Trade Estates REIC Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	25.07	24.04	37.71	24.01	15.6
Depreciation & Amortization	0.51	0.44	0.25	0.18	0.03
Other Amortization	0.08	0.05	0.03	0.01	0
Asset Writedown	-7.98	-10.95	-30.24	-13.58	-6.07
Change in Accounts Receivable	19.15	6.54	-1.44	-2.65	-0.56
Change in Other Net Operating Assets	-10.71	0.1	1.14	0.47	0.71
Other Operating Activities	4.34	2.6	2.49	-0.54	0.6
Operating Cash Flow	30.45	22.82	9.94	7.91	10.31
Operating Cash Flow Growth	84.27%	129.64%	25.63%	-23.32%	-
Acquisition of Real Estate Assets	-29.32	-32.4	-24.85	-6.56	-7.49
Net Sale / Acq. of Real Estate Assets	-29.32	-32.4	-24.85	-6.56	-7.49
Cash Acquisition	-	0.34	-99.81	-37.58	-34.75
Investment in Marketable & Equity Securities	-3.05	-5.4	-1.36	-3.04	-14.03
Other Investing Activities	-19.94	-7.89	-0.63	-2.25	0
Investing Cash Flow	-52.31	-45.35	-126.65	-49.43	-56.27
Long-Term Debt Issued	-	180.83	139.79	146.37	-
Total Debt Issued	145.58	180.83	139.79	146.37	57
Long-Term Debt Repaid	-	-140.84	-62.41	-96.18	-
Total Debt Repaid	-107.53	-140.84	-62.41	-96.18	-2.84
Net Debt Issued (Repaid)	38.05	39.99	77.39	50.19	54.16
Issuance of Common Stock	-	-	55.89	-	0.01
Common Dividends Paid	-12.05	-9.64	-7.47	-5.21	-
Other Financing Activities	-	-0.01	-4.53	-0.02	13.96
Miscellaneous Cash Flow Adjustments	0	-	-	-0	-
Net Cash Flow	4.14	7.8	4.56	3.44	22.18
Cash Interest Paid	12.24	13.39	7.92	3.87	1.02
Cash Income Tax Paid	3.25	2.81	1.27	0.81	0.66
Levered Free Cash Flow	7.93	1.58	6.16	4.73	-
Unlevered Free Cash Flow	16.79	11.16	10.67	6.93	-
Change in Working Capital	8.44	6.64	-0.3	-2.18	0.15

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