NICO Holdings Cash Flow Statement

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

Millions MWK. 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	167,833	72,009	30,912	-	9,736
Depreciation & Amortization	8,446	6,126	4,269	3,776	3,864
Other Amortization	3,405	2,258	1,115	1,529	1,533
Gain (Loss) on Sale of Assets	-129.26	-157.39	-	-	-
Gain (Loss) on Sale of Investments	-1,093,052	-224,485	-	-	-
Reinsurance Recoverable	1,348	405.7	-	-	-
Change in Accounts Payable	-86,983	240,827	-	-	-
Change in Insurance Reserves / Liabilities	910,998	248,401	-	-	-
Change in Other Net Operating Assets	-115,830	-298,394	-	-	-
Other Operating Activities	120,730	20,889	23,274	-3,963	67,132
Operating Cash Flow	-47,197	71,131	59,570	1,342	82,265
Operating Cash Flow Growth	-	19.41%	4339.25%	-98.37%	23.44%
Capital Expenditures	-18,756	-15,257	-8,746	-3,661	-5,152
Sale of Property, Plant & Equipment	1,430	175.07	79.68	61.4	108.23
Purchase / Sale of Intangible Assets	-2,928	-9,181	-6,135	-1,213	-
Investment in Securities	-50,453	-53,774	-20,141	-45,465	-112,593
Other Investing Activities	85,862	69,601	73,571	61,454	45,862
Investing Cash Flow	88,970	31,569	37,902	16,001	-64,124
Long-Term Debt Issued	26,209	20,513	2,858	-	2,000
Total Debt Repaid	-10,601	-8,110	-3,793	-2,887	-2,254
Net Debt Issued (Repaid)	15,608	12,403	-934.96	-2,887	-253.52
Repurchases of Common Stock	-83.8	-	-	-	-
Common Dividends Paid	-46,663	-24,503	-14,467	-4,758	-7,109
Other Financing Activities	-8,991	-	-	-	1,217
Financing Cash Flow	-40,130	-12,100	-15,401	-7,645	-6,145
Foreign Exchange Rate Adjustments	-259.77	217	3,786	-1,790	-34.64
Net Cash Flow	1,382	90,817	85,857	7,908	11,961
Free Cash Flow	-65,954	55,874	50,824	-2,319	77,113
Free Cash Flow Growth	-	9.94%	-	-	30.27%
Free Cash Flow Margin	-7.44%	10.81%	17.50%	-1.13%	36.26%
Free Cash Flow Per Share	-63.23	53.57	48.73	-2.22	73.93
Cash Interest Paid	189,116	118,376	2,387	1,989	1,510
Cash Income Tax Paid	126,620	119,470	25,153	15,686	10,499
Levered Free Cash Flow	620,539	145,188	203,225	138,187	234,677
Unlevered Free Cash Flow	721,561	221,595	244,724	163,640	235,517
Change in Working Capital	708,870	190,895	-	-	-

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