ADX:UNION Cash Flow Statement

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

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	45.98	38.31	-2.48	2.51	13.22
Depreciation & Amortization	2.95	5.2	8.13	8.39	7.95
Other Amortization	-	-	2.12	3.09	2.92
Gain (Loss) on Sale of Assets	-	-14.22	1.3	-0	-0.03
Gain (Loss) on Sale of Investments	-5.54	-0.44	-1.25	2.12	-1.94
Change in Accounts Receivable	-	-	6.4	-35.19	27.86
Reinsurance Recoverable	222.24	-87.01	84.15	38.77	-343.25
Change in Insurance Reserves / Liabilities	-203.46	55.04	-54.6	-35.34	281.52
Change in Other Net Operating Assets	-8.89	-4.17	17.83	-1.05	-
Other Operating Activities	-22.68	-17.95	-17.08	-7.2	-5.04
Operating Cash Flow	30.6	-25.24	39.89	2.59	-4.34
Operating Cash Flow Growth	-	-	1437.82%	-	-
Capital Expenditures	-0.29	-0.59	-0.93	-1.23	-1.99
Sale of Property, Plant & Equipment	-	73.43	0.02	0	0.03
Investment in Securities	-24.49	-88.78	-219.94	106.08	90.13
Other Investing Activities	11.83	20.05	16.97	9.17	6.23
Investing Cash Flow	-12.94	4.11	-203.88	114.02	94.39
Total Debt Repaid	-0.72	-3.24	-3.39	-2.83	-2.73
Net Debt Issued (Repaid)	-0.72	-3.24	-3.39	-2.83	-2.73
Financing Cash Flow	-0.72	-3.24	-3.39	-2.83	-2.73
Net Cash Flow	16.93	-24.37	-167.38	113.79	87.32
Free Cash Flow	30.31	-25.82	38.97	1.37	-6.33
Free Cash Flow Growth	-	-	2752.49%	-	-
Free Cash Flow Margin	9.44%	-9.66%	14.61%	0.45%	-1.59%
Free Cash Flow Per Share	0.13	-0.11	0.17	0.01	-0.03
Levered Free Cash Flow	708.55	-48.7	-576.06	-33.52	14.1
Unlevered Free Cash Flow	708.55	-48.7	-576.06	-33.52	14.1
Change in Working Capital	9.89	-36.14	48.49	-8.43	-33.88

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.