Copenhagen Capital Cash Flow Statement

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

Millions DKK. 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	84.14	7.29	-76.76	106.83	153.34
Depreciation & Amortization	0.02	0.08	0.1	0.17	0.14
Asset Writedown	-94.9	14.69	122.57	-104.12	-180.05
Change in Accounts Receivable	-0.5	0.23	1.65	-1.97	3.25
Change in Accounts Payable	10.46	4.57	-0.38	2.7	-0.91
Change in Other Net Operating Assets	6.76	0.28	3.92	1.65	1.42
Other Operating Activities	27.71	-10.6	-35.81	25.28	39.17
Operating Cash Flow	33.7	16.55	15.29	30.54	16.36
Operating Cash Flow Growth	103.66%	8.24%	-49.95%	86.65%	66.65%
Acquisition of Real Estate Assets	-282.05	-5.75	-64.42	-89.23	-119.2
Sale of Real Estate Assets	-	-	-	133.19	22.48
Net Sale / Acq. of Real Estate Assets	-282.05	-5.75	-64.42	43.96	-96.72
Investing Cash Flow	-282.05	-5.75	-64.42	43.96	-96.72
Long-Term Debt Issued	268.58	205.89	53.23	218.22	128
Long-Term Debt Repaid	-76.94	-175.26	-32.14	-228.44	-42.86
Net Debt Issued (Repaid)	191.64	30.63	21.1	-10.22	85.15
Issuance of Common Stock	59.27	-	108.22	0.17	4.51
Repurchase of Common Stock	-1.49	-34.77	-88.42	-10.68	-
Common & Preferred Dividends Paid	-7.14	-5.5	-5.5	-23.61	-4
Total Dividends Paid	-7.14	-5.5	-5.5	-23.61	-4
Other Financing Activities	-	-	-	-19.16	-19.01
Net Cash Flow	-6.07	1.16	-13.73	11.01	-13.71
Cash Interest Paid	21.03	17.25	14.46	9.7	7.14
Cash Income Tax Paid	-4.65	5.48	12.75	0.19	-
Levered Free Cash Flow	25.22	-4.55	96.85	-51.54	13.38
Unlevered Free Cash Flow	38.37	6.23	105.89	-45.48	17.84
Change in Working Capital	16.72	5.08	5.19	2.38	3.76

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