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	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	67.96	84.56	65.21	64.99	61.08	55.41
Depreciation & Amortization	25.45	25.24	25.35	25.36	21.02	18.16
Gain (Loss) on Sale of Assets	-0	-21.56	-	-	-	-
Gain (Loss) on Sale of Investments	0	0	-0	0.01	0.01	-0.01
Income (Loss) on Equity Investments	-0.89	-0.78	-0.79	-0.24	-0.67	-0.16
Change in Accounts Receivable	-36.23	-25.75	-12	-9.14	1.18	7.57
Change in Accounts Payable	-23.76	-16.68	-10.88	-0.49	-4.81	-3.93
Change in Other Net Operating Assets	1.35	1.89	-	-8.45	0.06	0.16
Other Operating Activities	3.21	4.75	6.81	8.76	8.17	7.24
Operating Cash Flow	37.35	54.08	73.69	80.81	86.02	84.44
Operating Cash Flow Growth	-32.07%	-26.61%	-8.81%	-6.06%	1.88%	146.82%
Acquisition of Real Estate Assets	-308.89	-278.6	-169.77	-118.13	-92.36	-25.25
Sale of Real Estate Assets	-	28	-	-	-	-
Net Sale / Acq. of Real Estate Assets	-308.89	-250.6	-169.77	-118.13	-92.36	-25.25
Investment in Marketable & Equity Securities	43.17	68.97	19.88	-131.28	62.85	-99.53
Other Investing Activities	2.44	3.44	4.64	2.76	0.1	15.29
Investing Cash Flow	-263.28	-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)	271.2	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	-19.53	-18.42	-17.27	-16.23	-6.58
Other Financing Activities	-37.15	-30.19	-41.03	-24.88	-10.86	-9.81
Foreign Exchange Rate Adjustments	-1.11	-1.08	-0.6	0.32	0.83	0.78
Net Cash Flow	-12.52	12.4	-2.57	-57.27	27.25	4.15
Cash Interest Paid	59.58	56.54	41.02	25.84	0.39	9.81
Levered Free Cash Flow	6.95	57.34	55.95	62.09	34.58	36.27
Unlevered Free Cash Flow	11.22	62.31	64.34	69.6	38.77	39.47
Change in Working Capital	-58.65	-40.54	-22.88	-18.08	-3.58	3.8

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