Dubai Investments PJSC 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	1,550	1,205	1,131	1,609	619.49
Depreciation & Amortization	169.48	170.57	165.75	194.26	233.16
Loss (Gain) From Sale of Assets	-22.96	-2.35	-1.27	-981.2	-0.06
Asset Writedown & Restructuring Costs	-836.91	-856.66	-636.97	-170.08	-55.4
Loss (Gain) From Sale of Investments	-155.16	-146.29	-149.52	11.15	-133.1
Loss (Gain) on Equity Investments	-107.9	-84.82	-72.56	-59.37	-0.85
Provision & Write-off of Bad Debts	55.03	272	140.03	161.49	42.42
Other Operating Activities	359.81	414.01	243.06	20.6	79.46
Change in Accounts Receivable	-135.22	-315.84	-327.42	-321.81	-54.66
Change in Inventory	139.77	454.05	660.91	370.24	402.01
Change in Accounts Payable	331.53	-167.38	245.91	33.92	-139.35
Operating Cash Flow	969.53	882.64	1,282	765.02	939.41
Operating Cash Flow Growth	9.84%	-31.17%	67.62%	-18.57%	34.33%
Capital Expenditures	-150.17	-52.47	-75.57	-80.52	-138.28
Sale of Property, Plant & Equipment	1.94	7.64	1.07	7.63	0.5
Cash Acquisitions	-23.64	-	-6.65	-6.93	-0.27
Divestitures	-	-	-	1,113	65
Sale (Purchase) of Intangibles	-9.49	-8.25	-3.91	-1.04	-2.71
Sale (Purchase) of Real Estate	418.3	-311.86	-254.63	-161.97	-420.72
Investment in Securities	23.47	-83.19	-1.93	-57.55	-88.67
Other Investing Activities	153.7	160.35	136.62	122.24	-
Investing Cash Flow	414.11	-287.77	-205	934.95	-585.14
Long-Term Debt Issued	2,539	1,597	1,234	1,316	1,820
Long-Term Debt Repaid	-2,700	-1,544	-1,058	-1,888	-1,740
Net Debt Issued (Repaid)	-160.85	52.72	176.03	-571.71	80.39
Common Dividends Paid	-765.36	-531.5	-531.5	-829.14	-340.16
Other Financing Activities	-177.07	-325.55	-306.63	-186.12	-151.7
Financing Cash Flow	-1,103	-804.34	-662.1	-1,587	-411.47
Net Cash Flow	280.36	-209.47	415.23	113	-57.2
Free Cash Flow	819.37	830.18	1,207	684.5	801.13
Free Cash Flow Growth	-1.30%	-31.21%	76.30%	-14.56%	59.17%
Free Cash Flow Margin	21.75%	21.83%	35.47%	22.21%	23.89%
Free Cash Flow Per Share	0.19	0.20	0.28	0.16	0.19
Cash Interest Paid	356.81	405.6	403.32	252.82	178.94
Cash Income Tax Paid	52.74	-	-	-	-
Levered Free Cash Flow	405.08	450.04	312.28	1,097	687.24
Unlevered Free Cash Flow	628.09	703.54	564.35	1,255	820.68
Change in Working Capital	-41.98	-89.19	462.85	-20.41	154.29

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.