Torpol 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	78.09	67.91	101.92	183.84	77.08
Depreciation & Amortization	27.1	24.97	23.9	23.3	21.26
Other Amortization	-	0.87	0.85	0.95	0.94
Loss (Gain) From Sale of Assets	-0.23	-0.4	1.43	-0.33	-0.35
Other Operating Activities	-23.15	-5.18	-0.54	22.68	-14.85
Change in Accounts Receivable	275.63	-367.35	-77.83	40.36	135.26
Change in Inventory	-8.89	28.23	-52.32	-21.93	9.77
Change in Other Net Operating Assets	159.34	38.47	49.55	-73.7	-94.68
Operating Cash Flow	507.88	-212.48	46.96	175.18	134.43
Operating Cash Flow Growth	-	-	-73.19%	30.31%	-53.53%
Capital Expenditures	-41.84	-28.07	-27.04	-15.25	-7.59
Sale of Property, Plant & Equipment	2.36	2.8	0.67	0.76	0.82
Other Investing Activities	8.05	10.41	25.23	11.95	-1.46
Investing Cash Flow	-31.43	-14.87	-1.14	-2.55	-8.23
Long-Term Debt Issued	3.27	4.93	-	4.65	-
Total Debt Issued	3.27	4.93	-	4.65	-
Long-Term Debt Repaid	-28.2	-18.65	-19.58	-37.44	-62.59
Total Debt Repaid	-28.2	-18.65	-19.58	-37.44	-62.59
Net Debt Issued (Repaid)	-24.93	-13.72	-19.58	-32.79	-62.59
Common Dividends Paid	-31.01	-48.47	-	-68.91	-35.14
Other Financing Activities	-5.06	13.92	-6.39	-6.66	-1.5
Financing Cash Flow	-61.01	-48.26	-25.97	-108.35	-99.24
Net Cash Flow	415.44	-275.61	19.85	64.28	26.97
Free Cash Flow	466.04	-240.55	19.93	159.93	126.84
Free Cash Flow Growth	-	-	-87.54%	26.08%	-55.24%
Free Cash Flow Margin	23.56%	-16.50%	1.82%	14.74%	11.31%
Free Cash Flow Per Share	20.29	-10.47	0.87	6.96	5.52
Cash Interest Paid	-	5.11	6.39	6.66	2.97
Cash Income Tax Paid	-	10.68	10.96	17.22	43.04
Levered Free Cash Flow	470.02	-267.79	12.37	57.9	109.44
Unlevered Free Cash Flow	475.15	-264.01	17.66	63.94	112.52
Change in Working Capital	426.08	-300.65	-80.59	-55.26	50.35

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