KWSE:IPG Cash Flow Statement

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

Millions KWD. 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	10.17	9.01	7.82	7.66	7.19
Depreciation & Amortization	6.61	6.56	7.57	5.98	5.42
Loss (Gain) From Sale of Investments	-9.08	-6.11	-6.75	10.23	-4.55
Loss (Gain) on Equity Investments	-11.66	-9.66	-8.01	-7.64	-6.14
Provision & Write-off of Bad Debts	11.48	22.4	5.59	-0.41	6.47
Other Operating Activities	9.65	16.22	13.13	5.56	2.3
Change in Accounts Receivable	11.04	6.03	-119.86	56.58	-49.51
Change in Inventory	16.44	0.43	24.51	-0.98	-25.93
Change in Accounts Payable	-78.7	-8.49	58.59	-37.5	55.21
Change in Other Net Operating Assets	-2.21	-4.81	0.71	-24.07	1.31
Operating Cash Flow	-36.28	31.57	-16.69	15.4	-8.24
Capital Expenditures	-6.96	-0.13	-0.1	-0.34	-2.31
Sale of Property, Plant & Equipment	-	-	-	-	1.43
Other Investing Activities	12.14	10.56	10.64	13.12	5.63
Investing Cash Flow	5.19	10.43	10.54	12.78	4.74
Long-Term Debt Issued	9.06	-	3.03	32.23	40.41
Total Debt Issued	9.06	-	3.03	32.23	40.41
Long-Term Debt Repaid	-	-0.78	-7.58	-0.97	-3.86
Total Debt Repaid	-	-0.78	-7.58	-0.97	-3.86
Net Debt Issued (Repaid)	9.06	-0.78	-4.55	31.26	36.55
Common Dividends Paid	-7.23	-5.42	-5.42	-5.42	-5.42
Other Financing Activities	-10.43	-16.79	-14.06	-9.35	-3.31
Financing Cash Flow	-8.6	-23	-24.03	16.49	27.82
Foreign Exchange Rate Adjustments	1.46	-0.51	0.97	-5.58	1.06
Net Cash Flow	-38.23	18.5	-29.22	39.09	25.38
Free Cash Flow	-43.24	31.44	-16.79	15.06	-10.55
Free Cash Flow Margin	-4.89%	2.58%	-1.57%	0.92%	-1.05%
Free Cash Flow Per Share	-0.24	0.17	-0.09	0.08	-0.06
Cash Interest Paid	10.43	16.79	14.06	9.35	3.31
Levered Free Cash Flow	-54.48	14.01	-29.31	16.6	-9.47
Unlevered Free Cash Flow	-48.25	24.25	-20.1	23.03	-7.28
Change in Working Capital	-53.43	-6.84	-36.05	-5.98	-18.93

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