I.E.S Holdings 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	221.28	153.83	65.72	227.35	327.03
Depreciation & Amortization	0.04	0.04	0.04	0.04	0.03
Asset Writedown & Restructuring Costs	-162	-111	-17	-253.7	-379.93
Loss (Gain) From Sale of Investments	-48.23	-25	-8.28	-1.31	-9.91
Other Operating Activities	37.82	25.43	3.13	57.09	87.71
Change in Accounts Receivable	-0.02	1.89	-1.77	0.33	-0.38
Change in Inventory	-	-	-	-	4.72
Change in Accounts Payable	-0.19	-0.15	-0.04	0.21	0.13
Change in Other Net Operating Assets	-6.74	3.87	2.44	3.29	0.33
Operating Cash Flow	41.98	48.91	44.25	33.3	29.73
Operating Cash Flow Growth	-14.18%	10.53%	32.88%	12.04%	20.05%
Capital Expenditures	-0.04	-0.05	-0.02	-0.05	-0.04
Sale (Purchase) of Real Estate	-0.64	-	-10.62	9.32	-14.9
Investment in Securities	-29.86	-170.23	-57.14	3.96	-17.14
Other Investing Activities	-	-	-	5.81	-5.81
Investing Cash Flow	-30.53	-170.28	-67.78	19.04	-39.71
Long-Term Debt Repaid	-0.29	-0.29	-0.26	-0.24	-0.22
Total Debt Repaid	-0.29	-0.29	-0.26	-0.24	-0.22
Net Debt Issued (Repaid)	-0.29	-0.29	-0.26	-0.24	-0.22
Issuance of Common Stock	-	-	-	99.97	49.75
Repurchase of Common Stock	-39.07	-23.17	-5.84	-0.38	-1.58
Common Dividends Paid	-	-	-	-8.73	-7.9
Financing Cash Flow	-39.36	-23.45	-6.1	90.63	40.05
Foreign Exchange Rate Adjustments	-0.52	0.21	1.5	1.27	-0.65
Miscellaneous Cash Flow Adjustments	-	-	-0	-	-
Net Cash Flow	-28.43	-144.61	-28.13	144.23	29.42
Free Cash Flow	41.94	48.86	44.24	33.25	29.69
Free Cash Flow Growth	-14.16%	10.46%	33.03%	12.00%	20.41%
Free Cash Flow Margin	65.76%	88.55%	85.13%	73.26%	65.81%
Free Cash Flow Per Share	7.43	8.51	7.62	5.74	5.52
Cash Interest Paid	0.78	0.11	0.12	0.13	0.13
Cash Income Tax Paid	18.83	7.47	6.15	6.09	5.71
Levered Free Cash Flow	24.88	29.78	23.4	25.12	21.7
Unlevered Free Cash Flow	24.96	29.88	23.51	25.26	21.82
Change in Working Capital	-6.94	5.61	0.64	3.83	4.79

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