ARGO Properties Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	69.41	67.32	35.18	-43.5	27.28	58.83
Other Amortization	0.92	0.92	0.77	0.64	0.72	0.44
Asset Writedown	-61.42	-58.55	-41.82	56.82	-27.02	-63.74
Stock-Based Compensation	0.16	0.26	3.55	2.45	1.99	1.39
Change in Other Net Operating Assets	3.29	1.12	-0.22	-0.72	-0.85	0.78
Other Operating Activities	13.84	10.49	18.45	-2.79	6.73	9.76
Operating Cash Flow	38.49	29.94	18.42	12.9	8.84	7.45
Operating Cash Flow Growth	83.97%	62.54%	42.81%	45.90%	18.73%	49.15%
Acquisition of Real Estate Assets	-106.71	-98.52	-63.28	-69.68	-147.09	-120.58
Net Sale / Acq. of Real Estate Assets	-106.71	-98.52	-63.28	-69.68	-147.09	-120.58
Investment in Marketable & Equity Securities	-	-	-	-	1.85	1.64
Other Investing Activities	-24.61	-23.85	-9.61	3.74	-10.23	-2.75
Investing Cash Flow	-131.32	-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	169.88	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	-40.54	-9.98	-15.7	-13.32	-29.87	-5.23
Net Debt Issued (Repaid)	129.34	110.75	27.93	44.81	145.79	62.15
Issuance of Common Stock	11.42	11.42	50.44	-	-	50.87
Other Financing Activities	-11.97	-10.78	-9.21	-7.6	-6.49	-1.76
Foreign Exchange Rate Adjustments	1.57	0.06	1.28	0.03	-0.39	1.77
Net Cash Flow	37.53	19.02	15.97	-15.79	-7.72	-1.22
Cash Interest Paid	10.53	10.53	9.21	7.11	4.76	1.76
Levered Free Cash Flow	-25.3	-26.07	0.39	8.81	-13.54	15.27
Unlevered Free Cash Flow	-16.84	-18.51	6.31	13.38	-10.79	16.13
Change in Working Capital	15.59	9.51	2.29	-0.72	-0.85	0.78