Baladna Q.P.S.C. Cash Flow Statement

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

Millions QAR. 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	539.74	185.01	109.63	80.61	133.84
Depreciation & Amortization	151.57	134.81	143.24	140.66	126.3
Loss (Gain) From Sale of Assets	-0.2	-0.12	-0.06	0.19	-0.03
Asset Writedown & Restructuring Costs	-56.41	-45.3	-61.5	-68.9	-52.47
Loss (Gain) From Sale of Investments	-408.01	-37.96	-30.2	23.25	-10.83
Provision & Write-off of Bad Debts	-0.08	0.08	0.82	0.04	0.09
Other Operating Activities	9.97	-40.79	-17	9.67	24.9
Change in Accounts Receivable	17.32	6.72	-71.8	-30.51	3.52
Change in Inventory	28.56	-35.2	45.79	-171.04	28.81
Change in Accounts Payable	-7.31	2.64	27.05	50.04	-17.68
Change in Other Net Operating Assets	-1.83	53.27	-46.91	-25.64	9.04
Operating Cash Flow	273.32	223.15	99.06	8.37	245.5
Operating Cash Flow Growth	22.48%	125.26%	1083.90%	-96.59%	-8.66%
Capital Expenditures	-262.07	-112.99	-163.75	-340.39	-249.93
Sale of Property, Plant & Equipment	63	51.16	34.89	22.03	19.95
Cash Acquisitions	-	-	-6.85	-	-
Sale (Purchase) of Intangibles	-0.03	-1.09	-2.02	-1.05	-1.92
Investment in Securities	-62.77	-113.9	-123.52	-97.31	-133.23
Other Investing Activities	-372.81	2.22	2.28	10	-
Investing Cash Flow	-634.69	-174.59	-258.96	-406.73	-365.13
Long-Term Debt Issued	406.78	80.14	185.51	485.88	244.93
Long-Term Debt Repaid	-0.08	-43.94	-15.21	-10.82	-12.18
Total Debt Repaid	-0.08	-43.94	-15.21	-10.82	-12.18
Net Debt Issued (Repaid)	406.7	36.2	170.3	475.06	232.75
Common Dividends Paid	-1.09	-134.41	-1.46	-92.04	-95.97
Other Financing Activities	257.1	-9.93	14.32	11.34	-30.84
Financing Cash Flow	662.71	-108.14	183.16	394.36	105.95
Foreign Exchange Rate Adjustments	-0.2	-	-	-	-
Net Cash Flow	301.14	-59.58	23.26	-4	-13.69
Free Cash Flow	11.25	110.16	-64.69	-332.02	-4.44
Free Cash Flow Growth	-89.79%	-	-	-	-
Free Cash Flow Margin	0.89%	9.62%	-6.12%	-33.69%	-0.57%
Free Cash Flow Per Share	0.01	0.05	-0.03	-0.15	-0.00
Cash Interest Paid	116.62	123.15	110.01	67.06	35.57
Cash Income Tax Paid	0.95	0.21	0.58	0.81	0.38
Levered Free Cash Flow	43.93	68.61	-97.23	-350.11	-0.61
Unlevered Free Cash Flow	92.98	105.43	-54.65	-312.61	23.41
Change in Working Capital	36.74	27.42	-45.87	-177.15	23.69

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.