Grand City Properties 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	511.88	238.99	-513.81	153.96	548.56
Depreciation & Amortization	6.64	6.31	9.32	10.49	8.24
Gain (Loss) on Sale of Assets	-	5.53	8.64	-2.72	-63.69
Gain (Loss) on Sale of Investments	-	-3.88	67.02	115.93	122.55
Asset Writedown	-272.52	-49.56	881.38	-115.04	-631.15
Stock-Based Compensation	2.75	2.33	1.86	2.57	3.16
Income (Loss) on Equity Investments	-	-	-	-	-3.95
Change in Other Net Operating Assets	-19.69	-9.9	-38.01	-61.13	-44.83
Other Operating Activities	51.42	94.63	-166.99	112.06	278.17
Operating Cash Flow	280.49	284.46	249.41	216.12	217.06
Operating Cash Flow Growth	-1.40%	14.06%	15.40%	-0.43%	-10.36%
Acquisition of Real Estate Assets	-250.06	-111.95	-117.36	-263.59	-484.01
Sale of Real Estate Assets	76.44	77.45	166.29	18.48	14.99
Net Sale / Acq. of Real Estate Assets	-173.62	-34.5	48.93	-245.11	-469.02
Investment in Marketable & Equity Securities	134.49	86.52	98.94	78.62	275.23
Investing Cash Flow	-39.13	52.02	147.8	-167.69	-198.46
Long-Term Debt Issued	239.99	549.76	583.86	-	1,149
Long-Term Debt Repaid	-266.89	-512.24	-87.75	-486.33	-1,220
Net Debt Issued (Repaid)	-26.9	37.53	496.11	-486.33	-70.69
Issuance of Common Stock	-	43.48	-	-	17.1
Repurchase of Common Stock	-56.7	-93.76	-24.75	-24.75	-379.67
Common Dividends Paid	-	-	-	-56.34	-53.72
Other Financing Activities	-0.93	-80.62	-66.06	-49.34	-50.21
Foreign Exchange Rate Adjustments	1.7	0.95	-0.03	-1.06	2.09
Miscellaneous Cash Flow Adjustments	0.38	-0.38	1.76	-1.16	-0.22
Net Cash Flow	158.91	243.68	804.24	-570.55	-516.71
Cash Interest Paid	-	65.01	49.04	47.34	49.79
Cash Income Tax Paid	-	40.65	32.23	30.85	36.7
Levered Free Cash Flow	387.82	175.49	313.38	14.61	194.31
Unlevered Free Cash Flow	428.8	212.27	348.89	43.93	223.35
Change in Working Capital	-19.69	-9.9	-38.01	-61.13	-44.83

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