MAIR Group - P.J.S.C. 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	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	122.05	171.15	25.86	211.3	112.27
Depreciation & Amortization	124.9	128.32	76.21	87.4	100.58
Other Amortization	3.29	3.29	0.5	-	-
Loss (Gain) From Sale of Assets	-0.11	-94.73	5.8	-	-0.17
Asset Writedown & Restructuring Costs	13.95	14.3	4.66	-115.64	-12
Loss (Gain) From Sale of Investments	2.1	2.1	-2.66	-13.43	-11.2
Loss (Gain) on Equity Investments	-11.58	-9.55	0.47	1.07	0.64
Provision & Write-off of Bad Debts	21.95	22.24	25.63	13.83	-
Other Operating Activities	43.69	51.14	56.68	12.7	20.82
Change in Accounts Receivable	-10.73	-68.9	75.72	28.19	-32.94
Change in Inventory	-7.6	39.88	28.04	-6.75	2.09
Change in Accounts Payable	-15.16	-3.85	-46.87	-53.75	20.27
Change in Other Net Operating Assets	-	-	-	0.29	-
Operating Cash Flow	286.76	237.54	250.04	165.21	200.35
Operating Cash Flow Growth	14.69%	-5.00%	51.35%	-17.54%	-
Capital Expenditures	-153.01	-138.63	-120.94	-164.83	-28.32
Sale of Property, Plant & Equipment	34.49	152.49	0.5	-	0.3
Cash Acquisitions	-	-	575.18	-	-
Sale (Purchase) of Intangibles	-1.7	-0.28	-1.31	-	-
Sale (Purchase) of Real Estate	69.63	78.75	-16	-969.13	-
Investment in Securities	227.07	251.24	-3	5.35	-0.89
Other Investing Activities	24.81	39.52	8.05	3.38	5.75
Investing Cash Flow	201.3	383.1	442.48	-1,125	-23.16
Long-Term Debt Issued	-	-	-	743.2	-
Long-Term Debt Repaid	-	-633.88	-62.8	-70.65	-74.93
Net Debt Issued (Repaid)	-790.46	-633.88	-62.8	672.55	-74.93
Issuance of Common Stock	-	-	-	414.5	-
Common Dividends Paid	-260.34	-116.55	-41.25	-76.92	-87.88
Other Financing Activities	-82.89	-99.11	-56.07	-28.87	-23.33
Financing Cash Flow	-1,134	-849.54	-160.12	981.27	-186.14
Net Cash Flow	-645.63	-228.89	532.4	21.25	-8.95
Free Cash Flow	133.75	98.92	129.1	0.37	172.03
Free Cash Flow Growth	3.60%	-23.38%	34604.84%	-99.78%	-
Free Cash Flow Margin	6.89%	4.93%	9.54%	0.03%	15.13%
Free Cash Flow Per Share	0.06	0.04	0.13	-	-
Cash Interest Paid	82.89	99.11	54.08	28.87	23.33
Levered Free Cash Flow	-	145.62	-241.65	-132.21	-
Unlevered Free Cash Flow	-	198.09	-201.45	-114.17	-
Change in Working Capital	-33.49	-32.87	56.89	-32.02	-10.58

Source: S&P Global Market Intelligence. Standard template. Financial Sources.