WSE:CAV Cash Flow Statement

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

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	24.61	3.34	10.84	90.5	27.15	189.62
Depreciation & Amortization	5.93	5.72	6.68	7.75	5.71	3.73
Asset Writedown	-87.82	-33.41	-68.51	-150.62	-105.21	-257.26
Stock-Based Compensation	-	-	-	-	-	6.33
Income (Loss) on Equity Investments	-1.01	-0.06	0.08	14.26	-9.44	-30.16
Change in Accounts Receivable	-29.93	-17.95	-10.29	20.26	-8.99	-19.99
Change in Other Net Operating Assets	150.86	114.96	182.62	19.62	-9.63	-2.84
Other Operating Activities	108.14	54.21	81.74	52.55	-24.48	20.36
Operating Cash Flow	-14.1	-79.46	65.02	-19.49	-125.22	-121.45
Acquisition of Real Estate Assets	-119.01	-141.96	-207.29	-415.03	-676.27	-527.51
Sale of Real Estate Assets	16	-	12.86	16.41	644.33	0.09
Net Sale / Acq. of Real Estate Assets	-103.01	-141.96	-194.43	-398.62	-31.94	-527.42
Other Investing Activities	0.2	0.21	0.49	1.38	3.7	0.79
Investing Cash Flow	-103.05	-184.83	-188.97	-390.14	-22.23	-504.33
Long-Term Debt Issued	-	937.58	526.53	881.02	992.27	768.38
Long-Term Debt Repaid	-	-600.87	-362.79	-398.87	-908.88	-187.7
Net Debt Issued (Repaid)	180.04	336.72	163.74	482.16	83.39	580.68
Issuance of Common Stock	-	-	-	-	-	194.36
Other Financing Activities	-57.26	-45.64	-84.54	-57.19	-21.22	-30.69
Net Cash Flow	5.63	26.79	-44.75	15.34	-85.28	118.58
Cash Interest Paid	99.05	99.05	80.64	57.19	21.22	23.53
Cash Income Tax Paid	11.65	11.65	3.53	3.6	45.2	21.77
Levered Free Cash Flow	-307.39	-840.72	6.64	-209.1	-132.38	-33.87
Unlevered Free Cash Flow	-217.42	-769.37	67.71	-158.32	-114.25	-17.95
Change in Working Capital	-63.94	-109.27	34.18	-33.92	-18.95	-54.08