Carasso Real Estate 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	15.42	119.08	15.89	109.21	78.63
Depreciation & Amortization	2.37	2.85	2.73	1.62	1.78
Loss (Gain) From Sale of Assets	-0.27	-0.21	-0.38	-0.19	-0.27
Asset Writedown & Restructuring Costs	-62.58	-166.38	-12.67	-107.54	-125.63
Loss (Gain) on Equity Investments	-2.09	-7.52	-1.76	-26.14	0.81
Stock-Based Compensation	2.53	6.26	9.51	6.88	-
Other Operating Activities	49.88	78.14	0.44	54.62	62.77
Change in Accounts Receivable	-20.29	-21.25	-81.72	40.8	21.28
Change in Inventory	-249.11	-229.76	-98.54	-15.35	24.06
Change in Accounts Payable	9.69	1.48	-13.82	19.56	1.88
Change in Unearned Revenue	23.73	51.44	-99.57	15.32	105.95
Change in Other Net Operating Assets	-165.49	-45.64	-71.51	-5.73	6.69
Operating Cash Flow	-396.2	-211.48	-351.39	93.07	177.94
Operating Cash Flow Growth	-	-	-	-47.70%	-
Capital Expenditures	-1.84	-3.1	-5.92	-2.04	-2.14
Sale of Property, Plant & Equipment	0.92	0.75	1.29	0.67	0.98
Sale (Purchase) of Real Estate	-35.12	-103.6	-225.68	-27.09	-31.12
Investment in Securities	-17.5	-12.68	-8.97	-103.68	24.68
Investing Cash Flow	-46.73	-238.58	-134.9	-190.14	-49.22
Short-Term Debt Issued	200.15	34.07	94.74	-	-
Long-Term Debt Issued	409.72	409.89	413.75	296.68	77.81
Total Debt Issued	609.87	443.96	508.49	296.68	77.81
Short-Term Debt Repaid	-	-	-	-82.04	-121.55
Long-Term Debt Repaid	-205.62	-47.67	-68.59	-84	-77.31
Total Debt Repaid	-205.62	-47.67	-68.59	-166.05	-198.86
Net Debt Issued (Repaid)	404.25	396.29	439.89	130.64	-121.05
Issuance of Common Stock	129.69	-	-	161.48	-
Common Dividends Paid	-60.8	-	-20	-	-
Financing Cash Flow	473.13	396.29	419.89	292.12	-121.05
Net Cash Flow	30.21	-53.78	-66.4	195.04	7.68
Free Cash Flow	-398.04	-214.58	-357.31	91.03	175.79
Free Cash Flow Growth	-	-	-	-48.22%	-
Free Cash Flow Margin	-76.66%	-43.15%	-80.51%	14.72%	30.35%
Free Cash Flow Per Share	-6.91	-3.89	-6.60	1.88	4.35
Cash Interest Paid	130.04	100.59	84.55	37.36	39.89
Cash Income Tax Paid	1.7	-0.21	0.8	0.85	9.12
Levered Free Cash Flow	-387.22	-178.71	-377.52	149.76	71.76
Unlevered Free Cash Flow	-275.15	-94.23	-323.13	189.44	100.87
Change in Working Capital	-401.45	-243.72	-365.15	54.6	159.85

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.