Develia Cash Flow Statement

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

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Jun '25 Jun 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	2015 - 2019
Net Income	404.72	380.27	275.62	230.94	153.95	-138.8	Upgrade
Depreciation & Amortization	7.57	6.66	2.95	2.03	1.55	1.87	Upgrade
Gain (Loss) on Sale of Assets	-	-	-	4.04	50.85	203.87	Upgrade
Asset Writedown	9.35	-0.74	28.52	-	-	-	Upgrade
Income (Loss) on Equity Investments	-25.27	-18.87	1.98	1.1	1.07	-	Upgrade
Change in Accounts Receivable	56.31	159.61	-225.27	68.8	-67.67	99.86	Upgrade
Change in Other Net Operating Assets	299.42	204.2	336.63	-117.85	285.03	63.66	Upgrade
Other Operating Activities	74.43	56.57	350.02	67.4	7.71	12.25	Upgrade
Operating Cash Flow	408.17	311.96	106.84	169.97	86.81	59.94	Upgrade
Operating Cash Flow Growth	285.43%	191.98%	-37.14%	95.80%	44.83%	-	Upgrade
Acquisition of Real Estate Assets	-19.33	-24.47	-7.88	-29.4	-32.15	-34.87	Upgrade
Sale of Real Estate Assets	194.52	55.38	317.93	392.16	0	436.07	Upgrade
Net Sale / Acq. of Real Estate Assets	175.19	30.91	310.06	362.77	-32.15	401.21	Upgrade
Investment in Marketable & Equity Securities	46.84	-4.7	-373.23	5.81	-78.09	-75	Upgrade
Other Investing Activities	16.82	17.23	24.33	-	-	-	Upgrade
Investing Cash Flow	238.85	43.44	-38.84	368.57	-110.24	326.21	Upgrade
Long-Term Debt Issued	-	329.85	640	31.43	273.1	190.83	Upgrade
Long-Term Debt Repaid	-	-306.47	-330.71	-311.14	-188.04	-460.83	Upgrade
Net Debt Issued (Repaid)	-199.01	23.38	309.29	-279.71	85.05	-270	Upgrade
Issuance of Common Stock	9.18	9.18	10.32	-	-	-	Upgrade
Common Dividends Paid	-491.62	-226.14	-179.02	-201.4	-76.09	-44.76	Upgrade
Other Financing Activities	-84.7	-81.25	-61.73	-38.07	-29.82	-35.24	Upgrade
Net Cash Flow	-120.39	80.57	146.85	19.37	-44.28	36.15	Upgrade
Cash Interest Paid	84.71	81.25	62.72	38.07	29.82	35.24	Upgrade
Cash Income Tax Paid	90.27	104.42	60.36	18.73	68.42	49.87	Upgrade
Levered Free Cash Flow	192.82	212.4	27.24	211.38	-593.85	497.27	Upgrade
Unlevered Free Cash Flow	200.66	220.34	41.05	220.32	-582.81	509.16	Upgrade
Change in Working Capital	-62.63	-111.93	-552.26	-135.53	-128.32	-19.26	Upgrade

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.