AB S.A. Cash Flow Statement

Financials in millions PLN. Fiscal year is October - September.

Millions PLN. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Sep '22 Sep 30, 2022
Net Income	173.86	174.69	153.07	158.05	145.76
Depreciation & Amortization	21.9	22.9	24.8	24.98	20.04
Loss (Gain) From Sale of Assets	-0.44	2.53	-0.66	-0.56	0.13
Other Operating Activities	34.24	-12.79	5.09	5.8	17.77
Change in Accounts Receivable	-5.68	462.38	-723.19	186.99	-460.8
Change in Inventory	-353.9	-65.44	99.81	-162.21	-566.38
Change in Accounts Payable	273.04	-433.7	481.14	-138.97	773.09
Change in Unearned Revenue	-36.11	95.24	83.08	70.31	56.45
Change in Other Net Operating Assets	1.38	-8.59	-6.21	0.02	14.74
Operating Cash Flow	108.28	237.22	116.93	144.41	0.8
Operating Cash Flow Growth	-54.36%	102.87%	-19.03%	18041.33%	-
Capital Expenditures	-3.82	-9.13	-9.93	-10.21	-20.19
Sale of Property, Plant & Equipment	0.83	0.94	0.7	0.6	0.97
Sale (Purchase) of Intangibles	-1	-1.6	-2.2	-2.07	-1.32
Other Investing Activities	0.04	0.05	0.06	0.06	0.01
Investing Cash Flow	-3.88	-9.76	-11.32	-11.59	-20.91
Long-Term Debt Issued	3.72	5.22	-	192.8	-
Total Debt Issued	3.72	5.22	238.25	192.8	212.38
Long-Term Debt Repaid	-39.79	-105.01	-	-266.27	-
Total Debt Repaid	-39.79	-105.01	-261.05	-266.27	-141.94
Net Debt Issued (Repaid)	-36.08	-99.79	-22.8	-73.47	70.44
Repurchase of Common Stock	-9.48	-3.42	-11.43	-8.44	-1.48
Common Dividends Paid	-47.36	-31.65	-16.07	-20.09	-12.91
Other Financing Activities	-20.68	-32.26	-28.78	-29.03	-14.1
Financing Cash Flow	-113.6	-167.12	-79.08	-131.03	41.94
Foreign Exchange Rate Adjustments	0.17	-0.77	-0.04	-0.07	1.03
Net Cash Flow	-9.04	59.57	26.48	1.71	22.85
Free Cash Flow	104.46	228.08	107	134.19	-19.39
Free Cash Flow Growth	-54.20%	113.16%	-20.26%	-	-
Free Cash Flow Margin	0.70%	1.56%	0.70%	0.88%	-0.14%
Free Cash Flow Per Share	6.61	14.41	6.67	8.29	-1.20
Cash Interest Paid	20.68	32.26	28.79	29.03	14.1
Cash Income Tax Paid	52.73	44.87	70.48	74.54	56.63
Levered Free Cash Flow	23.02	206.23	70.99	37.37	-
Unlevered Free Cash Flow	50.14	246.02	123.62	94.06	-
Change in Working Capital	-121.29	49.89	-65.37	-43.86	-182.91

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