Orange Polska Cash Flow Statement

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

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	866	762	913	818	724	1,672
Depreciation & Amortization	2,307	2,279	2,165	2,144	2,189	2,354
Other Amortization	433	433	407	381	343	327
Loss (Gain) From Sale of Assets	-171	-125	-113	-134	-107	-1,595
Asset Writedown & Restructuring Costs	8	8	17	46	9	49
Loss (Gain) on Equity Investments	21	22	43	32	14	-24
Other Operating Activities	213	219	76	-68	-4	191
Change in Accounts Receivable	-113	-27	22	-155	-274	47
Change in Inventory	3	62	-23	27	-7	-51
Change in Accounts Payable	102	-4	33	28	79	100
Change in Unearned Revenue	-127	-136	-18	154	-13	86
Change in Other Net Operating Assets	68	108	-111	180	-13	-55
Operating Cash Flow	3,610	3,601	3,411	3,453	2,940	3,101
Operating Cash Flow Growth	5.06%	5.57%	-1.22%	17.45%	-5.19%	3.19%
Capital Expenditures	-2,756	-2,832	-2,363	-2,241	-2,242	-1,995
Sale of Property, Plant & Equipment	183	94	197	274	275	196
Cash Acquisitions	-2	-9	-147	-61	-50	-22
Divestitures	142	182	124	133	36	872
Investment in Securities	-69	14	-177	-104	1	-
Other Investing Activities	295	-37	200	-47	-19	-207
Investing Cash Flow	-2,207	-2,588	-2,166	-2,046	-1,999	-1,156
Long-Term Debt Issued	-	651	36	99	19	26
Long-Term Debt Repaid	-	-996	-898	-1,274	-541	-1,488
Net Debt Issued (Repaid)	-750	-345	-862	-1,175	-522	-1,462
Common Dividends Paid	-696	-696	-630	-459	-328	-
Other Financing Activities	-	-	-	-	-	91
Financing Cash Flow	-1,446	-1,041	-1,492	-1,634	-850	-1,371
Foreign Exchange Rate Adjustments	2	-	-3	-3	2	1
Net Cash Flow	-41	-28	-250	-230	93	575
Free Cash Flow	854	769	1,048	1,212	698	1,106
Free Cash Flow Growth	-34.91%	-26.62%	-13.53%	73.64%	-36.89%	11.72%
Free Cash Flow Margin	6.49%	5.85%	8.23%	9.35%	5.59%	9.27%
Free Cash Flow Per Share	0.65	0.59	0.80	0.92	0.53	0.84
Cash Interest Paid	377	377	338	-	-	-
Cash Income Tax Paid	107	96	103	154	15	158
Levered Free Cash Flow	859	355.5	992	1,204	641.88	938.5
Unlevered Free Cash Flow	1,087	588.63	1,204	1,400	827.5	1,090
Change in Working Capital	-67	3	-97	234	-228	127

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