Orzel Bialy 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	81.32	99.36	106.52	100.38	63.43	48.64
Depreciation & Amortization	9.51	9.45	10.43	9.78	9.38	10.48
Loss (Gain) From Sale of Assets	2.25	3.96	-4.79	-0.01	0.06	-18.04
Other Operating Activities	-29.85	-29.34	-19.56	6.86	9.23	7.39
Change in Accounts Receivable	20.26	10.89	39.54	-30.3	-75.15	15.71
Change in Inventory	56.48	50.95	-37.65	-0.35	-1.33	3.69
Change in Other Net Operating Assets	9.45	-1.9	-5.79	14.89	-8.19	16.59
Operating Cash Flow	149.42	143.37	88.7	101.26	-2.57	84.46
Operating Cash Flow Growth	72.24%	61.65%	-12.40%	-	-	-
Capital Expenditures	-6.69	-8.01	-4.18	-9.02	-6.38	-3.82
Sale of Property, Plant & Equipment	0.07	0.18	-	0.01	0.66	0.31
Investment in Securities	-111.35	-180.46	-145.07	-2.94	-	18.84
Other Investing Activities	21.64	16.75	11	2.98	0.01	0.05
Investing Cash Flow	-96.33	-171.54	-117.65	-8.98	-16.31	5.38
Short-Term Debt Issued	-	-	0.11	-	-	-
Total Debt Issued	-0.01	-	0.11	-	-	-
Short-Term Debt Repaid	-	-	-0.11	-	-	-
Long-Term Debt Repaid	-	-	-	-	-2.07	-45.3
Total Debt Repaid	-0.07	-	-0.11	-	-2.07	-45.3
Net Debt Issued (Repaid)	-0.08	-	0	-	-2.07	-45.3
Common Dividends Paid	-19.98	-16.65	-	-	-	-
Other Financing Activities	-1.27	-1.12	-2.45	-1.83	-2.65	-1.61
Financing Cash Flow	-21.33	-17.77	-2.45	-1.83	-4.72	-46.91
Net Cash Flow	31.77	-45.94	-31.41	90.45	-23.59	42.92
Free Cash Flow	142.73	135.37	84.51	92.24	-8.95	80.64
Free Cash Flow Growth	76.05%	60.17%	-8.37%	-	-	-
Free Cash Flow Margin	23.39%	19.36%	11.47%	10.41%	-1.35%	15.74%
Free Cash Flow Per Share	8.57	8.13	5.08	5.54	-0.54	4.84
Cash Interest Paid	0.21	0.06	0.21	0.12	0.07	0.15
Cash Income Tax Paid	23.91	33.95	34.85	18.97	10.35	2.22
Levered Free Cash Flow	170.94	119.45	58.73	61.97	-24.77	83.34
Unlevered Free Cash Flow	172.49	120.3	59.46	63.97	-24.07	83.6
Change in Working Capital	86.19	59.95	-3.9	-15.76	-84.66	35.99

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.