Montea Comm. VA 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	163.26	171.53	118.54	204.51	227.69
Depreciation & Amortization	0.39	0.37	0.34	0.43	0.35
Gain (Loss) on Sale of Assets	-	-	-	-0.02	-0.45
Gain (Loss) on Sale of Investments	0.7	-	-	-	-
Asset Writedown	-52.66	-85.4	-11.87	-92.86	-175.39
Stock-Based Compensation	0.21	-2.94	0.52	-7.75	0.06
Income (Loss) on Equity Investments	-5.91	-	-	-	-
Change in Accounts Receivable	-12.14	-6.68	9.94	-9.88	-6.96
Change in Accounts Payable	-2.24	16.18	-1.81	10.99	2.47
Other Operating Activities	27.62	22.63	-4	-20.79	25.34
Operating Cash Flow	119.88	115.67	111.97	84.46	73.52
Operating Cash Flow Growth	3.64%	3.30%	32.58%	14.88%	4.93%
Acquisition of Real Estate Assets	-195.5	-417.78	-80.12	-291.83	-84.74
Sale of Real Estate Assets	5.9	-	-	0.05	15.4
Net Sale / Acq. of Real Estate Assets	-189.59	-417.78	-80.12	-291.77	-69.35
Investment in Marketable & Equity Securities	-84.22	-1.87	-6.22	-70.6	-81.65
Other Investing Activities	-	-	0	-	0.01
Investing Cash Flow	-273.81	-419.65	-86.34	-362.37	-151
Long-Term Debt Issued	247.87	120.3	-	280.06	127.63
Long-Term Debt Repaid	-	-	-79.33	-	-
Net Debt Issued (Repaid)	247.87	120.3	-79.33	280.06	127.63
Issuance of Common Stock	19.03	205.78	145.22	120.21	16.23
Common Dividends Paid	-86.06	-75.53	-59.23	-49.11	-45.31
Other Financing Activities	-33.72	-21.03	-12.45	-20.66	-10.96
Miscellaneous Cash Flow Adjustments	-	-	-	-	0
Net Cash Flow	-6.82	-74.47	19.84	52.59	10.12
Cash Interest Paid	-	21.03	12.45	20.66	10.96
Levered Free Cash Flow	56.32	58.85	61.36	38.87	40.75
Unlevered Free Cash Flow	69	67.52	73.08	50.08	47.93
Change in Working Capital	-14.38	9.5	8.13	1.11	-4.49

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