Velgraf Asset Management AD (BUL:VAM)

BUL:VAM Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	0.16	-0.6	-0.05	-0.28	-0.13	0.16
Depreciation & Amortization	1.01	0.9	0.81	1.14	0.82	0.81
Other Operating Activities	5.81	11.38	4.56	2.01	2.94	-25.29
Operating Cash Flow	6.98	11.68	5.32	2.88	3.63	-24.32
Operating Cash Flow Growth	-58.10%	119.41%	85.08%	-20.79%	-	-
Acquisition of Real Estate Assets	-0.39	-2.76	-0.88	-5.91	-5.58	-3.34
Sale of Real Estate Assets	0.16	-	-	-	-	-
Net Sale / Acq. of Real Estate Assets	-0.23	-2.76	-0.88	-5.91	-5.58	-3.34
Cash Acquisition	-	-	-	-0.8	4.39	-
Investment in Marketable & Equity Securities	5.3	-5.45	1.91	-7.24	-28.22	-15.9
Other Investing Activities	0.64	0.53	0.28	0.56	1.03	0.11
Investing Cash Flow	4.24	-7.6	2.01	-13.56	-28.38	-21.58
Long-Term Debt Issued	-	12.53	0.3	17.04	29.03	48.26
Long-Term Debt Repaid	-	-12.58	-3.6	-2.45	-1.36	-1.61
Net Debt Issued (Repaid)	-10.34	-0.05	-3.3	14.58	27.68	46.65
Other Financing Activities	-3.55	-3.98	-4.4	-3.84	-3.1	-2.42
Net Cash Flow	-2.68	0.06	-0.37	0.06	-0.18	-1.67
Cash Interest Paid	4.41	4.41	4.18	3.58	2.96	0.91
Cash Income Tax Paid	0.1	0.1	-0.01	0.08	0.17	0.11
Levered Free Cash Flow	10.28	6.92	-1.21	-24.98	-25.91	-18.52
Unlevered Free Cash Flow	12.61	9.66	1.58	-22.59	-23.8	-17.22

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