Orlen 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	11,110	1,469	20,922	39,677	11,122
Depreciation & Amortization	14,358	15,169	15,853	7,603	4,424
Loss (Gain) From Sale of Assets	321	357	-	230	-15
Asset Writedown & Restructuring Costs	7,952	12,360	14,553	6,165	106
Loss (Gain) From Sale of Investments	-	-	-	-	-169
Loss (Gain) on Equity Investments	-525	140	1,617	-284	-613
Other Operating Activities	11,770	-798	-17,554	-5,234	2,882
Change in Accounts Receivable	2,266	7,989	-3,201	-11,630	-3,790
Change in Inventory	2,080	1,370	8,886	-5,452	-5,769
Change in Accounts Payable	-	-1,422	838	-	-
Change in Other Net Operating Assets	-1,968	-	-	1,563	5,117
Operating Cash Flow	47,364	36,634	41,914	32,638	13,295
Operating Cash Flow Growth	29.29%	-12.60%	28.42%	145.49%	83.45%
Capital Expenditures	-30,076	-30,937	-36,187	-20,236	-11,225
Sale of Property, Plant & Equipment	-	299	1,118	103	95
Cash Acquisitions	-877	-3,550	537	15,555	-772
Investment in Securities	-	-2	-1,147	4,335	27
Other Investing Activities	104	143	298	451	2,134
Investing Cash Flow	-30,849	-34,051	-36,409	235	-9,739
Long-Term Debt Issued	15,853	12,961	9,954	11,775	17,617
Long-Term Debt Repaid	-10,201	-12,228	-14,746	-24,092	-18,176
Net Debt Issued (Repaid)	5,652	733	-4,792	-12,317	-559
Common Dividends Paid	-6,967	-4,818	-6,385	-1,497	-1,497
Other Financing Activities	125	-676	-880	-756	50
Financing Cash Flow	-1,190	-4,761	-12,057	-14,570	-2,006
Foreign Exchange Rate Adjustments	81	-62	-1,212	-153	106
Net Cash Flow	15,406	-2,240	-7,764	18,150	1,656
Free Cash Flow	17,288	5,697	5,727	12,402	2,070
Free Cash Flow Growth	203.46%	-0.52%	-53.82%	499.13%	-
Free Cash Flow Margin	6.47%	1.93%	1.54%	4.39%	1.58%
Free Cash Flow Per Share	14.89	4.91	4.93	10.68	4.84
Cash Interest Paid	1,273	950	1,048	864	151
Cash Income Tax Paid	5,437	5,123	16,598	5,053	1,194
Levered Free Cash Flow	2,849	1,215	6,091	14,968	230
Unlevered Free Cash Flow	3,921	1,463	5,652	15,586	538.75
Change in Working Capital	2,378	7,937	6,523	-15,519	-4,442

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.