Cofinimmo Cash Flow Statement

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

Millions EUR. 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	213.46	63.89	-55.5	482.94	260.34
Depreciation & Amortization	0.85	0.77	1.15	3.19	0.59
Other Amortization	0.59	0.58	0.65	-	0.58
Gain (Loss) on Sale of Assets	-0.33	15.58	4.05	-4.49	-7.77
Gain (Loss) on Sale of Investments	21.54	31.77	87.15	-212.45	-43.27
Asset Writedown	4.36	123.79	209.74	14.29	-29.06
Change in Accounts Receivable	5.33	5.42	-6.13	-4	-4.57
Change in Accounts Payable	2.67	-4.72	-24.23	-9.43	-3.35
Change in Other Net Operating Assets	5.03	10.21	-8.59	-0.63	-4.96
Other Operating Activities	30.33	26.62	15.83	-57.51	31.59
Operating Cash Flow	297.49	279.17	227.88	210.42	200.44
Operating Cash Flow Growth	6.56%	22.51%	8.30%	4.98%	11.65%
Acquisition of Real Estate Assets	-94.88	-144.56	-175.45	-416.23	-383.5
Sale of Real Estate Assets	45.58	219.07	290.35	121.98	121.47
Net Sale / Acq. of Real Estate Assets	-49.3	74.51	114.9	-294.24	-262.03
Cash Acquisition	-24.46	-0.48	-96.64	-61.94	-459.96
Investment in Marketable & Equity Securities	-	-6	-3.99	-2	-9.49
Other Investing Activities	0	8.24	-4.96	-0.79	-17.09
Investing Cash Flow	-31.8	96.98	13.59	-334.39	-745.44
Long-Term Debt Issued	0.9	1.09	0.96	309.33	485.79
Long-Term Debt Repaid	-1.56	-159.21	-219.43	-33.97	-27.08
Net Debt Issued (Repaid)	-0.65	-158.12	-218.47	275.36	458.71
Issuance of Common Stock	0.32	0.2	165.07	0.53	178.82
Common Dividends Paid	-236.55	-153.42	-160.09	-134.96	-107.09
Total Dividends Paid	-236.55	-153.42	-160.09	-134.96	-107.09
Other Financing Activities	-30.89	-58.97	-27.64	-17.2	-14.23
Foreign Exchange Rate Adjustments	0.05	-	-	-	-
Miscellaneous Cash Flow Adjustments	-	-0	-	-	-
Net Cash Flow	-2.03	5.84	0.35	-0.25	-28.79
Cash Interest Paid	38.68	40.48	40.45	34.11	28.09
Levered Free Cash Flow	174.16	166.45	188.37	62.3	85.53
Unlevered Free Cash Flow	205.58	211.93	232.5	77.14	97.12
Change in Working Capital	21.63	6.91	-36.52	-15.18	-15.22

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