Menivim - The New Reit Cash Flow Statement

Financials in millions ILS. Fiscal year is January - December.

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	208.95	212.26	123	148	143.98	158.76
Asset Writedown	-63.17	-82.29	-19.05	-57.04	-93.32	-98.63
Stock-Based Compensation	0.99	0.9	0.4	-	1.44	-
Change in Accounts Receivable	14.23	2.97	2.93	-1.6	-2.17	-3.32
Change in Accounts Payable	-	-	-	-	-	0.52
Change in Other Net Operating Assets	-16.54	-5.05	-5.78	8.41	-0.02	4.75
Other Operating Activities	66.05	75.71	86.12	64.66	74.38	31.83
Operating Cash Flow	210.51	204.5	187.63	162.43	124.29	93.91
Operating Cash Flow Growth	7.13%	8.99%	15.51%	30.69%	32.35%	7.05%
Acquisition of Real Estate Assets	-248.02	-196.07	-344.36	-223.17	-504.95	-147.63
Sale of Real Estate Assets	-	-	13.51	-	-	-
Net Sale / Acq. of Real Estate Assets	-248.02	-196.07	-330.85	-223.17	-504.95	-147.63
Cash Acquisition	-64.51	-	-	-	-	-
Other Investing Activities	-350.83	7.67	12.01	8.41	1.68	0.29
Investing Cash Flow	-663.35	-188.39	-318.84	-214.76	-503.27	-147.34
Long-Term Debt Issued	-	109.98	179.35	453.64	261.96	343.1
Long-Term Debt Repaid	-	-79.3	-96.61	-256.72	-40.69	-69.96
Net Debt Issued (Repaid)	580.88	30.68	82.74	196.92	221.26	273.14
Issuance of Common Stock	160.11	152.14	127.7	5.84	141.87	-
Repurchase of Common Stock	-	-	-13.53	-12.69	-	-
Common Dividends Paid	-98.79	-98.79	-89.46	-79.53	-86	-57
Other Financing Activities	-40.86	-40.09	-37.91	-33.57	-24.49	-20.11
Net Cash Flow	148.49	60.05	-61.67	24.65	-126.34	142.6
Cash Interest Paid	40.09	40.09	37.91	33.57	24.49	20.11
Levered Free Cash Flow	99.78	100.53	101.85	74.43	53.3	41.85
Unlevered Free Cash Flow	123.1	126.54	125.71	91.28	63.71	51.16
Change in Working Capital	-2.31	-2.08	-2.85	6.81	-2.19	1.95