QSE:MERS 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	143.15	122.11	181.15	196.61	196.26
Depreciation & Amortization	123.08	109.45	110.61	119.36	118.91
Loss (Gain) From Sale of Assets	-0.11	0.07	-0.07	-0.04	0.1
Asset Writedown & Restructuring Costs	3.51	-	-	-	-
Loss (Gain) on Equity Investments	-0.05	0.04	0.03	0.03	0.04
Provision & Write-off of Bad Debts	-3.33	5.3	7.36	-0.46	-
Other Operating Activities	-4.44	14.46	-4.67	-2.45	-4.96
Change in Accounts Receivable	-1.2	-6.18	36.88	-74.26	-4.81
Change in Inventory	-5.99	16.53	-48.19	-95.03	-5.4
Change in Accounts Payable	34.25	-29.01	-78.15	137.47	-86.1
Change in Other Net Operating Assets	-0.2	-0.12	-0.07	-0.3	-1.25
Operating Cash Flow	288.66	232.65	204.87	280.93	212.78
Operating Cash Flow Growth	24.07%	13.56%	-27.08%	32.03%	-49.74%
Capital Expenditures	-104.47	-191.85	-131.06	-68.12	-157.57
Sale of Property, Plant & Equipment	0.55	0.11	1.24	0.21	0.09
Sale (Purchase) of Intangibles	-1	-	-	-	-0.15
Investment in Securities	-8.68	-37.47	-26.12	7.41	-8.06
Other Investing Activities	24.7	41.73	37.21	15.16	93.87
Investing Cash Flow	-88.9	-187.47	-118.73	-45.35	-71.82
Long-Term Debt Issued	175	220	86.38	-	116.35
Long-Term Debt Repaid	-91.73	-82.34	-90.45	-79.38	-82.53
Net Debt Issued (Repaid)	83.27	137.66	-4.07	-79.38	33.81
Common Dividends Paid	-178.42	-179.75	-97.71	-175.58	-192.21
Other Financing Activities	-45.51	-37.76	-23.19	-26.07	-11.13
Financing Cash Flow	-140.65	-79.84	-124.98	-281.03	-169.54
Net Cash Flow	59.1	-34.66	-38.84	-45.44	-28.57
Free Cash Flow	184.19	40.81	73.81	212.81	55.21
Free Cash Flow Growth	351.39%	-44.71%	-65.32%	285.45%	-84.71%
Free Cash Flow Margin	6.33%	1.45%	2.60%	7.57%	1.96%
Free Cash Flow Per Share	0.89	0.20	0.36	1.03	0.27
Cash Interest Paid	45.51	37.76	23.19	26.07	11.13
Cash Income Tax Paid	0.23	0.19	0.13	0.18	0.42
Levered Free Cash Flow	111.82	-25.24	-11.26	129.21	-124.7
Unlevered Free Cash Flow	137.85	-6.12	2.57	141.79	-112.16
Change in Working Capital	26.85	-18.78	-89.54	-32.11	-97.56

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