Asseco Business Solutions Cash Flow Statement

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

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	132.88	115.03	95.03	85.29	80.65
Depreciation & Amortization	19.48	18.95	17.19	15.66	14.44
Other Amortization	21.22	21.19	18.45	14.37	13.04
Loss (Gain) From Sale of Assets	-0.42	-0.2	-0.46	-0.57	-0.19
Stock-Based Compensation	16.35	13.65	-	-	-
Other Operating Activities	3.95	-4.19	-1.72	4.98	-1.09
Change in Accounts Receivable	-15	-5.21	-2.34	-7.51	-3.99
Change in Inventory	0.11	0.06	0.16	-0.02	0.02
Change in Accounts Payable	-	-	4.1	9.28	-3.19
Change in Other Net Operating Assets	11.76	4.06	-0.99	6.15	-3.2
Operating Cash Flow	190.33	163.34	129.42	127.63	96.49
Operating Cash Flow Growth	16.53%	26.20%	1.41%	32.27%	-14.86%
Capital Expenditures	-4.58	-12.8	-13.98	-15.16	-6.38
Sale of Property, Plant & Equipment	1.01	0.49	0.81	0.23	0.16
Cash Acquisitions	-1.56	-	-	-	-
Sale (Purchase) of Intangibles	-26.16	-29.03	-23.01	-20.18	-16.43
Investment in Securities	1.05	-	0.5	-	40
Other Investing Activities	-	-	0.05	-	0.01
Investing Cash Flow	-30.25	-41.33	-35.63	-35.11	17.37
Short-Term Debt Issued	24.17	20.43	5.6	-	0.93
Total Debt Issued	24.17	20.43	5.6	-	0.93
Short-Term Debt Repaid	-24.17	-20.43	-5.6	-	-0.93
Long-Term Debt Repaid	-9.81	-9.21	-10.53	-14.58	-9.66
Total Debt Repaid	-33.98	-29.64	-16.13	-14.58	-10.59
Net Debt Issued (Repaid)	-9.81	-9.21	-10.53	-14.58	-9.66
Repurchase of Common Stock	-	-36.15	-	-	-
Common Dividends Paid	-108.91	-86.89	-76.86	-70.85	-66.84
Other Financing Activities	-1.75	-1.84	-1.68	-1.65	-1.14
Financing Cash Flow	-120.46	-134.08	-89.08	-87.07	-77.64
Net Cash Flow	39.62	-12.08	4.72	5.45	36.22
Free Cash Flow	185.75	150.54	115.44	112.47	90.11
Free Cash Flow Growth	23.39%	30.41%	2.64%	24.81%	-14.05%
Free Cash Flow Margin	38.96%	35.11%	30.34%	33.22%	29.31%
Free Cash Flow Per Share	5.64	4.53	3.45	3.37	2.70
Cash Interest Paid	1.75	1.86	1.68	1.65	1.14
Cash Income Tax Paid	8.87	15.24	16.46	11.13	15
Levered Free Cash Flow	116.96	82.24	64.45	68.06	50.37
Unlevered Free Cash Flow	118.05	83.42	65.64	69.1	51.12
Change in Working Capital	-3.13	-1.1	0.93	7.9	-10.37

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