TLV:MSKE 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	-139.16	-52.16	1.8	-10.88	-40.28	-10.94
Depreciation & Amortization	69.03	59.86	44.93	37.82	25.63	4.54
Loss (Gain) on Sale of Investments	-	-4.82	-	-	-	-
Loss (Gain) on Equity Investments	16.51	-24.21	-42.72	-31.02	2.73	-1.59
Stock-Based Compensation	1.9	2.93	3.63	1.58	3.87	1.75
Change in Accounts Receivable	-12.79	-5.41	4.51	0.25	-0.68	-1.51
Change in Accounts Payable	13.37	14.24	-4.56	-2	5.74	-1.77
Other Operating Activities	73.32	40.16	0.52	57.21	1.58	-1.54
Operating Cash Flow	22.18	30.58	8.11	52.95	-1.41	-11.07
Operating Cash Flow Growth	17.84%	277.01%	-84.68%	-	-	-
Capital Expenditures	-140.73	-184.96	-196.03	-162.27	-132.72	-33.56
Cash Acquisitions	0.39	-	0.98	32.53	-35.58	-
Investment in Securities	-16.01	-648	8.66	-27.48	-7.66	-2.32
Other Investing Activities	-6.52	-9.8	-22.02	84.82	99.2	-250.06
Investing Cash Flow	-163.43	-842.39	-208.69	-76.77	-78.5	-285.93
Short-Term Debt Issued	-	-	20.61	-	30.52	-
Long-Term Debt Issued	-	291.77	68.6	82.76	20	241.02
Total Debt Issued	911.91	291.77	89.2	82.76	50.52	241.02
Short-Term Debt Repaid	-	-21.41	-	-20.22	-10.52	-30
Long-Term Debt Repaid	-	-48.83	-37.72	-38.54	-66.71	-9.3
Total Debt Repaid	-413.84	-70.24	-37.72	-58.75	-77.23	-39.3
Net Debt Issued (Repaid)	498.08	221.53	51.48	24	-26.71	201.71
Issuance of Common Stock	-	-	404.7	-	89.65	163.15
Other Financing Activities	-39.25	346.68	-2.9	-	-9.42	-0.18
Financing Cash Flow	458.83	568.21	453.28	24	53.52	364.69
Foreign Exchange Rate Adjustments	0.1	-0.05	0.13	-0.06	-	-
Net Cash Flow	317.68	-243.65	252.84	0.12	-26.38	67.69
Free Cash Flow	-118.55	-154.38	-187.92	-109.32	-134.13	-44.62
Free Cash Flow Margin	-89.66%	-145.79%	-237.56%	-161.89%	-294.97%	-444.63%
Free Cash Flow Per Share	-0.17	-0.22	-0.29	-0.27	-0.92	-0.45
Cash Interest Paid	43.24	33.87	21.92	16.19	14.27	2.38
Cash Income Tax Paid	1.42	0.08	0.37	0.1	-	-
Levered Free Cash Flow	-91.01	-129.26	-156.8	-70.28	33.43	-276.55
Unlevered Free Cash Flow	-53.68	-113.12	-146.74	-62.43	40.95	-274.38
Change in Working Capital	0.58	8.83	-0.05	-1.75	5.06	-3.28

Source: S&P Global Market Intelligence. Utility template. Financial Sources.