FRA:7T8 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	191.53	199.22	199.94	187.83	149.24	115.99
Depreciation & Amortization	78.58	73.66	71.31	72.16	68.05	71.16
Other Amortization	26.82	25.06	17.67	21.21	10.49	6.89
Loss (Gain) From Sale of Assets	15.76	2.74	1.45	8.29	-0.4	6.07
Loss (Gain) From Sale of Investments	2.84	-0.29	-0.91	0.02	1.51	-
Stock-Based Compensation	0.68	0.72	0.64	0.42	0.08	0.74
Other Operating Activities	-31.13	-26.22	-12.66	-10.14	10.34	9.32
Change in Accounts Receivable	-53.79	44.13	-90.88	-134.88	11.95	-37.24
Change in Inventory	49.88	-12.15	-52.56	-23.13	-4.53	13.56
Change in Other Net Operating Assets	50.54	-103.01	175.61	118.82	-11.89	18.14
Operating Cash Flow	331.71	203.86	309.61	240.58	234.84	204.62
Operating Cash Flow Growth	58.25%	-34.15%	28.69%	2.44%	14.77%	28.84%
Capital Expenditures	-116.86	-93.23	-61.81	-59.15	-40.01	-35.56
Sale of Property, Plant & Equipment	1.69	1.93	1.01	1.33	3.05	1.72
Cash Acquisitions	-22.73	-80.94	-60.06	-40.9	-143.98	-18.69
Divestitures	-1.82	-	0.72	3.42	-	-
Investment in Securities	-0.43	-0.15	-0.45	-1.21	4.92	0.19
Other Investing Activities	0.2	0.11	0.44	0.01	0	0
Investing Cash Flow	-139.93	-158.48	-119.96	-96.45	-176.06	-52.37
Long-Term Debt Issued	-	110.48	32.22	55.06	31.67	9.94
Total Debt Issued	40.37	110.48	32.22	55.06	31.67	9.94
Long-Term Debt Repaid	-	-81.46	-52.05	-56.76	-52.93	-66.48
Net Debt Issued (Repaid)	-37.06	29.02	-19.84	-1.7	-21.25	-56.54
Common Dividends Paid	-90.82	-85.63	-75.77	-66.43	-51.89	-38.4
Other Financing Activities	-17.24	-27.03	-37.6	-7.04	-9.38	-4.34
Financing Cash Flow	-145.12	-83.64	-133.21	-75.16	-82.52	-99.28
Foreign Exchange Rate Adjustments	-10.26	-7.73	-35.91	-8.83	-20.5	5.22
Net Cash Flow	36.39	-45.98	20.53	60.14	-44.23	58.2
Free Cash Flow	214.85	110.63	247.8	181.43	194.84	169.06
Free Cash Flow Growth	45.91%	-55.35%	36.58%	-6.88%	15.25%	63.82%
Free Cash Flow Margin	12.19%	6.48%	15.09%	11.59%	16.99%	16.47%
Free Cash Flow Per Share	4.14	2.13	4.78	3.50	3.75	3.26
Cash Interest Paid	9.69	9.28	5.34	3.83	2.67	3.63
Cash Income Tax Paid	49.7	54.74	47.99	45.66	35.18	24.15
Levered Free Cash Flow	206.23	43.62	208.35	140.09	143.89	136.73
Unlevered Free Cash Flow	213.59	50.44	212.81	143.04	146.34	139.22
Change in Working Capital	46.63	-71.03	32.16	-39.2	-4.47	-5.54

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