Torpol Cash Flow Statement

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

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	76.58	67.91	101.92	183.84	77.08	48.59
Depreciation & Amortization	26.35	24.97	23.9	23.3	21.26	22.8
Other Amortization	0.87	0.87	0.85	0.95	0.94	-
Loss (Gain) From Sale of Assets	-0.1	-0.4	1.43	-0.33	-0.35	-0.31
Other Operating Activities	-2.95	-5.18	-0.54	22.68	-14.85	-35.89
Change in Accounts Receivable	-90.82	-367.35	-77.83	40.36	135.26	464.21
Change in Inventory	35.37	28.23	-52.32	-21.93	9.77	-12.5
Change in Other Net Operating Assets	53.07	38.47	49.55	-73.7	-94.68	-197.57
Operating Cash Flow	98.38	-212.48	46.96	175.18	134.43	289.32
Operating Cash Flow Growth	-	-	-73.19%	30.31%	-53.53%	61.84%
Capital Expenditures	-30.34	-28.07	-27.04	-15.25	-7.59	-5.96
Sale of Property, Plant & Equipment	4.17	2.8	0.67	0.76	0.82	1.27
Other Investing Activities	7.81	10.41	25.23	11.95	-1.46	-3.69
Investing Cash Flow	-18.36	-14.87	-1.14	-2.55	-8.23	-8.37
Long-Term Debt Issued	-	4.93	-	4.65	-	0.91
Total Debt Issued	4.93	4.93	-	4.65	-	0.91
Long-Term Debt Repaid	-	-18.65	-19.58	-37.44	-62.59	-53.11
Total Debt Repaid	-25.52	-18.65	-19.58	-37.44	-62.59	-53.11
Net Debt Issued (Repaid)	-20.59	-13.72	-19.58	-32.79	-62.59	-52.19
Common Dividends Paid	-31.01	-48.47	-	-68.91	-35.14	-20.67
Other Financing Activities	0.35	13.92	-6.39	-6.66	-1.5	-4.03
Financing Cash Flow	-51.25	-48.26	-25.97	-108.35	-99.24	-76.9
Net Cash Flow	28.77	-275.61	19.85	64.28	26.97	204.06
Free Cash Flow	68.04	-240.55	19.93	159.93	126.84	283.37
Free Cash Flow Growth	-	-	-87.54%	26.08%	-55.24%	77.06%
Free Cash Flow Margin	3.56%	-16.50%	1.82%	14.74%	11.31%	20.35%
Free Cash Flow Per Share	2.96	-10.47	0.87	6.96	5.52	12.34
Cash Interest Paid	5.49	5.11	6.39	6.66	2.97	5.07
Cash Income Tax Paid	14.43	10.68	10.96	17.22	43.04	50.04
Levered Free Cash Flow	44.6	-267.79	12.37	57.9	109.44	277.53
Unlevered Free Cash Flow	48.69	-264.01	17.66	63.94	112.52	281.53
Change in Working Capital	-2.37	-300.65	-80.59	-55.26	50.35	254.13

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.