Orzel Bialy 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	72.9	99.36	106.52	100.38	63.43
Depreciation & Amortization	-	9.45	10.43	9.78	9.38
Loss (Gain) From Sale of Assets	-	3.96	-4.79	-0.01	0.06
Other Operating Activities	41.84	-29.34	-19.56	6.86	9.23
Change in Accounts Receivable	-	10.89	39.54	-30.3	-75.15
Change in Inventory	-	50.95	-37.65	-0.35	-1.33
Change in Other Net Operating Assets	-	-1.9	-5.79	14.89	-8.19
Operating Cash Flow	114.74	143.37	88.7	101.26	-2.57
Operating Cash Flow Growth	-19.97%	61.65%	-12.40%	-	-
Capital Expenditures	-	-8.01	-4.18	-9.02	-6.38
Sale of Property, Plant & Equipment	-	0.18	-	0.01	0.66
Investment in Securities	-	-180.46	-145.07	-2.94	-
Other Investing Activities	-119.74	16.75	11	2.98	0.01
Investing Cash Flow	-119.74	-171.54	-117.65	-8.98	-16.31
Short-Term Debt Issued	-	-	0.11	-	-
Total Debt Issued	-	-	0.11	-	-
Short-Term Debt Repaid	-	-	-0.11	-	-
Long-Term Debt Repaid	-	-	-	-	-2.07
Total Debt Repaid	-	-	-0.11	-	-2.07
Net Debt Issued (Repaid)	-	-	0	-	-2.07
Common Dividends Paid	-	-16.65	-	-	-
Other Financing Activities	-21.34	-1.12	-2.45	-1.83	-2.65
Financing Cash Flow	-21.34	-17.77	-2.45	-1.83	-4.72
Net Cash Flow	-26.35	-45.94	-31.41	90.45	-23.59
Free Cash Flow	114.74	135.37	84.51	92.24	-8.95
Free Cash Flow Growth	-15.24%	60.17%	-8.37%	-	-
Free Cash Flow Margin	19.96%	19.36%	11.47%	10.41%	-1.35%
Free Cash Flow Per Share	6.89	8.13	5.08	5.54	-0.54
Cash Interest Paid	-	0.06	0.21	0.12	0.07
Cash Income Tax Paid	-	33.95	34.85	18.97	10.35
Levered Free Cash Flow	-	119.45	58.73	61.97	-24.77
Unlevered Free Cash Flow	-	120.3	59.46	63.97	-24.07
Change in Working Capital	-	59.95	-3.9	-15.76	-84.66

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