Issue link: http://itf.uberflip.com/i/1547012
CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 December 2025 Note(s) 2025 $000 2024 $000 Cash flows from operating activities Loss for the year before taxation (12,305) (9,612) Adjustments for: Non cash item of joint venture share of losses 2,154 2,526 Depreciation and amortisation 24, 25, 29 2,776 1,864 Increase in value of investments 21 (2,756) (1,142) Gain on sale of investments 21 (1,342) (917) Financial income 22 (138) (3) Foreign exchange gain / loss (1,041) 259 Impairment of investment in joint venture 27 5,893 (6,759) (7,025) Decrease in trade and other receivables 31 6,402 18,642 Decrease in inventories 30 32 38 Increase / (decrease) in trade and other payables 34 3,201 (12,089) Increase in contract liabilities 36 9,370 9,346 Decrease in provisions (200) - 12,046 8,912 Interest received 9 3 Tax paid (7) (49) Net cash generated from / (used in) operating activities 12,048 8,866 Cash flows from investing activities Proceeds from sale of investments 2,728 4,152 Acquisition of investments - (3,890) Loan to joint venture (1,280) - Interest received 129 - Acquisition of intangible assets 24 (2,773) (3,065) Acquisition of property, plant and equipment 25 (124) (259) Purchase of short term investments (Olympics) - (31) Investment in joint venture 27 (2,400) (2,400) Net cash in investing activities (3,720) (5,493) Cash flows from financing activities Principal elements of lease payments 43 (261) - Net cash used in financing activities (261) - Net increase / (decrease) in cash and cash equivalents 8,067 3,373 Cash and cash equivalents at 1 January 9,105 5,990 Effects of exchange rate fluctuations on cash held 1,041 (259) Cash and cash equivalents at 31 December 18,212 9,105 Being: Cash at bank and in hand per the balance sheet 12,168 8,861 Other short term deposits and investments 32 6,044 244 Cash and cash equivalents at 31 December 18,212 9,105 The notes on pages 18 to 43 are an integral part of these consolidated financial statements. ITF Trust Annual Report and Consolidated Financial Statements 17