Frey SA 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	77.41	40	18.86	129.38	65.43
Depreciation & Amortization	4.6	4.05	4.06	1.64	3.43
Gain (Loss) on Sale of Assets	-0.73	-1.4	1.73	-1.8	-1.9
Gain (Loss) on Sale of Investments	18.6	29.25	-	-	-
Asset Writedown	-58.39	-23.79	-14.66	-38.94	-28.76
Income (Loss) on Equity Investments	-1.97	4.51	-1.17	-3.25	-2.52
Change in Accounts Receivable	-8.8	18.24	-8.25	14.51	13.02
Change in Accounts Payable	0.25	0.35	3.68	4.51	-4.54
Change in Other Net Operating Assets	-5.33	-11.87	-8.66	2.72	-2.61
Other Operating Activities	70.76	50.6	76.97	-41.9	8.33
Operating Cash Flow	106.52	110.72	61.04	58.77	51.53
Operating Cash Flow Growth	-3.79%	81.39%	3.86%	14.06%	36.16%
Acquisition of Real Estate Assets	-308.5	-117.09	-150.83	-140.62	-120.43
Sale of Real Estate Assets	26.81	190.32	128.61	59.56	52.29
Net Sale / Acq. of Real Estate Assets	-281.69	73.23	-22.22	-81.06	-68.15
Cash Acquisition	-123.03	-5.94	-245.12	-129.78	-69.94
Investment in Marketable & Equity Securities	-	-	-	-	0.15
Investing Cash Flow	-408.98	66.02	-267.08	-209.86	-148.88
Long-Term Debt Issued	319.7	609.52	618.05	475.39	430.35
Long-Term Debt Repaid	-114.4	-391.83	-424.98	-275.84	-367.13
Net Debt Issued (Repaid)	205.31	217.7	193.06	199.55	63.22
Issuance of Common Stock	48.09	3.67	96.15	-	101.34
Repurchase of Common Stock	-2.99	-	-11.69	-1.39	-1.71
Common Dividends Paid	-62.11	-57.14	-47.68	-45.36	-26.62
Other Financing Activities	37.45	-92.71	-22.98	-13.89	-10.55
Foreign Exchange Rate Adjustments	0.17	0.05	0.13	-	-
Miscellaneous Cash Flow Adjustments	-0	-	-	-	-
Net Cash Flow	-76.54	248.31	0.94	-12.18	28.34
Cash Interest Paid	46.78	41.34	22.98	13.89	10.55
Cash Income Tax Paid	6.88	5.16	2.22	3.88	1.3
Levered Free Cash Flow	44.85	-43.81	88.3	-9.59	4.86
Unlevered Free Cash Flow	95.93	13.65	142.71	-38.87	4.73
Change in Working Capital	-3.75	7.48	-24.75	13.64	7.52

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