Frey SA 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	Jun '25 Jun 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	6.27	40	18.86	129.38	65.43	2.37
Depreciation & Amortization	4	4.05	4.06	1.64	3.43	1.72
Gain (Loss) on Sale of Assets	-1.01	-1.4	1.73	-1.8	-1.9	2.66
Asset Writedown	-11.34	-23.79	-14.66	-38.94	-28.76	19.26
Income (Loss) on Equity Investments	4.17	4.51	-1.17	-3.25	-2.52	1.83
Change in Accounts Receivable	16.7	18.24	-8.25	14.51	13.02	-15.14
Change in Accounts Payable	3.42	0.35	3.68	4.51	-4.54	-3.73
Change in Other Net Operating Assets	-9.27	-11.87	-8.66	2.72	-2.61	-0.32
Other Operating Activities	100.7	79.85	76.97	-41.9	8.33	18.71
Operating Cash Flow	113.84	110.72	61.04	58.77	51.53	37.84
Operating Cash Flow Growth	45.61%	81.39%	3.86%	14.06%	36.16%	32.01%
Acquisition of Real Estate Assets	-364.96	-117.09	-150.83	-140.62	-120.43	-83.16
Sale of Real Estate Assets	157.32	190.32	128.61	59.56	52.29	3.1
Net Sale / Acq. of Real Estate Assets	-207.63	73.23	-22.22	-81.06	-68.15	-80.06
Cash Acquisition	-5.79	-5.94	-245.12	-129.78	-69.94	-14.64
Investment in Marketable & Equity Securities	-	-	-	-	0.15	0.6
Investing Cash Flow	-220.95	66.02	-267.08	-209.86	-148.88	-106.04
Long-Term Debt Issued	-	609.52	618.05	475.39	430.35	152.21
Long-Term Debt Repaid	-	-391.83	-424.98	-275.84	-367.13	-85.09
Net Debt Issued (Repaid)	167.22	217.7	193.06	199.55	63.22	67.12
Issuance of Common Stock	-	3.67	96.15	-	101.34	-
Repurchase of Common Stock	-1.09	-	-11.69	-1.39	-1.71	-6.37
Common Dividends Paid	-	-57.14	-47.68	-45.36	-26.62	-25.65
Other Financing Activities	-47.79	-92.71	-22.98	-13.89	-10.55	-8.34
Foreign Exchange Rate Adjustments	-0.19	0.05	0.13	-	-	-
Miscellaneous Cash Flow Adjustments	-0	-0	-	-	-	-
Net Cash Flow	11.03	248.31	0.94	-12.18	28.34	-41.44
Cash Interest Paid	42.9	41.34	22.98	13.89	10.55	8.34
Cash Income Tax Paid	5.87	5.16	2.22	3.88	1.3	1.72
Levered Free Cash Flow	36.47	-43.42	88.3	-9.59	4.86	0.28
Unlevered Free Cash Flow	92.02	14.04	142.71	-38.87	4.73	4.63
Change in Working Capital	11.04	7.48	-24.75	13.64	7.52	-8.7

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