Prime Office Cash Flow Statement

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

Millions DKK. 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	24.08	59.65	55.22	109.02	153.34	146.23
Depreciation & Amortization	0.02	0.02	0.04	0.07	0.11	0.12
Asset Writedown	32.41	-28.75	-31.37	-80.25	-186.92	-190.52
Change in Accounts Receivable	-1.65	-4.23	24.11	-8.88	2.24	-7.44
Change in Other Net Operating Assets	11.45	34.83	13.07	10.14	-6.71	7.8
Other Operating Activities	11.55	37.2	51.22	49.88	120.51	115.09
Operating Cash Flow	77.86	98.72	112.29	79.97	82.57	71.27
Operating Cash Flow Growth	-37.29%	-12.08%	40.42%	-3.14%	15.84%	-55.76%
Acquisition of Real Estate Assets	-321.5	-559.47	-74.42	-53.82	-22.35	-10.89
Sale of Real Estate Assets	36.05	25.63	34.28	11.71	24.87	24.85
Net Sale / Acq. of Real Estate Assets	-285.46	-533.85	-40.14	-42.1	2.52	13.96
Investing Cash Flow	-285.46	-533.85	-40.14	-42.1	2.52	13.96
Long-Term Debt Issued	-	390.5	161.96	-	-	-
Long-Term Debt Repaid	-	-36.74	-72.94	-3.58	-24.04	-16.61
Net Debt Issued (Repaid)	329.63	353.75	89.02	-3.58	-24.04	-16.61
Common Dividends Paid	-	-	-11.34	-	-18.87	-
Other Financing Activities	-183.05	-33.53	-7.77	-9.56	-7.32	-6.1
Foreign Exchange Rate Adjustments	0.25	0.28	0.33	-0.02	-0.03	-0.06
Miscellaneous Cash Flow Adjustments	0	-	-	15.39	-	-
Net Cash Flow	-60.77	-114.62	142.39	40.1	34.83	62.47
Cash Interest Paid	38.87	43.02	41.55	23.3	26.69	30.14
Cash Income Tax Paid	5.74	5.44	8.65	7.4	2.53	12.17
Levered Free Cash Flow	42.71	54.26	59.6	33.08	44.2	48.7
Unlevered Free Cash Flow	86.11	100.26	98.01	47.64	62.16	67.53
Change in Working Capital	9.8	30.6	37.18	1.26	-4.47	0.36

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