BUD:ORMESTER 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	20.62	69.1	72.07	80.32	80.95
Depreciation & Amortization	43.44	33.66	33.38	37.82	36.66
Other Operating Activities	19.52	20.63	24.43	5.28	-19.2
Change in Accounts Receivable	141.36	6.84	-178.97	-128.04	-137.1
Change in Inventory	-0.02	0.03	0.21	0.67	0.95
Change in Accounts Payable	-176.24	20.91	307.35	20.93	194.97
Change in Income Taxes	-3.14	0.92	-0.92	-	3.88
Change in Other Net Operating Assets	10	4.46	-1.48	2.08	1.14
Operating Cash Flow	55.62	155.78	256.06	19.06	162.26
Operating Cash Flow Growth	-64.30%	-39.16%	1243.29%	-88.25%	194.44%
Capital Expenditures	-7.78	-43.49	-60.66	-33.39	-40.53
Sale of Property, Plant & Equipment	-	20.86	0.37	0.26	0.2
Investing Cash Flow	-7.78	-22.63	-60.29	-33.13	-40.33
Long-Term Debt Issued	-	16.48	39.77	29.02	0.25
Long-Term Debt Repaid	-27.44	-24.87	-21.86	-21.75	-7.2
Net Debt Issued (Repaid)	-27.44	-8.38	17.91	7.27	-6.96
Other Financing Activities	-4.63	-3.79	-3.22	-1.3	-0.26
Financing Cash Flow	-32.07	-12.17	14.7	5.97	-7.22
Net Cash Flow	15.77	120.99	210.47	-8.09	114.71
Free Cash Flow	47.84	112.29	195.4	-14.33	121.72
Free Cash Flow Growth	-57.40%	-42.53%	-	-	141.66%
Free Cash Flow Margin	1.47%	3.12%	5.91%	-0.55%	6.55%
Free Cash Flow Per Share	19.50	45.78	79.67	-5.84	49.63
Cash Interest Paid	4.63	3.79	3.22	1.3	0.26
Cash Income Tax Paid	16.74	19.12	18.64	12.64	12.03
Levered Free Cash Flow	36.02	101.35	176.73	-37.65	99.23
Unlevered Free Cash Flow	38.92	103.71	178.74	-36.84	99.39
Change in Working Capital	-27.96	32.38	126.18	-104.36	63.84