DFM:EMPOWER 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	993.3	896.75	952.93	1,001	935.86
Depreciation & Amortization	376.03	359.08	348.2	326.83	311.55
Other Amortization	3.78	3.78	2.85	8.48	1.6
Loss (Gain) on Sale of Assets	-	0.03	-	-0.03	-0.03
Loss (Gain) on Sale of Investments	-	-	-	17.87	8.57
Loss (Gain) on Equity Investments	0.19	-	-	-	-
Asset Writedown	-	0.92	-	-12.73	-32.33
Change in Accounts Receivable	-21.88	46.83	6.01	-77.13	6.02
Change in Inventory	-1.93	-10.06	2.03	-19.49	8.06
Change in Accounts Payable	336.17	215.83	-0.69	46.83	37.53
Change in Other Net Operating Assets	36.93	69.96	-98.74	63.2	77.89
Other Operating Activities	155.58	258.76	179.01	70.25	11.48
Operating Cash Flow	1,862	1,824	1,392	1,425	1,366
Operating Cash Flow Growth	2.06%	31.10%	-2.32%	4.28%	32.69%
Capital Expenditures	-440.04	-306.78	-320.14	-434.86	-571.58
Sale of Property, Plant & Equipment	-	-	-	0.03	0.03
Cash Acquisitions	-	-0.16	-892.5	-	-668.29
Investment in Securities	-46.73	-18.05	-26.2	203.5	-197.3
Other Investing Activities	54.64	52.87	42.89	35.55	11.02
Investing Cash Flow	-432.13	-272.12	-1,209	-195.78	-1,426
Long-Term Debt Issued	6,749	4,749	-	5,406	917.29
Long-Term Debt Repaid	-6,755	-3,755	-3.18	-2,916	-260.62
Net Debt Issued (Repaid)	-6.03	994.81	-3.18	2,490	656.67
Common Dividends Paid	-875	-850	-850	-3,400	-400.3
Other Financing Activities	-229.76	-299.24	-264.8	-90.95	-20.06
Financing Cash Flow	-1,111	-154.43	-1,118	-1,001	236.31
Net Cash Flow	319.12	1,398	-935.13	228.32	176.39
Free Cash Flow	1,422	1,518	1,071	989.78	794.63
Free Cash Flow Growth	-6.30%	41.64%	8.25%	24.56%	212.65%
Free Cash Flow Margin	41.59%	46.55%	35.30%	35.44%	32.25%
Free Cash Flow Per Share	0.14	0.15	0.11	0.10	0.08
Cash Interest Paid	229.76	299.24	264.8	90.95	20.06
Cash Income Tax Paid	88.95	-	-	-	-
Levered Free Cash Flow	1,007	1,023	359.67	506.56	324.33
Unlevered Free Cash Flow	1,144	1,175	494.84	552.26	328.43
Change in Working Capital	349.29	322.56	-91.39	13.4	129.51

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