Mediterranean Towers 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	310.94	267.11	220.58	120.92	296.67	-12.74
Depreciation & Amortization	4.99	5.09	1.16	15.25	1.98	1.81
Asset Writedown & Restructuring Costs	-463.45	-403.62	-367.34	-313.23	-501.9	9.27
Loss (Gain) From Sale of Investments	0.92	0.02	-0.11	13.29	-1.82	-5.58
Stock-Based Compensation	7.36	6.36	0.3	0.55	0.67	0.92
Other Operating Activities	130.13	127.05	125.82	128.2	167.39	-13.05
Change in Accounts Receivable	-1.36	-5.86	-0.84	-2.64	-1.06	-0.35
Change in Accounts Payable	6.76	-0.79	-10.29	4.27	5.04	-4.15
Change in Other Net Operating Assets	218.61	95.41	37.52	145.91	210.27	66.64
Operating Cash Flow	214.9	90.76	6.8	112.52	177.24	42.77
Operating Cash Flow Growth	150.36%	1234.36%	-93.95%	-36.51%	314.37%	-73.64%
Capital Expenditures	-0.13	-0.13	-0.41	-0.85	-0.7	-1.35
Sale (Purchase) of Real Estate	-636.45	-145.44	-146.01	-222.51	-53.62	-50.11
Investment in Securities	-	-	66	-70.25	-0.06	-1.11
Other Investing Activities	-156.32	89.17	-127.46	22.77	4.78	14.55
Investing Cash Flow	-792.91	-56.41	-207.88	-270.83	-49.6	-38.02
Long-Term Debt Issued	-	58	448.48	-	-	359.06
Total Debt Issued	876.72	58	448.48	-	-	359.06
Long-Term Debt Repaid	-	-0.56	-144.16	-2.07	-1.98	-104.39
Total Debt Repaid	-404.2	-0.56	-144.16	-2.07	-1.98	-104.39
Net Debt Issued (Repaid)	472.52	57.44	304.33	-2.07	-1.98	254.67
Common Dividends Paid	-100	-80	-60	-80	-80	-
Other Financing Activities	124.82	-24.7	-24.68	-24.83	-24.24	-26.16
Financing Cash Flow	497.34	-47.26	219.65	-106.9	-106.22	228.51
Net Cash Flow	-80.67	-12.9	18.57	-265.21	21.42	233.26
Free Cash Flow	214.77	90.63	6.39	111.67	176.54	41.42
Free Cash Flow Growth	150.32%	1318.07%	-94.28%	-36.74%	326.18%	-74.33%
Free Cash Flow Margin	79.31%	35.94%	2.65%	47.66%	82.84%	20.05%
Free Cash Flow Per Share	1.42	0.60	0.04	0.74	1.17	0.28
Cash Interest Paid	31.18	24.7	24.68	20.63	20.68	20.38
Cash Income Tax Paid	0.21	0.16	0.16	0.19	0.13	0.19
Levered Free Cash Flow	11.43	193.39	-33.47	89.86	339.25	-180.48
Unlevered Free Cash Flow	35.98	210.04	-19	104.06	354.28	-166.31
Change in Working Capital	224.01	88.76	26.4	147.54	214.25	62.14

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