BUD:MBHJB 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	8,849	6,597	6,663	1,811	2,745
Depreciation & Amortization	63	54	88	36	28
Other Amortization	44	54	-	31	22
Gain (Loss) on Sale of Assets	-	-	-	5	-7
Gain (Loss) on Sale of Investments	1,153	-47	231	1,354	1,719
Total Asset Writedown	-1	52	-	522	-
Provision for Credit Losses	411	-15	-1,043	-	153
Change in Trading Asset Securities	1,218	-605	4,031	8,360	10,251
Change in Other Net Operating Assets	134,908	-106,580	-195,837	-154,497	-65,849
Other Operating Activities	1,726	12,167	-4,121	-11	-450
Operating Cash Flow	148,371	-88,323	-189,988	-142,389	-51,388
Capital Expenditures	-4	-40	-53	-55	-14
Sale of Property, Plant and Equipment	2	1	23	46	23
Investment in Securities	52,385	93,610	991	-	-
Purchase / Sale of Intangibles	-	-	-	-67	-17
Investing Cash Flow	52,383	93,571	961	-76	-8
Long-Term Debt Issued	15,000	140,000	210,000	142,605	50,142
Long-Term Debt Repaid	-350,445	-210,050	-17,421	-27	-16
Net Debt Issued (Repaid)	-335,445	-70,050	192,579	142,578	50,126
Issuance of Common Stock	163,801	130,306	70,967	-	-
Repurchase of Common Stock	-29,009	-83,584	-55,556	-	-
Financing Cash Flow	-200,653	-23,328	207,990	142,578	50,126
Foreign Exchange Rate Adjustments	64	24	-	-	-
Net Cash Flow	165	-18,056	18,963	113	-1,270
Free Cash Flow	148,367	-88,363	-190,041	-142,444	-51,402
Free Cash Flow Margin	1167.14%	-850.38%	-1776.75%	-2496.83%	-1090.41%
Free Cash Flow Per Share	1370.76	-816.39	-1755.79	-1316.04	-474.90
Cash Interest Paid	41,558	45,273	55,831	-	10,456
Cash Income Tax Paid	869	670	432	-	-