DFM:BHMCAPITAL 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	43.08	37.48	35.34	19.82	12.99
Depreciation & Amortization, Total	2.7	2.64	2.84	2.77	2.7
Gain (Loss) On Sale of Investments	-0.3	0.96	0.24	0.5	-0.04
Change in Accounts Receivable	1.81	-354.15	-435.41	-144.59	-2.52
Change in Accounts Payable	-21.06	298.38	144.08	110.44	-12.89
Change in Other Net Operating Assets	-32.92	35.97	-50	-5	-
Other Operating Activities	58.78	30.94	5.71	1.32	-0.39
Operating Cash Flow	52.37	50.33	-298.9	-14.88	5.1
Capital Expenditures	-2.77	-0.48	-0.9	-0.47	-1.29
Sale (Purchase) of Intangibles	-0.22	-0.52	-0.19	-	-
Investment in Securities	-422.63	-99.59	8.9	-5.67	-2.88
Other Investing Activities	1.22	2.84	0.27	-	-
Investing Cash Flow	-424.4	-97.75	8.08	-1.23	-4.09
Short-Term Debt Issued	115.33	62.41	-	36.7	-
Long-Term Debt Issued	120	-	305	-	-
Total Debt Issued	235.33	62.41	305	36.7	-
Long-Term Debt Repaid	-2.46	-21.06	-0.88	-0.72	-0.72
Total Debt Repaid	-2.46	-21.06	-0.88	-0.72	-0.72
Net Debt Issued (Repaid)	232.87	41.35	304.12	35.98	-0.72
Issuance of Common Stock	200	12.98	6.03	-	-
Repurchase of Common Stock	-	-	-4.36	-12.65	-
Common Dividends Paid	-	-13.44	-	-	-
Other Financing Activities	-60.39	-33.12	-9.22	-1.74	-0.12
Financing Cash Flow	372.48	7.77	296.56	21.6	-0.84
Foreign Exchange Rate Adjustments	1.52	1.56	4.28	1.23	1.34
Net Cash Flow	1.96	-38.09	10.03	6.71	1.52
Free Cash Flow	49.59	49.85	-299.8	-15.35	3.82
Free Cash Flow Growth	-0.51%	-	-	-	-92.03%
Free Cash Flow Margin	35.36%	39.45%	-244.95%	-18.92%	6.02%
Free Cash Flow Per Share	0.18	0.22	-1.41	-0.07	0.02
Cash Interest Paid	60.39	33.12	9.22	1.74	0.12
Cash Income Tax Paid	4.28	3.67	-	-	-

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