WSE:RAF Income 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
Revenue	71.99	81.38	119.43	117.78	103.22
Revenue Growth (YoY)	-11.53%	-31.86%	1.40%	14.11%	-6.62%
Cost of Revenue	59.79	78.18	98.6	99.07	78.28
Gross Profit	12.21	3.19	20.83	18.71	24.94
Selling, General & Admin	26.96	27.9	25.86	24.33	23.04
Other Operating Expenses	2.75	18.03	-2.03	-2.26	-0.28
Operating Expenses	29.71	45.93	23.83	22.07	22.76
Operating Income	-17.51	-42.73	-3	-3.36	2.17
Interest Expense	-11.07	-6.05	-5.89	-4.21	-1.24
Interest & Investment Income	0.38	0.25	0.3	0.27	0.03
Currency Exchange Gain (Loss)	-0.23	-0.12	0.01	-0.92	-0.86
Other Non Operating Income (Expenses)	-0.1	-0.26	-0.4	-0.35	-0.45
EBT Excluding Unusual Items	-28.52	-48.91	-8.98	-8.57	-0.34
Merger & Restructuring Charges	-	-	-0.03	-0.04	-0.06
Gain (Loss) on Sale of Investments	-	-	-	-0	0.03
Gain (Loss) on Sale of Assets	-	2.43	0.09	0.2	0.02
Asset Writedown	-4.79	-18.13	-4.15	-	-
Legal Settlements	-0.18	-0.14	-0.02	-0.02	-0.01
Other Unusual Items	-1.84	-0.05	0.06	-0.02	0.07
Pretax Income	-35.26	-64.76	-12.96	-8.21	-0.19
Income Tax Expense	0.44	-5.96	-2.4	-0.98	0.1
Net Income	-35.7	-58.8	-10.55	-7.22	-0.29
Net Income to Common	-35.7	-58.8	-10.55	-7.22	-0.29
Shares Outstanding (Basic)	7	5	5	4	4
Shares Outstanding (Diluted)	7	5	5	4	4
Shares Change (YoY)	27.85%	-	24.70%	-	-
EPS (Basic)	-5.18	-10.92	-1.96	-1.67	-0.07
EPS (Diluted)	-5.18	-10.92	-1.96	-1.67	-0.07
Free Cash Flow	-12.62	6.39	-5.97	-0.02	-6.64
Free Cash Flow Per Share	-1.83	1.19	-1.11	-0.01	-1.54
Gross Margin	16.96%	3.92%	17.44%	15.88%	24.16%
Operating Margin	-24.32%	-52.51%	-2.51%	-2.85%	2.11%
Profit Margin	-49.59%	-72.25%	-8.84%	-6.13%	-0.28%
Free Cash Flow Margin	-17.52%	7.85%	-5.00%	-0.02%	-6.43%
EBITDA	-11.09	-37.25	3.14	3.34	10
EBITDA Margin	-15.40%	-45.78%	2.63%	2.83%	9.69%
D&A For EBITDA	6.42	5.48	6.14	6.7	7.83
EBIT	-17.51	-42.73	-3	-3.36	2.17
EBIT Margin	-24.32%	-52.51%	-2.51%	-2.85%	2.11%

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