TAG Immobilien AG Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	391.83	121.12	-396.92	113.09	570.46	393.52
Depreciation & Amortization	13.66	12.74	11.84	10.63	8.84	7.22
Gain (Loss) on Sale of Assets	-0.66	0.67	-3.24	9.1	-0.37	0.7
Gain (Loss) on Sale of Investments	-0.02	-0.02	-1.41	-0.67	-0.43	-0.09
Asset Writedown	-138.77	114.5	704.82	51.65	-539.56	-329.04
Income (Loss) on Equity Investments	-10.25	-1.64	-2.35	-	-	-
Change in Accounts Receivable	-145.16	44.05	75.35	41.38	-22.46	42.7
Change in Other Net Operating Assets	17.56	-107.21	-4.39	-107.25	29.73	-5.1
Other Operating Activities	29.68	-4.51	21.01	-1.17	-14.74	72.82
Operating Cash Flow	75.38	142.03	291.94	133.56	164.03	253.99
Operating Cash Flow Growth	-79.39%	-51.35%	118.58%	-18.57%	-35.42%	64.49%
Acquisition of Real Estate Assets	-295.42	-218.46	-157.32	-8.64	-11.67	-183.42
Sale of Real Estate Assets	90.94	133.8	274.09	95.08	47.32	27.59
Net Sale / Acq. of Real Estate Assets	-204.48	-84.66	116.77	86.44	35.64	-155.83
Cash Acquisition	-	-	-	-636.3	-308.7	-60.85
Investment in Marketable & Equity Securities	7.29	0.67	1.12	0.86	0.83	0.99
Other Investing Activities	-	-	-	-12.24	-	-
Investing Cash Flow	-197.19	-83.99	117.89	-561.23	-272.22	-215.69
Long-Term Debt Issued	-	926.23	787.3	1,346	390.43	965.01
Long-Term Debt Repaid	-	-509.9	-1,311	-823.9	-376.23	-642.46
Net Debt Issued (Repaid)	693.88	416.34	-523.73	522.51	14.21	322.55
Issuance of Common Stock	184.01	0.35	0.42	202.16	0.32	0.49
Repurchase of Common Stock	-1.51	-1.51	-	-	-	-2.16
Common Dividends Paid	-54.8	-	-	-136.15	-128.81	-119.94
Total Dividends Paid	-54.8	-	-	-136.15	-128.81	-119.94
Other Financing Activities	-17.27	-1.09	-6.1	-15	-5.01	-4.16
Foreign Exchange Rate Adjustments	-0.18	1.37	8.28	-1.25	1.58	-3.75
Net Cash Flow	682.32	473.49	-111.29	144.59	-225.92	231.33
Cash Interest Paid	70.23	60.09	59.44	52.7	43.29	44.73
Cash Income Tax Paid	51.42	50.31	21.27	3.87	34.88	6.09
Levered Free Cash Flow	56.05	-6.89	405.81	-389.38	21	184.02
Unlevered Free Cash Flow	116.97	38.46	451.18	-355.6	52.18	250.99
Change in Working Capital	-216.35	-106.53	-48.48	-54.92	135.51	104.3

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.