KWSE:AZNOULA Cash Flow Statement

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

Millions KWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2019 - 2015
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2019 - 2015
Net Income	13.7	9.21	12.6	14.46	13.54	12.27	Upgrade
Depreciation & Amortization	0.05	0.05	0.04	0.03	0.03	0.05	Upgrade
Loss (Gain) on Sale of Assets	-0	0	-0.01	-0.01	0	-0	Upgrade
Change in Accounts Receivable	-1.31	3.04	-4.92	4.82	-5.59	5.43	Upgrade
Change in Accounts Payable	-0.37	1.32	-0.61	-1.15	0.2	-4.26	Upgrade
Change in Other Net Operating Assets	15.08	15.06	12.23	13.48	11.49	11.15	Upgrade
Other Operating Activities	19.13	22.14	22.62	19.03	19.26	21.89	Upgrade
Operating Cash Flow	46.28	50.82	41.96	50.81	38.93	46.54	Upgrade
Operating Cash Flow Growth	-11.47%	21.12%	-17.42%	30.51%	-16.34%	25.67%	Upgrade
Capital Expenditures	-0.2	-0.24	-0.05	-0.17	-0.08	-0.01	Upgrade
Sale of Property, Plant & Equipment	0	0	0.01	0.01	0	0	Upgrade
Investing Cash Flow	-0.2	-0.24	-0.04	-0.16	-0.08	-0.01	Upgrade
Long-Term Debt Repaid	-	-16.64	-16.65	-17.6	-16.39	-16.24	Upgrade
Net Debt Issued (Repaid)	-18.3	-16.64	-16.65	-17.6	-16.39	-16.24	Upgrade
Common Dividends Paid	-7.28	-5.47	-10.49	-19.34	-23	-22.54	Upgrade
Other Financing Activities	-18.37	-21.57	-21.98	-18.37	-18.67	-21.97	Upgrade
Financing Cash Flow	-43.95	-43.69	-49.12	-55.3	-58.06	-60.74	Upgrade
Foreign Exchange Rate Adjustments	0.06	0.58	0.18	-0.06	-0.03	-0.17	Upgrade
Net Cash Flow	2.2	7.47	-7.02	-4.71	-19.24	-14.39	Upgrade
Free Cash Flow	46.08	50.58	41.91	50.64	38.85	46.52	Upgrade
Free Cash Flow Growth	-11.71%	20.67%	-17.23%	30.35%	-16.50%	26.09%	Upgrade
Free Cash Flow Margin	90.56%	103.93%	79.62%	96.01%	77.47%	90.52%	Upgrade
Free Cash Flow Per Share	0.04	0.05	0.04	0.05	0.04	0.04	Upgrade
Cash Interest Paid	18.37	21.57	21.98	18.37	18.67	21.97	Upgrade
Levered Free Cash Flow	2.81	7.55	-2.03	13.6	2.81	16.96	Upgrade
Unlevered Free Cash Flow	14.32	21.06	11.71	25.05	14.42	30.43	Upgrade
Change in Working Capital	13.4	19.42	6.71	17.15	6.11	12.32	Upgrade

Source: S&P Capital IQ. Utility template. Financial Sources.