Cash flow FREY

Stocks

FREY

FR0010588079

Real Estate Development & Operations

Market Closed - Euronext Paris 11:55:00 2026-09-03 EDT			5-day change	1st Jan Change
35.00 ^EUR	+0.57%		-2.23%	+19.86%

07-28	Frey posts a sharp jump in group net profit in the first half
07-27	Frey SA Reports Earnings Results for the Half Year Ended June 30, 2026	CI

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Published financial data: FREY

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Rental Revenues	98.7M	124M	149M	191M	231M
Other Revenues, Total	2.52M	3.25M	1.17M	-4.51M	1.97M
Total Revenues	101M	127M	150M	187M	233M
Property Expenses	33.24M	44.02M	46.79M	64.47M	80.69M
Depreciation & Amortization - (IS) - (Collected)	3.42M	2.92M	4.06M	4.05M	4.6M
Other Operating Expenses	10.66M	15.93M	13.24M	14.85M	26.38M
Total Operating Expenses	47.32M	62.86M	64.1M	83.37M	112M
Operating Income (REIT / Utility Template)	53.89M	64.48M	85.59M	103M	122M
Interest Expense, Total	-8.08M	46.84M	-87.07M	-91.94M	-81.73M
Interest and Investment Income	178K	1.79M	24.74M	30.98M	18.83M
Net Interest Expenses	-7.9M	48.63M	-62.33M	-60.95M	-62.89M
Other Non Operating Income (Expenses)	5.27M	-2.28M	-1.74M	-1.49M	-3.58M
EBT, Excl. Unusual Items	51.26M	111M	21.52M	40.99M	55.2M
Restructuring Charges	-	-	-	-622K	-
Gain (Loss) on Sale of Assets	1.84M	2.06M	-2.29M	-1.4M	806K
Asset Writedown	26.25M	33.98M	14.66M	23.7M	53.81M
Legal Settlements	-	-	-	-612K	-
Other Unusual Items	-3.43M	-1.37M	-3.37M	-1.2M	-4.71M
EBT, Incl. Unusual Items	75.92M	146M	30.52M	60.86M	105M
Income Tax Expense	3.73M	10.12M	5.73M	15.7M	30.31M
Earnings From Continuing Operations	72.19M	135M	24.79M	45.16M	74.8M
Net Income to Company	72.19M	135M	24.79M	45.16M	74.8M
Minority Interest	-6.76M	-6M	-5.93M	-5.16M	2.61M
Net Income - (IS)	65.43M	129M	18.86M	40M	77.4M
Net Income to Common Incl Extra Items	65.43M	129M	18.86M	40M	77.4M
Net Income to Common Excl. Extra Items	65.43M	129M	18.86M	40M	77.4M
Per Share Items
Net EPS - Basic	2.62	4.56	0.67	1.26	2.43
Basic EPS - Continuing Operations	2.62	4.56	0.67	1.26	2.43
Basic Weighted Average Shares Outstanding	24.96M	28.37M	28.17M	31.82M	31.87M
Net EPS - Diluted	2.62	4.56	0.67	1.26	2.43
Diluted EPS - Continuing Operations	2.62	4.56	0.67	1.26	2.43
Diluted Weighted Average Shares Outstanding	24.96M	28.37M	28.17M	31.82M	31.87M
Normalized Basic EPS	1.01	2.23	0.27	0.64	1.16
Normalized Diluted EPS	1.01	2.23	0.27	0.64	1.16
Dividend Per Share	1.6	1.7	1.8	1.9	2
Payout Ratio	40.68	35.06	252.84	142.84	80.25
Supplemental Items
EBITDA	55.51M	67.4M	87.22M	107M	126M
EBITA	54.03M	64.58M	85.68M	104M	122M
EBIT	53.89M	64.48M	85.59M	103M	122M
Effective Tax Rate - (Ratio)	4.91	6.96	18.79	25.8	28.84
Total Current Taxes	1.45M	17.93M	1.56M	5.96M	7.31M
Total Deferred Taxes	2.28M	-7.8M	4.17M	9.74M	23M
Normalized Net Income	25.28M	63.27M	7.52M	20.46M	37.11M
Interest on Long-Term Debt	686K	326K	441K	433K	320K
Non-Cash Pension Expense	54K	62K	102K	75K	-

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Assets
Gross Property Plant And Equipment	1.52B	1.77B	2.09B	1.97B	2.75B
Accumulated Depreciation	-7.5M	-8.64M	-9.84M	-11.17M	-13.23M
Net Property Plant And Equipment	1.51B	1.76B	2.08B	1.96B	2.73B
Total Real Estate Assets	1.51B	1.76B	2.08B	1.96B	2.73B
Cash And Equivalents	84.47M	72.06M	72.98M	321M	245M
Accounts Receivable, Total	18.25M	13.92M	25.29M	19M	27.54M
Other Receivables	23.25M	17.7M	31.4M	20.63M	32.44M
Investment In Debt and Equity Securities	-	-	-	-	-
Goodwill	5.91M	5.91M	5.91M	15.65M	7.81M
Other Intangibles, Total	905K	953K	871K	1.74M	1.85M
Notes Receivable (Collected)	10.71M	3.49M	1.24M	1.58M	7.48M
Other Current Assets, Total	63.46M	66.82M	126M	103M	79.94M
Trading Asset Securities, Total	8.23M	76.69M	-	-	-
Deferred Tax Assets Long-Term (Collected)	1.24M	1.21M	1.18M	870K	5.38M
Other Long-Term Assets, Total	29.15M	27.78M	48.64M	76.45M	77.28M
Total Assets	1.76B	2.05B	2.4B	2.52B	3.22B
Liabilities
Current Portion of Long-Term Debt	5.24M	39.28M	14.78M	6.98M	89.67M
Current Portion of Leases	2.94M	3.84M	2.93M	6.58M	6.97M
Short-Term Borrowings	2.07M	1.87M	1.86M	3.47M	3.48M
Long-Term Debt	588M	757M	979M	1.2B	1.33B
Long-Term Leases	11.59M	8M	8M	1.8M	2.59M
Accounts Payable, Total	5.72M	10.24M	15.33M	16.01M	21.44M
Accrued Expenses, Total	4.27M	4.99M	4.75M	4.84M	9.87M
Current Income Taxes Payable	7.75M	13.6M	15.21M	15.27M	18.26M
Unearned Revenue, Current	3.77M	3.91M	4.04M	4.32M	6.81M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	58.04M	48.72M	134M	88.56M	97.33M
Pension & Other Post Retirement Benefits	821K	609K	694K	797K	2.21M
Deferred Tax Liability Non-Current	28.29M	22.99M	27.48M	36.93M	115M
Other Non Current Liabilities	70.44M	82.9M	73.06M	28.42M	373M
Total Liabilities	789M	997M	1.28B	1.42B	2.07B
Common Stock, Total	70.92M	70.92M	80.62M	80.62M	80.62M
Additional Paid In Capital	470M	424M	463M	408M	378M
Retained Earnings	65.43M	129M	18.86M	40M	77.4M
Comprehensive Income and Other	301M	365M	484M	519M	521M
Total Common Equity	907M	990M	1.05B	1.05B	1.06B
Minority Interest	59.11M	63.11M	69.91M	51.87M	88.98M
Total Equity	966M	1.05B	1.12B	1.1B	1.15B
Total Liabilities And Equity	1.76B	2.05B	2.4B	2.52B	3.22B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	28.29M	28.25M	31.72M	31.89M	31.78M
ECS Total Common Shares Outstanding	28.29M	28.25M	31.72M	31.89M	31.78M
Book Value / Share	32.06	35.04	32.99	32.86	33.25
Tangible Book Value	900M	983M	1.04B	1.03B	1.05B
Tangible Book Value Per Share	31.82	34.8	32.77	32.31	32.94
Total Debt	610M	810M	1.01B	1.22B	1.43B
Net Debt	517M	661M	933M	900M	1.18B
Minority Interest, Total (Incl. Fin. Div)	59.11M	63.11M	69.91M	51.87M	88.98M
Equity Method Investments, Total	14.61M	17.54M	45.47M	73.03M	73.66M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	37.35M	52.18M	63.71M	65.08M	57.08M
Land - (BS)	15.23M	18.69M	21.64M	21.84M	19.66M
Buildings, Total	8.18M	8.21M	11.01M	11.17M	12.59M
Full Time Employees	83	94	101	103	305
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	10.06M	12.07M	15.51M

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Net Income	65.43M	129M	18.86M	40M	77.4M
Depreciation, Depletion & Amortization	1.48M	2.82M	1.54M	3.98M	4.57M
Amortization of Goodwill and Intangible Assets - (CF)	134K	103K	88K	70K	29K
Total Depreciation, Depletion & Amortization	1.61M	2.92M	1.63M	4.05M	4.6M
(Gain) Loss On Sale of Asset - (CF)	-1.9M	-1.8M	1.73M	-1.4M	-730K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	18.6M
Total Asset Writedown	-28.76M	-38.94M	-14.66M	-23.79M	-58.39M
(Income) Loss On Equity Investments - (CF)	-2.52M	-3.25M	-1.17M	4.51M	-1.97M
Change in Accounts Receivable	13.02M	14.51M	-8.25M	18.24M	-8.8M
Change In Inventories	1.64M	-8.11M	-11.52M	762K	10.13M
Change in Accounts Payable	-4.54M	4.51M	3.68M	351K	248K
Change in Other Net Operating Assets (Collected)	-2.6M	2.72M	-8.66M	-11.87M	-5.33M
Other Operating Activities	10.14M	-43.18M	79.4M	79.85M	70.76M
Cash from Operations	51.52M	58.77M	61.04M	111M	107M
Acquisition of Real Estate Assets, Total	-120M	-141M	-151M	-117M	-309M
Sale of Real Estate Assets, Total	52.29M	59.56M	129M	190M	26.81M
Net Sale / Acquisition of Real Estate Assets	-68.15M	-81.06M	-22.22M	73.23M	-282M
Cash Acquisitions	-69.94M	-130M	-245M	-5.94M	-123M
Investment in Marketable and Equity Securities, Total	153K	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-10.94M	982K	259K	-1.26M	-4.25M
Cash from Investing	-149M	-210M	-267M	66.02M	-409M
Long-Term Debt Issued, Total	430M	475M	618M	610M	320M
Total Debt Issued	430M	475M	618M	610M	320M
Long-Term Debt Repaid, Total	-367M	-276M	-425M	-392M	-114M
Total Debt Repaid	-367M	-276M	-425M	-392M	-114M
Issuance of Common Stock	101M	-	96.15M	3.67M	48.09M
Repurchase of Common Stock	-1.71M	-1.39M	-11.69M	-	-2.99M
Common Dividends Paid	-26.62M	-45.36M	-47.68M	-57.14M	-62.11M
Common & Preferred Stock Dividends Paid	-26.62M	-45.36M	-47.68M	-57.14M	-62.11M
Other Financing Activities, Total	-10.55M	-13.88M	-22.98M	-92.71M	37.45M
Cash from Financing	126M	139M	207M	71.52M	226M
Foreign Exchange Rate Adjustments	-	-	129K	47K	167K
Miscellaneous Cash Flow Adjustments	-	-	-	-2K	-1K
Net Change in Cash	28.34M	-12.18M	937K	248M	-76.54M
Supplemental Items
Cash Interest Paid	10.55M	13.88M	22.98M	41.34M	46.78M
Cash Income Tax Paid (Refund)	1.3M	3.88M	2.22M	5.16M	6.88M
Net Debt Issued / Repaid	63.22M	200M	193M	218M	205M
Levered Free Cash Flow	-14.89M	70.27M	85.86M	-43.42M	44.85M
Unlevered Free Cash Flow	-9.84M	40.99M	140M	14.04M	95.93M
Change In Net Working Capital	35.88M	-2.9M	-88.66M	4.64M	-21.36M

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Profitability
Return on Assets	2.03	2.12	2.41	2.63	2.65
Return on Total Capital	2.3	2.34	2.68	2.91	3.11
Return On Equity %	8.07	13.41	2.29	4.08	6.66
Return on Common Equity	7.81	13.64	1.85	3.82	7.36
Margin Analysis
Gross Profit Margin %	67.16	65.43	68.74	65.49	65.42
SG&A Margin	10.39	10.34	7.85	7.61	9.72
EBITDA Margin %	54.84	52.92	58.27	57.54	54.11
EBITA Margin %	53.38	50.71	57.24	55.41	52.16
EBIT Margin %	53.25	50.63	57.18	55.37	52.14
Income From Continuing Operations Margin %	71.32	106.31	16.56	24.17	32.06
Net Income Margin %	64.64	101.6	12.6	21.41	33.17
Net Avail. For Common Margin %	64.64	101.6	12.6	21.41	33.17
Normalized Net Income Margin	24.97	49.69	5.02	10.95	15.9
Levered Free Cash Flow Margin	-14.71	55.18	57.36	-23.25	19.22
Unlevered Free Cash Flow Margin	-9.72	32.19	93.72	7.51	41.11
Asset Turnover
Asset Turnover	0.06	0.07	0.07	0.08	0.08
Fixed Assets Turnover	0.07	0.08	0.08	0.09	0.1
Receivables Turnover (Average Receivables)	4.9	7.71	7.58	8.64	9.94
Inventory Turnover (Average Inventory)	0.87	1.01	0.82	1.02	1.37
Short Term Liquidity
Current Ratio	2.32	1.98	1.33	3.19	1.54
Quick Ratio	1.49	1.43	0.67	2.47	1.2
Operating Cash Flow to Current Liabilities	0.57	0.46	0.32	0.76	0.42
Days Sales Outstanding (Average Receivables)	74.56	47.31	48.18	42.36	36.71
Days Outstanding Inventory (Average Inventory)	420.43	362.8	444.03	359.66	266.72
Average Days Payable Outstanding	94.35	49.49	80.02	87.15	96.88
Cash Conversion Cycle (Average Days)	400.64	360.63	412.2	314.88	206.55
Long Term Solvency
Total Debt/Equity	63.14	76.86	90.12	111.04	124.74
Total Debt / Total Capital	38.7	43.46	47.4	52.62	55.5
LT Debt/Equity	62.08	72.59	88.37	109.49	116
Long-Term Debt / Total Capital	38.05	41.04	46.48	51.88	51.62
Total Liabilities / Total Assets	44.96	48.64	53.43	56.29	64.41
EBIT / Interest Expense	6.67	-1.38	0.98	1.13	1.49
EBITDA / Interest Expense	6.87	-1.44	1	1.17	1.54
(EBITDA - Capex) / Interest Expense	5.73	-1.33	0.96	0.63	1.47
Total Debt / EBITDA	10.99	12.01	11.54	11.36	11.32
Net Debt / EBITDA	9.32	9.8	10.7	8.37	9.38
Total Debt / (EBITDA - Capex)	13.19	13	12.02	21.25	11.89
Net Debt / (EBITDA - Capex)	11.19	10.61	11.15	15.66	9.85
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-3.96	25.81	17.55	24.8	24.91
Gross Profit, 1 Yr. Growth %	21.76	22.58	23.48	18.89	24.78
EBITDA, 1 Yr. Growth %	28.62	17.58	31.91	19.89	18.16
EBITA, 1 Yr. Growth %	29.88	19.53	32.67	20.8	18.29
EBIT, 1 Yr. Growth %	30.06	19.64	32.74	20.85	18.34
Earnings From Cont. Operations, 1 Yr. Growth %	1.85K	87.52	-81.69	82.17	65.62
Net Income, 1 Yr. Growth %	2.66K	97.73	-85.42	112.12	93.5
Diluted EPS Before Extra, 1 Yr. Growth %	2.6K	73.98	-85.36	87.77	93.21
Normalized Net Income, 1 Yr. Growth %	33.38	150.3	-88.11	172.09	84.86
Net Property, Plant and Equip., 1 Yr. Growth %	13.55	16.84	18.12	-6.14	39.82
Inventory, 1 Yr. Growth %	-9.71	40.83	22.5	2.14	-15.82
Accounts Receivable, 1 Yr. Growth %	-17.33	-23.7	81.62	-24.87	44.94
Total Assets, 1 Yr. Growth %	12.76	16.82	16.89	4.96	27.95
Common Equity, 1 Yr. Growth %	18.09	9.14	5.7	0.12	0.85
Tangible Book Value, 1 Yr. Growth %	18.93	9.2	5.75	-0.9	1.61
Cash From Operations, 1 Yr. Growth %	36.16	14.06	3.86	81.39	-3.79
Capital Expenditures, 1 Yr. Growth %	73.56	-44.69	-31.61	1.33K	-87.88
Levered Free Cash Flow, 1 Yr. Growth %	-5.51K	1.34K	-994.94	-149.18	-202.38
Unlevered Free Cash Flow, 1 Yr. Growth %	-312.62	767.42	-460.88	-90.16	602.95
Dividend Per Share, 1 Yr. Growth %	6.67	6.25	5.88	5.56	5.26
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	13.87	9.92	21.61	21.12	24.85
Gross Profit, 2 Yr. CAGR %	18.14	22.17	23.03	21.17	21.8
EBITDA, 2 Yr. CAGR %	20.07	24.97	23.35	27.5	18.68
EBITA, 2 Yr. CAGR %	20.94	24.6	25.93	26.6	19.18
EBIT, 2 Yr. CAGR %	20.79	24.74	26.02	26.66	19.23
Earnings From Cont. Operations, 2 Yr. CAGR %	10.52	504.39	-41.4	-42.24	73.7
Net Income, 2 Yr. CAGR %	14.72	639.01	-46.31	-44.39	102.59
Diluted EPS Before Extra, 2 Yr. CAGR %	1.03	585.91	-49.47	-47.58	90.47
Normalized Net Income, 2 Yr. CAGR %	153.81	82.71	-45.46	-43.13	122.13
Net Property, Plant and Equip., 2 Yr. CAGR %	16.95	15.18	17.48	5.3	14.56
Inventory, 2 Yr. CAGR %	-9.81	12.76	31.35	11.86	-7.27
Accounts Receivable, 2 Yr. CAGR %	34.5	-20.58	17.72	16.82	4.36
Total Assets, 2 Yr. CAGR %	12.97	14.77	16.86	10.77	15.89
Common Equity, 2 Yr. CAGR %	7.99	13.53	7.41	2.87	0.49
Tangible Book Value, 2 Yr. CAGR %	8.38	13.96	7.46	2.37	0.35
Cash From Operations, 2 Yr. CAGR %	34.07	24.62	8.84	37.26	32.11
Capital Expenditures, 2 Yr. CAGR %	-71.94	-2.03	-38.5	212.51	31.57
Levered Free Cash Flow, 2 Yr. CAGR %	-32.32	1.5K	320.18	112.75	-28.73
Unlevered Free Cash Flow, 2 Yr. CAGR %	-40.04	197.61	444.83	-39.91	-18.01
Dividend Per Share, 2 Yr. CAGR %	3.28	6.46	6.07	5.72	5.41
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	16.61	17.72	12.41	22.66	22.37
Gross Profit, 3 Yr. CAGR %	24.02	19.6	22.61	21.64	22.36
EBITDA, 3 Yr. CAGR %	28.7	20.51	26.43	23.32	24.07
EBITA, 3 Yr. CAGR %	28.93	20.47	27.23	24.2	23.52
EBIT, 3 Yr. CAGR %	28.82	20.4	27.35	24.27	23.57
Earnings From Cont. Operations, 3 Yr. CAGR %	16.98	31.82	88.42	-14.48	-17.94
Net Income, 3 Yr. CAGR %	13.21	37.55	99.67	-15.13	-15.74
Diluted EPS Before Extra, 3 Yr. CAGR %	-1.4	21.1	90.43	-21.73	-19.03
Normalized Net Income, 3 Yr. CAGR %	46.6	152.63	-26.52	-6.8	-16.3
Net Property, Plant and Equip., 3 Yr. CAGR %	26.04	16.92	16.15	9.01	15.73
Inventory, 3 Yr. CAGR %	13.11	4.63	15.92	20.79	1.75
Accounts Receivable, 3 Yr. CAGR %	-16.26	11.34	4.63	1.35	25.53
Total Assets, 3 Yr. CAGR %	21.16	14.24	15.47	12.75	16.22
Common Equity, 3 Yr. CAGR %	14.74	8.37	10.86	4.92	2.2
Tangible Book Value, 3 Yr. CAGR %	14.48	8.66	11.16	4.6	2.12
Cash From Operations, 3 Yr. CAGR %	76.52	27.03	17.27	29.04	21.93
Capital Expenditures, 3 Yr. CAGR %	-46.51	-64.82	-13.09	75.46	5.79
Levered Free Cash Flow, 3 Yr. CAGR %	-42.14	29.3	578.4	107.46	67.21
Unlevered Free Cash Flow, 3 Yr. CAGR %	-48.4	14.41	211.79	43.74	35.14
Dividend Per Share, 3 Yr. CAGR %	10.06	4.26	6.27	5.9	5.57
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	27.55	27.12	18.58	19.07	17.23
Gross Profit, 5 Yr. CAGR %	26.67	22.38	23.62	20.22	22.28
EBITDA, 5 Yr. CAGR %	25.07	25.71	27.35	22.79	23.95
EBITA, 5 Yr. CAGR %	25	25.22	27.72	22.88	23.95
EBIT, 5 Yr. CAGR %	24.93	25.18	27.69	22.87	24.04
Earnings From Cont. Operations, 5 Yr. CAGR %	17.14	17.24	-11.28	-5.24	82.39
Net Income, 5 Yr. CAGR %	14.86	16.18	-16	-4.25	100.84
Diluted EPS Before Extra, 5 Yr. CAGR %	-5.67	-3.06	-24.53	-13.31	90.45
Normalized Net Income, 5 Yr. CAGR %	37.7	63.84	-1.29	39.14	14.38
Net Property, Plant and Equip., 5 Yr. CAGR %	29.02	25.06	22.54	12.12	15.51
Inventory, 5 Yr. CAGR %	42.85	24.44	20.08	7.47	6.02
Accounts Receivable, 5 Yr. CAGR %	35.6	23.86	-4.04	13.5	4.52
Total Assets, 5 Yr. CAGR %	26.72	21.85	19.42	12.84	15.64
Common Equity, 5 Yr. CAGR %	33.25	21.97	11.75	6.14	6.58
Tangible Book Value, 5 Yr. CAGR %	33.07	21.82	11.62	6.1	6.7
Cash From Operations, 5 Yr. CAGR %	38.15	132.23	45.48	31.03	23
Capital Expenditures, 5 Yr. CAGR %	-33.58	-39.21	-43.44	-15.72	2.59
Levered Free Cash Flow, 5 Yr. CAGR %	-24.87	4.94	2.24	5.96	177.01
Unlevered Free Cash Flow, 5 Yr. CAGR %	-29.84	-4.14	14.39	-12.5	83.36
Dividend Per Share, 5 Yr. CAGR %	15.75	11.2	8.45	4.84	5.92