WSE:JSW 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	-6,215	-7,242	993.9	7,618	903.7
Depreciation & Amortization	1,487	1,684	1,719	1,504	1,220
Other Amortization	13.6	13.8	10.3	9.2	-
Loss (Gain) From Sale of Assets	76.6	0.1	10.6	10.2	28
Asset Writedown & Restructuring Costs	3,176	6,449	226	349.8	423.6
Other Operating Activities	-494.2	-1,518	-1,942	1,468	-99.8
Change in Accounts Receivable	530.6	412.8	162	-127.7	-904
Change in Inventory	244.4	-24.7	-181.8	-337.6	227.6
Change in Accounts Payable	690.9	182.6	467.9	494.5	-94
Change in Other Net Operating Assets	48.6	-47	282	57.3	-44
Operating Cash Flow	-440.8	-89.5	1,747	11,045	1,661
Operating Cash Flow Growth	-	-	-84.18%	564.88%	368.34%
Capital Expenditures	-3,197	-3,867	-3,914	-2,623	-1,596
Sale of Property, Plant & Equipment	7.9	20.5	9.3	9.4	3.4
Sale (Purchase) of Intangibles	-14	-71.6	-88.5	-23.2	-10
Investment in Securities	3,896	1,998	1	-4,228	-18.4
Other Investing Activities	46.1	73	277	176	1
Investing Cash Flow	738.4	-1,847	-3,715	-6,688	-1,620
Long-Term Debt Issued	125.9	1,075	796.1	156.1	114.6
Long-Term Debt Repaid	-395.1	-839.7	-889.5	-932.3	-398.9
Net Debt Issued (Repaid)	-269.2	235.4	-93.4	-776.2	-284.3
Other Financing Activities	-116.3	-105.1	-84.5	-42.5	-53.8
Financing Cash Flow	-385.5	130.3	-177.9	-818.7	-338.1
Foreign Exchange Rate Adjustments	-0.1	-	-1.5	0.1	-0.4
Net Cash Flow	-88	-1,806	-2,147	3,538	-297.5
Free Cash Flow	-3,638	-3,956	-2,167	8,422	65
Free Cash Flow Growth	-	-	-	12857.08%	-
Free Cash Flow Margin	-38.67%	-34.93%	-14.12%	41.70%	0.61%
Free Cash Flow Per Share	-30.98	-33.70	-18.45	71.73	0.55
Cash Interest Paid	124.2	109	87.6	70.5	62.1
Cash Income Tax Paid	19.8	162	2,957	48.2	281.5
Levered Free Cash Flow	-4,607	-7,474	-1,762	6,145	-282.73
Unlevered Free Cash Flow	-4,365	-7,193	-1,467	6,258	-205.41
Change in Working Capital	1,515	523.7	730.1	86.5	-814.4

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