Annual Report 2024

Dar Al-Maal Al-Islami Trust 7 CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 December 2024 In thousands of USD 2024 2023 Cash flows from operating activities Profit for the year before income taxes and non- controlling interests 121,830 101,713 Adjustments for: Depreciation, amortisation and impairment 23,412 20,632 Interest expenses on lease liabilities 6,716 5,101 Fair value adjustments on investment carried at FVTPL (996) (1,462) Loss from associated companies 6,934 2,425 Changes in fair value of investment properties 10,740 (2,517) Gain on disposal of property and equipment (161) (81) Charge/(reversal) of allowance for impairment (8,762) (1,481) Adjusted cash flow before changes in operating assets and liabilities 159,713 124,330 Net (increase)/decrease in investments with Islamic institutions (114,539) 21,706 Net decrease/(increase) of investment securities carried at FVTPL 8,525 (15,003) Net increase in investments in financings (188,563) (52,204) Net (increase)/decrease in accounts receivable and other assets (2,494) 50,969 Net increase in development properties (1,614) (102,205) Cash at central banks - statutory reserve 3,408 (6,126) Net increase/(decrease) in accounts payable, excluding taxes 101,738 (336) Net increase in due to banks and other financial institutions 531,106 63,681 Net increase in due to customers 53,531 63,995 Cash generated from operating activities 550,811 148,807 Taxes (126,936) (76,697) Net cash generated from operating activities 423,875 72,110 Cash flows from investing activities Purchase of investment properties - (78,743) Purchase of investment securities at FVOCI (725,454) (659,210) Disposal of investment securities at FVOCI 497,450 1,536,499 Purchase of property, equipment, right-of-use assets and intangibles (51,995) (31,194) Disposal of property, equipment, right-of-use assets and intangibles 74 6,093 Net cash (used in) / generated from investing activities (279,925) 773,445 Cash flows from financing activities Dividends paid to owners of the parent (19) (27) Repayment of lease liabilities (13,017) (11,709) Net cash used in financing activities (13,036) (11,736) Net increase in cash and cash equivalents 130,914 833,819 Foreign currency translation (63,489) (842,158) Cash and cash equivalents at beginning of year 357,222 365,561 Cash and cash equivalents at end of year 5 424,647 357,222 Addition to right-of-use assets (Notes 16, 35) 17,567 8,821 Addition to lease liabilities (Notes 16, 35) 17,567 (8,821) The accompanying notes 1 to 47 are an integral part of these consolidated financial statements.