TLV:ALHE Cash Flow Statement

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

Millions ILS. 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	7.44	-346.2	-2,392	-281.47	1,558
Depreciation & Amortization	308.4	200.67	165.27	112.41	84.95
Gain (Loss) on Sale of Investments	313.68	222.08	-1.17	-21.96	-70.07
Asset Writedown	-385.14	-607.21	926.17	-685.92	-1,715
Stock-Based Compensation	34.99	24.22	34.07	25.26	22.41
Income (Loss) on Equity Investments	94.85	569.07	1,734	993.1	-126.82
Change in Accounts Receivable	-37.93	-49.12	-2.75	-138.81	2.22
Change in Other Net Operating Assets	11.21	-24.9	-12.52	-21.77	49.77
Other Operating Activities	1,069	1,238	529.84	1,074	818.86
Operating Cash Flow	948.03	1,064	1,121	629.16	666.33
Operating Cash Flow Growth	-10.93%	-5.03%	78.13%	-5.58%	-11.67%
Acquisition of Real Estate Assets	-3,675	-2,293	-2,935	-2,290	-4,649
Sale of Real Estate Assets	186.67	333.57	-	-	-
Net Sale / Acq. of Real Estate Assets	-3,488	-1,960	-2,935	-2,290	-4,649
Cash Acquisition	-185.66	-	-	-298.06	-120.83
Investment in Marketable & Equity Securities	-76.63	-192.84	348.79	-642.76	198.78
Other Investing Activities	-58.72	251.94	-1,132	167.19	118.37
Investing Cash Flow	-3,814	-1,929	-3,784	-3,049	-4,541
Long-Term Debt Issued	5,765	2,611	5,359	3,281	4,401
Total Debt Issued	5,765	2,611	5,359	3,281	4,401
Long-Term Debt Repaid	-2,464	-2,827	-1,802	-1,545	-1,563
Net Debt Issued (Repaid)	3,301	-216.34	3,557	1,736	2,838
Issuance of Common Stock	351.26	1,004	-	294.67	28.58
Common Dividends Paid	-207.16	-138.15	-262.39	-298.15	-211.72
Other Financing Activities	258.05	-439.37	-195.18	1,200	249.21
Foreign Exchange Rate Adjustments	-97.75	5.48	35.64	23.84	-16.28
Miscellaneous Cash Flow Adjustments	-174.23	-24.3	30.81	64.88	-30.44
Net Cash Flow	564.72	-673.35	502.98	600.28	-1,051
Cash Interest Paid	764.54	593.26	559.42	404.21	343.16
Cash Income Tax Paid	261.5	77.85	59.6	384.15	68.76
Levered Free Cash Flow	-3,707	-947.81	-2,989	-2,498	-3,640
Unlevered Free Cash Flow	-3,294	-565.55	-2,691	-2,311	-3,475
Change in Working Capital	-494.84	-236.66	124.98	-585.92	94.53

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