DFM:DEWA 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	8,347	7,013	7,701	7,723	6,123
Depreciation & Amortization	6,612	6,495	6,055	5,387	5,232
Other Amortization	353.93	132.52	95.47	80.08	80.72
Loss (Gain) on Sale of Assets	-1.82	-4.68	-0.4	-0.31	-0.18
Loss (Gain) on Sale of Investments	-14.08	3.87	71.94	9.77	4.79
Loss (Gain) on Equity Investments	-	-	-	-	-0.5
Asset Writedown	-28.97	-28.21	231.09	49.82	-81.16
Change in Accounts Receivable	-280.26	410.62	786.3	-506.29	-1,064
Change in Inventory	46.9	-169.24	35.66	-8.43	-64.37
Change in Accounts Payable	5,339	3,405	2,402	2,120	838.48
Change in Other Net Operating Assets	1,769	-383.89	-556.91	-586.4	-945.62
Other Operating Activities	-196.52	658.98	-351.33	-180.16	-194.15
Operating Cash Flow	21,850	17,435	16,518	14,232	10,020
Operating Cash Flow Growth	25.32%	5.56%	16.06%	42.03%	20.93%
Capital Expenditures	-10,590	-9,267	-6,805	-8,630	-12,268
Sale of Property, Plant & Equipment	8.73	167.46	20.6	4.24	3.92
Cash Acquisitions	-	-0.16	-892.5	-	-
Sale (Purchase) of Intangibles	-13.6	-7.21	-21.44	-8.63	-381.75
Investment in Securities	-4,996	1,159	2,202	-4,398	-2,697
Other Investing Activities	1,201	1,015	732.82	286.12	138.23
Investing Cash Flow	-14,415	-6,933	-4,776	-12,746	-15,205
Long-Term Debt Issued	19,604	7,503	2,367	18,511	8,552
Long-Term Debt Repaid	-16,859	-8,876	-4,327	-4,594	-524.98
Net Debt Issued (Repaid)	2,745	-1,374	-1,960	13,918	8,027
Common Dividends Paid	-6,200	-6,200	-7,870	-13,100	-2,000
Other Financing Activities	-1,867	-2,213	-1,976	-523.06	-1,173
Financing Cash Flow	-5,322	-9,787	-11,806	-1,735	4,854
Net Cash Flow	2,114	715.31	-63.98	-249.75	-330.47
Free Cash Flow	11,260	8,168	9,713	5,602	-2,248
Free Cash Flow Growth	37.86%	-15.90%	73.40%	-	-
Free Cash Flow Margin	34.29%	26.37%	33.29%	20.49%	-9.44%
Free Cash Flow Per Share	0.23	0.16	0.19	0.11	-0.04
Cash Interest Paid	2,206	2,577	2,378	1,834	1,076
Cash Income Tax Paid	818.09	-	-	-	-
Levered Free Cash Flow	2,909	5,345	5,056	1,683	-379.6
Unlevered Free Cash Flow	3,793	6,616	6,043	2,080	-141.54
Change in Working Capital	6,874	3,263	2,668	1,018	-1,236

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