Atlas Insurance Cash Flow Statement

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

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	1,899	1,889	1,007	719.31	835.38	645.43	Upgrade
Depreciation & Amortization	107.14	93.25	69.71	57.74	45.66	43.49	Upgrade
Gain (Loss) on Sale of Assets	-1.68	-4	-0.43	-4.49	-0.26	-0.47	Upgrade
Gain (Loss) on Sale of Investments	-1,063	-898.61	-11.17	352.99	-4.55	-44.15	Upgrade
Change in Unearned Revenue	306.69	186.63	540.81	350.98	51.22	54.17	Upgrade
Change in Other Net Operating Assets	-409.79	325.36	-131.3	-137.98	553.23	214.32	Upgrade
Other Operating Activities	-1,152	-1,344	-885.09	-509.88	-420.09	-277.4	Upgrade
Operating Cash Flow	-314.32	247.81	589.7	828.68	1,061	635.4	Upgrade
Operating Cash Flow Growth	-	-57.98%	-28.84%	-21.87%	66.92%	18.82%	Upgrade
Capital Expenditures	-135.06	-199.07	-87.56	-77.59	-34.76	-21.95	Upgrade
Sale of Property, Plant & Equipment	20.51	37.54	16.48	15.27	5.26	6.96	Upgrade
Investment in Securities	941.55	-390.64	-743.81	-0.19	-501.23	-57.18	Upgrade
Other Investing Activities	988.42	1,146	818.23	454.37	374.4	232.57	Upgrade
Investing Cash Flow	1,815	593.99	3.34	391.86	-156.33	160.4	Upgrade
Total Debt Repaid	-56.42	-48.34	-42.6	-34.22	-24.08	-31.8	Upgrade
Net Debt Issued (Repaid)	-56.42	-48.34	-42.6	-34.22	-24.08	-31.8	Upgrade
Common Dividends Paid	-1,246	-807.08	-559.31	-607.15	-788.41	-531.43	Upgrade
Financing Cash Flow	-1,302	-855.42	-601.91	-641.37	-812.49	-563.23	Upgrade
Net Cash Flow	199.17	-13.62	-8.87	579.17	91.77	232.57	Upgrade
Free Cash Flow	-449.37	48.73	502.15	751.09	1,026	613.45	Upgrade
Free Cash Flow Growth	-	-90.30%	-33.14%	-26.78%	67.22%	24.07%	Upgrade
Free Cash Flow Margin	-8.12%	0.95%	15.15%	32.73%	46.17%	35.95%	Upgrade
Free Cash Flow Per Share	-3.01	0.33	3.36	5.03	6.87	4.11	Upgrade
Cash Income Tax Paid	1,338	1,000	634.37	367.65	367.16	260.92	Upgrade
Levered Free Cash Flow	904.82	2,336	1,630	971.46	1,573	1,210	Upgrade
Unlevered Free Cash Flow	915.41	2,343	1,638	977.25	1,577	1,216	Upgrade
Change in Working Capital	-103.1	511.99	409.52	213	604.45	268.49	Upgrade

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