QSE:GWCS 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	120.05	171.89	215.04	239.58	224.94
Depreciation & Amortization	224.01	239.3	207.25	172.03	163.35
Loss (Gain) From Sale of Assets	-7.35	0.3	0.34	-0.1	-0.09
Asset Writedown & Restructuring Costs	-	-	-	-0.39	-0.46
Provision & Write-off of Bad Debts	1.8	4.49	3.91	2.73	1.97
Other Operating Activities	111.88	131.95	108.56	70.53	65.01
Change in Accounts Receivable	94.89	7.83	85.74	-174.76	-94.57
Change in Inventory	0.19	3.36	5.63	-2.5	-1.9
Change in Accounts Payable	-7.63	-100.51	5.76	109.99	62.42
Operating Cash Flow	537.85	458.61	632.24	417.12	420.67
Operating Cash Flow Growth	17.28%	-27.46%	51.57%	-0.84%	-14.53%
Capital Expenditures	-52.6	-157.08	-562.49	-434.35	-389.24
Sale of Property, Plant & Equipment	19.26	0.25	0.83	29.12	0.11
Cash Acquisitions	-1.25	-8.75	-37.5	-	-
Investment in Securities	-34.99	-	-	-	170
Other Investing Activities	4.26	2.89	1.89	-6.08	-8.67
Investing Cash Flow	-65.33	-162.69	-597.26	-411.3	-227.81
Long-Term Debt Issued	545.1	374.35	839.83	712.46	347.98
Long-Term Debt Repaid	-661.86	-557.83	-640.89	-588.79	-309.46
Net Debt Issued (Repaid)	-116.76	-183.47	198.94	123.67	38.52
Common Dividends Paid	-58.6	-64.46	-58.6	-58.6	-58.6
Other Financing Activities	-121.06	-121.76	-125.39	-78.45	-71.16
Financing Cash Flow	-296.43	-369.7	14.95	-13.39	-91.24
Foreign Exchange Rate Adjustments	0.14	-0.12	0.28	-0.52	-0.1
Net Cash Flow	176.23	-73.9	50.21	-8.09	101.53
Free Cash Flow	485.25	301.52	69.75	-17.22	31.43
Free Cash Flow Growth	60.93%	332.29%	-	-	-64.61%
Free Cash Flow Margin	35.12%	19.05%	4.62%	-1.13%	2.41%
Free Cash Flow Per Share	0.83	0.52	0.12	-0.03	0.05
Cash Interest Paid	108.32	121.76	125.39	66.2	71.16
Cash Income Tax Paid	1.03	2.27	2.03	1.79	1.33
Levered Free Cash Flow	326.68	114.64	-112.07	-133.99	-134.36
Unlevered Free Cash Flow	394.55	197.31	-47.19	-99.11	-99.02
Change in Working Capital	87.45	-89.32	97.13	-67.27	-34.05

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