TLV:SRFT 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	20.99	51.54	33.07	113.53	137.45
Depreciation & Amortization	0.57	0.95	1.18	1.16	0.96
Loss (Gain) From Sale of Assets	-	0.27	0.02	-0.01	0.14
Loss (Gain) From Sale of Investments	6.23	0.37	-0.78	5.12	-0.27
Loss (Gain) on Equity Investments	0.02	0.02	0.02	-0.05	0.15
Other Operating Activities	-7.8	-13.35	8.54	-12.15	28.68
Change in Accounts Receivable	-91.78	-80.07	-29.39	12.2	-50.5
Change in Inventory	50.13	71.31	-140.41	-96.45	142.95
Change in Accounts Payable	-56.2	-37.83	-62.58	-4.3	-0.46
Change in Unearned Revenue	14.2	-37.28	-54.21	27.58	62.2
Change in Income Taxes	-0.07	-18.05	-	2.03	-1.62
Change in Other Net Operating Assets	13.68	-31.29	-18.74	54.67	0.6
Operating Cash Flow	-50.04	-93.42	-263.28	103.33	320.29
Operating Cash Flow Growth	-	-	-	-67.74%	-
Capital Expenditures	-7.13	-5.99	-3.52	-0.76	-1.53
Sale of Property, Plant & Equipment	-	0.65	0.12	-	1.38
Investment in Securities	26.88	-23.6	-1.05	-12.83	-51.12
Other Investing Activities	8.03	-11.92	18.25	-21.1	-54.55
Investing Cash Flow	25.8	-39.34	6.96	-32.45	-105.2
Short-Term Debt Issued	5.91	41.91	73.38	-	-
Long-Term Debt Issued	63.66	148.43	200.26	115.73	-
Total Debt Issued	69.57	190.34	273.64	115.73	-
Short-Term Debt Repaid	-	-	-	-87.54	-143.71
Long-Term Debt Repaid	-68.5	-63.25	-73.75	-22.75	-45.5
Total Debt Repaid	-68.5	-63.25	-73.75	-110.29	-189.21
Net Debt Issued (Repaid)	1.07	127.09	199.89	5.44	-189.21
Issuance of Common Stock	49.77	-	-	-	-
Common Dividends Paid	-8.27	-28.38	-14.83	-20	-5.38
Financing Cash Flow	42.58	98.71	185.06	-14.56	-194.59
Net Cash Flow	18.33	-34.05	-71.26	56.32	20.51
Free Cash Flow	-57.17	-99.4	-266.79	102.57	318.76
Free Cash Flow Growth	-	-	-	-67.82%	-
Free Cash Flow Margin	-13.99%	-20.61%	-89.81%	21.85%	56.92%
Free Cash Flow Per Share	-3.19	-5.71	-15.34	5.89	18.32
Cash Interest Paid	-	42.05	31.68	7.15	17.77
Cash Income Tax Paid	-	73.56	16.12	0.11	19.91
Levered Free Cash Flow	-201.89	-86.09	-191.29	158.17	205.13
Unlevered Free Cash Flow	-170.79	-56.28	-172.8	168.96	215.27
Change in Working Capital	-70.04	-133.21	-305.33	-4.27	153.18

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