BUD:SUNDELL 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
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
Net Income	1,386	548.21	2,946	3,612	4,088	3,010
Depreciation & Amortization	5.97	4.45	3.33	1.91	0.54	4.46
Asset Writedown & Restructuring Costs	-1,094	-1,683	-1,179	-2,158	-2,111	-2,741
Other Operating Activities	-721.07	1,168	792.42	-245.8	-1,632	-273.49
Change in Accounts Receivable	13.34	1,213	-1,058	-1,252	308.24	-34.03
Change in Inventory	-1,981	-191.47	7,426	5,119	-1,627	-97.55
Change in Accounts Payable	66.63	-23.31	-148.02	469.17	-98.13	-28.24
Change in Unearned Revenue	25,673	7,137	-3,233	-2,669	3,212	-897.81
Change in Other Net Operating Assets	-16,743	-1,769	-1,325	-116.8	-3,174	-2,314
Operating Cash Flow	6,607	6,404	4,225	2,761	-1,034	-3,371
Operating Cash Flow Growth	47.42%	51.58%	52.99%	-	-	-
Capital Expenditures	-5,453	-3,089	-2,382	-14,040	-834.82	-0.01
Sale of Property, Plant & Equipment	-	-	1,833	28.53	-	-
Cash Acquisitions	-	-	-	-	-302.45	-650
Sale (Purchase) of Real Estate	-	-	-	-	-	-5,100
Investing Cash Flow	-5,453	-3,089	-549.18	-14,011	-1,137	-5,750
Long-Term Debt Issued	-	2,927	2,005	468.76	5,593	11,129
Long-Term Debt Repaid	-	-444.5	-1,560	-245	-530	-6,315
Net Debt Issued (Repaid)	1,705	2,483	444.5	223.76	5,063	4,813
Issuance of Common Stock	-	-	-	12,236	-	1,950
Repurchase of Common Stock	-	-	-	-	-2,581	-
Common Dividends Paid	-1,790	-3,222	-3,600	-2,629	-	-
Other Financing Activities	-574.27	-589.4	-609.67	-562.29	-	-122.72
Financing Cash Flow	-659.62	-1,329	-3,765	9,269	2,481	6,641
Foreign Exchange Rate Adjustments	14.71	-	7.89	-	-	-
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	549.99
Net Cash Flow	508.95	1,986	-81.82	-1,981	310.41	-1,931
Free Cash Flow	1,154	3,315	1,843	-11,278	-1,869	-3,371
Free Cash Flow Growth	-53.93%	79.91%	-	-	-	-
Free Cash Flow Margin	13.23%	31.74%	8.85%	-71.65%	-22.01%	-72.34%
Free Cash Flow Per Share	805.76	2314.96	1286.70	-8226.56	-1563.68	-3314.83
Cash Interest Paid	574.27	589.4	609.67	562.29	-	122.72
Cash Income Tax Paid	211.08	14.71	7.03	0.01	0.12	-
Levered Free Cash Flow	-11,360	662.62	-8,832	-8,603	-12,474	-5,263
Unlevered Free Cash Flow	-11,256	775.05	-8,642	-8,599	-12,468	-5,102
Change in Working Capital	7,030	6,366	1,662	1,551	-1,379	-3,371

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