Wittchen 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	35.32	34.24	61.29	62.89	42.24
Depreciation & Amortization	32.14	31.05	28.21	25.35	25.15
Loss (Gain) From Sale of Assets	0.23	0.05	0.03	-0.89	0.09
Other Operating Activities	1.61	-6.16	-3.52	13.65	0.15
Change in Accounts Receivable	0.15	5.17	-8.4	-10.02	2.64
Change in Inventory	24.07	-12.92	9.77	-27.39	-21.55
Change in Accounts Payable	-1.22	4.3	5.93	13.26	-7.18
Change in Other Net Operating Assets	0.63	-1.31	-0.11	0.22	0.39
Operating Cash Flow	92.92	54.42	93.19	77.07	41.93
Operating Cash Flow Growth	70.76%	-41.61%	20.91%	83.82%	10.49%
Capital Expenditures	-10.75	-11.71	-11.48	-9.26	-1.65
Sale of Property, Plant & Equipment	0.79	2.38	0.51	1.49	1.41
Investing Cash Flow	-9.96	-9.34	-10.97	-7.77	-0.24
Long-Term Debt Issued	-	37.96	8.72	-	21.07
Long-Term Debt Repaid	-68.32	-23.65	-23.45	-47.47	-15.86
Net Debt Issued (Repaid)	-68.32	14.3	-14.73	-47.47	5.22
Issuance of Common Stock	0.01	0.02	0.01	0.01	0.01
Common Dividends Paid	-	-65.82	-61.14	-55.42	-
Other Financing Activities	-3.27	-0.06	-1.75	-1.19	-0.24
Financing Cash Flow	-71.58	-51.56	-77.61	-104.08	4.99
Net Cash Flow	11.38	-6.48	4.62	-34.78	46.67
Free Cash Flow	82.17	42.7	81.71	67.82	40.28
Free Cash Flow Growth	92.42%	-47.74%	20.49%	68.36%	143.22%
Free Cash Flow Margin	17.24%	9.40%	17.49%	16.71%	14.50%
Free Cash Flow Per Share	4.44	2.31	4.41	3.70	2.20
Cash Interest Paid	-	0.06	1.75	1.19	0.24
Cash Income Tax Paid	-	18.91	20.13	7.22	11.3
Levered Free Cash Flow	74.84	38.28	64.38	52.56	29.13
Unlevered Free Cash Flow	79.52	41.4	66.85	54.46	30.31
Change in Working Capital	23.63	-4.76	7.19	-23.93	-25.7

Source: S&P Global Market Intelligence. Standard template. Financial Sources.