MSM:MSPW Cash Flow Statement

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

Millions OMR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
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	2020 - 2016
Net Income	2.36	2.39	1.94	2.65	3.1	Upgrade
Depreciation & Amortization	2.01	2.01	2.01	2	1.99	Upgrade
Other Amortization	-	-	-	-	0.07	Upgrade
Change in Accounts Receivable	-0.1	-0.01	22.35	-4.6	-6.31	Upgrade
Change in Inventory	-1.48	1.13	0.18	-0.04	-0.22	Upgrade
Change in Accounts Payable	0.6	0.23	-19.7	2.96	5.75	Upgrade
Other Operating Activities	3.16	3.4	3.44	3.52	3.52	Upgrade
Operating Cash Flow	6.56	9.14	10.22	6.49	7.89	Upgrade
Operating Cash Flow Growth	-28.22%	-10.65%	57.59%	-17.76%	159.00%	Upgrade
Capital Expenditures	-0.78	-0.11	-0.04	-0.03	-0.1	Upgrade
Investing Cash Flow	-0.78	-0.11	-0.04	-0.03	-0.1	Upgrade
Long-Term Debt Issued	6	4	3.5	10.5	7.5	Upgrade
Total Debt Issued	6	4	3.5	10.5	7.5	Upgrade
Long-Term Debt Repaid	-7.63	-7.97	-9.76	-12.13	-8.74	Upgrade
Total Debt Repaid	-7.63	-7.97	-9.76	-12.13	-8.74	Upgrade
Net Debt Issued (Repaid)	-1.63	-3.97	-6.26	-1.63	-1.24	Upgrade
Common Dividends Paid	-1.94	-1.94	-1.94	-2.1	-1.94	Upgrade
Other Financing Activities	-2.63	-2.81	-3	-2.92	-2.95	Upgrade
Financing Cash Flow	-6.2	-8.72	-11.2	-6.64	-6.13	Upgrade
Net Cash Flow	-0.42	0.31	-1.01	-0.19	1.65	Upgrade
Free Cash Flow	5.78	9.03	10.18	6.46	7.79	Upgrade
Free Cash Flow Growth	-35.96%	-11.34%	57.73%	-17.09%	159.17%	Upgrade
Free Cash Flow Margin	29.76%	48.90%	54.37%	34.95%	42.84%	Upgrade
Free Cash Flow Per Share	0.08	0.13	0.14	0.09	0.11	Upgrade
Cash Interest Paid	2.63	2.81	3	2.92	2.95	Upgrade
Levered Free Cash Flow	2.07	5.08	6.23	2.3	3.46	Upgrade
Unlevered Free Cash Flow	3.76	6.87	8.14	4.18	5.28	Upgrade
Change in Working Capital	-0.98	1.34	2.83	-1.67	-0.79	Upgrade

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