Annual Report 2024

Dar Al-Maal Al-Islami Trust NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 in thousands of USD 52 34.Non-controlling interests (continued) The following table summarises the non-controlling shareholders' interests in the equity of consolidated subsidiaries: 2024 2023 Name of the subsidiary Principal place of business Non-controlling Non-controlling Ithmaar Holding B.S.C. and wholly owned subsidiaries Kingdom of Bahrain (7,085) 53 (8,975) 53 Faysal Bank Limited Pakistan 134,654 33 127,180 33 Gulf Investors Asset Management Kingdom of Saudi Arabia 2,460 27 2,562 27 Health Island B.S.C. (C) Kingdom of Bahrain 21,806 50 20,436 50 Cityview Real Estate Development B.S.C. (C) Kingdom of Bahrain (252) 49 (3,181) 49 Sakana Holistic Housing Solutions B.S.C. (C) Kingdom of Bahrain 138 50 1,618 50 Barbar Real Estate Company WLL Kingdom of Bahrain 332 50 332 50 152,053 139,972 The non-controlling interest appropriation in the consolidated statement of income of US dollars 19.1 million represents the non-controlling shareholders' share of the profit of these subsidiaries for 2024 (2023: US dollars 23.5 million profit). Summarised financial information on subsidiaries with material non-controlling interests. Set out below are the summarised financial information for a significant subsidiary that has non-controlling interests that are material to the Group. Ithmaar Holding B.S.C. Year ended 31 December Summarised Balance Sheet 2024 2023) Assets 6,847,423 6,104,574 Liabilities 6,666,557 5,942,435 Net assets 180,866 162,139 Summarised Income Statement 2024 2023 Income 910,311 732,546 Gain before income tax 124,977 83,548 Income tax expense (91,258) (70,193) Post-tax gain / (loss) 33,719 13,355 Other comprehensive income/(loss) (3,366) (870) Total comprehensive income 16,759 12,485 Total comprehensive income allocated to non-controlling interests (9,866) 12,719 Summarised Cash Flows 2024 2023 Operating loss before changes in operating assets and liabilities (279,841) (237,611) Net cash generated from operations 145,342 234,915 Net increase / (decrease) in investments 124,902 (188,156) Taxes paid (58,710) (62,794) Foreign currency translation adjustments 431 (9,326) Net increase / (decrease) in cash and cash equivalents 180,664 (7,122) Cash and cash equivalents at beginning of year 334,639 341,761 Cash and cash equivalents at end year 515,303 334,639 The information above is the amount before intercompany eliminations and consolidation adjustments.