Herkules 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	-5.12	-5.04	-68.85	-6.82	0.66	4.37
Depreciation & Amortization	17.33	18.28	19.46	19.56	19.34	19.64
Loss (Gain) From Sale of Assets	0.73	-2.31	1.78	13.16	-7.48	3.92
Other Operating Activities	2.16	1.59	2.03	5.42	3.91	4.94
Change in Accounts Receivable	-1.44	4.45	9.15	-3.85	-10.07	-27.4
Change in Inventory	-0.53	0.7	2.73	0.23	-5.22	8.08
Change in Other Net Operating Assets	-1.22	-4.13	63.74	0.75	-5.83	4.66
Operating Cash Flow	11.9	13.53	30.03	28.45	-4.7	18.21
Operating Cash Flow Growth	-42.66%	-54.94%	5.55%	-	-	3.91%
Capital Expenditures	-1.2	-1.56	-3.7	-5.9	-2.57	-2.4
Sale of Property, Plant & Equipment	9.47	9.29	13.1	9.65	3.76	11.41
Other Investing Activities	-2.76	-2.76	-2.96	-10.35	0.02	-
Investing Cash Flow	5.51	4.97	6.44	-6.6	1.21	9.01
Long-Term Debt Issued	-	1.09	5.9	9.68	0.78	18.56
Long-Term Debt Repaid	-	-15.44	-30.63	-28.45	-16.97	-17.51
Net Debt Issued (Repaid)	-14.34	-14.36	-24.73	-18.77	-16.19	1.06
Other Financing Activities	-3.17	-4.07	-5.47	-4.61	-3.03	-2.79
Financing Cash Flow	-17.52	-18.42	-30.21	-23.38	-19.23	-1.73
Foreign Exchange Rate Adjustments	0.14	-0.01	-0.05	0.04	-0.5	0.54
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	0.06
Net Cash Flow	0.04	0.07	6.21	-1.49	-23.22	26.08
Free Cash Flow	10.7	11.97	26.34	22.55	-7.27	15.81
Free Cash Flow Growth	-44.97%	-54.54%	16.76%	-	-	9.66%
Free Cash Flow Margin	10.10%	11.07%	20.91%	14.36%	-4.44%	10.50%
Free Cash Flow Per Share	0.31	0.35	0.77	0.66	-0.21	0.45
Cash Interest Paid	3.17	4.07	5.47	4.61	3.03	2.79
Cash Income Tax Paid	0.13	1.29	1.56	0.69	0.1	1.73
Levered Free Cash Flow	4.84	7.3	84.8	26.67	-0.73	20.84
Unlevered Free Cash Flow	6.76	9.78	88.17	29.55	0.8	22.64
Change in Working Capital	-3.19	1.02	75.62	-2.87	-21.13	-14.66

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