Retail Estates N.V. (LON:0FSO)

Retail Estates Cash Flow Statement

Financials in millions EUR. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Net Income	111.97	106.7	122.97	180.62	131.84	61.44
Depreciation & Amortization	1.6	1.58	1.24	0.79	0.71	0.41
Other Amortization	0.17	0.17	0.17	0.17	0.15	-0.13
Gain (Loss) on Sale of Assets	-0.05	-0.39	0.4	-0.14	-0.33	-0.83
Gain (Loss) on Sale of Investments	0.01	0.02	0.1	0.09	0.22	-2.51
Asset Writedown	-24.91	-27.83	-51.37	-55.92	-23.11	5.96
Change in Accounts Receivable	-2	-1.24	-3.88	-9.81	4.63	-3.3
Change in Accounts Payable	-1.49	-3.01	-6.09	6.62	-6.57	8.16
Change in Other Net Operating Assets	0.54	0.67	0.64	12.14	-4.53	-0.4
Other Operating Activities	4.56	13.07	16.49	-41.64	-33.16	-0.99
Operating Cash Flow	87.21	95.46	75.86	93.69	81.17	62.32
Operating Cash Flow Growth	-7.66%	25.83%	-19.03%	15.43%	30.25%	16.66%
Acquisition of Real Estate Assets	-31.56	-31.06	-98.71	-79.2	-25.55	-107.01
Sale of Real Estate Assets	20.66	7.78	12.26	9.54	37.83	43.34
Net Sale / Acq. of Real Estate Assets	-10.89	-23.29	-86.46	-69.66	12.28	-63.67
Investment in Marketable & Equity Securities	-	-	-2.63	-	-5.61	-2.25
Other Investing Activities	0.01	0.01	0.13	2.67	-1.03	-
Investing Cash Flow	-11.3	-24.01	-92.29	-69.56	2.97	-66.41
Long-Term Debt Issued	-	142.35	223.25	197.2	113.8	153.25
Long-Term Debt Repaid	-	-165.43	-151.46	-222.09	-144.48	-189.94
Net Debt Issued (Repaid)	-18.81	-23.08	71.79	-24.89	-30.68	-36.69
Issuance of Common Stock	19.74	19.74	16.9	55	-	-
Common Dividends Paid	-76.52	-71.88	-69.02	-60.84	-57	-53.4
Other Financing Activities	0.01	-0.4	-0.27	9.25	1.35	-0.22
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	0
Net Cash Flow	0.33	-4.17	2.96	2.65	-2.2	-94.4
Cash Interest Paid	18.34	19.16	22.22	16.89	17.63	19.14
Cash Income Tax Paid	6.14	2.45	1.59	-7.51	4.09	2.88
Levered Free Cash Flow	61.52	53.28	40.96	60.37	48.4	35.3
Unlevered Free Cash Flow	73.94	65.75	54.3	72.09	59.8	48.3
Change in Working Capital	-6.86	0.9	-14.84	9.28	4.72	-3.18

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