TLV:MSLA 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	28.17	37.31	19.93	13.54	23.52
Depreciation & Amortization	4.71	2.71	2.02	1.59	1.39
Loss (Gain) From Sale of Assets	-	-0.06	-0.34	-0.03	-0.12
Asset Writedown & Restructuring Costs	0.45	1.02	0.16	0.23	-2.53
Stock-Based Compensation	1.59	0.88	-	-	-
Other Operating Activities	-7.85	-4.69	-0.14	-7.1	-7.5
Change in Accounts Receivable	-50.54	-85.69	-33.99	89.76	-62.51
Change in Inventory	-36.11	16.34	6.55	-22.27	37.62
Change in Accounts Payable	-5.36	11.67	8.18	10.49	2.6
Change in Unearned Revenue	-19.36	-1.37	-50.83	60.4	7.49
Change in Other Net Operating Assets	-34.65	-39.42	-38.85	-75.44	-34.28
Operating Cash Flow	-118.95	-61.3	-87.3	71.16	-34.34
Capital Expenditures	-4.15	-5.35	-4.39	-3.28	-1.12
Sale of Property, Plant & Equipment	-	1.2	1.42	0.49	0.12
Sale (Purchase) of Real Estate	0.31	-1.34	-0.82	14.75	-0.41
Other Investing Activities	42.94	-111.54	106.13	-84.48	26.66
Investing Cash Flow	39.84	-116.15	102.98	-71.88	25.89
Short-Term Debt Issued	53.35	74.07	23.81	50.68	16.05
Long-Term Debt Issued	23.66	92.45	-	19.83	97.8
Total Debt Issued	77.01	166.52	23.81	70.51	113.84
Long-Term Debt Repaid	-15.14	-24.27	-19.64	-83.22	-14.54
Total Debt Repaid	-15.14	-24.27	-19.64	-83.22	-14.54
Net Debt Issued (Repaid)	61.86	142.25	4.17	-12.71	99.31
Issuance of Common Stock	-	-	1.76	2.03	-
Repurchase of Common Stock	-	-	-0.65	-	-
Common Dividends Paid	-	-11	-12	-1.53	-7.97
Financing Cash Flow	61.86	131.25	-6.72	-12.21	91.34
Miscellaneous Cash Flow Adjustments	-	0	-	-	-
Net Cash Flow	-17.25	-46.2	8.96	-12.93	82.89
Free Cash Flow	-123.09	-66.65	-91.69	67.88	-35.45
Free Cash Flow Margin	-38.56%	-21.25%	-41.18%	44.16%	-23.18%
Free Cash Flow Per Share	-5.24	-2.72	-3.61	2.68	-1.56
Cash Interest Paid	-	6.79	7.16	13.36	11.17
Cash Income Tax Paid	-	0.12	0.12	0.12	0.12
Levered Free Cash Flow	-69.14	-198.62	-4.47	45.2	-16.11
Unlevered Free Cash Flow	-52.86	-191.34	2.83	50.79	-12.97
Change in Working Capital	-146.01	-98.47	-108.93	62.93	-49.08

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