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

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