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	2016 - 2020
Period Ending	Mar '25 Mar 31, 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	2016 - 2020
Net Income	360.88	380.27	275.62	230.94	153.95	-138.8	Upgrade
Depreciation & Amortization	7.41	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	-1.42	-0.74	28.52	-	-	-	Upgrade
Income (Loss) on Equity Investments	-32.81	-18.87	1.98	1.1	1.07	-	Upgrade
Change in Accounts Receivable	23.38	159.61	-225.27	68.8	-67.67	99.86	Upgrade
Change in Other Net Operating Assets	461.81	204.2	336.63	-117.85	285.03	63.66	Upgrade
Other Operating Activities	53.93	56.57	350.02	67.4	7.71	12.25	Upgrade
Operating Cash Flow	284.44	311.96	106.84	169.97	86.81	59.94	Upgrade
Operating Cash Flow Growth	-	191.98%	-37.14%	95.80%	44.83%	-	Upgrade
Acquisition of Real Estate Assets	-19.51	-24.47	-7.88	-29.4	-32.15	-34.87	Upgrade
Sale of Real Estate Assets	50.5	55.38	317.93	392.16	0	436.07	Upgrade
Net Sale / Acq. of Real Estate Assets	31	30.91	310.06	362.77	-32.15	401.21	Upgrade
Investment in Marketable & Equity Securities	-45.1	-4.7	-373.23	5.81	-78.09	-75	Upgrade
Other Investing Activities	18.07	17.23	24.33	-	-	-	Upgrade
Investing Cash Flow	3.96	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)	4.08	23.38	309.29	-279.71	85.05	-270	Upgrade
Issuance of Common Stock	9.18	9.18	10.32	-	-	-	Upgrade
Common Dividends Paid	-226.14	-226.14	-179.02	-201.4	-76.09	-44.76	Upgrade
Other Financing Activities	-86.97	-81.25	-61.73	-38.07	-29.82	-35.24	Upgrade
Net Cash Flow	-11.45	80.57	146.85	19.37	-44.28	36.15	Upgrade
Cash Interest Paid	86.98	81.25	62.72	38.07	29.82	35.24	Upgrade
Cash Income Tax Paid	92.17	104.42	60.36	18.73	68.42	49.87	Upgrade
Levered Free Cash Flow	137.14	212.4	27.24	211.38	-593.85	497.27	Upgrade
Unlevered Free Cash Flow	146.4	220.34	41.05	220.32	-582.81	509.16	Upgrade
Change in Working Capital	-103.55	-111.93	-552.26	-135.53	-128.32	-19.26	Upgrade

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