ADX:RAKNIC Cash Flow Statement

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

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	48.9	43.19	15.44	14.54	-35.46	10.47
Depreciation & Amortization	0.35	0.33	0.37	0.71	0.86	1.16
Other Amortization	3.82	4.25	1.61	1.51	1.52	1.48
Gain (Loss) on Sale of Assets	-0	-0	-0.06	-	-0.12	-4.81
Gain (Loss) on Sale of Investments	-2.49	-1.84	-0.09	-0.39	0.23	-0.83
Change in Accounts Receivable	-	-	-	-	-	-7.35
Reinsurance Recoverable	-66.01	-84.04	-31.72	-51.58	65.28	-51.18
Change in Unearned Revenue	-	-	-	-	-	-3.68
Change in Insurance Reserves / Liabilities	114.95	91.69	114.11	33.94	-2.51	91.86
Change in Other Net Operating Assets	5.74	1.13	-8.67	-5.49	-6	-3.99
Other Operating Activities	-19.26	-18.56	-15.32	-13.88	-10.38	-10.36
Operating Cash Flow	89.42	37.23	79.48	-14.72	13.8	25.22
Operating Cash Flow Growth	321.24%	-53.16%	-	-	-45.27%	-
Capital Expenditures	-0.65	-0.61	-0.64	-0.14	-0.23	-0.56
Sale of Property, Plant & Equipment	0	0	0.06	-	0.13	0.01
Purchase / Sale of Intangible Assets	-0.5	-0.52	-0.88	-0.65	-0.54	-0.24
Investment in Securities	-90.71	-90.63	-22.34	8.49	-81.41	-48.63
Other Investing Activities	17.52	23.38	17.78	16.51	13.25	8.5
Investing Cash Flow	-74.33	-68.38	-6.01	24.21	-68.81	-20.87
Short-Term Debt Issued	-	-	15.53	-	16.94	33.06
Long-Term Debt Issued	-	-	-	9.38	-	-
Total Debt Issued	-	-	15.53	9.38	16.94	33.06
Total Debt Repaid	-44.99	-74.91	-	-	-	-
Net Debt Issued (Repaid)	-44.99	-74.91	15.53	9.38	16.94	33.06
Common Dividends Paid	-	-	-	-	-9.7	-9.7
Financing Cash Flow	-44.99	-74.91	15.53	9.38	7.24	23.35
Net Cash Flow	-29.9	-106.06	89	18.88	-47.76	27.71
Free Cash Flow	88.77	36.62	78.85	-14.86	13.57	24.66
Free Cash Flow Growth	332.14%	-53.56%	-	-	-44.98%	-
Free Cash Flow Margin	25.74%	10.83%	25.52%	-5.13%	4.65%	8.07%
Free Cash Flow Per Share	0.73	0.30	0.65	-0.12	0.11	0.20
Cash Interest Paid	0.77	0.89	0.87	1.73	0.5	-
Levered Free Cash Flow	-37.57	187.41	25.82	-47.53	47.77	36.18
Unlevered Free Cash Flow	-37.57	187.41	25.82	-47.53	47.77	36.18
Change in Working Capital	54.69	8.78	73.72	-23.13	56.77	26.53

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