KWSE:ZAIN 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	238.53	117.27	215.47	195.97	185.75
Depreciation & Amortization	348.76	394.11	331.92	335.29	356.26
Loss (Gain) From Sale of Assets	-1.2	-2.43	-85.91	-0.27	-1.49
Asset Writedown & Restructuring Costs	5.12	9.86	13.48	21.2	-
Loss (Gain) From Sale of Investments	43.94	50.45	33.29	32.25	-2.61
Loss (Gain) on Equity Investments	-30.35	-2.74	-1.17	-3.61	-3.38
Other Operating Activities	147.73	157.55	196.99	104.29	83.24
Change in Accounts Receivable	-199.65	-207	-141.2	-114.1	-94.54
Change in Inventory	20.03	-22.75	-7.57	11.27	-10.08
Change in Accounts Payable	42.82	-33.84	-2.91	-83.29	-87.26
Change in Other Net Operating Assets	6.38	-2.91	-4.75	-8.18	-
Operating Cash Flow	622.11	458.28	547.63	490.82	411.49
Operating Cash Flow Growth	35.75%	-16.32%	11.58%	19.28%	-33.51%
Capital Expenditures	-222.89	-175.77	-214.7	-182.77	-216.26
Sale of Property, Plant & Equipment	14.51	5.94	-	-	-
Cash Acquisitions	-9.2	-46.95	-10.94	-	-8.76
Sale (Purchase) of Intangibles	-50.83	-37.39	-79.33	-77.42	-129.88
Investment in Securities	-27.7	-11.25	62.52	-8.34	7.91
Other Investing Activities	4.74	9.6	203.02	3.63	5.53
Investing Cash Flow	-291.37	-255.82	-39.44	-264.9	-341.47
Long-Term Debt Issued	848.27	437.43	142.86	458.54	452.37
Long-Term Debt Repaid	-690.71	-433.43	-256.04	-485.15	-395.92
Net Debt Issued (Repaid)	157.55	4	-113.18	-26.61	56.45
Common Dividends Paid	-258.89	-160.59	-151.47	-141.87	-185.51
Other Financing Activities	-147.47	-131.79	-128.95	-55.56	-49.6
Financing Cash Flow	-248.81	-288.38	-393.6	-224.04	-178.66
Foreign Exchange Rate Adjustments	-3.34	-32.89	-28.32	-5.42	-25.21
Net Cash Flow	78.58	-118.81	86.27	-3.54	-133.85
Free Cash Flow	399.21	282.52	332.93	308.06	195.23
Free Cash Flow Growth	41.31%	-15.14%	8.07%	57.79%	-43.48%
Free Cash Flow Margin	17.49%	14.14%	17.44%	17.83%	12.87%
Free Cash Flow Per Share	0.09	0.07	0.08	0.07	0.04
Cash Interest Paid	104.43	107.49	104.19	53.34	45.12
Cash Income Tax Paid	13.57	12.81	7.47	11.34	18.64
Levered Free Cash Flow	265.07	205.57	399.06	-9.86	-3.6
Unlevered Free Cash Flow	342.47	281.8	476.81	44.83	37.82
Change in Working Capital	-130.42	-266.5	-156.43	-194.3	-191.88

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