MERLIN Properties SOCIMI, S.A. (LON:0QVM)

MERLIN Properties SOCIMI Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	283.76	-83.5	263.09	512.22	56.36
Depreciation & Amortization	4.35	2.08	1.89	1.86	1.61
Gain (Loss) on Sale of Assets	-5.35	7.02	-11.56	1.87	14.3
Asset Writedown	1.07	335.98	249.27	-195.5	84.47
Income (Loss) on Equity Investments	-14.07	-39.92	-24.03	-34.56	3.44
Change in Accounts Receivable	2.5	-12.76	-1.68	-5.7	-4.85
Change in Accounts Payable	28.22	5.35	19.61	-30.55	-52.56
Change in Other Net Operating Assets	4.14	-21.2	-21.76	19.91	-7.1
Other Operating Activities	15.21	41.38	-246.86	-101.82	72.19
Operating Cash Flow	316.78	227.97	222.16	162.46	134.66
Operating Cash Flow Growth	38.96%	2.61%	36.74%	20.65%	-54.33%
Acquisition of Real Estate Assets	-311.48	-309.27	-370.81	-184.72	-253.11
Sale of Real Estate Assets	71.28	40.78	109.4	101.35	25.31
Net Sale / Acq. of Real Estate Assets	-240.2	-268.49	-261.4	-83.37	-227.8
Cash Acquisition	-	-	-	-0	-
Investment in Marketable & Equity Securities	-53.47	-5.35	-5.59	8.71	-1.5
Other Investing Activities	-	-	1,452	75.56	-
Investing Cash Flow	-294.38	-274.75	1,184	-0.45	-229.87
Long-Term Debt Issued	390.9	1,022	81.76	494.65	622.95
Total Debt Issued	390.9	1,022	81.76	494.65	622.95
Long-Term Debt Repaid	-13.65	-744.41	-1,400	-0.71	-461.19
Total Debt Repaid	-13.65	-744.41	-1,400	-0.71	-461.19
Net Debt Issued (Repaid)	377.26	277.22	-1,318	493.94	161.76
Issuance of Common Stock	0.06	0.42	-	-	-
Repurchase of Common Stock	-	-	-0.14	-0.01	-0.03
Common Dividends Paid	-105.17	-93.67	-104.26	-70.03	-68.52
Other Financing Activities	796.9	7.95	73.43	-88.51	-
Net Cash Flow	1,091	31.77	-294.03	497.4	-1.99
Cash Interest Paid	119.41	109.3	100.59	103.86	126.7
Cash Income Tax Paid	-1.2	-1.99	1.53	3.66	1.75
Levered Free Cash Flow	188.83	170.33	180.33	196.27	-10.11
Unlevered Free Cash Flow	270.21	238.78	244.94	266.9	74.93
Change in Working Capital	31.83	-35.08	-9.64	-21.6	-97.71

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