BUD:GRANIT Cash Flow Statement

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

Millions HUF. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2018 - 2019
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2018 - 2019
Net Income	17,740	19,216	19,892	11,390	3,893	1,617	Upgrade
Depreciation & Amortization	3,495	3,114	1,804	-987	573	473	Upgrade
Gain (Loss) on Sale of Assets	113	109	-	-9	-2	-6	Upgrade
Gain (Loss) on Sale of Investments	-3,304	3,862	-17,393	21,825	5,278	-945	Upgrade
Total Asset Writedown	-	-	-	-	-1,145	-944	Upgrade
Change in Trading Asset Securities	-69,561	-33,570	16,161	-38,764	-37,104	35,729	Upgrade
Change in Other Net Operating Assets	-333,601	-102,503	153,157	-170,940	10,881	40,935	Upgrade
Other Operating Activities	-5,430	94	516	-12,653	-1,771	-1,910	Upgrade
Operating Cash Flow	-391,100	-109,183	173,593	-192,127	-19,326	75,019	Upgrade
Capital Expenditures	-1,925	-1,925	-211	-2,289	-429	-553	Upgrade
Sale of Property, Plant and Equipment	1,382	1,377	-	13	-	-	Upgrade
Cash Acquisitions	563	563	-6,484	-	-	-	Upgrade
Investment in Securities	-37,157	-49,247	33,600	-51,870	-39,437	-113,767	Upgrade
Purchase / Sale of Intangibles	-5,975	-5,189	-2,058	-3,169	-1,024	-838	Upgrade
Other Investing Activities	3	2	61	1	-	-	Upgrade
Investing Cash Flow	-43,109	-54,419	24,908	-57,314	-40,890	-115,158	Upgrade
Long-Term Debt Repaid	-	-	-	-5,252	-	-	Upgrade
Net Debt Issued (Repaid)	-	-	-	-5,252	-	-	Upgrade
Issuance of Common Stock	45,281	47,361	930	21,266	-	7,222	Upgrade
Repurchase of Common Stock	-	-	-	-	-	-2,910	Upgrade
Net Increase (Decrease) in Deposit Accounts	120,210	274,807	211,984	265,577	54,036	48,270	Upgrade
Other Financing Activities	-	-	-	247	-	-	Upgrade
Financing Cash Flow	165,491	322,168	212,914	281,838	54,036	52,582	Upgrade
Foreign Exchange Rate Adjustments	1,626	1,626	-1,591	-	-	-	Upgrade
Net Cash Flow	-267,092	160,192	409,824	40,051	-5,646	12,442	Upgrade
Free Cash Flow	-393,025	-111,108	173,382	-194,416	-19,755	74,466	Upgrade
Free Cash Flow Margin	-715.61%	-209.97%	370.25%	-688.10%	-155.20%	892.88%	Upgrade
Free Cash Flow Per Share	-22229.92	-7047.32	11262.23	-	-1765.47	6631.48	Upgrade
Cash Interest Paid	73,360	70,682	81,923	30,260	5,816	4,274	Upgrade
Cash Income Tax Paid	2,681	3,283	3,607	1,891	660	267	Upgrade

Source: S&P Global Market Intelligence. Banks template. Financial Sources.