TSX:ERE.UN 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	2020 - 2017
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	2020 - 2017
Net Income	-70.51	-64.29	-114.23	116.42	96.14	Upgrade
Other Amortization	0.61	1.23	1.17	1.11	0.87	Upgrade
Gain (Loss) on Sale of Investments	1.37	7.13	7.87	-22.84	-0.42	Upgrade
Asset Writedown	42.61	-62.02	230.23	89.99	-194.58	Upgrade
Stock-Based Compensation	0.54	0	-1.22	-1.59	0.76	Upgrade
Change in Accounts Receivable	1.25	-0.5	-0.47	-0.34	-0.13	Upgrade
Change in Accounts Payable	-4.52	-0.89	-0.71	-8.42	0.73	Upgrade
Change in Other Net Operating Assets	7.53	2.11	-1.99	11.86	5.52	Upgrade
Other Operating Activities	36.48	171.6	-66.6	-127.3	144.81	Upgrade
Operating Cash Flow	15.24	54.88	55.21	58.84	54.12	Upgrade
Operating Cash Flow Growth	-72.23%	-0.60%	-6.16%	8.71%	31.18%	Upgrade
Acquisition of Real Estate Assets	-3.71	-10.79	-19.98	-113.01	-191.06	Upgrade
Sale of Real Estate Assets	472.43	892.03	5.19	0.88	0.31	Upgrade
Net Sale / Acq. of Real Estate Assets	468.72	881.24	-14.79	-112.13	-190.75	Upgrade
Other Investing Activities	-	-	-	-0.88	-0.47	Upgrade
Investing Cash Flow	468.72	881.24	-14.79	-113.01	-191.22	Upgrade
Long-Term Debt Issued	29.7	16.4	108.17	226.36	276.99	Upgrade
Long-Term Debt Repaid	-274.34	-665.56	-104.6	-130.97	-104.3	Upgrade
Total Debt Repaid	-274.34	-665.56	-104.6	-130.97	-104.3	Upgrade
Net Debt Issued (Repaid)	-244.64	-649.16	3.57	95.39	172.69	Upgrade
Issuance of Common Stock	-	-	-	0.08	-	Upgrade
Common Dividends Paid	-88.37	-101.93	-8.66	-8.05	-8.05	Upgrade
Other Financing Activities	-142.01	-184.15	-39.33	-32.69	-27.92	Upgrade
Foreign Exchange Rate Adjustments	-0	-0.01	0.01	-0.01	0	Upgrade
Net Cash Flow	8.94	0.88	-4	0.54	-0.37	Upgrade
Cash Interest Paid	141.8	181.13	38.38	31.76	26.9	Upgrade
Levered Free Cash Flow	-96.64	-143.45	12.39	26.96	20.95	Upgrade
Unlevered Free Cash Flow	-8.93	-26.98	41.23	32.13	37.01	Upgrade
Change in Working Capital	4.15	1.23	-2.01	3.05	6.55	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.