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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	121.85	203.76	134.86	62.23	-28.72	48.97
Depreciation & Amortization	18.57	18.31	18.6	18.3	18.27	18.07
Loss (Gain) From Sale of Assets	-0.03	-0.02	-0	-	-	-0.02
Loss (Gain) From Sale of Investments	13.91	-0.83	-3.87	29.59	4.14	-8.28
Loss (Gain) on Equity Investments	-82.66	-159.91	-141.33	-86.09	-	-14.3
Provision & Write-off of Bad Debts	1.66	1.66	-	3.14	-	-34.58
Other Operating Activities	-6.23	-12.47	-4.6	-34.79	-22.71	-37.89
Change in Accounts Receivable	-9.19	-6.53	15.45	-20.9	-25.48	9.41
Change in Inventory	-0.92	5.89	-4.06	13.74	-27.75	4.9
Change in Accounts Payable	-0.58	-0.7	-4.46	-8.66	-4.96	0.71
Change in Other Net Operating Assets	-1.84	-4.43	0.47	4.73	-	-
Operating Cash Flow	54.54	44.73	11.05	-18.71	-87.21	-12.99
Operating Cash Flow Growth	24.26%	304.87%	-	-	-	-
Capital Expenditures	-10.27	-8.59	-10.28	-3.31	-4.82	-1.24
Sale of Property, Plant & Equipment	0.03	0.03	0.02	-	-	0.02
Investment in Securities	-34.97	-138.91	-79.79	12.49	112.13	19.57
Other Investing Activities	86.76	167.97	145.86	118.94	27.84	62.88
Investing Cash Flow	41.55	20.5	55.81	128.11	135.15	81.22
Short-Term Debt Issued	-	-	-	168.61	225	-
Long-Term Debt Issued	-	-	-	-	-	245
Total Debt Issued	-	-	-	168.61	225	245
Short-Term Debt Repaid	-	-	-20	-268.61	-230	-
Long-Term Debt Repaid	-	-	-	-	-	-334.07
Total Debt Repaid	-	-	-20	-268.61	-230	-334.07
Net Debt Issued (Repaid)	-	-	-20	-100	-5	-89.07
Common Dividends Paid	-71.76	-71.76	-53.82	-	-35.88	-
Other Financing Activities	-1.54	-0.06	-0.5	-5.48	-4.13	-3.27
Financing Cash Flow	-73.3	-71.82	-74.32	-105.48	-45.01	-92.34
Net Cash Flow	22.79	-6.59	-7.46	3.92	2.93	-24.11
Free Cash Flow	44.27	36.14	0.77	-22.02	-92.03	-14.23
Free Cash Flow Growth	39.44%	4593.64%	-	-	-	-
Free Cash Flow Margin	16.41%	14.36%	0.44%	-11.72%	-67.18%	-9.65%
Free Cash Flow Per Share	0.12	0.10	0.00	-0.06	-0.26	-0.04
Cash Interest Paid	0.06	0.06	0.5	5.48	4.13	3.27
Levered Free Cash Flow	-50.43	19.37	6.25	-32.95	-76.17	-12.07
Unlevered Free Cash Flow	-49.46	19.4	6.56	-29.53	-73.59	-10.03
Change in Working Capital	-12.54	-5.77	7.4	-11.09	-58.19	15.02

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