TAURON Polska Energia Cash Flow Statement

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

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	3,363	585	1,123	-134	338	-2,170	Upgrade
Depreciation & Amortization	2,304	2,167	2,079	2,060	1,958	1,936	Upgrade
Other Amortization	182	182	147	-	-	81	Upgrade
Loss (Gain) on Equity Investments	-38	-84	487	-128	-32	-16	Upgrade
Asset Writedown	-93	1,549	26	79	944	3,746	Upgrade
Change in Accounts Receivable	741	2,365	-2,806	-1,286	-786	146	Upgrade
Change in Inventory	371	516	-389	-707	313	-196	Upgrade
Change in Accounts Payable	27	-366	1,250	1,561	543	24	Upgrade
Change in Unearned Revenue	-386	-92	-276	293	-87	-47	Upgrade
Change in Other Net Operating Assets	241	-207	1,721	-347	1,226	-56	Upgrade
Other Operating Activities	1,216	1,479	1,405	596	661	373	Upgrade
Net Cash from Discontinued Operations	-	-	-	774	-122	-	Upgrade
Operating Cash Flow	7,863	7,972	4,616	2,775	4,955	4,042	Upgrade
Operating Cash Flow Growth	109.12%	72.70%	66.34%	-44.00%	22.59%	98.57%	Upgrade
Capital Expenditures	-5,393	-4,741	-4,841	-3,879	-3,255	-3,908	Upgrade
Sale of Property, Plant & Equipment	15	25	63	28	76	18	Upgrade
Investment in Securities	-3	-5	-16	152	25	-33	Upgrade
Other Investing Activities	56	3	-	-277	52	51	Upgrade
Investing Cash Flow	-5,325	-4,718	-4,794	-3,976	-3,103	-3,977	Upgrade
Long-Term Debt Issued	-	6,962	7,982	9,440	2,003	4,369	Upgrade
Long-Term Debt Repaid	-	-10,178	-7,033	-6,363	-3,753	-4,569	Upgrade
Net Debt Issued (Repaid)	-2,279	-3,216	949	3,077	-1,750	-200	Upgrade
Other Financing Activities	-498	-529	-663	-1,559	-253	-174	Upgrade
Financing Cash Flow	-2,777	-3,745	286	1,518	-2,003	-374	Upgrade
Net Cash Flow	-239	-491	108	317	-151	-309	Upgrade
Free Cash Flow	2,470	3,231	-225	-1,104	1,700	134	Upgrade
Free Cash Flow Growth	-	-	-	-	1168.66%	-	Upgrade
Free Cash Flow Margin	7.14%	9.13%	-0.45%	-3.00%	6.76%	0.64%	Upgrade
Free Cash Flow Per Share	1.38	1.84	-0.13	-0.63	0.97	0.08	Upgrade
Cash Interest Paid	583	587	697	500	343	216	Upgrade
Cash Income Tax Paid	260	150	206	540	392	60	Upgrade
Levered Free Cash Flow	3,105	1,954	-1,415	-2,851	1,827	-18.34	Upgrade
Unlevered Free Cash Flow	3,531	2,381	-911.63	-2,477	2,057	166.66	Upgrade
Change in Working Capital	994	2,216	-500	-486	1,209	-129	Upgrade

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