Argan 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	245.2	245.7	-263.45	95.09	668.11
Depreciation & Amortization	0.27	0.26	0.27	0.26	0.28
Other Amortization	5.29	3.32	3.7	4.15	2.82
Gain (Loss) on Sale of Assets	0.07	1.55	0.21	0.22	-18.52
Asset Writedown	-91.35	-118.08	373.11	32.94	-542.51
Income (Loss) on Equity Investments	0.03	-0.05	-0.01	0.03	0.02
Change in Other Net Operating Assets	-2.9	-13.25	13.27	-18.59	24.82
Other Operating Activities	42.36	54.24	59.19	21.82	37.16
Operating Cash Flow	198.97	173.68	186.29	135.92	172.19
Operating Cash Flow Growth	14.56%	-6.77%	37.06%	-21.07%	30.69%
Acquisition of Real Estate Assets	-63.85	-111.4	-172.45	-252.85	-123.99
Sale of Real Estate Assets	0.18	75.98	12.85	13.78	68.53
Net Sale / Acq. of Real Estate Assets	-63.68	-35.42	-159.6	-239.07	-55.46
Cash Acquisition	-	-	-	-	-0
Other Investing Activities	-11.27	0.64	-1.59	-7.22	-13.49
Investing Cash Flow	-74.94	-34.78	-161.19	-246.29	-68.95
Long-Term Debt Issued	29.91	89.47	233.84	307.47	641.25
Long-Term Debt Repaid	-104.16	-239.81	-269.5	-487.41	-198.35
Net Debt Issued (Repaid)	-74.24	-150.34	-35.66	-179.94	442.9
Issuance of Common Stock	0.79	147.22	0.06	-	0.23
Repurchase of Common Stock	-	-0.84	-	-0.95	-
Common Dividends Paid	-65.38	-52.52	-61.55	-21.75	-25.25
Other Financing Activities	-43.77	-48.68	-45.3	-40.94	-35.39
Miscellaneous Cash Flow Adjustments	0	-	-0	-	-
Net Cash Flow	-58.57	33.74	-117.36	-353.95	485.72
Cash Interest Paid	39.22	46.61	-	-	-
Cash Income Tax Paid	-	-0.03	0.04	0.03	0.05
Levered Free Cash Flow	89.11	89.89	99.09	50.11	80.72
Unlevered Free Cash Flow	111.42	117.24	124.72	67.36	99.07
Change in Working Capital	-2.9	-13.25	13.27	-18.59	24.82