Azrieli Group Ltd. (TLV:AZRG)

Azrieli Group Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	1,646	1,477	2,225	1,797	2,889	189
Depreciation & Amortization	23	20	70	16	20	28
Gain (Loss) on Sale of Investments	-	-	-1,213	9	-6	1
Asset Writedown	-1,082	-913	-912	-1,481	-2,441	770
Stock-Based Compensation	15	8	-	-	-	-
Income (Loss) on Equity Investments	5	5	77	73	-310	-99
Change in Accounts Receivable	-450	35	-107	42	-23	-36
Change in Accounts Payable	189	-51	1	9	11	5
Change in Other Net Operating Assets	-20	-9	1	1	1	-
Other Operating Activities	1,462	1,241	1,225	1,286	1,214	83
Operating Cash Flow	1,782	1,816	1,371	1,753	1,357	941
Operating Cash Flow Growth	8.59%	32.46%	-21.79%	29.18%	44.21%	-40.63%
Acquisition of Real Estate Assets	-2,879	-3,117	-3,709	-2,064	-1,152	-1,234
Sale of Real Estate Assets	1	31	1	3	61	10
Net Sale / Acq. of Real Estate Assets	-2,878	-3,086	-3,708	-2,061	-1,091	-1,224
Cash Acquisition	-536	-	-228	-477	-2,380	-
Investment in Marketable & Equity Securities	-73	-24	2,399	-316	433	-147
Other Investing Activities	197	187	65	44	91	209
Investing Cash Flow	-3,499	-3,139	-1,472	-2,820	-2,991	-1,172
Short-Term Debt Issued	-	-	710	-	-	-
Long-Term Debt Issued	-	4,741	3,280	4,068	3,903	1,672
Total Debt Issued	6,538	4,741	3,990	4,068	3,903	1,672
Short-Term Debt Repaid	-	-90	-	-561	-9	-350
Long-Term Debt Repaid	-	-2,092	-1,151	-938	-1,186	-740
Total Debt Repaid	-2,446	-2,182	-1,151	-1,499	-1,195	-1,090
Net Debt Issued (Repaid)	4,092	2,559	2,839	2,569	2,708	582
Common Dividends Paid	-800	-1,000	-700	-650	-600	-300
Other Financing Activities	-703	-484	-455	-352	-216	-234
Foreign Exchange Rate Adjustments	-98	-34	-72	18	-18	-11
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	-2
Net Cash Flow	774	-282	1,511	518	240	-196
Cash Interest Paid	708	485	455	355	220	227
Cash Income Tax Paid	154	151	204	29	82	123
Levered Free Cash Flow	-555	581.25	111.63	1,059	979.13	282
Unlevered Free Cash Flow	230	1,198	653.5	1,685	1,253	352
Change in Working Capital	-287	-22	-101	53	-9	-31

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.