WSE:PHN 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 2022	FY 2021	FY 2020
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	39.9	-	-	13.3	63	77.6
Depreciation & Amortization	5.3	8.2	-1.2	0.8	0.9	4.3
Other Adjustments	61.1	10.6	138.2	-5.6	-23.5	129.6
Changes in Income Taxes Payable	-4.7	-86.8	-23.1	-0.2	0.5	-17.5
Changes in Other Operating Activities	-0.8	-	-	-19.2	-47	19.9
Operating Cash Flow	112.4	296.2	168.9	-10.9	-6.1	213.9
Operating Cash Flow Growth	-70.17%	75.37%	-	-	-	31.07%
Capital Expenditures	-39.8	-121.4	-94.5	-0.3	-0.4	-165.1
Sale of Property, Plant & Equipment	-	31.7	5.4	0	0	0
Cash Acquisitions	-	-	-	0	-5.8	-26
Proceeds from Business Divestments	-	-	-	-	-	3.3
Other Investing Activities	-	0	-2	-28.8	-247.8	24.9
Investing Cash Flow	-86.4	-89.7	-91.1	-29.1	-254	-162.9
Long-Term Debt Issued	53.7	155.9	148.1	96	44.3	346.8
Long-Term Debt Repaid	-52	-165.1	161.4	-10.3	-4.1	-67.8
Net Long-Term Debt Issued (Repaid)	1.7	-9.2	309.5	85.7	40.2	279
Common Dividends Paid	-	-	-	-18.5	-17.9	-27.6
Other Financing Activities	-54	-114.3	-117	-40.4	-15	-32.5
Financing Cash Flow	-259.4	-243.5	-46.1	26.8	7.3	218.9
Net Cash Flow	-233.4	-37	31.7	-13.2	-252.8	269.9
Free Cash Flow	72.6	174.8	74.4	-11.2	-6.5	48.8
Free Cash Flow Growth	-78.55%	134.95%	-	-	-	-
FCF Margin	8.79%	17.55%	8.95%	-28.21%	-16.50%	6.31%
Free Cash Flow Per Share	1.42	3.41	1.45	-0.22	-0.13	0.95
Levered Free Cash Flow	-4.7	-5.2	7.7	102.6	144.8	166.2
Unlevered Free Cash Flow	9.18	-1.19	-141.09	-8.2	21.34	-103.86