CPI Property Group 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	185.6	-192.4	-823.9	533.6	1,278
Depreciation & Amortization	19.1	28	45.9	44.6	35.3
Other Amortization	2.5	1.6	1.3	1.6	1.2
Gain (Loss) on Sale of Assets	-7	12.8	34.4	-35.9	-34.5
Gain (Loss) on Sale of Investments	0.7	18.9	-	-	-
Asset Writedown	-195.6	342.7	1,100	121.5	-1,261
Income (Loss) on Equity Investments	-21.2	14.9	20.2	-19.1	-15.2
Change in Accounts Receivable	91.4	39.2	63.4	-56.8	-50.1
Change in Accounts Payable	4.6	45.7	-17.2	88.6	4.6
Change in Other Net Operating Assets	-27.5	34	-0.6	14.8	0.4
Other Operating Activities	444.9	351.7	247.7	-167.8	425.4
Operating Cash Flow	452.1	732.4	669.5	531.6	413.8
Operating Cash Flow Growth	-38.27%	9.40%	25.94%	28.47%	66.39%
Acquisition of Real Estate Assets	-366.3	-412.9	-413.3	-691	-452.4
Sale of Real Estate Assets	464.6	498.3	380.4	363.5	59.1
Net Sale / Acq. of Real Estate Assets	98.3	85.4	-32.9	-327.5	-393.3
Cash Acquisition	-253.1	-1.8	-12	-1,553	-515.1
Investment in Marketable & Equity Securities	-168	-62.4	-10.4	-29.7	-461.8
Other Investing Activities	34.5	30	3	53.3	-188.6
Investing Cash Flow	-10.3	848.1	75.5	-1,591	-1,191
Long-Term Debt Issued	1,191	2,274	3,045	5,423	1,494
Long-Term Debt Repaid	-1,332	-3,324	-3,245	-3,353	-1,231
Net Debt Issued (Repaid)	-140.6	-1,050	-199.5	2,071	263.5
Issuance of Common Stock	452.2	-	-	-	1,006
Repurchase of Common Stock	-	-145.2	-79.5	-218.1	-476.6
Common Dividends Paid	-106.6	-102.3	-75.2	-75.4	-61.2
Other Financing Activities	-702.9	-215.3	-386.9	-186.4	-88.4
Miscellaneous Cash Flow Adjustments	-12.5	-7.9	-14.5	-	3.2
Net Cash Flow	-68.6	59.4	-10.6	531.4	-130.5
Cash Interest Paid	369.1	339	386.9	186.4	88.4
Cash Income Tax Paid	110.6	109.7	62.6	45.1	20.9
Levered Free Cash Flow	-195.26	589.95	29.24	239.21	-273.53
Unlevered Free Cash Flow	34.05	816.26	246.74	370.59	-212.71
Change in Working Capital	18.2	143.8	26.7	34.6	-16.3

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