DFM:GULFNAV Cash Flow Statement

Financials in millions AED. Fiscal year is January - December.

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	8.05	-20.08	21.28	-7.43	58.12	-284.46
Depreciation & Amortization	43.6	45.12	36.73	41.47	40.04	46.84
Other Amortization	4.09	0.67	4.17	-	-	-
Loss (Gain) From Sale of Assets	-	-	-24.83	-	-	9.61
Asset Writedown & Restructuring Costs	3.66	1.83	-	-	-	210.42
Loss (Gain) From Sale of Investments	-8.82	7.66	2.01	-	-	-
Provision & Write-off of Bad Debts	-	-	1	0.4	2.14	-
Other Operating Activities	9.56	8.64	-18.27	13.19	29.09	44.09
Change in Accounts Receivable	-25.23	1.45	-6.78	-3.83	8.79	9.1
Change in Inventory	1.65	-1.35	-1.12	0.29	-1.82	2.91
Change in Accounts Payable	-11.55	-16.35	-23.6	-31.65	8.81	-6.06
Change in Other Net Operating Assets	0.15	0.15	3.1	-	-0.14	-
Operating Cash Flow	25.17	27.73	-6.32	12.44	145.03	32.45
Operating Cash Flow Growth	-40.51%	-	-	-91.42%	347.01%	-16.66%
Capital Expenditures	-34.57	-87.05	-40.45	-1.51	-18.32	-3.11
Sale of Property, Plant & Equipment	-	-	99.47	-	-	5.46
Cash Acquisitions	-	-	-	-0.92	-	-
Investment in Securities	229.56	292.02	-302.39	-	-	-
Investing Cash Flow	194.99	204.97	-243.37	-2.43	-18.32	2.35
Short-Term Debt Issued	-	-	-	-	-	10.01
Long-Term Debt Issued	-	-	180.19	226.92	52.16	87.57
Total Debt Issued	155.87	-	180.19	226.92	52.16	97.58
Short-Term Debt Repaid	-	-	-	-	-6	-32.02
Long-Term Debt Repaid	-	-207.09	-141.36	-223.18	-148.94	-72.6
Total Debt Repaid	-306.31	-207.09	-141.36	-223.18	-154.94	-104.62
Net Debt Issued (Repaid)	-150.44	-207.09	38.83	3.74	-102.78	-7.04
Issuance of Common Stock	31.94	-	220	5.12	-	-
Repurchase of Common Stock	-47.33	-195.24	-47.35	-	-	-
Other Financing Activities	-35.84	164.77	30.48	-10.81	-21.42	-37.44
Financing Cash Flow	-201.66	-237.56	241.95	-1.95	-124.21	-44.48
Net Cash Flow	18.5	-4.86	-7.74	8.06	2.51	-9.69
Free Cash Flow	-9.4	-59.32	-46.78	10.93	126.71	29.34
Free Cash Flow Growth	-	-	-	-91.38%	331.94%	751.77%
Free Cash Flow Margin	-8.55%	-66.88%	-44.32%	7.96%	106.17%	20.57%
Free Cash Flow Per Share	-0.01	-0.07	-0.05	0.02	0.25	0.06
Cash Interest Paid	15.17	19.59	15.26	18.69	17.84	25.07
Levered Free Cash Flow	-82.82	61.71	-20.68	7.46	13.45	20.72
Unlevered Free Cash Flow	-76.25	73.68	-11.15	27.75	38.48	48.69
Change in Working Capital	-34.98	-16.1	-28.39	-35.19	15.64	5.95

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.