Musharaka REIT Fund (TADAWUL:4335)

Musharaka REIT Fund Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-109.89	-22.29	-8.35	10.9	29.87
Depreciation & Amortization	31.25	31.3	31.01	28.69	23.53
Other Amortization	1.5	1.91	4.28	2.63	1.86
Gain (Loss) on Sale of Investments	-0.02	-	-0.15	-0.03	-0.06
Asset Writedown	91.95	5.86	-15	8.44	4.7
Change in Accounts Receivable	-11.34	-1.87	-14.18	8.81	-24.52
Change in Other Net Operating Assets	6.55	6.55	9.77	-12.37	0.28
Other Operating Activities	-2.03	4.42	-5.11	1.62	-5.12
Operating Cash Flow	6.58	27.46	6.15	56.01	41.02
Operating Cash Flow Growth	-76.02%	346.65%	-89.02%	36.54%	-24.75%
Acquisition of Real Estate Assets	-1	-	-2.4	-260.29	-95.93
Net Sale / Acq. of Real Estate Assets	-1	-	-2.4	-260.29	-95.93
Investment in Marketable & Equity Securities	-0.5	50.73	-8.65	-35	-
Other Investing Activities	-	-	9.9	11.6	28.75
Investing Cash Flow	-1.5	50.73	8.12	-273.21	-67.18
Long-Term Debt Issued	-	-	320.74	254.88	101.63
Total Debt Issued	-	-	320.74	254.88	101.63
Long-Term Debt Repaid	-13.2	-11.05	-334.36	-11.52	-10.17
Total Debt Repaid	-13.2	-11.05	-334.36	-11.52	-10.17
Net Debt Issued (Repaid)	-13.2	-11.05	-13.62	243.36	91.46
Common Dividends Paid	-21.12	-17.6	-23.76	-52.8	-52.33
Net Cash Flow	-29.23	49.55	-23.11	-26.65	12.97
Cash Interest Paid	51.37	49.51	44.72	13.87	9.67
Levered Free Cash Flow	13.37	57.4	19.8	30.28	53.9
Unlevered Free Cash Flow	44.56	90.95	50.08	47.82	62.78
Change in Working Capital	-6.17	6.27	-2.42	-1.29	-13.65

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