Solidarity Bahrain B.S.C. Cash Flow Statement

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

Millions BHD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
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	Dec '20 Dec 31, 2020
Net Income	10.59	8.07	5.48	4.56	3.31	3.08
Depreciation & Amortization	0.67	0.66	0.42	0.32	0.48	0.25
Other Amortization	0.43	0.2	0.16	0.16	-	-
Gain (Loss) on Sale of Investments	-0.1	0	-0.03	0.03	0.04	0.05
Change in Accounts Receivable	2.84	-	-	-1.15	1.33	0.88
Reinsurance Recoverable	10.05	-0.8	1.48	-0.59	-0.82	2.12
Change in Unearned Revenue	-	-	-	-0.2	0.07	-0.07
Change in Insurance Reserves / Liabilities	-1.8	3.12	4.82	1.7	1.37	-0.87
Change in Other Net Operating Assets	0.12	-0.64	-9.04	0.47	0.24	0.17
Other Operating Activities	-6.72	-3.16	-2.42	-2.53	-1.71	-1.72
Operating Cash Flow	0.82	4.88	1.29	3.24	4.29	3.98
Operating Cash Flow Growth	-80.64%	279.24%	-60.26%	-24.48%	7.61%	209.40%
Capital Expenditures	-0.84	-0.79	-0.34	-0.12	-0.14	-1.19
Sale of Property, Plant & Equipment	0.58	-	-	-	-	-
Cash Acquisitions	-75	-	-9.78	8.36	-	-
Investment in Securities	17.29	4.61	10.79	-11.05	-3.27	-1.84
Other Investing Activities	10.22	2.58	2.7	2.15	2.05	1.7
Investing Cash Flow	-36.05	6.4	7.04	-0.66	-1.36	-1.33
Long-Term Debt Issued	-	9.3	-	-	-	-
Total Debt Repaid	-9.85	-0.33	-0.21	-0.19	-0.22	-
Net Debt Issued (Repaid)	41.13	8.97	-0.21	-0.19	-0.22	-
Common Dividends Paid	-1.37	-3.33	-2.67	-2.4	-2.1	-2.23
Financing Cash Flow	51.3	5.64	-2.87	-2.58	-2.32	-2.23
Net Cash Flow	16.07	16.92	5.46	-0.01	0.61	0.42
Free Cash Flow	-0.02	4.09	0.95	3.12	4.15	2.79
Free Cash Flow Growth	-	332.28%	-69.68%	-24.86%	48.51%	177.91%
Free Cash Flow Margin	-0.03%	9.58%	2.62%	9.86%	23.28%	15.52%
Free Cash Flow Per Share	-	0.02	0.01	0.02	0.03	0.02
Levered Free Cash Flow	-0.5	7.45	6.93	5	4.33	3.07
Unlevered Free Cash Flow	-0.5	7.45	6.93	5	4.33	3.07
Change in Working Capital	-0.25	1.82	-2.29	0.62	2.17	2.17

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