MULKIA REIT

Mulkia Gulf Real Estate REIT Fund

4336REITsTadawulReal Estate

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operations
Operating Cash Flow	81.35M	-33.46M	45.77M	39.85M	16.60M
Real Estate Asset Acquisitions	-216.69M	-0.60M	-227.46M	-0.73M	-206.54M
Investing & Financing
Investing Cash Flow	-224.05M	0.62M	-227.46M	-0.73M	-206.50M
Dividends Paid	-35.28M	-38.46M	-38.82M	-33.37M	-31.02M
Operating Activities
Operating Cash Flow	81.35M	-33.46M	45.77M	39.85M	16.60M
Net Income	15.14M	-11.81M	-0.11M	30.53M	18.24M
Change Accounts Payable RE	-0.74M	-96.53M	0.88M	—	—
Change Accounts Receivable RE	1.07M	-9.79M	-3.98M	-13.56M	-15.42M
Change in Working Capital	11.94M	-96.78M	-1.05M	-13.51M	-23.14M
Change Other Net Oper Assets RE	7.65M	11.87M	4.38M	-1.32M	-5.67M
Other Operating Activities RE	41.13M	35.11M	21.13M	0.14M	-2.02M
Depreciation & Amortization	20.67M	18.70M	17.97M	12.22M	11.76M
Other Amortization	0.35M	0.24M	0.22M	0.18M	2.06M
Cash Interest Paid	—	—	—	11.16M	14.87M
Asset Writedown Cfre	-14.27M	9.14M	7.17M	0.94M	3.27M
Investing Activities
Investing Cash Flow	-224.05M	0.62M	-227.46M	-0.73M	-206.50M
Invest In Securities RE	-7.70M	—	—	—	—
Other Investing Activities RE	0.34M	1.22M	—	0.01M	0.03M
Acquisition Real Estate Assets	-216.69M	-0.60M	-227.46M	-0.73M	-206.54M
Net Sale Acquisition Real Estate Assets	-216.69M	-0.60M	-227.46M	-0.73M	-206.54M
Financing Activities
Common Dividends Paid	-35.28M	-38.46M	-38.82M	-33.37M	-31.02M
Issuance of Common Stock	—	214.43M	—	—	80.60M
Long-Term Debt Issued	215.00M	—	234.79M	83.00M	342.60M
Long-Term Debt Repaid	-34.54M	-148.51M	-10.26M	-342.60M	—
Net Debt Issued (Repaid)	180.46M	-148.51M	224.53M	-259.60M	342.60M
Other Financing Activities RE	-0.75M	—	-0.82M	-0.17M	-1.10M
Free Cash Flow & Returns
Levered Free Cash Flow	29.19M	-92.88M	128.84M	29.10M	9.38M
Unlevered Free Cash Flow	54.62M	-69.68M	142.53M	34.77M	16.66M
Operating Cash Flow Growth	—	—	+14.9%	+140.1%	-50.6%
Net Cash Flow	1.73M	-5.38M	3.20M	-254.02M	201.17M

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operations
Operating Cash Flow	81.35M	-33.46M	45.77M	39.85M	16.60M
Real Estate Asset Acquisitions	-216.69M	-0.60M	-227.46M	-0.73M	-206.54M
Investing & Financing
Investing Cash Flow	-224.05M	0.62M	-227.46M	-0.73M	-206.50M
Dividends Paid	-35.28M	-38.46M	-38.82M	-33.37M	-31.02M
Operating Activities
Operating Cash Flow	81.35M	-33.46M	45.77M	39.85M	16.60M
Net Income	15.14M	-11.81M	-0.11M	30.53M	18.24M
Change Accounts Payable RE	-0.74M	-96.53M	0.88M	—	—
Change Accounts Receivable RE	1.07M	-9.79M	-3.98M	-13.56M	-15.42M
Change in Working Capital	11.94M	-96.78M	-1.05M	-13.51M	-23.14M
Change Other Net Oper Assets RE	7.65M	11.87M	4.38M	-1.32M	-5.67M
Other Operating Activities RE	41.13M	35.11M	21.13M	0.14M	-2.02M
Depreciation & Amortization	20.67M	18.70M	17.97M	12.22M	11.76M
Other Amortization	0.35M	0.24M	0.22M	0.18M	2.06M
Cash Interest Paid	—	—	—	11.16M	14.87M
Asset Writedown Cfre	-14.27M	9.14M	7.17M	0.94M	3.27M
Investing Activities
Investing Cash Flow	-224.05M	0.62M	-227.46M	-0.73M	-206.50M
Invest In Securities RE	-7.70M	—	—	—	—
Other Investing Activities RE	0.34M	1.22M	—	0.01M	0.03M
Acquisition Real Estate Assets	-216.69M	-0.60M	-227.46M	-0.73M	-206.54M
Net Sale Acquisition Real Estate Assets	-216.69M	-0.60M	-227.46M	-0.73M	-206.54M
Financing Activities
Common Dividends Paid	-35.28M	-38.46M	-38.82M	-33.37M	-31.02M
Issuance of Common Stock	—	214.43M	—	—	80.60M
Long-Term Debt Issued	215.00M	—	234.79M	83.00M	342.60M
Long-Term Debt Repaid	-34.54M	-148.51M	-10.26M	-342.60M	—
Net Debt Issued (Repaid)	180.46M	-148.51M	224.53M	-259.60M	342.60M
Other Financing Activities RE	-0.75M	—	-0.82M	-0.17M	-1.10M
Free Cash Flow & Returns
Levered Free Cash Flow	29.19M	-92.88M	128.84M	29.10M	9.38M
Unlevered Free Cash Flow	54.62M	-69.68M	142.53M	34.77M	16.66M
Operating Cash Flow Growth	—	—	+14.9%	+140.1%	-50.6%
Net Cash Flow	1.73M	-5.38M	3.20M	-254.02M	201.17M