Zabka Group 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
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
Net Income	777.26	624.26	353.72	382.33	487.3
Depreciation & Amortization	1,662	1,494	1,231	1,027	859.94
Other Amortization	210.22	210.22	128.34	87.51	55.47
Loss (Gain) From Sale of Assets	-1.92	-1.92	-7.05	-64.73	5.4
Asset Writedown & Restructuring Costs	15.37	15.37	14.16	3.44	-
Stock-Based Compensation	183.82	34.82	-	-	-
Other Operating Activities	654.89	834.89	657.38	611.1	382.02
Change in Accounts Receivable	-402.92	-224.92	-439.84	-411.82	-251.69
Change in Inventory	-263.01	-266.01	-178.75	-171.37	-94.96
Change in Accounts Payable	817.53	931.53	339.23	540.14	607.74
Change in Unearned Revenue	9.14	9.14	6.77	4.84	1.27
Change in Other Net Operating Assets	97.2	107.2	74.43	189.99	16.9
Operating Cash Flow	3,759	3,768	2,179	2,199	2,070
Operating Cash Flow Growth	4.16%	72.92%	-0.88%	6.23%	-
Capital Expenditures	-1,748	-1,507	-1,473	-1,324	-1,060
Sale of Property, Plant & Equipment	136.57	136.57	7.89	340.32	33.95
Cash Acquisitions	45.82	-50.18	-2.43	-4.16	-286.74
Investment in Securities	-16.65	-16.65	47.04	-47.04	-1
Other Investing Activities	-17.41	57.59	33.83	6.2	0.14
Investing Cash Flow	-1,411	-1,191	-1,575	-1,030	-1,333
Long-Term Debt Issued	-	1,022	5,278	151.08	419.58
Long-Term Debt Repaid	-	-2,396	-4,435	-874.68	-746.51
Net Debt Issued (Repaid)	-1,495	-1,374	843.31	-723.6	-326.94
Issuance of Common Stock	-	-	-	-	0.29
Other Financing Activities	-1,060	-1,103	-1,079	-647.31	-302.61
Financing Cash Flow	-2,638	-2,477	-235.62	-1,371	-629.25
Net Cash Flow	-287.56	100.44	368.44	-202.5	107.1
Free Cash Flow	2,011	2,261	706.17	874.74	1,010
Free Cash Flow Growth	-8.21%	220.20%	-19.27%	-13.35%	-
Free Cash Flow Margin	7.65%	9.50%	3.56%	5.47%	8.08%
Free Cash Flow Per Share	-	2.26	0.71	14.21	16.40
Cash Interest Paid	924.86	967.86	1,060	647.31	302.61
Cash Income Tax Paid	340.88	166.88	308.4	200.1	84.43
Levered Free Cash Flow	1,206	1,300	-267.02	396.51	-
Unlevered Free Cash Flow	1,796	1,913	326.78	826.55	-
Change in Working Capital	257.95	556.95	-198.16	151.78	279.26

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