Malam - Team 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	74.01	88.54	63.88	56.05	67.79
Depreciation & Amortization	108.33	110.9	119.5	126.44	121.48
Loss (Gain) From Sale of Assets	-	11.19	-5.54	4.66	-
Asset Writedown & Restructuring Costs	27.2	-	-	-	-
Loss (Gain) on Equity Investments	6.4	2.1	-2.13	-3.54	-1.18
Other Operating Activities	3.24	-0.02	7	-2.42	-1.9
Change in Accounts Receivable	-15.18	-41.99	-47.83	-102.02	71.07
Change in Inventory	-13.48	39.54	-3.53	-36.56	-6.63
Change in Accounts Payable	34.38	13.23	110.6	0.35	-23.93
Change in Other Net Operating Assets	-50.16	28.29	-21.31	-3.94	-16.95
Operating Cash Flow	174.73	251.77	220.66	39.03	209.75
Operating Cash Flow Growth	-30.60%	14.10%	465.35%	-81.39%	-32.72%
Capital Expenditures	-45.66	-9.59	-18.83	-86.66	-38.24
Sale of Property, Plant & Equipment	-	-	0.1	0.12	0.67
Cash Acquisitions	-18.47	-8.87	-31.7	-63.51	-24.82
Divestitures	-	-	11.72	-	-1.19
Sale (Purchase) of Intangibles	-45.09	-36.57	-35.56	-20.25	-18.46
Investment in Securities	-	1	-	6	-
Other Investing Activities	-	-2.06	-0.72	-2.11	-3.62
Investing Cash Flow	-109.21	-56.08	-74.99	-166.41	-85.66
Short-Term Debt Issued	38.47	44.43	-	162.5	-
Long-Term Debt Issued	290	235	490	273.5	234
Total Debt Issued	328.47	279.43	490	436	234
Short-Term Debt Repaid	-	-	-152.76	-	-46.03
Long-Term Debt Repaid	-352.18	-358.07	-363.01	-226.39	-211.21
Total Debt Repaid	-352.18	-358.07	-515.77	-226.39	-257.24
Net Debt Issued (Repaid)	-23.7	-78.64	-25.77	209.61	-23.24
Common Dividends Paid	-	-	-32.84	-76.74	-76.63
Other Financing Activities	-2.96	-13.87	-24.92	-2.09	-14.97
Financing Cash Flow	-26.66	-92.51	-83.53	130.78	-114.84
Foreign Exchange Rate Adjustments	-1.16	-0.1	0.36	0.85	-0.25
Net Cash Flow	37.7	103.07	62.49	4.26	9
Free Cash Flow	129.07	242.18	201.84	-47.63	171.51
Free Cash Flow Growth	-46.70%	19.99%	-	-	-42.02%
Free Cash Flow Margin	3.12%	6.40%	6.66%	-1.76%	7.56%
Free Cash Flow Per Share	5.89	11.06	9.22	-2.17	7.83
Cash Interest Paid	57.22	58.24	57.65	25.8	12.41
Cash Income Tax Paid	34.97	42.21	35.78	31.75	32.63
Levered Free Cash Flow	105.49	194.74	135.8	-53.96	159.92
Unlevered Free Cash Flow	141.25	231.14	171.83	-37.84	166.75
Change in Working Capital	-44.45	39.06	37.94	-142.16	23.56

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