Polygon Real Estate 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	19.9	19.3	16.84	21.58	10.61
Depreciation & Amortization	5.2	5.33	5.35	5.45	5.57
Loss (Gain) From Sale of Investments	-	-	-	-	-4.08
Other Operating Activities	-0.23	1.77	-8.47	-12.32	1.53
Change in Accounts Receivable	-0.59	0.39	1.56	1.88	-1.81
Change in Accounts Payable	0.02	0.08	-0.32	0.07	0.19
Change in Other Net Operating Assets	0.3	-3.86	0.99	-0.36	2.94
Operating Cash Flow	24.62	23.01	15.95	16.3	14.96
Operating Cash Flow Growth	6.97%	44.26%	-2.14%	9.00%	22.21%
Capital Expenditures	-	-	-0.01	-	-
Sale (Purchase) of Real Estate	-0.13	-0.02	-0.18	-1.05	-0.83
Investment in Securities	-	-	0.46	8.72	-
Other Investing Activities	-	-	5.09	14.17	-
Investing Cash Flow	-0.13	-0.02	5.36	21.84	-0.83
Long-Term Debt Repaid	-	-	-	-7	-6.42
Total Debt Repaid	-	-	-	-7	-6.42
Net Debt Issued (Repaid)	-	-	-	-7	-6.42
Financing Cash Flow	-	-	-	-7	-6.42
Net Cash Flow	24.48	22.99	21.32	31.14	7.7
Free Cash Flow	24.62	23.01	15.94	16.3	14.96
Free Cash Flow Growth	6.97%	44.35%	-2.21%	9.00%	22.21%
Free Cash Flow Margin	74.66%	76.70%	55.65%	60.99%	65.65%
Free Cash Flow Per Share	4.78	4.47	3.10	3.17	2.91
Cash Interest Paid	-	-	-	0.58	0.06
Cash Income Tax Paid	5.9	3.52	8.19	4.94	1.99
Levered Free Cash Flow	18.53	17.42	14.74	16.89	13.59
Unlevered Free Cash Flow	18.55	17.43	14.75	17.04	13.78
Change in Working Capital	-0.26	-3.39	2.23	1.59	1.33