Cash Flow Statement Summary
ARDCO’s Operating Sectors Information on each sector relates to the ARDCO’s scope and business , which we relied on to prepare our financial information ARDCO’s markets and centers are divided into • Public good services sector , including AlAziziyah Fruits & Vegetable Market • Commercial centers sector includes Riyadh Market , Public Transportation Center , AlTameer Wholesale Center , Oteiqah Central Market , AlBatha Meat and Vegetable Market , AlTameer International Car Auction , and an office building • Land Sales sector Company Sector Profits
Mn SAR Year Ending December 31
Percentage Change
All amounts in millions unless stated otherwise
2023
2022
Net cash generated from operating activities Net cash used in investment activities
226
112
101% 212%
149
-133
Net cash used in finance activities
-95
-1
9400% 800%
Cash and cash equivalents at the end of the year
314
35
* Deposits due within 3 months from the date of deposit , amounting to 270 million Saudi riyals , were classified under cash and cash equivalents
Total net income from principal activities
Cash Flow Net cash generated from operating activities amounted to 226 Mn SAR for the year ending December 31 , 2023 , compared to 112 Mn in 2022 The increase of 114 Mn reflects the increase in operating revenues resulting from increased occupancy rates in ARDCO’s markets and centers , in addition to a significant improvement in collection levels in 2023 Net cash used in investment activities amounted to 121 Mn SAR for the year ending December 31 , 2023 , compared to 132 Mn in 2022 Net cash used in finance activities amounted to 95 Mn SAR for the year ending December 31 , 2023 , compared to 1 Mn in 2022 The difference is mainly due to the reduction of capital from the company’s share in Tanal in 2022
167 (Mn SAR)
213 (Mn SAR)
110
102
65
65
38
2022
2023
Lands
Commercial Centers
Public benefit
273
226
112
92
2022
2023
Cash flows from operating activities
Estimated cash flow from TANAL
30
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