.69	-38.05	-74.61
Other Investing Activities	32.02	26.51	16.85	15.15	17.02	15.85
Investing Cash Flow	29.13	20.56	26.21	-13.06	-21.87	-62.41
Total Debt Repaid	-1.44	-1.43	-0.99	-1.14	-1.01	-1.19
Net Debt Issued (Repaid)	-1.44	-1.43	-0.99	-1.14	-1.01	-1.19
Common Dividends Paid	-35	-35	-30	-35	-40	-40
Financing Cash Flow	-36.44	-36.43	-30.99	-36.14	-41.01	-41.19
Net Cash Flow	-57.92	28.87	0.68	-24.55	-49.79	-94.19
Free Cash Flow	-51.39	43.87	5.02	24.28	12.56	9.07
Free Cash Flow Growth	-	774.70%	-79.34%	93.36%	38.41%	-62.30%
Free Cash Flow Margin	-40.24%	38.93%	4.52%	24.96%	7.84%	5.85%
Free Cash Flow Per Share	-0.52	0.44	0.05	0.24	0.13	0.09
Levered Free Cash Flow	155.65	-57.73	-251.61	-503.9	-34.49	3.08
Unlevered Free Cash Flow	155.72	-57.46	-251.37	-503.81	-34.36	3.24
Change in Working Capital	-41.35	46.61	0.99	17.5	-13.32	-26.06

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