TADAWUL:9540 Cash Flow Statement

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

Millions SAR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	63.11	60.89	36.16	25.8	18.12	11.26
Depreciation & Amortization	14.3	13.41	8.79	4.53	4.65	2.89
Loss (Gain) From Sale of Assets	0.05	0.05	-0.01	-	0	0.12
Stock-Based Compensation	-	-	0.2	0.2	-	-
Provision & Write-off of Bad Debts	3.42	3.41	1.39	0.12	0.89	0.06
Other Operating Activities	17.75	17.88	8.73	-2.06	3.44	0.25
Change in Accounts Receivable	-176.55	-183.38	-0.08	-14.62	-6.68	-21.54
Change in Inventory	-27.55	-44.17	-66.68	-23.61	-24.76	-29.34
Change in Accounts Payable	115.61	69.32	-19.91	15.09	0.19	4.03
Change in Other Net Operating Assets	-59.68	-9.04	24.99	-27.01	-7.45	-9.56
Operating Cash Flow	-49.56	-71.62	-6.42	-21.72	-12.87	-41.83
Capital Expenditures	-87.41	-89.42	-47.65	-36.07	-53.07	-17.8
Sale of Property, Plant & Equipment	0.76	0.76	0.02	-	8.61	-
Cash Acquisitions	-	-	-	-	-	0.29
Divestitures	-	-	-	0.79	-	-
Sale (Purchase) of Real Estate	-	-	-	-1.87	-	-
Investing Cash Flow	-83.14	-88.66	-47.64	-37.14	-44.46	-17.51
Short-Term Debt Issued	-	393.48	214.91	-	-	-
Long-Term Debt Issued	-	116.7	24.29	95.88	21.73	6
Total Debt Issued	605.7	510.18	239.2	95.88	21.73	6
Short-Term Debt Repaid	-	-301.37	-157.33	-	-	-
Long-Term Debt Repaid	-	-47.82	-21.12	-48.44	-2.24	-2.25
Total Debt Repaid	-460.14	-349.19	-178.45	-48.44	-2.24	-2.25
Net Debt Issued (Repaid)	145.56	160.99	60.74	47.44	19.49	3.75
Issuance of Common Stock	-	-	-	19.42	-	80.92
Other Financing Activities	-	-	-	-1.5	-0.8	-
Financing Cash Flow	145.56	160.99	60.74	65.36	18.69	84.66
Net Cash Flow	12.86	0.7	6.69	6.49	-38.63	25.32
Free Cash Flow	-136.97	-161.04	-54.07	-57.79	-65.94	-59.63
Free Cash Flow Margin	-9.36%	-13.02%	-6.71%	-9.14%	-16.38%	-38.82%
Free Cash Flow Per Share	-0.60	-0.71	-0.24	-0.23	-0.28	-0.34
Cash Interest Paid	1.94	1.63	0.36	1.5	0.8	-
Levered Free Cash Flow	-177.36	-198.44	-74.29	-69.96	-71.13	-63.61
Unlevered Free Cash Flow	-165.5	-188.44	-69.53	-67.8	-70.58	-63.49
Change in Working Capital	-148.18	-167.26	-61.68	-50.14	-38.69	-56.42

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