Arpico Insurance Cash Flow Statement

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

Millions LKR. 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	189.59	234.89	-683.83	36.24	236.7	200.68
Depreciation & Amortization	152.18	142.03	124.14	94.03	93.14	87.01
Other Amortization	0.44	0.44	0.35	0.31	0.29	0.26
Gain (Loss) on Sale of Investments	-31.63	-31.63	-28.46	-18.61	0.87	-
Change in Accounts Receivable	31.76	31.76	7.86	-36.86	-31.66	38.72
Reinsurance Recoverable	0.59	0.59	-9.21	6.47	-1.2	61.18
Change in Insurance Reserves / Liabilities	-170.15	-170.15	644	344.86	-7.91	342.17
Change in Other Net Operating Assets	5.57	5.57	-92.35	156.45	2.38	-59.88
Other Operating Activities	-364.71	-515.86	-536.66	-377.63	-131.04	-146.51
Operating Cash Flow	-215.25	-331.24	-568.97	167.64	145.65	523.63
Operating Cash Flow Growth	-	-	-	15.10%	-72.18%	93.41%
Capital Expenditures	-1.29	-4.38	-10.49	-43.38	-26.58	-24.35
Purchase / Sale of Intangible Assets	-6.92	-6.92	-	-0.84	-0.47	-
Investment in Securities	-175.38	-86.42	-58.55	-957.26	-557.52	-
Other Investing Activities	451.35	490.2	528.36	310.15	122.63	170.33
Investing Cash Flow	267.75	392.48	459.32	-62.45	-596.68	-87.55
Total Debt Repaid	-63.77	-63.77	-3.75	-85.41	-67.5	-63.04
Net Debt Issued (Repaid)	-63.77	-63.77	-3.75	-85.41	-67.5	-63.04
Financing Cash Flow	-63.77	-63.77	-3.75	-85.41	-67.5	-63.04
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	-0
Net Cash Flow	-11.26	-2.53	-113.4	19.78	-518.53	373.03
Free Cash Flow	-216.54	-335.62	-579.46	124.26	119.07	499.28
Free Cash Flow Growth	-	-	-	4.36%	-76.15%	99.45%
Free Cash Flow Margin	-9.32%	-13.48%	-20.78%	4.44%	4.73%	24.46%
Free Cash Flow Per Share	-3.28	-5.07	-8.75	1.88	1.80	7.54
Cash Income Tax Paid	-	-63.15	-	-	-	-4.09
Levered Free Cash Flow	-220.11	87.32	-271.24	680.33	-870.42	386.28
Unlevered Free Cash Flow	-188.8	118.63	-239.91	695.64	-855.56	399.97
Change in Working Capital	-161.11	-161.11	555.48	433.31	-54.31	382.19

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