DFM:AMAN 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	8.13	-28.41	31.96	-10.16	12.29
Depreciation & Amortization	0.04	0.04	0.08	0.12	0.14
Gain (Loss) on Sale of Investments	-0.09	7.18	11	-4.9	6.6
Change in Accounts Receivable	-2.02	3.31	9.3	-	8.97
Reinsurance Recoverable	34.91	27.33	28.9	-	2.87
Change in Accounts Payable	84.88	34.82	3.57	24.57	-12.08
Change in Unearned Revenue	-0.38	-1.44	-22.2	-	-
Change in Insurance Reserves / Liabilities	7.67	-203.4	-231	-	36.94
Change in Other Net Operating Assets	41.52	20.01	68.83	-19.92	0.19
Other Operating Activities	-10.22	-2.03	-4.05	-2.95	-11.14
Operating Cash Flow	150.5	-141.11	-119.59	-8.33	38.2
Operating Cash Flow Growth	-	-	-	-	-56.32%
Capital Expenditures	-0.02	-0.03	-	-0.03	-0.09
Investment in Securities	-115.52	216.13	43.52	92.84	4.28
Other Investing Activities	2.18	1.75	0.44	-24.17	11.43
Investing Cash Flow	-113.36	217.84	43.96	68.64	15.62
Total Debt Repaid	-	-	-	-15.23	-19.99
Net Debt Issued (Repaid)	-	-	-	-15.23	-19.99
Other Financing Activities	-0.32	-0.44	-0.45	-0.3	-0.33
Financing Cash Flow	-0.32	-0.44	-0.45	-15.52	-20.33
Net Cash Flow	36.82	76.29	-76.07	44.79	33.5
Free Cash Flow	150.48	-141.14	-119.59	-8.36	38.11
Free Cash Flow Growth	-	-	-	-	-56.34%
Free Cash Flow Margin	585.38%	-206.61%	-181.12%	-127.13%	28.28%
Free Cash Flow Per Share	0.67	-0.63	-0.53	-0.04	0.17
Levered Free Cash Flow	72	80.28	42.33	733.69	-26.66
Unlevered Free Cash Flow	72	80.28	42.33	733.69	-26.66
Change in Working Capital	154.5	-121.57	-150.68	3.96	34.37

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