Mercialys 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	31.44	53.76	53.37	43.09	62.18	85.83
Depreciation & Amortization	36.14	36.78	37.39	36.65	37.64	39.34
Other Amortization	1.04	1.04	1.15	1.08	1.52	1.44
Gain (Loss) on Sale of Assets	13.14	13.41	-0.77	-8.49	-8.96	-47.54
Asset Writedown	-7.78	-7.78	23.21	6.6	8.59	13.32
Stock-Based Compensation	1.03	0.88	0.76	0.77	-0.05	0.02
Income (Loss) on Equity Investments	-1.67	-2.43	-1.73	-2.38	-2.26	3.7
Change in Accounts Receivable	-1.69	6.9	-14.82	8.68	-8.23	4.14
Change in Accounts Payable	3.79	1.65	-4.65	-2.86	1.09	1.56
Change in Other Net Operating Assets	0.25	4.49	1.31	0.52	0.71	0.79
Other Operating Activities	76.61	49.84	45.67	57.75	34.63	23.97
Operating Cash Flow	151.59	161.54	134.27	150.12	135.74	134.89
Operating Cash Flow Growth	-4.26%	20.31%	-10.56%	10.60%	0.64%	-12.96%
Acquisition of Real Estate Assets	-99.1	-28.78	-22.53	-19.1	-15.91	-61.59
Sale of Real Estate Assets	129.45	131.2	3.96	81.16	30.75	188.39
Net Sale / Acq. of Real Estate Assets	30.36	102.42	-18.57	62.06	14.83	126.79
Cash Acquisition	-24.27	-	-	-4.29	-	-
Investment in Marketable & Equity Securities	-0.4	-0.2	-3.17	1.23	-0.11	-1.83
Other Investing Activities	-0	-0	-0	-	0	-0
Investing Cash Flow	5.68	102.22	-21.74	59	14.72	126.76
Long-Term Debt Issued	-	518.71	109	754.81	230	1,097
Long-Term Debt Repaid	-	-423.36	-193.44	-881.62	-527.69	-902.76
Net Debt Issued (Repaid)	391.89	95.35	-84.44	-126.81	-297.69	194.41
Issuance of Common Stock	0.59	-	-	-	0.26	-
Repurchase of Common Stock	-3.41	-3.41	-0.74	-0.44	-	-1.83
Common Dividends Paid	-93.46	-92.64	-89.57	-86.03	-22.4	-43.96
Other Financing Activities	-98.98	-97.56	-35.63	-36.92	-38.18	-17.68
Miscellaneous Cash Flow Adjustments	0	-	-	-	0	-0
Net Cash Flow	353.91	165.5	-97.84	-41.07	-207.53	392.59
Cash Interest Paid	57.36	57.76	43.73	52.48	45.47	32.93
Cash Income Tax Paid	1.01	0.71	0.57	1.03	0.41	3.3
Levered Free Cash Flow	199.39	96.4	55.72	151.25	10.09	78.54
Unlevered Free Cash Flow	222.27	118.36	77.43	169.95	33.14	98.19
Change in Working Capital	2.35	13.04	-18.15	6.33	-6.43	6.49

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