Cofinimmo Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	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	63.89	-55.5	482.94	260.34	119.22
Depreciation & Amortization	0.77	1.15	3.19	0.59	0.65
Other Amortization	0.58	0.65	-	0.58	0.32
Gain (Loss) on Sale of Assets	15.58	4.05	-4.49	-7.77	-4.58
Gain (Loss) on Sale of Investments	31.77	87.15	-212.45	-43.27	22.76
Asset Writedown	123.79	209.74	14.29	-29.06	23.82
Change in Accounts Receivable	5.42	-6.13	-4	-4.57	-3.89
Change in Accounts Payable	-4.72	-24.23	-9.43	-3.35	2.54
Change in Other Net Operating Assets	10.21	-8.59	-0.63	-4.96	10.39
Other Operating Activities	26.62	15.83	-57.51	31.59	19.4
Operating Cash Flow	279.17	227.88	210.42	200.44	179.53
Operating Cash Flow Growth	22.51%	8.30%	4.98%	11.65%	6.11%
Acquisition of Real Estate Assets	-144.56	-175.45	-416.23	-383.5	-232.7
Sale of Real Estate Assets	219.07	290.35	121.98	121.47	43.21
Net Sale / Acq. of Real Estate Assets	74.51	114.9	-294.24	-262.03	-189.49
Cash Acquisition	-0.48	-96.64	-61.94	-459.96	-292.39
Investment in Marketable & Equity Securities	-6	-3.99	-2	-9.49	-69.17
Other Investing Activities	8.24	-4.96	-0.79	-17.09	-16.35
Investing Cash Flow	96.98	13.59	-334.39	-745.44	-565.16
Long-Term Debt Issued	1.09	0.96	309.33	485.79	525.48
Long-Term Debt Repaid	-159.21	-219.43	-33.97	-27.08	-0.37
Net Debt Issued (Repaid)	-158.12	-218.47	275.36	458.71	525.11
Issuance of Common Stock	0.2	165.07	0.53	178.82	0.66
Common Dividends Paid	-153.42	-160.09	-134.96	-107.09	-101.16
Total Dividends Paid	-153.42	-160.09	-134.96	-107.09	-101.16
Other Financing Activities	-58.97	-27.64	-17.2	-14.23	-21.91
Miscellaneous Cash Flow Adjustments	-0	-	-	-	-0
Net Cash Flow	5.84	0.35	-0.25	-28.79	17.07
Cash Interest Paid	40.48	40.45	34.11	28.09	28.22
Cash Income Tax Paid	-	-	-	-	16.98
Levered Free Cash Flow	166.45	188.37	62.3	85.53	146.18
Unlevered Free Cash Flow	211.93	232.5	77.14	97.12	155.15
Change in Working Capital	6.91	-36.52	-15.18	-15.22	1.53

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.