Cellcom Israel 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	564	173	134	157	27
Depreciation & Amortization	743	730	878	705	896
Other Amortization	218	214	-	125	-
Loss (Gain) From Sale of Assets	2	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	8	7
Loss (Gain) From Sale of Investments	-386	-	-	-	-
Loss (Gain) on Equity Investments	-1	16	3	1	5
Stock-Based Compensation	19	16	24	24	15
Other Operating Activities	216	155	196	192	156
Change in Accounts Receivable	38	29	-29	-34	54
Change in Inventory	46	-36	3	-29	-15
Change in Accounts Payable	-38	23	50	-57	-23
Change in Other Net Operating Assets	-208	-125	-86	-16	-70
Operating Cash Flow	1,213	1,195	1,173	1,076	1,052
Operating Cash Flow Growth	1.51%	1.88%	9.01%	2.28%	5.94%
Capital Expenditures	-406	-451	-427	-335	-366
Sale of Property, Plant & Equipment	1	-	-	-	-
Sale (Purchase) of Intangibles	-224	-214	-236	-257	-232
Investment in Securities	534	-	119	-120	407
Other Investing Activities	8	11	19	8	-1
Investing Cash Flow	-87	-654	-525	-704	-192
Short-Term Debt Issued	-	200	-	-	-
Long-Term Debt Issued	-	99	-	491	-
Total Debt Issued	-	299	-	491	-
Long-Term Debt Repaid	-715	-833	-833	-629	-812
Net Debt Issued (Repaid)	-715	-534	-833	-138	-812
Common Dividends Paid	-200	-	-	-	-
Other Financing Activities	-108	-108	-116	-105	-121
Financing Cash Flow	-1,023	-642	-949	-243	-933
Foreign Exchange Rate Adjustments	2	-1	1	-	-2
Net Cash Flow	105	-102	-300	129	-75
Free Cash Flow	807	744	746	741	686
Free Cash Flow Growth	8.47%	-0.27%	0.68%	8.02%	-1.58%
Free Cash Flow Margin	19.02%	16.74%	16.96%	17.23%	16.73%
Free Cash Flow Per Share	4.73	4.47	4.50	4.46	4.19
Cash Interest Paid	109	108	118	110	123
Cash Income Tax Paid	29	20	14	12	8
Levered Free Cash Flow	510.25	440.13	388.13	428	318.63
Unlevered Free Cash Flow	571.5	511.38	465.63	513.63	400.5
Change in Working Capital	-162	-109	-62	-136	-54

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