DFM:NCC 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	181.93	134.86	62.23	-28.72	48.97	-3.39
Depreciation & Amortization	18.32	18.6	18.3	18.27	18.07	18.67
Loss (Gain) From Sale of Assets	-0.02	-0	-	-	-0.02	-0.03
Loss (Gain) From Sale of Investments	-1.23	-3.87	29.59	4.14	-8.28	19.38
Loss (Gain) on Equity Investments	-159.85	-141.33	-86.09	-	-14.3	-36.47
Provision & Write-off of Bad Debts	-	-	3.14	-	-34.58	-
Other Operating Activities	-10	-4.6	-34.79	-22.71	-37.89	-22.51
Change in Accounts Receivable	-1.99	15.45	-20.9	-25.48	9.41	41.42
Change in Inventory	0.19	-4.06	13.74	-27.75	4.9	8.05
Change in Accounts Payable	8.95	-4.46	-8.66	-4.96	0.71	-0.17
Change in Other Net Operating Assets	1.82	0.47	4.73	-	-	-
Operating Cash Flow	38.11	11.05	-18.71	-87.21	-12.99	24.96
Operating Cash Flow Growth	111.88%	-	-	-	-	-
Capital Expenditures	-9.52	-10.28	-3.31	-4.82	-1.24	-1.86
Sale of Property, Plant & Equipment	0.04	0.02	-	-	0.02	0.05
Investment in Securities	-138.67	-79.79	12.49	112.13	19.57	99.88
Other Investing Activities	171.72	145.86	118.94	27.84	62.88	70.32
Investing Cash Flow	23.57	55.81	128.11	135.15	81.22	168.39
Short-Term Debt Issued	-	-	168.61	225	-	-
Long-Term Debt Issued	-	-	-	-	245	65
Total Debt Issued	-15	-	168.61	225	245	65
Short-Term Debt Repaid	-	-20	-268.61	-230	-	-
Long-Term Debt Repaid	-	-	-	-	-334.07	-195.37
Total Debt Repaid	15	-20	-268.61	-230	-334.07	-195.37
Net Debt Issued (Repaid)	-	-20	-100	-5	-89.07	-130.37
Common Dividends Paid	-71.76	-53.82	-	-35.88	-	-36.18
Other Financing Activities	-0.05	-0.5	-5.48	-4.13	-3.27	-12.63
Financing Cash Flow	-71.81	-74.32	-105.48	-45.01	-92.34	-179.18
Net Cash Flow	-10.14	-7.46	3.92	2.93	-24.11	14.17
Free Cash Flow	28.59	0.77	-22.02	-92.03	-14.23	23.1
Free Cash Flow Growth	201.24%	-	-	-	-	-
Free Cash Flow Margin	13.15%	0.44%	-11.72%	-67.18%	-9.65%	12.62%
Free Cash Flow Per Share	0.08	0.00	-0.06	-0.26	-0.04	0.06
Cash Interest Paid	0.05	0.5	5.48	4.13	3.27	12.63
Levered Free Cash Flow	23.42	6.25	-32.95	-76.17	-12.07	30.98
Unlevered Free Cash Flow	23.46	6.56	-29.53	-73.59	-10.03	35.98
Change in Working Capital	8.96	7.4	-11.09	-58.19	15.02	49.3

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