Page 46 - JTC-Annual Report-2025-Eng

JTC Logistics Transportation & Stevedoring Company K.S.C.P
CONSOLIDATED STATEMENT OF CASH FLOWS
For the year ended December 31, 2025

(All amounts are in Kuwaiti Dinars)

Note 2025 2024
Cash flows from operating activities:

Profit for the year before contribution to KFAS, NLST,
Zakat and Board of Directors’ remuneration 7,580,673 7,127,388
Adjustments for:
Depreciation 6 5,804,172 5,313,560

Property and equipment written off 6 1,117 -
Gain on early termination of right-of-use assets 19 (151) -
Amortization on right-of-use assets 7 673,060 650,447
Changes in fair value of investment properties 8 (a) (192,340) (562,032)

Allowance for expected credit losses charge (no longer
required) 4 (b) 97,123 (272,940)
Provision for slow-moving and obsolete inventories 5 (a) 8,410 -
Inventories written off 5 (a) 110 20,770

Dividend income 19 (17,215) (14,569)
Interest income 19 (100,926) (232,798)
Domestic Minimum Top-Up Tax 18, 20 451,760 -
Provision for legal case 24 - 514,991
Accrued expenses written back 19 - (115,033)

Gain on disposal of property and equipment 19 (66,076) (254,616)
Foreign exchange gain 19 (924) (47,932)
Finance charges 457,644 427,446
Provision for end of service indemnity 12 295,051 326,459

14,991,488 12,881,141
Changes in operating assets and liabilities:
Inventories (31,619) (139,603)
Accounts receivable and other debit balances (1,861,611) (420,315)
Accounts payable and other credit balances 163,576 1,210,932

Cash flows generated from operations 13,261,834 13,532,155
Payment of provision for end of service indemnity 12 (178,506) (96,416)
KFAS paid 20 (62,962) (58,867)
NLST paid (287,650) (147,167)

Zakat paid (132,709) (58,867)
Board of Directors’ remuneration paid (41,000) (36,000)
Net cash flows generated from operating activities 12,559,007 13,134,838

The accompanying notes from (1) to (28) form an integral part of the consolidated financial statements.

44 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.