IMMQF Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	19.52	-30.08	-81.73	-22.32	52.77	-74.32
Depreciation & Amortization	4.7	3.35	2.37	0.72	0.54	0.47
Other Amortization	-	-	-	4.63	5.07	9.59
Gain (Loss) on Sale of Assets	-	-	-	-0.4	-0.94	-
Gain (Loss) on Sale of Investments	1.19	29.15	0.05	-	-	-
Asset Writedown	11.58	31.14	138.02	73.92	16.33	146.82
Income (Loss) on Equity Investments	-	-	-	-	0.03	0.07
Change in Accounts Receivable	0.17	-1.74	5.27	-0.86	-0.53	-18
Change in Accounts Payable	-4.31	-9.48	0.02	7.58	4.42	-4.4
Change in Other Net Operating Assets	-2.33	0.11	-4.47	-3.44	-3.59	-0.3
Other Operating Activities	10.67	21.7	12.47	17.94	4.18	-14.3
Operating Cash Flow	44.55	46.46	77.38	82.98	78.68	54.03
Operating Cash Flow Growth	20.80%	-39.95%	-6.75%	5.47%	45.61%	-41.62%
Acquisition of Real Estate Assets	-15.04	-19.06	-22.59	-32.05	-18.41	-14.84
Sale of Real Estate Assets	15.4	3.6	-	-	113.82	0.04
Net Sale / Acq. of Real Estate Assets	0.35	-15.47	-22.59	-32.05	95.41	-14.8
Investment in Marketable & Equity Securities	-0.19	-0.01	-	-	0.05	-
Other Investing Activities	-	153.17	-	-	-	-
Investing Cash Flow	-0.2	137.35	-23.18	-32.7	95.16	-14.81
Long-Term Debt Issued	-	15.76	256	288.95	-	34.68
Total Debt Issued	611.88	15.76	256	288.95	-	34.68
Long-Term Debt Repaid	-	-200.9	-298.06	-431.94	-133.01	-59.99
Total Debt Repaid	-647.16	-200.9	-298.06	-431.94	-133.01	-59.99
Net Debt Issued (Repaid)	-35.28	-185.14	-42.06	-142.99	-133.01	-25.31
Issuance of Common Stock	-	-	-	-	-	0.2
Common Dividends Paid	-11.02	-	-33.1	-38.33	-	-25.15
Other Financing Activities	-0.41	-0	-	-	-	-0.2
Foreign Exchange Rate Adjustments	-0.12	-0	-0.04	0.03	-0.09	-0.1
Net Cash Flow	-2.47	-1.33	-21	-131.01	40.74	-11.34
Cash Interest Paid	47.14	44.97	36.28	27.38	-	-
Cash Income Tax Paid	1.18	-	-	1.07	0.99	0.79
Levered Free Cash Flow	46.61	32.84	53.98	27.17	41.3	25.83
Unlevered Free Cash Flow	46.61	32.84	53.98	41.63	57.43	38.95
Change in Working Capital	-4.03	-9.93	5.76	7.95	-2.74	-25.3

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