MGRUF Cash Flow Statement

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

Millions CAD. 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	-16.56	-58.82	-74.45	-86.1	4.89
Depreciation & Amortization	-	0.08	0.08	0.08	0.08
Other Amortization	-	2.84	2.13	1.89	2.39
Asset Writedown	-	114.45	131.77	148.98	60.97
Income (Loss) on Equity Investments	1.31	3.55	3.9	6.92	1.92
Change in Accounts Receivable	-	1.29	6.4	-3.47	15.49
Change in Accounts Payable	-	-3.23	5.2	8.67	-2.96
Change in Other Net Operating Assets	-1.51	-2.21	-0.03	-0.84	0.27
Other Operating Activities	57.17	-3.48	-8.69	-2.17	-2.87
Operating Cash Flow	40.41	54.46	66.32	73.97	80.19
Operating Cash Flow Growth	-25.80%	-17.89%	-10.34%	-7.76%	70.91%
Acquisition of Real Estate Assets	-36.33	-42.33	-39.04	-32.42	-17.45
Sale of Real Estate Assets	-	37.05	-	-	14.5
Net Sale / Acq. of Real Estate Assets	-36.33	-5.28	-39.04	-32.42	-2.95
Investing Cash Flow	-36.33	-5.28	-39.04	-32.42	-2.95
Short-Term Debt Issued	15	70	-	48.1	-
Long-Term Debt Issued	184.47	370.24	353.53	132.69	363.75
Total Debt Issued	199.47	440.24	353.53	180.78	363.75
Short-Term Debt Repaid	-18.11	-125	-43.89	-	-39.89
Long-Term Debt Repaid	-181.79	-345.76	-322.67	-207.5	-381.11
Total Debt Repaid	-199.89	-470.76	-366.55	-207.5	-421
Net Debt Issued (Repaid)	-0.42	-30.52	-13.02	-26.71	-57.25
Common Dividends Paid	-3.78	-15.3	-15.2	-16.03	-16.47
Other Financing Activities	-0.69	-2.74	-1.5	-0.37	-0.9
Net Cash Flow	-0.81	0.62	-2.43	-1.56	2.62
Cash Interest Paid	-	63.81	60.56	51.72	50.09
Levered Free Cash Flow	31.24	36.29	51.3	47.09	58.08
Unlevered Free Cash Flow	70.91	75.86	88.89	78.98	89.43
Change in Working Capital	-1.51	-4.15	11.57	4.36	12.8

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