Cash flow Citycon Oyj

Equities

CTY1S

FI4000369947

Real Estate Development & Operations

Market Closed - Nasdaq Helsinki Other stock markets 12:00:00 2026-03-05 pm EST			5-day change	1st Jan Change
3.810 ^EUR	+0.32%		+0.37%	-4.42%

Mar. 02	Citycon Unit to Redeem EUR123.5 Million Notes Due 2026	MT
Mar. 02	Citycon Flags EUR270 Million Drawdown from Revolving Credit Facility	MT

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Published financial data: CITYCON OYJ

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	222M	222M	215M	235M	223M
Other Revenues, Total	63.9M	54.6M	38M	85.2M	80.6M
Total Revenues	286M	277M	253M	321M	304M
Property Expenses	82.2M	90M	87.6M	99.6M	88.4M
Selling General & Admin Expenses, Total	33.9M	36.5M	37.9M	40.2M	32M
Other Operating Expenses	400K	26.5M	-	-2.3M	6.4M
Total Operating Expenses	116M	153M	126M	138M	127M
Operating Income (REIT / Utility Template)	170M	124M	128M	183M	177M
Interest Expense, Total	-45.9M	-45.7M	-50.8M	-69.9M	-81.3M
Interest and Investment Income	6.9M	7M	7.9M	7.7M	7.6M
Net Interest Expenses	-39M	-38.7M	-42.9M	-62.2M	-73.7M
Currency Exchange Gains (Loss)	100K	100K	-200K	-800K	-300K
Other Non Operating Income (Expenses)	-16.3M	-9.5M	-7.4M	-13.2M	-29.3M
EBT, Excl. Unusual Items	114M	75.8M	77.3M	107M	73.6M
Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Assets	-6.5M	-4.3M	-2.3M	-79.3M	-1.4M
Asset Writedown	48.6M	-56.5M	-200M	-74.6M	51.1M
Other Unusual Items	-	-	2.9M	-	2.9M
EBT, Incl. Unusual Items	156M	15M	-122M	-47M	126M
Income Tax Expense	35.5M	10M	-7.4M	-9.1M	31.2M
Earnings From Continuing Operations	121M	5M	-115M	-37.9M	95M
Net Income to Company	121M	5M	-115M	-37.9M	95M
Minority Interest	-	300K	-	-	-
Net Income - (IS)	121M	5.3M	-115M	-37.9M	95M
Preferred Dividend and Other Adjustments	24.3M	30.5M	3.1M	35.3M	41.7M
Net Income to Common Incl Extra Items	96.7M	-25.2M	-118M	-73.2M	53.3M
Net Income to Common Excl. Extra Items	96.7M	-25.2M	-118M	-73.2M	53.3M
Per Share Items
Net EPS - Basic	0.55	-0.15	-0.7	-0.4	0.29
Basic EPS - Continuing Operations	0.55	-0.15	-0.7	-0.4	0.29
Basic Weighted Average Shares Outstanding	177M	168M	168M	182M	184M
Net EPS - Diluted	0.54	-0.15	-0.7	-0.4	0.29
Diluted EPS - Continuing Operations	0.54	-0.15	-0.7	-0.4	0.29
Diluted Weighted Average Shares Outstanding	177M	170M	168M	184M	185M
Normalized Basic EPS	0.4	0.28	0.29	0.37	0.25
Normalized Diluted EPS	0.4	0.28	0.29	0.36	0.25
Dividend Per Share	0.38	0.5	0.5	0.3	-
Payout Ratio	24.13	535.85	-98.7	-274.14	35.47
Supplemental Items
EBITDA	172M	126M	131M	186M	180M
EBITA	171M	125M	128M	183M	177M
EBIT	170M	124M	128M	183M	177M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	22.68	66.67	6.05	19.36	24.72
Total Current Taxes	3.3M	2.1M	2.9M	2.1M	1.3M
Total Deferred Taxes	32.2M	7.9M	-10.3M	-11.2M	29.9M
Normalized Net Income	71.5M	47.68M	48.31M	66.81M	46M
Interest Capitalized	6.9M	-	-	400K	-
Interest on Long-Term Debt	9.6M	5.8M	1.7M	1.6M	1.5M
Supplemental Operating Expense Items
Marketing Expenses	7.8M	7.8M	6.8M	7M	6.1M
Selling and Marketing Expenses	7.8M	7.8M	6.8M	7M	6.1M
General and Administrative Expenses	26.1M	28.7M	31.1M	33.2M	25.9M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	34.9M	33.5M	35.9M	41.1M	37.2M
Stock-Based Comp., Other (Total)	800K	3.2M	1.7M	-600K	-600K
Total Stock-Based Compensation	800K	3.2M	1.7M	-600K	-600K

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Net Property Plant And Equipment	4.19B	4.04B	3.86B	3.63B	3.27B
Total Real Estate Assets	4.19B	4.04B	3.86B	3.63B	3.27B
Cash And Equivalents	54.7M	69.2M	25.2M	358M	92.1M
Accounts Receivable, Total	13.9M	7.7M	15.5M	10.1M	10.4M
Other Receivables	75.4M	56.1M	41.4M	36.3M	16.2M
Goodwill	145M	115M	111M	89.9M	89.7M
Other Intangibles, Total	7.6M	11M	10.7M	9.7M	7.6M
Other Current Assets, Total	152M	2.8M	100K	87.6M	512M
Deferred Tax Assets Long-Term (Collected)	16.4M	16.4M	16.5M	16.4M	15.7M
Other Long-Term Assets, Total	145M	140M	127M	66.2M	54M
Total Assets	4.8B	4.46B	4.21B	4.3B	4.06B
Liabilities
Current Portion of Long-Term Debt	-	75.9M	308M	3.7M	123M
Current Portion of Leases	6.5M	6.5M	7M	7.2M	7.1M
Short-Term Borrowings	-	49.2M	46.5M	9.9M	-
Long-Term Debt	1.84B	1.64B	1.47B	2.08B	1.65B
Long-Term Leases	36.7M	36.4M	31.8M	28.1M	25.7M
Accounts Payable, Total	33M	19.2M	22.8M	10.3M	5M
Accrued Expenses, Total	68.3M	50.2M	43.9M	66.7M	70.7M
Current Income Taxes Payable	2.4M	2.8M	2.4M	1.8M	2.3M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	22.8M	3.8M	16.8M	13M	9M
Deferred Tax Liability Non-Current	297M	266M	248M	208M	239M
Other Non Current Liabilities	11.9M	400K	22.8M	12.9M	34.1M
Total Liabilities	2.31B	2.15B	2.22B	2.44B	2.16B
Common Stock, Total	260M	260M	260M	260M	260M
Additional Paid In Capital	131M	131M	131M	131M	131M
Retained Earnings	779M	754M	634M	558M	610M
Comprehensive Income and Other	1.32B	1.17B	963M	910M	899M
Total Common Equity	2.49B	2.31B	1.99B	1.86B	1.9B
Minority Interest	300K	-	-	-	-
Total Equity	2.49B	2.31B	1.99B	1.86B	1.9B
Total Liabilities And Equity	4.8B	4.46B	4.21B	4.3B	4.06B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	168M	168M	172M	184M	184M
ECS Total Common Shares Outstanding	168M	168M	172M	184M	184M
Book Value / Share	10.7	9.65	8.02	6.87	7.28
Tangible Book Value	2.34B	2.18B	1.87B	1.76B	1.8B
Tangible Book Value Per Share	9.79	8.9	7.31	6.33	6.75
Total Debt	1.88B	1.81B	1.86B	2.13B	1.8B
Net Debt	1.82B	1.74B	1.84B	1.77B	1.71B
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	300K	-	-	-	-
Equity Method Investments, Total	129M	104M	72.4M	3.4M	1.7M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	251	-	234	164	-
Accumulated Allowance for Doubtful Accounts (Supple)	6.7M	7M	5M	5M	6.9M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	121M	5.3M	-115M	-37.9M	95M
Depreciation, Depletion & Amortization	1.1M	900K	3M	2.9M	2.9M
Amortization of Goodwill and Intangible Assets - (CF)	1.6M	1.5M	-	-	-
Total Depreciation, Depletion & Amortization	2.7M	2.4M	3M	2.9M	2.9M
(Gain) Loss On Sale of Asset - (CF)	6.5M	4.3M	2.3M	79.3M	1.4M
Total Asset Writedown	-48.6M	56.5M	200M	74.6M	-51.1M
(Income) Loss On Equity Investments - (CF)	6.3M	24.6M	36.7M	700K	-
Stock-Based Compensation (CF)	800K	3.2M	1.7M	-600K	-600K
Change in Accounts Receivable	-16.1M	7.8M	100K	13M	11.7M
Change in Accounts Payable	23.7M	-30.5M	5.7M	-10.1M	-12.2M
Change in Other Net Operating Assets (Collected)	7.7M	-	-	-	-
Other Operating Activities	22.7M	26.1M	-8M	7.7M	70.3M
Cash from Operations	127M	99.7M	127M	130M	117M
Acquisition of Real Estate Assets, Total	-190M	-169M	-94.8M	-111M	-23.6M
Sale of Real Estate Assets, Total	226M	271M	-	300M	60.2M
Net Sale / Acquisition of Real Estate Assets	36.1M	102M	-94.8M	189M	36.6M
Cash Acquisitions	600K	-6.5M	-	-	-
Investment in Marketable and Equity Securities, Total	-46.9M	14.8M	-2.3M	-1M	-1.2M
Other Investing Activities, Total	-	-100K	-	-	-
Cash from Investing	-10.2M	110M	-97.1M	188M	35.4M
Short Term Debt Issued, Total	862M	356M	357M	256M	41.4M
Long-Term Debt Issued, Total	346M	-	405M	642M	443M
Total Debt Issued	1.21B	356M	763M	898M	485M
Short Term Debt Repaid, Total	-1.08B	-319M	-434M	-800M	-88.3M
Long-Term Debt Repaid, Total	-387M	-102M	-258M	-29.9M	-742M
Total Debt Repaid	-1.47B	-421M	-691M	-830M	-831M
Issuance of Common Stock	342M	-	-	46.6M	-
Repurchase of Common Stock	-68.6M	-1.6M	-39.2M	-	-40.2M
Common Dividends Paid	-29.2M	-28.4M	-114M	-104M	-33.7M
Common & Preferred Stock Dividends Paid	-29.2M	-28.4M	-114M	-104M	-33.7M
Special Dividend Paid	-78.9M	-84M	-	-	-
Other Financing Activities, Total	-12.6M	6.7M	9.4M	7.7M	-700K
Cash from Financing	-108M	-172M	-72M	17.7M	-421M
Foreign Exchange Rate Adjustments	300K	-3.1M	-1.6M	-2.2M	1.6M
Miscellaneous Cash Flow Adjustments	-	100K	-100K	-	-
Net Change in Cash	9M	34.5M	-44M	333M	-266M
Supplemental Items
Cash Interest Paid	58.6M	53.9M	51M	63M	71.1M
Cash Income Tax Paid (Refund)	2.1M	5.4M	-2.4M	2.2M	600K
Net Debt Issued / Repaid	-261M	-64.7M	71.3M	67.3M	-346M
Levered Free Cash Flow	70.21M	179M	72.32M	19.05M	-347M
Unlevered Free Cash Flow	98.9M	207M	104M	62.74M	-296M
Change In Net Working Capital	10.6M	-124M	-19.5M	54M	409M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.24	1.67	1.84	2.69	2.64
Return on Total Capital	2.45	1.82	2	2.92	2.87
Return On Equity %	5.2	0.21	-5.35	-1.97	5.06
Return on Common Equity	4.15	-1.05	-5.5	-3.81	2.84
Margin Analysis
Gross Profit Margin %	71.27	67.5	65.42	68.93	70.89
SG&A Margin	11.85	13.18	14.96	12.54	10.54
EBITDA Margin %	60.22	45.61	51.64	58.02	59.2
EBITA Margin %	59.84	45.29	50.45	57.11	58.25
EBIT Margin %	59.28	44.75	50.45	57.11	58.25
Income From Continuing Operations Margin %	42.29	1.81	-45.4	-11.82	31.28
Net Income Margin %	42.29	1.91	-45.4	-11.82	31.28
Net Avail. For Common Margin %	33.8	-9.1	-46.62	-22.83	17.55
Normalized Net Income Margin	24.99	17.22	19.07	20.84	15.15
Levered Free Cash Flow Margin	24.54	64.49	28.55	5.94	-114.31
Unlevered Free Cash Flow Margin	34.57	74.81	41.09	19.57	-97.58
Asset Turnover
Asset Turnover	0.06	0.06	0.06	0.08	0.07
Fixed Assets Turnover	0.07	0.07	0.06	0.09	0.09
Receivables Turnover (Average Receivables)	15.27	20.58	18.56	18.39	21.77
Short Term Liquidity
Current Ratio	2.22	0.65	0.18	4.37	2.9
Quick Ratio	1.08	0.64	0.18	3.6	0.55
Operating Cash Flow to Current Liabilities	0.95	0.48	0.28	1.15	0.54
Days Sales Outstanding (Average Receivables)	23.9	17.73	19.67	19.9	16.77
Average Days Payable Outstanding	115.89	105.85	87.5	60.82	31.59
Long Term Solvency
Total Debt/Equity	75.45	78.25	93.81	114.69	95.01
Total Debt / Total Capital	43	43.9	48.4	53.42	48.72
LT Debt/Equity	75.19	72.55	75.61	113.57	88.14
Long-Term Debt / Total Capital	42.86	40.7	39.01	52.9	45.2
Total Liabilities / Total Assets	48.17	48.21	52.77	56.81	53.26
EBIT / Interest Expense	3.69	2.71	2.52	2.62	2.18
EBITDA / Interest Expense	3.75	2.76	2.57	2.66	2.21
(EBITDA - Capex) / Interest Expense	3.75	2.76	2.57	2.66	2.21
Total Debt / EBITDA	10.9	14.31	14.25	11.46	10.04
Net Debt / EBITDA	10.58	13.76	14.06	9.53	9.52
Total Debt / (EBITDA - Capex)	10.9	14.31	14.25	11.46	10.04
Net Debt / (EBITDA - Capex)	10.58	13.76	14.06	9.53	9.52
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	6.95	-3.22	-8.52	26.57	-5.27
Gross Profit, 1 Yr. Growth %	9.86	-8.34	-11.34	33.37	-2.58
EBITDA, 1 Yr. Growth %	11.23	-26.7	3.56	42.2	-3.33
EBITA, 1 Yr. Growth %	10.88	-26.75	3.15	43.27	-3.39
EBIT, 1 Yr. Growth %	11.36	-26.95	3.15	43.27	-3.39
Earnings From Cont. Operations, 1 Yr. Growth %	-533.69	-95.87	-2.4K	-67.04	-350.66
Net Income, 1 Yr. Growth %	-532.14	-95.62	-2.27K	-67.04	-350.66
Diluted EPS Before Extra, 1 Yr. Growth %	-316	-127.78	367.86	-42.79	-172.18
Normalized Net Income, 1 Yr. Growth %	14.01	-33.32	1.34	33.29	-30.63
Net Property, Plant and Equip., 1 Yr. Growth %	0.89	-3.6	-4.48	-6.01	-9.98
Accounts Receivable, 1 Yr. Growth %	-8.55	-44.6	101.3	-34.84	2.97
Total Assets, 1 Yr. Growth %	2.63	-7.13	-5.66	2.25	-5.56
Common Equity, 1 Yr. Growth %	14.93	-7.19	-13.97	-6.49	2.2
Tangible Book Value, 1 Yr. Growth %	16.4	-6.52	-14.58	-5.71	2.45
Cash From Operations, 1 Yr. Growth %	0.8	-21.31	27.18	2.21	-9.41
Levered Free Cash Flow, 1 Yr. Growth %	-222.56	154.34	-58.15	-66.56	-1.92K
Unlevered Free Cash Flow, 1 Yr. Growth %	-454.32	109.44	-49.76	-27.87	-572.34
Dividend Per Share, 1 Yr. Growth %	-25	33.33	0	-40	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-1.12	1.74	-5.91	7.6	9.5
Gross Profit, 2 Yr. CAGR %	-1.51	0.35	-9.85	8.74	13.99
EBITDA, 2 Yr. CAGR %	-2.67	-9.7	-12.87	21.35	17.24
EBITA, 2 Yr. CAGR %	-2.85	-9.88	-13.6	21.56	17.65
EBIT, 2 Yr. CAGR %	-2.77	-9.8	-13.19	21.56	17.65
Earnings From Cont. Operations, 2 Yr. CAGR %	268.72	-57.67	-2.51	175.32	-9.11
Net Income, 2 Yr. CAGR %	268.72	-56.49	-2.51	167.41	-9.11
Diluted EPS Before Extra, 2 Yr. CAGR %	267.42	-22.54	14	63.61	-35.74
Normalized Net Income, 2 Yr. CAGR %	-4.45	-12.81	-17.8	18.38	-4.2
Net Property, Plant and Equip., 2 Yr. CAGR %	0.34	-1.38	-4.04	-5.25	-8.02
Accounts Receivable, 2 Yr. CAGR %	19.1	-28.83	5.6	14.53	-18.09
Total Assets, 2 Yr. CAGR %	2.38	-2.37	-6.39	-1.78	-1.73
Common Equity, 2 Yr. CAGR %	3.47	3.28	-10.64	-10.31	-2.24
Tangible Book Value, 2 Yr. CAGR %	4.02	4.31	-10.64	-10.26	-1.71
Cash From Operations, 2 Yr. CAGR %	-3.27	-10.94	0.04	14.01	-3.78
Levered Free Cash Flow, 2 Yr. CAGR %	-31.62	76.56	1.49	-66.8	146.84
Unlevered Free Cash Flow, 2 Yr. CAGR %	-26.17	172.41	2.58	-44.97	84.58
Dividend Per Share, 2 Yr. CAGR %	-24.04	0	15.47	-22.54	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.97	-1.82	-1.8	3.87	3.13
Gross Profit, 3 Yr. CAGR %	-1.54	-3.84	-3.71	2.72	4.83
EBITDA, 3 Yr. CAGR %	-1.65	-11.45	-5.48	2.58	12.49
EBITA, 3 Yr. CAGR %	-1.75	-11.58	-6.11	2.27	12.6
EBIT, 3 Yr. CAGR %	-1.6	-11.61	-5.68	2.59	12.6
Earnings From Cont. Operations, 3 Yr. CAGR %	93.89	-17.49	60.34	-32.09	166.84
Net Income, 3 Yr. CAGR %	93.89	-15.87	60.14	-32.09	161.71
Diluted EPS Before Extra, 3 Yr. CAGR %	81.71	55.36	41.07	-9.41	24.55
Normalized Net Income, 3 Yr. CAGR %	2.13	-15.25	-8.33	-2.23	-1.19
Net Property, Plant and Equip., 3 Yr. CAGR %	0.49	-0.99	-2.43	-4.7	-6.85
Accounts Receivable, 3 Yr. CAGR %	8.44	-7.72	0.65	-10.1	10.54
Total Assets, 3 Yr. CAGR %	1.28	-0.89	-3.48	-3.6	-3.06
Common Equity, 3 Yr. CAGR %	6.02	-0.21	-2.82	-9.28	-6.32
Tangible Book Value, 3 Yr. CAGR %	6.66	0.38	-2.41	-9.03	-6.21
Cash From Operations, 3 Yr. CAGR %	9.88	-9.7	0.29	0.76	5.6
Levered Free Cash Flow, 3 Yr. CAGR %	51.76	5.94	8.08	-35.26	26.17
Unlevered Free Cash Flow, 3 Yr. CAGR %	23.39	4.52	55.07	-14.08	12.68
Dividend Per Share, 3 Yr. CAGR %	-16.75	-8.37	0	-7.17	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-3.76	-3.88	-3.56	1.84	2.57
Gross Profit, 5 Yr. CAGR %	-3.22	-4.88	-4.95	1.01	3.01
EBITDA, 5 Yr. CAGR %	-4.62	-9.19	-6.3	0.45	3.03
EBITA, 5 Yr. CAGR %	-4.69	-9.26	-6.67	0.19	2.76
EBIT, 5 Yr. CAGR %	-4.59	-9.21	-6.41	0.41	3.04
Earnings From Cont. Operations, 5 Yr. CAGR %	-5.59	-43.64	47.27	33.61	27.77
Net Income, 5 Yr. CAGR %	-5.48	-42.91	47.27	33.61	27.68
Diluted EPS Before Extra, 5 Yr. CAGR %	-9.71	-21.11	50.8	58.61	3
Normalized Net Income, 5 Yr. CAGR %	-5.96	-11.88	-6.37	-3.13	-6.01
Net Property, Plant and Equip., 5 Yr. CAGR %	-0.69	-0.69	-1.35	-2.72	-4.7
Accounts Receivable, 5 Yr. CAGR %	10.86	-2.86	7.3	0.6	-7.31
Total Assets, 5 Yr. CAGR %	-0.4	-0.95	-1.86	-1.25	-2.78
Common Equity, 5 Yr. CAGR %	1.49	0.91	-0.99	-4.38	-2.59
Tangible Book Value, 5 Yr. CAGR %	2	1.41	-0.63	-4.02	-2.13
Cash From Operations, 5 Yr. CAGR %	-1.46	-7.71	5.83	-0.87	-1.36
Levered Free Cash Flow, 5 Yr. CAGR %	9.41	4.75	29.2	-33.83	43.38
Unlevered Free Cash Flow, 5 Yr. CAGR %	4.34	3.19	14.6	-19.13	60.4
Dividend Per Share, 5 Yr. CAGR %	-12.35	-5.11	-5.11	-14.33	-