Ravelin Properties REIT Cash Flow Statement

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

Millions CAD. 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	-140.8	-456.53	-119.78	-16.62	46.64	13.65
Depreciation & Amortization	0.46	1	0.97	0.97	1.02	1.06
Other Amortization	14.09	15.77	15.39	14.53	11.9	-
Gain (Loss) on Sale of Investments	4.6	13.02	12.93	-36.58	-	-
Asset Writedown	121.3	437.77	138.22	87.67	-8.71	0.11
Change in Other Net Operating Assets	5.53	14.42	13.92	8.22	-1.61	2.31
Other Operating Activities	27.61	7.32	-20.44	-6.51	-8.9	31.43
Operating Cash Flow	32.79	32.78	41.19	51.68	40.34	48.56
Operating Cash Flow Growth	34.16%	-20.44%	-20.28%	28.09%	-16.92%	-6.38%
Acquisition of Real Estate Assets	-30.56	-26.01	-31.7	-258.77	-37.56	-42.67
Sale of Real Estate Assets	75.14	105.02	-	85.49	35.09	28.66
Net Sale / Acq. of Real Estate Assets	44.58	79.01	-31.7	-173.27	-2.47	-14.01
Other Investing Activities	-	-	-	81.04	-134.96	3.29
Investing Cash Flow	48.69	82.83	-26.36	-88.37	-134.27	-7.89
Long-Term Debt Issued	-	3.21	62.05	130.86	115.94	134.87
Long-Term Debt Repaid	-	-113.01	-58	-99.52	-38.73	-131.87
Net Debt Issued (Repaid)	-76.16	-109.79	4.05	31.34	77.22	3
Issuance of Common Stock	-	-	-	62.6	55	-
Repurchase of Common Stock	-0.23	-	-	-0.71	-	-0.36
Common Dividends Paid	-	-	-17.34	-33.32	-29.19	-29.2
Other Financing Activities	-3.08	-3.77	-2.99	-12.28	-7.7	-11.53
Foreign Exchange Rate Adjustments	0.37	0.28	-7.19	-0.95	-0.02	-0.18
Net Cash Flow	2.38	2.32	-8.64	10	1.39	2.4
Cash Interest Paid	45.52	58.61	59.54	46.46	40.14	39.47
Levered Free Cash Flow	82.41	103.25	-93.1	138.38	-38.67	1.12
Unlevered Free Cash Flow	125.32	150.49	-50.11	144.37	-44.7	47.97
Change in Working Capital	5.53	14.42	13.92	8.22	-1.61	2.31

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