BUD:BIF Cash Flow Statement

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

Millions HUF. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	10,935	10,913	10,592	10,062	8,288
Depreciation & Amortization	141.11	98.94	59.41	61.53	38.14
Other Adjustments	-3,340	-3,104	-5,517	-2,102	-5,646
Change in Receivables	-430.1	-261.93	49.2	-221.81	136.59
Changes in Accounts Payable	418.75	532.49	-593.01	-760.28	-314.87
Changes in Income Taxes Payable	-91.26	-95.99	-24.12	-28.12	-18.69
Changes in Other Operating Activities	729.37	2,158	731.16	2,212	1,103
Operating Cash Flow	7,945	9,795	4,863	8,902	3,360
Operating Cash Flow Growth	-18.88%	101.42%	-45.37%	164.96%	-15.57%
Capital Expenditures	-1,768	-4,901	-1,655	-6,324	-5,826
Sale of Property, Plant & Equipment	23.6	12.15	0.89	5.45	576.1
Other Investing Activities	811.4	-1,680	0	-	-
Investing Cash Flow	-933.07	-6,569	-1,655	-6,318	-5,250
Long-Term Debt Issued	0	94.5	257.49	2,386	1,452
Long-Term Debt Repaid	-1,501	-1,447	-1,447	-1,348	-909.01
Net Long-Term Debt Issued (Repaid)	-1,501	-1,352	-1,189	1,038	542.97
Common Dividends Paid	-2,752	0	-8,809	-5,034	0
Other Financing Activities	-304.83	5,690	4,565	-321.54	-226.17
Financing Cash Flow	-4,558	4,338	-4,998	-3,996	542.97
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-13.28	42.84	-4.35	-4.86	6.99
Net Cash Flow	2,441	7,607	-1,794	-1,418	-1,341
Free Cash Flow	6,177	4,894	3,207	2,578	-2,467
Free Cash Flow Growth	26.22%	52.58%	24.44%	-	-
FCF Margin	33.36%	29.59%	22.16%	19.75%	-23.32%
Free Cash Flow Per Share	22.44	18.27	12.71	10.24	-9.80
Levered Free Cash Flow	8,746	7,243	7,897	6,232	3,695
Unlevered Free Cash Flow	9,868	8,358	8,870	4,880	3,211