ISE:IRES 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	49.75	-6.68	-116.01	-11.82	67.55
Depreciation & Amortization	0.68	0.59	0.54	0.54	0.52
Other Amortization	2	1.36	2.08	2	1.64
Gain (Loss) on Sale of Assets	-3.43	-1.62	0.42	-2.8	-0.91
Asset Writedown	-16.99	33.75	141.79	45.6	-34.93
Stock-Based Compensation	0.42	0.31	0.15	0.12	0.28
Change in Accounts Receivable	0.36	-0.43	0.46	-0.3	-0.13
Change in Accounts Payable	0.77	-0.08	1.87	-3	4.27
Change in Other Net Operating Assets	-0.23	1.7	-1.23	-0.01	0.64
Other Operating Activities	23.4	21.71	27.05	15.54	13.53
Operating Cash Flow	57.08	50.75	57.02	46.58	53.09
Operating Cash Flow Growth	12.48%	-11.00%	22.41%	-12.25%	9.32%
Acquisition of Real Estate Assets	-11.34	-9.19	-7.62	-92.6	-76.96
Sale of Real Estate Assets	15.66	18.4	88.7	54.93	4.36
Net Sale / Acq. of Real Estate Assets	4.32	9.21	81.08	-37.67	-72.6
Cash Acquisition	-	-	-	-2.76	-5.47
Other Investing Activities	-	-	0	-	-
Investing Cash Flow	4.32	9.21	81.09	-40.43	-78.07
Long-Term Debt Issued	373.14	12.8	10.7	93	89.5
Long-Term Debt Repaid	-377.11	-30.42	-95.12	-56.41	-23.9
Net Debt Issued (Repaid)	-3.97	-17.62	-84.42	36.59	65.6
Issuance of Common Stock	-	-	-	0.13	4.47
Repurchase of Common Stock	-5	-	-	-	-
Other Financing Activities	-28.14	-22.31	-24.94	-17.76	-13.66
Net Cash Flow	0.26	-0.51	0.9	-3.38	-0.85
Cash Interest Paid	21.74	22.28	24.58	15.45	12.83
Cash Income Tax Paid	-0.06	1.49	0.09	0.01	-
Levered Free Cash Flow	22.63	13.44	21.52	29.81	29.55
Unlevered Free Cash Flow	35.2	29.38	37.96	39.09	37.25
Change in Working Capital	0.9	1.19	1.1	-3.31	4.79