Newag S.A. (WSE:NWG)

Newag Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	432.26	355.9	122.13	95.18	22.76	71.66
Depreciation & Amortization	54.58	53.33	46.8	41.86	41.2	41.3
Other Amortization	4.73	4.73	3.59	2.43	2.46	2.41
Loss (Gain) From Sale of Assets	0.34	-	19.12	-3.5	1.73	-13.8
Other Operating Activities	10.19	45.52	26.89	41.1	44.43	-4.19
Change in Accounts Receivable	-75.24	97.22	-131.6	74.96	-88.22	106.31
Change in Inventory	105.48	-108.81	-118.63	41.71	-54.03	-120.31
Change in Accounts Payable	-175.68	-	-	396.95	8.44	59.79
Change in Other Net Operating Assets	31.18	25.05	20.64	3.79	14.05	-6.01
Operating Cash Flow	387.86	472.94	-11.07	694.48	-7.18	137.15
Operating Cash Flow Growth	121.85%	-	-	-	-	-47.12%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-68.7	-46.12	-68.1	-32.65	-13.47	-62.86
Sale of Property, Plant & Equipment	0.6	0.55	3.72	4.31	18.83	52.83
Divestitures	0	7.11	-	-	-	0.3
Other Investing Activities	13.98	10.83	11.96	1.66	0.01	0.3
Investing Cash Flow	-54.13	-27.63	-52.42	-26.62	5.44	-2.8

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	60	4.02	3.47	106.19	302.97
Long-Term Debt Repaid	-	-86.09	-89.79	-197.07	-137.35	-323.19
Net Debt Issued (Repaid)	-137.48	-26.09	-85.77	-193.6	-31.16	-20.22
Common Dividends Paid	-135.28	-90	-43.2	-	-11.25	-67.5
Other Financing Activities	-17.14	-20.01	-23.77	-36.69	-37.49	-14.29
Financing Cash Flow	-289.9	-136.1	-152.74	-230.29	-79.91	-102.01

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	0.12	0.09	-0.04	0.18	-0.2	0.29
Net Cash Flow	43.95	309.3	-216.27	437.75	-81.84	32.64

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	319.16	426.83	-79.18	661.83	-20.65	74.3
Free Cash Flow Growth	210.43%	-	-	-	-	-62.52%
Free Cash Flow Margin	11.85%	17.89%	-4.98%	53.76%	-2.14%	8.10%
Free Cash Flow Per Share	7.08	9.48	-1.76	14.71	-0.46	1.65
Levered Free Cash Flow	280.55	373.63	-108.74	659.53	-42.49	-0.03
Unlevered Free Cash Flow	286.29	380.44	-99.61	677.33	-21.02	6.47

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	12.92	12.92	15.94	30.83	35.72	12.39
Cash Income Tax Paid	39.33	39.33	12.58	10.55	-6.77	26.62
Change in Working Capital	-114.25	13.46	-229.59	517.4	-119.76	39.77

Data Source: S&P Global Market Intelligence Last updated: Sep 18, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 25, 2026

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