Stalexport Autostrady 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	122.82	127.37	189.29	141.13	63.46	123.63
Depreciation & Amortization	45.38	99.16	101.38	90.56	84.99	80.23
Other Adjustments	-83.67	-37.42	-44.08	-57.13	-31.85	-0.35
Change in Receivables	-0.01	2.54	-73.31	-11.55	0.85	-7.13
Changes in Inventories	-	0.74	-0.16	0	-0.11	-0.05
Changes in Accounts Payable	1.37	70.39	-7.62	27.03	13.86	12.68
Changes in Other Operating Activities	26.5	-81.99	-30.1	-38.73	100.94	-28.48
Operating Cash Flow	37.57	180.42	81.43	151.32	232.14	180.54
Operating Cash Flow Growth	-56.05%	121.57%	-46.19%	-34.82%	28.59%	35.07%
Capital Expenditures	-41.29	-35.86	-272.83	-60.04	-58.34	-57.09
Sale of Property, Plant & Equipment	-	0.35	0.67	0.47	0.29	0.29
Purchases of Investments	-	-	-	-	-98.94	-925.16
Proceeds from Sale of Investments	-	-	-	-	100	1,060
Other Investing Activities	20.49	37.59	44.03	57.16	32.05	0.27
Investing Cash Flow	38.79	2.09	-228.14	-2.4	-24.93	78.31
Long-Term Debt Repaid	-0.2	-5.65	-5.4	-5.1	-4.38	-0.13
Net Long-Term Debt Issued (Repaid)	-0.2	-5.65	-5.4	-5.1	-4.38	-0.13
Common Dividends Paid	-2.43	-325.57	-236.81	-114.42	-128.42	-324.8
Other Financing Activities	-	-0.02	-0	-	-	-
Financing Cash Flow	-163.92	-168.45	-123.81	-62.31	-68.59	-162.53
Net Cash Flow	-87.56	14.05	-270.52	86.61	138.62	96.32
Free Cash Flow	-3.72	144.56	-191.41	91.28	173.81	123.44
Free Cash Flow Growth	-	-	-	-47.48%	40.80%	32.90%
FCF Margin	-	22.55%	-32.65%	17.94%	41.99%	34.27%
Free Cash Flow Per Share	-0.02	0.58	-0.77	0.37	0.70	0.50
Levered Free Cash Flow	98	133.1	-81.81	129.89	179.9	97.73
Unlevered Free Cash Flow	-108.99	130.88	-82.93	118.48	182.2	104.03