TLV:AZRM 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	240.18	162.68	176.4	171.54	322.03
Depreciation & Amortization	1.93	2.01	2.44	2.74	3.02
Loss (Gain) From Sale of Assets	-	0.08	-136.77	-76.8	-
Asset Writedown & Restructuring Costs	-107.09	-	-	-	-126.64
Loss (Gain) From Sale of Investments	5.05	-5.86	51.15	0.11	1.57
Loss (Gain) on Equity Investments	1.36	12.94	31.74	-10.66	-87.96
Stock-Based Compensation	0.62	-1.31	3.05	3.54	-
Other Operating Activities	192.07	138.6	130.28	55.65	129.28
Change in Accounts Receivable	15.85	16.9	4.17	-14.73	-0.1
Change in Inventory	-1,188	-728.7	-686.02	-16.15	844.91
Change in Accounts Payable	-21.35	84.05	-17.78	53.47	-34.06
Change in Other Net Operating Assets	50.47	-46.18	-158.12	-455.54	-234.52
Operating Cash Flow	-809.07	-364.78	-599.46	-286.83	817.54
Operating Cash Flow Growth	-	-	-	-	103.27%
Sale (Purchase) of Real Estate	-50.69	-224.4	-219.94	-232.91	-145.25
Investment in Securities	38.85	4.13	73.21	38.41	-2.27
Other Investing Activities	242.68	162.08	490.06	-224.77	-673.84
Investing Cash Flow	206.54	-75.64	324.21	-448.48	-831.69
Short-Term Debt Issued	477.09	539.38	252.64	-	15.11
Long-Term Debt Issued	1,040	395.49	391.09	812.91	648.47
Total Debt Issued	1,517	934.87	643.73	812.91	663.58
Short-Term Debt Repaid	-	-	-	-30.86	-
Long-Term Debt Repaid	-703.65	-268.6	-375.87	-170.49	-310.2
Total Debt Repaid	-703.65	-268.6	-375.87	-201.35	-310.2
Net Debt Issued (Repaid)	813.37	666.28	267.87	611.56	353.38
Common Dividends Paid	-40	-	-	-40	-
Other Financing Activities	-224.09	-156.72	-145.17	-70.9	-58.46
Financing Cash Flow	549.28	509.56	122.7	500.66	294.92
Foreign Exchange Rate Adjustments	-3.27	0.15	0.79	1.92	-1.72
Net Cash Flow	-56.52	69.29	-151.76	-232.73	279.05
Cash Interest Paid	-	156.72	145.17	70.9	58.46
Cash Income Tax Paid	-	23.77	10.41	56.45	-13.97
Levered Free Cash Flow	-686.66	-601.72	-483.28	-46.59	637.69
Unlevered Free Cash Flow	-553.83	-511.83	-412.54	0.39	670.71
Change in Working Capital	-1,143	-673.93	-857.75	-432.95	576.23

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