Unite Group Cash Flow Statement

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

Millions GBP. 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	97.6	441.9	102.5	350.5	342.4
Depreciation & Amortization	6.9	5.7	6.3	7.8	7.8
Gain (Loss) on Sale of Assets	1.3	9.8	-11.8	15.6	12
Gain (Loss) on Sale of Investments	4.9	4.6	4.5	4	19.1
Asset Writedown	85.2	-184.8	47.6	-103.4	-105.7
Stock-Based Compensation	1.5	2.4	3.4	1.6	2.4
Income (Loss) on Equity Investments	-57.7	-115.9	-27	-80.4	-122.2
Change in Accounts Receivable	6.7	-12	-24.8	3.6	-52.5
Change in Accounts Payable	-20.8	48.2	24.4	-10.7	34.2
Other Operating Activities	44.7	21.8	41.6	-33.5	36.7
Operating Cash Flow	166.5	216.4	153.2	154.1	171.3
Operating Cash Flow Growth	-23.06%	41.25%	-0.58%	-10.04%	133.70%
Acquisition of Real Estate Assets	-246.7	-618.2	-136.2	-317.8	-96.3
Sale of Real Estate Assets	91	123.1	-	234.1	307.3
Net Sale / Acq. of Real Estate Assets	-155.7	-495.1	-136.2	-83.7	211
Investment in Marketable & Equity Securities	-11.7	27.9	-	-144.6	-
Other Investing Activities	35.6	44.3	28.6	38.7	37.1
Investing Cash Flow	-140.4	-428	-109.4	-191.9	244.9
Long-Term Debt Issued	135	543.7	-	105.7	147
Long-Term Debt Repaid	-162.9	-359.3	-190.2	-	-675
Net Debt Issued (Repaid)	-27.9	184.4	-190.2	105.7	-528
Issuance of Common Stock	-	442	294.9	1.1	1.1
Repurchase of Common Stock	-0.8	-1.5	-0.6	-1.7	-1.3
Common Dividends Paid	-153.7	-124.2	-103.4	-85.1	-57.2
Other Financing Activities	-82.2	-52.3	-45	-53.6	-59.7
Net Cash Flow	-238.5	236.8	-0.5	-71.4	-228.9
Cash Interest Paid	47.5	35.6	31.1	43.6	47.9
Cash Income Tax Paid	4.4	-4.9	1.8	1.4	-
Levered Free Cash Flow	185.23	100.49	29.71	367.03	-52.2
Unlevered Free Cash Flow	213.6	120.93	60.34	348.9	-29.64
Change in Working Capital	-17.9	30.9	-13.9	-8.1	-21.2