ARGO Properties Cash Flow Statement

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

Millions EUR. 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	67.32	35.18	-43.5	27.28	58.83
Other Amortization	-	0.77	0.64	0.72	0.44
Asset Writedown	-58.55	-41.82	56.82	-27.02	-63.74
Stock-Based Compensation	0.26	3.55	2.45	1.99	1.39
Change in Other Net Operating Assets	1.12	-0.22	-0.72	-0.85	0.78
Other Operating Activities	11.41	18.45	-2.79	6.73	9.76
Operating Cash Flow	29.94	18.42	12.9	8.84	7.45
Operating Cash Flow Growth	62.54%	42.81%	45.90%	18.73%	49.15%
Acquisition of Real Estate Assets	-98.52	-63.28	-69.68	-147.09	-120.58
Net Sale / Acq. of Real Estate Assets	-98.52	-63.28	-69.68	-147.09	-120.58
Investment in Marketable & Equity Securities	-	-	-	1.85	1.64
Other Investing Activities	-23.85	-9.61	3.74	-10.23	-2.75
Investing Cash Flow	-122.37	-72.89	-65.94	-155.47	-121.69
Long-Term Debt Issued	120.73	43.64	58.13	175.66	67.38
Total Debt Issued	120.73	43.64	58.13	175.66	67.38
Long-Term Debt Repaid	-9.98	-15.7	-13.32	-29.87	-5.23
Total Debt Repaid	-9.98	-15.7	-13.32	-29.87	-5.23
Net Debt Issued (Repaid)	110.75	27.93	44.81	145.79	62.15
Issuance of Common Stock	11.42	50.44	-	-	50.87
Other Financing Activities	-10.78	-9.21	-7.6	-6.49	-1.76
Foreign Exchange Rate Adjustments	0.06	1.28	0.06	-0.39	1.77
Miscellaneous Cash Flow Adjustments	-	-	-0.03	-	-
Net Cash Flow	19.02	15.97	-15.79	-7.72	-1.22
Cash Interest Paid	-	9.21	7.11	4.76	1.76
Levered Free Cash Flow	-28.65	-1.81	8.81	-13.54	15.27
Unlevered Free Cash Flow	-21.29	4.11	13.38	-10.79	16.13
Change in Working Capital	9.51	2.29	-0.72	-0.85	0.78

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.