Gulf Insurance Group Cash Flow Statement

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

Millions SAR. 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	126.19	98.2	128.53	15.91	138.52
Depreciation & Amortization	15.23	9.14	11.54	8.94	9.46
Other Amortization	-	8.19	11.59	3.46	5.52
Gain (Loss) on Sale of Investments	-4.52	0.48	-6.96	3.93	-4.75
Stock-Based Compensation	-	-	-	-	1.38
Change in Accounts Receivable	-	-	-	-	-89.44
Reinsurance Recoverable	-206.43	166.22	-171.18	112.95	-29.83
Change in Unearned Revenue	-	-	-	-	24.78
Change in Insurance Reserves / Liabilities	170.49	-274.26	146.14	-44.9	34.32
Change in Other Net Operating Assets	-61.95	37.13	2.13	-17.34	-11.3
Other Operating Activities	23.79	25.05	56.69	-4	15.8
Operating Cash Flow	63.75	71.17	178.48	78.94	113.45
Operating Cash Flow Growth	-10.43%	-60.12%	126.08%	-30.41%	-58.79%
Capital Expenditures	-3.42	-1.75	-2	-2	-4.62
Purchase / Sale of Intangible Assets	-8.35	-4.12	-6.25	-23.23	-8.95
Investment in Securities	-11.4	-162.96	-151.25	148.09	-338.21
Other Investing Activities	-40.48	107.08	-93.66	95.72	-
Investing Cash Flow	-63.66	-61.75	-253.16	218.59	-351.78
Total Debt Repaid	-2.54	-3.56	-3.62	-2.47	-2.37
Net Debt Issued (Repaid)	-2.54	-3.56	-3.62	-2.47	-2.37
Common Dividends Paid	-63	-78.75	-25	-50	-
Other Financing Activities	-	-	-2.5	-	-0.81
Financing Cash Flow	-65.54	-82.31	-31.12	-52.47	-3.18
Net Cash Flow	-65.44	-72.88	-105.8	245.07	-241.52
Free Cash Flow	60.33	69.43	176.48	76.95	108.82
Free Cash Flow Growth	-13.10%	-60.66%	129.35%	-29.29%	-57.88%
Free Cash Flow Margin	3.82%	4.42%	10.57%	4.98%	7.96%
Free Cash Flow Per Share	1.15	1.32	3.36	1.47	2.07
Cash Interest Paid	-	1.63	0.98	0.72	0.81
Cash Income Tax Paid	-	9.45	5.66	9.8	-
Levered Free Cash Flow	-22.46	259.2	42.07	-1,289	-10.04
Unlevered Free Cash Flow	-22.46	287.93	72.42	-1,289	-9.53
Change in Working Capital	-96.93	-69.88	-22.91	50.71	-56.43

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