Shaheen Insurance Company 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
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
Net Income	139.09	165.27	116.3	53.38	31.08	35.6
Depreciation & Amortization	29.95	21.37	12.47	15.45	15.98	14.99
Gain (Loss) on Sale of Assets	-2.76	-8.47	-0.39	-2.97	-0.55	-9.1
Change in Other Net Operating Assets	179.96	-1.61	132.66	79.2	11.76	25.29
Other Operating Activities	-101.2	-108.93	-122.82	-81.81	-49.42	-81.19
Operating Cash Flow	243.22	65.82	138.23	51.14	-10.72	-14.41
Operating Cash Flow Growth	142.06%	-52.38%	170.28%	-	-	-
Capital Expenditures	-17.74	-61.7	-44.11	-27.47	-8.19	-5.09
Sale of Property, Plant & Equipment	5.25	12.99	2.58	3.13	0.55	4.47
Investment in Securities	-415.22	-597.16	13.01	-10.39	-0.71	-88.01
Other Investing Activities	166.6	169.7	135.74	70.19	46.96	53.32
Investing Cash Flow	-261.11	-476.18	107.22	35.45	38.61	-35.31
Total Debt Repaid	-22.94	-19.16	-14.85	-12.73	-18.57	-13.87
Net Debt Issued (Repaid)	-22.94	-19.16	-14.85	-12.73	-18.57	-13.87
Common Dividends Paid	-	-	-0.02	-	-	-
Other Financing Activities	12.73	1.35	-	-	-	-
Financing Cash Flow	-10.21	-17.81	-14.86	-12.73	-18.57	-13.87
Net Cash Flow	-28.1	-428.16	230.58	73.86	9.32	-63.58
Free Cash Flow	225.48	4.12	94.12	23.67	-18.91	-19.49
Free Cash Flow Growth	1029.92%	-95.62%	297.66%	-	-	-
Free Cash Flow Margin	15.43%	0.38%	15.89%	6.04%	-8.04%	-6.63%
Free Cash Flow Per Share	2.80	0.05	1.17	0.29	-0.23	-0.24
Cash Interest Paid	1.45	-	-	-	-	-
Cash Income Tax Paid	10.34	46.49	17.3	9.02	8.39	11.69
Levered Free Cash Flow	-416.21	133.96	171.69	72.76	45.32	32.19
Unlevered Free Cash Flow	-413.35	135.91	173.14	74.29	46.67	34.16
Change in Working Capital	179.96	-1.61	132.66	79.2	11.76	25.29

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.