BTB Real Estate Investment Trust (BTBIF)

BTBIF Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	42.15	38.74	36.6	38.15	41.57	2.92
Depreciation & Amortization	0.09	0.07	0.1	0.12	0.09	0.1
Other Amortization	3.45	3.17	2.78	3.11	3.29	3.07
Asset Writedown	-11.66	-9.8	-1.92	9.3	-19.46	10.24
Stock-Based Compensation	1.11	0.94	0.45	0.54	1.07	0.18
Change in Other Net Operating Assets	-1.95	-2.59	1.61	1.29	3.93	-1.47
Other Operating Activities	35.81	35.47	31.24	13.72	26.05	31.1
Operating Cash Flow	69.02	66	70.85	66.24	56.54	46.15
Operating Cash Flow Growth	-0.09%	-6.84%	6.96%	17.16%	22.52%	-2.28%
Acquisition of Real Estate Assets	-15.69	-22.35	-46.38	-121.3	-73.44	-25.14
Sale of Real Estate Assets	12.48	2.77	-	30.79	1.71	37.27
Net Sale / Acq. of Real Estate Assets	-3.21	-19.58	-46.38	-90.51	-71.73	12.13
Investing Cash Flow	-3.21	-19.58	-46.38	-90.51	-71.73	12.13
Short-Term Debt Issued	-	7.78	26.35	23.96	35.47	6.86
Long-Term Debt Issued	-	116.7	48.87	102.56	93.65	53.7
Total Debt Issued	96.93	124.48	75.22	126.52	129.12	60.56
Short-Term Debt Repaid	-	-	-	-49.63	-15.3	-4.02
Long-Term Debt Repaid	-	-113.91	-47.37	-46.25	-90.47	-66.6
Total Debt Repaid	-102.27	-113.91	-47.37	-95.87	-105.77	-70.62
Net Debt Issued (Repaid)	-5.34	10.57	27.85	30.65	23.35	-10.06
Issuance of Common Stock	-	-	-	38.44	30.27	-
Common Dividends Paid	-24.97	-22.64	-22.29	-21.57	-18.17	-19.01
Other Financing Activities	-33.23	-32.8	-31.52	-28.03	-22.13	-21.94
Net Cash Flow	2.27	1.56	-1.49	-4.79	-1.87	7.26
Cash Interest Paid	33.02	32.59	31.32	27.93	21.76	21.79
Levered Free Cash Flow	20.55	19.4	15.27	23.29	22.88	14.42
Unlevered Free Cash Flow	43.79	42.68	37.01	42.05	38.17	29.93
Change in Working Capital	-1.95	-2.59	1.61	1.29	3.93	-1.47

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