Sagax Real Estate Socimi 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	18.77	14.97	59.77	14.61	35.9
Depreciation & Amortization	5.58	4.57	4.49	5.79	-
Gain (Loss) on Sale of Assets	-	-	-	-	0.01
Asset Writedown	1.02	1.82	-47.34	-	-23.08
Change in Accounts Receivable	-0.85	0.28	-0.64	-0.08	0.39
Change in Accounts Payable	0.27	-0.56	3.86	-0.77	-0.59
Change in Other Net Operating Assets	-0.32	-0.09	-0.36	-0.12	-0.04
Other Operating Activities	-	-	-	-0.27	0.8
Operating Cash Flow	24.9	21.2	19.89	19.2	13.44
Operating Cash Flow Growth	17.45%	6.58%	3.62%	42.82%	-17.90%
Acquisition of Real Estate Assets	-63.31	-59.8	-21.79	-34.91	-29.84
Sale of Real Estate Assets	-	5.25	190	-	-
Net Sale / Acq. of Real Estate Assets	-63.31	-54.55	168.21	-34.91	-29.84
Cash Acquisition	-	-	-	-	-50.15
Investment in Marketable & Equity Securities	-33.23	64.83	-163.58	0.01	-0.26
Investing Cash Flow	-96.54	10.28	4.63	-34.9	-80.26
Long-Term Debt Issued	89.01	0.66	6.37	20.85	1.14
Long-Term Debt Repaid	-4.29	-0.32	-17.45	-	-182.07
Net Debt Issued (Repaid)	84.72	0.34	-11.08	20.85	-180.93
Issuance of Common Stock	-	-	-	-	250
Common Dividends Paid	-13.47	-31.69	-13.15	-5.53	-2.43
Net Cash Flow	-0.39	0.13	0.29	-0.38	-0.18
Cash Interest Paid	-	1.58	0.46	0.7	4.9
Levered Free Cash Flow	10.72	7.93	9.24	12.62	8.28
Unlevered Free Cash Flow	12.44	8.92	9.52	13.06	11.59
Change in Working Capital	-0.9	-0.38	2.86	-0.97	-0.23

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