Cash flow Grand City Properties S.A.

Stocks

GYC

LU0775917882

Real Estate Development & Operations

Real-time Estimate Tradegate Other stock markets 11:17:22 11/06/2026 BST			5-day change	1st Jan Change
8.845 ^EUR	-0.62%		-5.35%	-10.06%

06-08	Rate hike fears weigh on real estate stocks - ECB expected to tighten policy	DP
06-01	GRAND CITY PROPERTIES : Goldman Sachs remains Neutral	ZD

8b6a504f53c000c2ceb11ae273d1.W4AhXaR-JorWfc8qvzsN2IQdVK17WbP8yw6dIU_ZjHc.bPFyB-MrVvCMG45cklZZvcFrJ9QsPd6zunrVYAeaoTE90kY64EZr4KIs9w

Published financial data: GRAND CITY PROPERTIES S.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	525M	583M	608M	597M	601M
Other Revenues, Total	3.95M	-	-	-	-
Total Revenues	529M	583M	608M	597M	601M
Property Expenses	218M	266M	279M	254M	254M
Selling General & Admin Expenses, Total	11.14M	10.69M	10.91M	10.63M	10.61M
Depreciation & Amortization - (IS) - (Collected)	8.24M	10.49M	9.32M	6.31M	6.64M
Total Operating Expenses	237M	287M	299M	271M	271M
Operating Income (REIT / Utility Template)	291M	295M	308M	326M	330M
Interest Expense, Total	-46.45M	-46.91M	-56.81M	-58.84M	-65.57M
Net Interest Expenses	-46.45M	-46.91M	-56.81M	-58.84M	-65.57M
Other Non Operating Income (Expenses)	-	-	-176M	-11.24M	-45.89M
EBT, Excl. Unusual Items	245M	248M	75.56M	256M	219M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Assets	63.69M	2.72M	-8.64M	-5.53M	-4.15M
Asset Writedown	631M	115M	-881M	49.56M	277M
Other Unusual Items	-149M	-137M	90M	-	-
EBT, Incl. Unusual Items	791M	229M	-724M	300M	491M
Income Tax Expense	174M	49.65M	-86.39M	58.18M	-96.35M
Earnings From Continuing Operations	617M	179M	-638M	242M	588M
Net Income to Company	617M	179M	-638M	242M	588M
Minority Interest	-68.52M	-25.14M	124M	-3.14M	-75.73M
Net Income - (IS)	549M	154M	-514M	239M	512M
Preferred Dividend and Other Adjustments	25.04M	24.75M	33.7M	42.36M	41.45M
Net Income to Common Incl Extra Items	524M	129M	-548M	197M	470M
Net Income to Common Excl. Extra Items	524M	129M	-548M	197M	470M
Per Share Items
Net EPS - Basic	3.12	0.77	-3.18	1.14	2.67
Basic EPS - Continuing Operations	3.12	0.77	-3.18	1.14	2.67
Basic Weighted Average Shares Outstanding	168M	168M	172M	173M	176M
Net EPS - Diluted	2.9	0.76	-3.18	1.14	2.67
Diluted EPS - Continuing Operations	2.9	0.76	-3.18	1.14	2.67
Diluted Weighted Average Shares Outstanding	182M	172M	172M	173M	176M
Normalized Basic EPS	0.5	0.77	0.99	0.91	0.35
Normalized Diluted EPS	0.46	0.76	0.99	0.91	0.35
Dividend Per Share	0.83	-	-	-	-
Payout Ratio	9.79	36.59	-	-	-
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	299M	306M	318M	333M	337M
EBITA	295M	300M	314M	328M	332M
EBIT	291M	295M	308M	326M	330M
Effective Tax Rate - (Ratio)	21.98	21.71	11.92	19.37	-19.61
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	25.01M	24.38M	26.11M	41.28M	39.66M
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	135M	10.53M	-127M	16.9M	-136M
Normalized Net Income	84.41M	130M	171M	157M	60.99M
Interest on Long-Term Debt	72.54M	68.12M	75.89M	73.97M	72.58M
Supplemental Operating Expense Items
General and Administrative Expenses	11.14M	10.69M	10.91M	10.63M	10.61M
Maintenance & Repair Expenses, Total	22.45M	21.72M	22.19M	22.95M	23.3M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	3.16M	2.57M	1.86M	2.33M	2.75M
Total Stock-Based Compensation	3.16M	2.57M	1.86M	2.33M	2.75M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Gross Property Plant And Equipment	9.41B	9.62B	8.71B	8.72B	9.03B
Accumulated Depreciation	-16.62M	-22.18M	-26.22M	-30.73M	-35.09M
Net Property Plant And Equipment	9.4B	9.6B	8.69B	8.69B	9B
Total Real Estate Assets	9.4B	9.6B	8.69B	8.69B	9B
Cash And Equivalents	895M	325M	1.13B	1.37B	1.53B
Accounts Receivable, Total	37.76M	35.14M	43.17M	-	-
Other Receivables	34.41M	32.35M	48.52M	79.21M	84.55M
Investment In Debt and Equity Securities	199M	82.03M	84.1M	103M	211M
Other Intangibles, Total	14.72M	11M	5.79M	4.78M	3.36M
Other Current Assets, Total	500M	639M	518M	608M	346M
Trading Asset Securities, Total	212M	102M	101M	141M	90.74M
Deferred Tax Assets Long-Term (Collected)	51.41M	53.77M	65.99M	84.42M	70.41M
Other Long-Term Assets, Total	223M	255M	235M	137M	167M
Total Assets	11.56B	11.13B	10.92B	11.22B	11.5B
Liabilities
Current Portion of Long-Term Debt	5.18M	4.51M	9.81M	12.22M	9.58M
Short-Term Borrowings	450M	-	289M	258M	540M
Long-Term Debt	4B	3.93B	4.13B	4.16B	3.86B
Long-Term Leases	58.7M	57.42M	105M	118M	118M
Accounts Payable, Total	40.83M	55.31M	60.2M	75.03M	57.77M
Current Income Taxes Payable	18.54M	17.49M	17.01M	18.27M	22.29M
Unearned Revenue, Current	143M	155M	185M	188M	196M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	116M	76.42M	92.72M	153M	120M
Deferred Tax Liability Non-Current	760M	789M	662M	692M	520M
Other Non Current Liabilities	172M	132M	134M	125M	123M
Total Liabilities	5.76B	5.22B	5.69B	5.8B	5.57B
Common Stock, Total	17.62M	17.62M	17.62M	17.62M	17.62M
Additional Paid In Capital	444M	322M	323M	323M	323M
Retained Earnings	3.78B	3.83B	3.28B	3.44B	3.91B
Treasury Stock	-248M	-83.87M	-83.23M	-1.92M	-1.32M
Comprehensive Income and Other	1.19B	1.16B	1.17B	1.13B	1.05B
Total Common Equity	5.19B	5.25B	4.71B	4.91B	5.3B
Minority Interest	615M	666M	516M	502M	635M
Total Equity	5.8B	5.91B	5.23B	5.41B	5.94B
Total Liabilities And Equity	11.56B	11.13B	10.92B	11.22B	11.5B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	165M	172M	172M	176M	176M
ECS Total Common Shares Outstanding	165M	172M	172M	176M	176M
Book Value / Share	24.01	23.33	20.18	21.01	23.15
Tangible Book Value	5.17B	5.24B	4.71B	4.91B	5.3B
Tangible Book Value Per Share	23.92	23.27	20.14	20.99	23.13
Total Debt	4.51B	3.99B	4.54B	4.55B	4.53B
Net Debt	3.4B	3.57B	3.31B	3.04B	2.9B
Minority Interest, Total (Incl. Fin. Div)	615M	666M	516M	502M	635M
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	-	-	-	-	-
Buildings, Total	9.34B	9.53B	8.63B	8.63B	8.94B
Machinery, Total	72.24M	88.39M	34.39M	39.15M	41.69M
Full Time Employees	809	810	606	614	586
Assets under Capital Lease - Gross	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	549M	154M	-514M	239M	512M
Depreciation, Depletion & Amortization	4.38M	5.57M	4.04M	4.51M	4.36M
Amortization of Goodwill and Intangible Assets - (CF)	3.85M	4.92M	5.28M	1.8M	2.27M
Total Depreciation, Depletion & Amortization	8.24M	10.49M	9.32M	6.31M	6.64M
Amortization of Deferred Charges, Total	-	-	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-63.69M	-2.72M	8.64M	5.53M	4.15M
(Gain) Loss on Sale of Investments - (CF)	123M	116M	67.02M	-3.88M	38.88M
Total Asset Writedown	-631M	-115M	881M	-49.56M	-277M
(Income) Loss On Equity Investments - (CF)	-3.95M	-	-	-	-
Stock-Based Compensation (CF)	3.16M	2.57M	1.86M	2.33M	2.75M
Change in Accounts Receivable	-	-	-	-	-
Change In Inventories	-	-	-	-	-
Change in Accounts Payable	-	-	-	-	-
Change in Other Net Operating Assets (Collected)	-44.83M	-61.13M	-38.01M	-9.9M	-19.69M
Other Operating Activities	278M	112M	-167M	94.63M	12.55M
Cash from Operations	217M	216M	249M	284M	280M
Acquisition of Real Estate Assets, Total	-489M	-264M	-117M	-112M	-250M
Sale of Real Estate Assets, Total	14.99M	18.48M	166M	77.45M	76.44M
Net Sale / Acquisition of Real Estate Assets	-474M	-245M	48.93M	-34.5M	-174M
Divestitures	-	-	-	-	-
Purchase / Sale of Intangible Assets	-	-1.21M	-73K	-	-
Investment in Marketable and Equity Securities, Total	275M	78.62M	98.94M	86.52M	134M
Cash from Investing	-198M	-168M	148M	52.02M	-39.13M
Long-Term Debt Issued, Total	1.15B	-	584M	550M	240M
Total Debt Issued	1.15B	-	584M	550M	240M
Long-Term Debt Repaid, Total	-1.22B	-486M	-87.75M	-512M	-267M
Total Debt Repaid	-1.22B	-486M	-87.75M	-512M	-267M
Issuance of Common Stock	17.1M	-	-	43.48M	-
Repurchase of Common Stock	-380M	-24.75M	-24.75M	-93.76M	-56.7M
Common Dividends Paid	-53.72M	-56.34M	-	-	-
Common & Preferred Stock Dividends Paid	-53.72M	-56.34M	-	-	-
Other Financing Activities, Total	-50.21M	-49.34M	-66.06M	-80.62M	-931K
Cash from Financing	-537M	-617M	405M	-93.37M	-84.53M
Foreign Exchange Rate Adjustments	2.08M	-1.06M	-29K	952K	1.7M
Miscellaneous Cash Flow Adjustments	-216K	-1.16M	1.76M	-376K	376K
Net Change in Cash	-517M	-571M	804M	244M	159M
Supplemental Items
Cash Interest Paid	-	47.34M	49.04M	-	-
Cash Income Tax Paid (Refund)	36.7M	30.85M	32.23M	40.65M	39.41M
Net Debt Issued / Repaid	-70.69M	-486M	496M	37.53M	-26.9M
Levered Free Cash Flow	194M	14.61M	313M	175M	391M
Unlevered Free Cash Flow	223M	43.93M	349M	212M	432M
Change In Net Working Capital	-38.35M	149M	-147M	-2.29M	-218M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.62	1.63	1.75	1.84	1.82
Return on Total Capital	1.81	1.82	1.96	2.07	2.02
Return On Equity %	10.87	3.06	-11.45	4.55	10.35
Return on Common Equity	10.26	2.48	-10.99	4.08	9.21
Margin Analysis
Gross Profit Margin %	58.75	54.29	54.08	57.5	57.77
SG&A Margin	2.11	1.84	1.79	1.78	1.76
EBITDA Margin %	56.64	52.45	52.29	55.72	56
EBITA Margin %	55.81	51.5	51.63	54.97	55.28
EBIT Margin %	55.08	50.65	50.76	54.67	54.9
Income From Continuing Operations Margin %	116.74	30.75	-104.99	40.56	97.7
Net Income Margin %	103.78	26.43	-84.54	40.03	85.11
Net Avail. For Common Margin %	99.04	22.18	-90.09	32.93	78.22
Normalized Net Income Margin	15.97	22.31	28.22	26.3	10.14
Levered Free Cash Flow Margin	36.76	2.51	51.56	29.4	64.94
Unlevered Free Cash Flow Margin	42.25	7.54	57.41	35.56	71.75
Asset Turnover
Asset Turnover	0.05	0.05	0.06	0.05	0.05
Fixed Assets Turnover	0.06	0.06	0.07	0.07	0.07
Receivables Turnover (Average Receivables)	14.49	15.98	15.52	-	-
Inventory Turnover (Average Inventory)	-	-	-	-	-
Short Term Liquidity
Current Ratio	2.17	3.67	2.82	3.12	2.17
Quick Ratio	1.53	1.6	2.02	2.26	1.81
Operating Cash Flow to Current Liabilities	0.28	0.7	0.38	0.4	0.3
Days Sales Outstanding (Average Receivables)	25.18	22.84	23.51	-	-
Days Outstanding Inventory (Average Inventory)	-	-	-	-	-
Average Days Payable Outstanding	-	65.89	75.54	97.54	95.42
Cash Conversion Cycle (Average Days)	-	-	-	-	-
Long Term Solvency
Total Debt/Equity	77.7	67.51	86.76	84.1	76.25
Total Debt / Total Capital	43.73	40.3	46.45	45.68	43.26
LT Debt/Equity	69.87	67.44	81.04	79.1	66.99
Long-Term Debt / Total Capital	39.32	40.26	43.4	42.97	38.01
Total Liabilities / Total Assets	49.81	46.87	52.1	51.74	48.38
EBIT / Interest Expense	6.27	6.29	5.43	5.55	5.04
EBITDA / Interest Expense	6.45	6.51	5.59	5.65	5.14
(EBITDA - Capex) / Interest Expense	6.27	6.44	5.55	5.61	5.1
Total Debt / EBITDA	15.06	13.07	14.28	13.69	13.44
Net Debt / EBITDA	11.36	11.67	10.41	9.13	8.62
Total Debt / (EBITDA - Capex)	15.49	13.21	14.39	13.8	13.54
Net Debt / (EBITDA - Capex)	11.69	11.8	10.49	9.21	8.69
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.93	10.2	4.33	-1.76	0.74
Gross Profit, 1 Yr. Growth %	-0.64	1.84	3.94	4.45	1.21
EBITDA, 1 Yr. Growth %	-0.8	2.05	4.01	4.69	1.25
EBITA, 1 Yr. Growth %	-1.32	1.68	4.6	4.6	1.31
EBIT, 1 Yr. Growth %	-1.89	1.34	4.55	5.8	1.17
Earnings From Cont. Operations, 1 Yr. Growth %	37.41	-70.98	-456.26	-137.95	142.68
Net Income, 1 Yr. Growth %	38.85	-71.93	-433.72	-146.51	114.19
Diluted EPS Before Extra, 1 Yr. Growth %	44.09	-73.94	-519.91	-135.86	134.36
Normalized Net Income, 1 Yr. Growth %	-14.29	53.94	287.69	-31.05	-61.16
Net Property, Plant and Equip., 1 Yr. Growth %	17.15	2.14	-9.47	0.01	3.58
Inventory, 1 Yr. Growth %	-	-	-	-	-
Accounts Receivable, 1 Yr. Growth %	9.06	-6.95	22.85	-	-
Total Assets, 1 Yr. Growth %	6.41	-3.72	-1.92	2.75	2.54
Common Equity, 1 Yr. Growth %	3.34	1.17	-10.18	4.21	7.93
Tangible Book Value, 1 Yr. Growth %	3.34	1.25	-10.1	4.23	7.97
Cash From Operations, 1 Yr. Growth %	-10.36	-0.44	15.4	14.05	-1.4
Capital Expenditures, 1 Yr. Growth %	13.37	-10.3	-25.62	6.51	-5.58
Levered Free Cash Flow, 1 Yr. Growth %	3.88K	-92.48	2.05K	-44	122.55
Unlevered Free Cash Flow, 1 Yr. Growth %	489.95	-80.33	694.23	-39.16	103.3
Dividend Per Share, 1 Yr. Growth %	1.31	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-2.88	3.96	7.23	1.24	-0.52
Gross Profit, 2 Yr. CAGR %	0.57	0.59	2.88	4.2	2.81
EBITDA, 2 Yr. CAGR %	0.9	0.62	3.03	4.35	2.95
EBITA, 2 Yr. CAGR %	0.56	0.17	3.13	4.6	2.94
EBIT, 2 Yr. CAGR %	-0.1	-0.29	2.93	5.18	3.46
Earnings From Cont. Operations, 2 Yr. CAGR %	11.84	-36.85	1.69	16.27	-4.04
Net Income, 2 Yr. CAGR %	11.66	-37.57	-3.22	24.59	-0.19
Diluted EPS Before Extra, 2 Yr. CAGR %	12.44	-38.72	4.62	22.72	-8.32
Normalized Net Income, 2 Yr. CAGR %	-8.48	14.86	42.53	88.42	-48.25
Net Property, Plant and Equip., 2 Yr. CAGR %	8.58	9.39	-3.84	-4.85	1.78
Inventory, 2 Yr. CAGR %	-	-	-	-	-
Accounts Receivable, 2 Yr. CAGR %	11.78	0.74	6.92	-	-
Total Assets, 2 Yr. CAGR %	8.33	1.21	-2.82	0.39	2.65
Common Equity, 2 Yr. CAGR %	7.1	2.25	-4.67	-3.25	6.05
Tangible Book Value, 2 Yr. CAGR %	7.12	2.29	-4.6	-3.2	6.09
Cash From Operations, 2 Yr. CAGR %	-6.73	-5.53	7.19	14.73	6.05
Capital Expenditures, 2 Yr. CAGR %	8.63	-32.87	-18.32	-10.99	0.28
Levered Free Cash Flow, 2 Yr. CAGR %	-1.74	72.95	26.99	246.63	11.64
Unlevered Free Cash Flow, 2 Yr. CAGR %	-1.33	7.72	24.98	119.83	11.22
Dividend Per Share, 2 Yr. CAGR %	0.62	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.11	1.3	4.08	4.14	1.07
Gross Profit, 3 Yr. CAGR %	3.06	0.99	1.7	3.4	3.19
EBITDA, 3 Yr. CAGR %	2.85	1.28	1.74	3.58	3.31
EBITA, 3 Yr. CAGR %	2.59	0.93	1.63	3.62	3.49
EBIT, 3 Yr. CAGR %	2.15	0.38	1.3	3.88	3.82
Earnings From Cont. Operations, 3 Yr. CAGR %	1.91	-28.66	12.42	-26.79	48.59
Net Income, 3 Yr. CAGR %	1.87	-29.53	9.15	-24.19	49.25
Diluted EPS Before Extra, 3 Yr. CAGR %	1.67	-30.93	16.4	-26.78	52.25
Normalized Net Income, 3 Yr. CAGR %	2.71	8.84	20.31	22.99	11.3
Net Property, Plant and Equip., 3 Yr. CAGR %	9.08	6.39	2.7	-2.57	-2.12
Inventory, 3 Yr. CAGR %	-	-	-	-	-
Accounts Receivable, 3 Yr. CAGR %	11.48	5.15	7.62	-	-
Total Assets, 3 Yr. CAGR %	9.28	4.16	0.16	-1	1.1
Common Equity, 3 Yr. CAGR %	6.81	5.09	-2.07	-1.8	0.34
Tangible Book Value, 3 Yr. CAGR %	6.83	5.13	-2.02	-1.74	0.39
Cash From Operations, 3 Yr. CAGR %	-1.12	-4.67	0.99	9.43	9.08
Capital Expenditures, 3 Yr. CAGR %	9.11	-22.3	-30.53	-10.76	-9.22
Levered Free Cash Flow, 3 Yr. CAGR %	82.01	-58.29	300.36	-3.34	199.03
Unlevered Free Cash Flow, 3 Yr. CAGR %	54.18	-42.36	109.66	-1.68	114.17
Dividend Per Share, 3 Yr. CAGR %	2.54	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.59	2.96	2.14	1.28	2.22
Gross Profit, 5 Yr. CAGR %	5.81	3.76	2.99	2.26	2.14
EBITDA, 5 Yr. CAGR %	5.79	3.79	2.92	2.5	2.22
EBITA, 5 Yr. CAGR %	5.61	3.54	2.81	2.38	2.15
EBIT, 5 Yr. CAGR %	5.33	3.2	2.46	2.27	2.16
Earnings From Cont. Operations, 5 Yr. CAGR %	-1.13	-22.46	1.82	-13.27	5.52
Net Income, 5 Yr. CAGR %	-0.59	-22.73	-0.2	-11.49	5.32
Diluted EPS Before Extra, 5 Yr. CAGR %	-2.23	-24.37	2.84	-13.07	5.8
Normalized Net Income, 5 Yr. CAGR %	23.27	20.08	17.1	9.28	-9.14
Net Property, Plant and Equip., 5 Yr. CAGR %	14.48	8.48	3.71	1.74	2.33
Inventory, 5 Yr. CAGR %	-	-	-	-	-
Accounts Receivable, 5 Yr. CAGR %	11.95	4.72	9.63	-	-
Total Assets, 5 Yr. CAGR %	13.44	8.19	4.26	2.63	1.15
Common Equity, 5 Yr. CAGR %	12.58	8.53	2.06	1.67	1.1
Tangible Book Value, 5 Yr. CAGR %	12.6	8.55	2.1	1.71	1.14
Cash From Operations, 5 Yr. CAGR %	1.52	1.33	2.12	2.66	2.98
Capital Expenditures, 5 Yr. CAGR %	20.42	-10.63	-17.42	-17.96	-19.54
Levered Free Cash Flow, 5 Yr. CAGR %	34.36	-35.59	57.6	-2.7	140.21
Unlevered Free Cash Flow, 5 Yr. CAGR %	27.2	-22.48	41.76	-1.54	62.69
Dividend Per Share, 5 Yr. CAGR %	4.09	-	-	-	-