BUD:GRANIT Cash Flow Statement

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

Millions HUF. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2018
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	2020 - 2018
Net Income	-	19,216	19,892	11,390	3,893	Upgrade
Depreciation & Amortization	-	3,114	1,804	-987	573	Upgrade
Gain (Loss) on Sale of Assets	-	109	-	-9	-2	Upgrade
Gain (Loss) on Sale of Investments	-	3,862	-17,393	21,825	5,278	Upgrade
Total Asset Writedown	-	-	-	-	-1,145	Upgrade
Change in Trading Asset Securities	-	-33,570	16,161	-38,764	-37,104	Upgrade
Change in Other Net Operating Assets	-	-102,503	153,157	-170,940	10,881	Upgrade
Other Operating Activities	-	94	516	-12,653	-1,771	Upgrade
Operating Cash Flow	-	-109,183	173,593	-192,127	-19,326	Upgrade
Capital Expenditures	-	-1,925	-211	-2,289	-429	Upgrade
Sale of Property, Plant and Equipment	-	1,377	-	13	-	Upgrade
Cash Acquisitions	-	563	-6,484	-	-	Upgrade
Investment in Securities	-	-49,247	33,600	-51,870	-39,437	Upgrade
Purchase / Sale of Intangibles	-	-5,189	-2,058	-3,169	-1,024	Upgrade
Other Investing Activities	-	2	61	1	-	Upgrade
Investing Cash Flow	-	-54,419	24,908	-57,314	-40,890	Upgrade
Long-Term Debt Repaid	-	-	-	-5,252	-	Upgrade
Net Debt Issued (Repaid)	-	-	-	-5,252	-	Upgrade
Issuance of Common Stock	-	47,361	930	21,266	-	Upgrade
Net Increase (Decrease) in Deposit Accounts	-	274,807	211,984	265,577	54,036	Upgrade
Other Financing Activities	-	-	-	247	-	Upgrade
Financing Cash Flow	-	322,168	212,914	281,838	54,036	Upgrade
Foreign Exchange Rate Adjustments	-	1,626	-1,591	-	-	Upgrade
Net Cash Flow	-	160,192	409,824	40,051	-5,646	Upgrade
Free Cash Flow	-	-111,108	173,382	-194,416	-19,755	Upgrade
Free Cash Flow Margin	-	-209.97%	370.25%	-688.10%	-155.20%	Upgrade
Free Cash Flow Per Share	-	-7047.32	11262.23	-	-1765.47	Upgrade
Cash Interest Paid	-	70,682	81,923	30,260	5,816	Upgrade
Cash Income Tax Paid	-	3,283	3,607	1,891	660	Upgrade

Source: S&P Capital IQ. Banks template. Financial Sources.