Excellence 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	10.82	8.44	7.96	4.45	0.32	1.89
Depreciation & Amortization	1.92	1.73	1.41	1.4	1.41	1.86
Other Adjustments	0.97	1.2	1.05	1.91	1.29	0.47
Change in Receivables	-2.33	0.5	0.28	0.02	1.02	-1.36
Changes in Accounts Payable	-	-	-	-	-	2.07
Changes in Accrued Expenses	-0.82	0.26	-1.33	-0.93	-1.4	-
Changes in Income Taxes Payable	-	-	-	-	-	-0.59
Changes in Other Operating Activities	0.52	-2.62	1.6	1.99	-1.47	-1.58
Operating Cash Flow	11.07	10.13	11.06	8.84	1.18	2.75
Operating Cash Flow Growth	-1.27%	-8.42%	25.07%	650.67%	-57.09%	8.90%
Capital Expenditures	-	-	-	-	-	-0.74
Sale of Property, Plant & Equipment	-	-	-	-	-	0.41
Purchases of Intangible Assets	-5.16	4.97	3.25	4.46	-1.47	-
Proceeds from Sale of Intangible Assets	0.09	0.07	0	0.09	0.06	-
Purchases of Investments	-0.27	-	-	0.56	-0.2	-2.27
Proceeds from Sale of Investments	0.01	0.62	0.05	0.03	0	-
Other Investing Activities	-	0.27	0.2	0.56	0	1.77
Investing Cash Flow	-1.79	5.92	3.5	5.71	-1.61	-0.84
Long-Term Debt Issued	1.3	1.3	0	1.89	0.79	1.39
Long-Term Debt Repaid	-0.42	1.54	4.25	4.24	-0.3	-1.27
Net Long-Term Debt Issued (Repaid)	0.87	2.84	4.25	6.13	0.49	0.13
Other Financing Activities	-0.57	0.72	0.34	1.27	-0.79	-0.88
Financing Cash Flow	0.3	-1.1	-4.92	-3.61	-0.3	-0.75
Foreign Exchange Rate Adjustments	-	0	0	-	-	-
Net Cash Flow	6.05	4.48	2.75	0.31	-0.63	1.15
Free Cash Flow	11.07	10.13	11.06	8.84	1.18	2.01
Free Cash Flow Growth	-1.27%	-8.42%	25.07%	650.67%	-41.27%	230.73%
FCF Margin	12.42%	6.06%	6.90%	10.50%	1.56%	3.20%
Free Cash Flow Per Share	0.08	0.06	0.07	0.06	0.01	0.01
Levered Free Cash Flow	12.38	9.8	13.2	12.61	-1.11	2.16
Unlevered Free Cash Flow	7.93	9.24	10.92	8.55	-50.38	-36.82