Mabanee Company K.P.S.C. 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	84.56	65.21	64.99	61.08	55.41
Depreciation & Amortization	25.24	25.35	25.36	21.02	18.16
Gain (Loss) on Sale of Assets	-21.56	-	-	-	-
Gain (Loss) on Sale of Investments	0	-0	0.01	0.01	-0.01
Income (Loss) on Equity Investments	-0.78	-0.79	-0.24	-0.67	-0.16
Change in Accounts Receivable	-25.75	-12	-9.14	1.18	7.57
Change in Accounts Payable	-16.68	-11.61	-0.49	-4.81	-3.93
Change in Other Net Operating Assets	1.89	-	-8.45	0.06	0.16
Other Operating Activities	4.75	7.54	8.76	8.17	7.24
Operating Cash Flow	54.08	73.69	80.81	86.02	84.44
Operating Cash Flow Growth	-26.61%	-8.81%	-6.06%	1.88%	146.82%
Acquisition of Real Estate Assets	-278.6	-169.77	-118.13	-92.36	-25.25
Sale of Real Estate Assets	28	-	-	-	-
Net Sale / Acq. of Real Estate Assets	-250.6	-169.77	-118.13	-92.36	-25.25
Investment in Marketable & Equity Securities	68.97	19.88	-131.28	62.85	-99.53
Other Investing Activities	3.44	4.64	2.76	0.1	15.29
Investing Cash Flow	-178.19	-145.24	-246.66	-29.41	-109.49
Long-Term Debt Issued	260.59	172.88	219.24	113.57	83.91
Long-Term Debt Repaid	-73.27	-43.9	-68.91	-116.69	-39.1
Net Debt Issued (Repaid)	187.32	128.98	150.34	-3.12	44.81
Issuance of Common Stock	-	0.36	0.42	0.05	-
Repurchase of Common Stock	-	-0.32	-0.36	-0.04	-
Common Dividends Paid	-19.53	-18.42	-17.27	-16.23	-6.58
Other Financing Activities	-30.19	-41.03	-24.88	-10.86	-9.81
Foreign Exchange Rate Adjustments	-1.08	-0.6	0.32	0.83	0.78
Net Cash Flow	12.4	-2.57	-57.27	27.25	4.15
Cash Interest Paid	-	41.02	25.84	0.39	9.81
Levered Free Cash Flow	56.85	54.84	62.09	34.58	36.27
Unlevered Free Cash Flow	61.82	63.22	69.6	38.77	39.47
Change in Working Capital	-40.54	-23.61	-18.08	-3.58	3.8

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