BUD:BET Cash Flow Statement

Financials in millions HUF. Fiscal year is January - December.

Millions HUF. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	8,956	8,692	6,190	6,462	-231	1,556
Depreciation & Amortization	276	284	311	332	316	292
Other Adjustments	-7,367	-7,189	-5,098	-5,450	1,430	-916
Change in Receivables	-215	339	719	-585	-397	-110
Changes in Inventories	-	-10	4	3	-	-
Changes in Accounts Payable	-160	-187	-69	-69	102	-96
Changes in Income Taxes Payable	-129	-129	-171	-258	-40	-4
Changes in Other Operating Activities	-	-470	-188	-128	190	84
Operating Cash Flow	1,479	1,330	1,698	307	1,371	806
Operating Cash Flow Growth	20.73%	-21.67%	453.09%	-77.61%	70.10%	22.68%
Purchases of Intangible Assets	-271	-223	-177	-248	-417	-176
Proceeds from Sale of Intangible Assets	-	17	0	8	-	-
Purchases of Investments	-	-1	-2	-1	-	-
Proceeds from Sale of Investments	-	-	-	-	0	577
Other Investing Activities	482	1,281	3,610	740	118	111
Investing Cash Flow	1,048	1,074	3,431	500	-299	512
Issuance of Common Stock	-	-	-	125	-	-
Net Common Stock Issued (Repurchased)	-	-	-	125	-	-
Common Dividends Paid	-	-671	-606	-552	-503	0
Other Financing Activities	-36	-146	-142	-132	-144	-132
Financing Cash Flow	-798	-817	-748	-559	-647	-132
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-99	-131	110	-37	61	10
Net Cash Flow	1,729	1,587	4,381	247	425	1,186
Free Cash Flow	1,479	1,330	1,698	307	1,371	806
Free Cash Flow Growth	11.20%	-21.67%	453.09%	-77.61%	70.10%	22.68%
FCF Margin	110.21%	30.77%	45.55%	8.59%	37.41%	26.37%
Free Cash Flow Per Share	273.21	245.68	313.66	56.71	253.26	148.87
Levered Free Cash Flow	8,943	8,180	6,077	5,721	355	1,701
Unlevered Free Cash Flow	-1,653	883	958	811.02	-3,352	988.04