TLV:SRFT Cash Flow Statement

Financials in millions ILS. Fiscal year is January - December.

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	29.49	51.54	33.07	113.53	137.45	4.05
Depreciation & Amortization	0.7	0.95	1.18	1.16	0.96	0.57
Loss (Gain) From Sale of Assets	0.03	0.27	0.02	-0.01	0.14	0.16
Loss (Gain) From Sale of Investments	2.52	0.37	-0.78	5.12	-0.27	2.92
Loss (Gain) on Equity Investments	0.02	0.02	0.02	-0.05	0.15	-
Other Operating Activities	-3.68	-13.35	8.54	-12.15	28.68	2.94
Change in Accounts Receivable	-114.09	-80.07	-29.39	12.2	-50.5	-16.28
Change in Inventory	75.03	71.31	-140.41	-96.45	142.95	-42.69
Change in Accounts Payable	-44.47	-37.83	-62.58	-4.3	-0.46	15.67
Change in Unearned Revenue	6.88	-37.28	-54.21	27.58	62.2	24.18
Change in Income Taxes	-1.14	-18.05	-	2.03	-1.62	-0.41
Change in Other Net Operating Assets	9.76	-31.29	-18.74	54.67	0.6	-14.34
Operating Cash Flow	-38.78	-93.42	-263.28	103.33	320.29	-23.23
Operating Cash Flow Growth	-	-	-	-67.74%	-	-
Capital Expenditures	-7.63	-5.99	-3.52	-0.76	-1.53	-1.57
Sale of Property, Plant & Equipment	-	0.65	0.12	-	1.38	0.58
Investment in Securities	50.6	-23.6	-1.05	-12.83	-51.12	32.31
Other Investing Activities	-60.86	-11.92	18.25	-21.1	-54.55	2.42
Investing Cash Flow	-20.46	-39.34	6.96	-32.45	-105.2	30.85
Short-Term Debt Issued	-	41.91	73.38	-	-	19.62
Long-Term Debt Issued	-	148.43	200.26	115.73	-	69.12
Total Debt Issued	102.11	190.34	273.64	115.73	-	88.74
Short-Term Debt Repaid	-	-	-	-87.54	-143.71	-
Long-Term Debt Repaid	-	-63.25	-73.75	-22.75	-45.5	-50
Total Debt Repaid	-96.82	-63.25	-73.75	-110.29	-189.21	-50
Net Debt Issued (Repaid)	5.28	127.09	199.89	5.44	-189.21	38.74
Common Dividends Paid	-8.27	-28.38	-14.83	-20	-5.38	-14.19
Financing Cash Flow	46.79	98.71	185.06	-14.56	-194.59	24.56
Net Cash Flow	-12.46	-34.05	-71.26	56.32	20.51	32.17
Free Cash Flow	-46.41	-99.4	-266.79	102.57	318.76	-24.81
Free Cash Flow Growth	-	-	-	-67.82%	-	-
Free Cash Flow Margin	-10.40%	-20.61%	-89.81%	21.85%	56.92%	-14.79%
Free Cash Flow Per Share	-2.63	-5.71	-15.34	5.89	18.32	-1.43
Cash Interest Paid	39.48	42.05	31.68	7.15	17.77	15.4
Cash Income Tax Paid	25.64	73.56	16.12	0.11	19.91	12.54
Levered Free Cash Flow	-72.72	-86.09	-191.29	158.17	205.13	-64.02
Unlevered Free Cash Flow	-43.84	-56.28	-172.8	168.96	215.27	-53.15
Change in Working Capital	-68.03	-133.21	-305.33	-4.27	153.18	-33.87

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