TLV:MSKE 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	-86.81	-52.16	1.8	-10.88	-40.28
Depreciation & Amortization	68.58	59.86	44.93	37.82	25.63
Loss (Gain) on Sale of Investments	-	-4.82	-	-	-
Loss (Gain) on Equity Investments	-40.35	-24.21	-42.72	-31.02	2.73
Stock-Based Compensation	2.22	2.93	3.63	1.58	3.87
Change in Accounts Receivable	-10.44	-5.41	4.51	0.25	-0.68
Change in Accounts Payable	12.99	14.24	-4.56	-2	5.74
Other Operating Activities	67.02	40.16	0.52	57.21	1.58
Operating Cash Flow	13.2	30.58	8.11	52.95	-1.41
Operating Cash Flow Growth	-56.83%	277.01%	-84.68%	-	-
Capital Expenditures	-183.8	-184.96	-196.03	-162.27	-132.72
Cash Acquisitions	0.39	-	0.98	32.53	-35.58
Investment in Securities	-	-648	8.66	-27.48	-7.66
Other Investing Activities	-35.84	-9.8	-22.02	84.82	99.2
Investing Cash Flow	-221.57	-842.39	-208.69	-76.77	-78.5
Short-Term Debt Issued	-	-	20.61	-	30.52
Long-Term Debt Issued	1,155	291.77	68.6	82.76	20
Total Debt Issued	1,155	291.77	89.2	82.76	50.52
Short-Term Debt Repaid	-	-21.41	-	-20.22	-10.52
Long-Term Debt Repaid	-451.48	-48.83	-37.72	-38.54	-66.71
Total Debt Repaid	-451.48	-70.24	-37.72	-58.75	-77.23
Net Debt Issued (Repaid)	703.03	221.53	51.48	24	-26.71
Issuance of Common Stock	-	-	404.7	-	89.65
Other Financing Activities	-39.25	346.68	-2.9	-	-9.42
Financing Cash Flow	663.78	568.21	453.28	24	53.52
Foreign Exchange Rate Adjustments	0.07	-0.05	0.13	-0.06	-
Net Cash Flow	455.49	-243.65	252.84	0.12	-26.38
Free Cash Flow	-170.6	-154.38	-187.92	-109.32	-134.13
Free Cash Flow Margin	-124.09%	-145.79%	-237.56%	-161.89%	-294.97%
Free Cash Flow Per Share	-0.24	-0.22	-0.29	-0.27	-0.92
Cash Interest Paid	50.94	33.87	21.92	16.19	14.27
Cash Income Tax Paid	1.86	0.08	0.37	0.1	-
Levered Free Cash Flow	-197.99	-129.26	-156.8	-70.28	33.43
Unlevered Free Cash Flow	-161.61	-113.12	-146.74	-62.43	40.95
Change in Working Capital	2.54	8.83	-0.05	-1.75	5.06

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