Cellcom Israel Cash Flow Statement

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 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	255	173	134	157	27	-170
Depreciation & Amortization	791	784	733	705	896	924
Other Amortization	160	160	145	125	-	-
Loss (Gain) From Sale of Assets	2	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	8	7	7
Loss (Gain) on Equity Investments	3	16	3	1	5	14
Stock-Based Compensation	15	16	24	24	15	20
Other Operating Activities	164	155	196	192	156	128
Change in Accounts Receivable	18	29	-29	-34	54	125
Change in Inventory	4	-36	3	-29	-15	-7
Change in Accounts Payable	16	23	50	-57	-23	53
Change in Other Net Operating Assets	-178	-125	-86	-16	-70	-101
Operating Cash Flow	1,250	1,195	1,173	1,076	1,052	993
Operating Cash Flow Growth	8.22%	1.88%	9.01%	2.28%	5.94%	-4.15%
Capital Expenditures	-416	-451	-427	-335	-366	-296
Sale of Property, Plant & Equipment	1	-	-	-	-	-
Cash Acquisitions	-	-	-	-	-	-608
Sale (Purchase) of Intangibles	-219	-214	-236	-257	-232	-203
Investment in Securities	14	-	119	-120	407	86
Other Investing Activities	6	11	19	8	-1	6
Investing Cash Flow	-614	-654	-525	-704	-192	-1,015
Short-Term Debt Issued	-	200	-	-	-	-
Long-Term Debt Issued	-	99	-	491	-	583
Total Debt Issued	133	299	-	491	-	583
Long-Term Debt Repaid	-	-833	-833	-629	-812	-857
Net Debt Issued (Repaid)	-583	-534	-833	-138	-812	-274
Issuance of Common Stock	-	-	-	-	-	140
Other Financing Activities	-107	-108	-116	-105	-121	-131
Financing Cash Flow	-690	-642	-949	-243	-933	-265
Foreign Exchange Rate Adjustments	2	-1	1	-	-2	-
Net Cash Flow	-52	-102	-300	129	-75	-287
Free Cash Flow	834	744	746	741	686	697
Free Cash Flow Growth	10.03%	-0.27%	0.68%	8.02%	-1.58%	-2.11%
Free Cash Flow Margin	19.45%	16.74%	16.96%	17.23%	16.73%	18.96%
Free Cash Flow Per Share	5.00	4.47	4.50	4.46	4.19	4.53
Cash Interest Paid	108	108	118	110	123	130
Cash Income Tax Paid	25	20	14	12	8	9
Levered Free Cash Flow	479.63	440.13	388.13	428	318.63	582.75
Unlevered Free Cash Flow	542.13	511.38	465.63	513.63	400.5	658.38
Change in Working Capital	-140	-109	-62	-136	-54	70

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