Erbud 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	-48.38	-28.86	10	8.29	8.79	46.66
Depreciation & Amortization	50.2	43.11	36.93	33.13	27.65	22.94
Other Amortization	4.03	4.03	2.8	2.87	2.63	2.22
Loss (Gain) From Sale of Investments	-7.31	-19.09	-	-	-	-
Stock-Based Compensation	-	-	-	-	28.34	-
Other Operating Activities	6.69	-8.7	22.08	-36.9	17.57	11.26
Change in Accounts Receivable	-252.24	174.71	259.93	-218.4	-366.8	95.98
Change in Inventory	-13.49	-32.68	-61.32	-92.79	-41.72	61.59
Change in Other Net Operating Assets	322.01	19.72	-13.31	168.18	150.18	63.41
Operating Cash Flow	62.88	152.24	257.11	-135.63	-173.36	304.06
Operating Cash Flow Growth	-72.97%	-40.79%	-	-	-	-
Capital Expenditures	-90.9	-94.28	-22.75	-54.2	-88.06	-13.41
Sale of Property, Plant & Equipment	-	-	-	-	3.9	0.95
Cash Acquisitions	-	-	-	-	6.61	-
Investment in Securities	39.27	-29.44	-13.86	-30.59	-46.55	-
Other Investing Activities	-20.27	6.33	5.8	30.85	10.39	-0.51
Investing Cash Flow	-66.86	-113.39	-33.21	-52.2	-143.71	-22.97
Long-Term Debt Issued	-	112.29	24.38	149.23	147.95	27.71
Long-Term Debt Repaid	-	-71.58	-110.3	-110.73	-80.59	-139.34
Net Debt Issued (Repaid)	27.78	40.7	-85.92	38.5	67.36	-111.63
Repurchase of Common Stock	-	-	-	-30.98	-70	-16.5
Common Dividends Paid	-26.7	-26.7	-10.49	-0.5	-3.26	-
Other Financing Activities	-20.44	-15.69	-28.33	-18.45	393.6	-8.57
Financing Cash Flow	-19.36	-1.69	-124.74	-11.42	387.7	-136.7
Net Cash Flow	-23.33	37.15	99.16	-199.25	70.62	144.39
Free Cash Flow	-28.01	57.96	234.37	-189.83	-261.43	290.64
Free Cash Flow Growth	-	-75.27%	-	-	-	-
Free Cash Flow Margin	-0.84%	1.94%	7.25%	-4.92%	-8.43%	13.04%
Free Cash Flow Per Share	-2.35	4.86	19.64	-15.81	-21.25	22.74
Cash Interest Paid	21.14	17.96	28.33	18.59	4.79	6.53
Cash Income Tax Paid	37.39	40.73	42.21	29.76	62.12	10.31
Levered Free Cash Flow	-100.22	-20.31	197.93	-189.88	-264.26	280.07
Unlevered Free Cash Flow	-87.08	-7.72	217.56	-177.58	-259.47	285.65
Change in Working Capital	56.28	161.75	185.29	-143.02	-258.35	220.97

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