Solaer Renewable Energies 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	5.32	-52.43	10.18	-11.15	-25.7
Depreciation & Amortization	5.93	15.23	21.73	17.51	5.51
Loss (Gain) on Sale of Assets	-19.96	6.87	-	-	-
Loss (Gain) on Equity Investments	0.78	0.46	-0.1	-0.07	-
Asset Writedown	3.42	5.01	2.3	4.3	0.43
Stock-Based Compensation	0.06	0.37	1.39	3.43	-
Change in Accounts Receivable	6.02	-17.61	4.18	-7.59	-2.32
Change in Accounts Payable	-0.53	20.57	2.17	3.58	-3.79
Change in Other Net Operating Assets	-20.57	25.36	0.38	0.25	1.78
Other Operating Activities	-61.03	4.2	-45.57	-21.62	0.99
Operating Cash Flow	-80.56	8.01	-3.35	-11.38	-23.1
Capital Expenditures	-163.03	-125.95	-75.09	-158.7	-273.8
Sale of Property, Plant & Equipment	5	20.46	-	1.56	-
Cash Acquisitions	-6.55	-3.36	-	-	-7.9
Divestitures	23.93	-	-	-	-
Investment in Securities	7.04	-16.9	-5.14	1.81	-1.87
Other Investing Activities	-224.71	-132.27	-14.04	34.93	-4.35
Investing Cash Flow	-358.31	-258.01	-97.02	-197.12	-287.92
Short-Term Debt Issued	112.63	68.1	21.45	74.51	-
Long-Term Debt Issued	233.03	186.25	188.31	319.87	172.05
Total Debt Issued	345.66	254.35	209.75	394.38	172.05
Short-Term Debt Repaid	-	-18.24	-3.4	-39.33	-
Long-Term Debt Repaid	-51.08	-72.91	-100.1	-122.77	-2.79
Total Debt Repaid	-51.08	-91.15	-103.5	-162.1	-2.79
Net Debt Issued (Repaid)	294.59	163.2	106.25	232.28	169.26
Issuance of Common Stock	168.6	-	78.65	-	168.94
Other Financing Activities	-0.2	-1.15	-2.29	-1.93	-0.7
Financing Cash Flow	462.99	162.05	182.62	230.35	337.5
Foreign Exchange Rate Adjustments	-2.65	0.98	0.71	-0.76	-1.24
Miscellaneous Cash Flow Adjustments	-9.85	-3.69	-	-	-
Net Cash Flow	11.62	-90.66	82.96	21.09	25.24
Free Cash Flow	-243.59	-117.94	-78.43	-170.08	-296.9
Free Cash Flow Margin	-188.83%	-111.56%	-164.53%	-439.55%	-1887.11%
Free Cash Flow Per Share	-13.45	-7.19	-5.66	-12.25	-22.80
Cash Interest Paid	65.79	26.24	26.55	13.73	3.35
Cash Income Tax Paid	-	1.12	0.06	0.05	-
Levered Free Cash Flow	-324.94	-160.74	-162.75	-207.65	-316.09
Unlevered Free Cash Flow	-252.22	-100.93	-111.31	-177.56	-306
Change in Working Capital	-15.08	28.31	6.73	-3.76	-4.33

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