Zabka Group 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	1,102	624.26	353.72	382.33	487.3
Depreciation & Amortization	1,679	1,494	1,231	1,027	859.94
Other Amortization	210.91	210.22	128.34	87.51	55.47
Loss (Gain) From Sale of Assets	-7.23	-1.92	-7.05	-64.73	5.4
Asset Writedown & Restructuring Costs	3.23	15.37	14.16	3.44	-
Loss (Gain) on Equity Investments	4.11	-	-	-	-
Stock-Based Compensation	170.27	34.82	-	-	-
Other Operating Activities	556.59	834.57	657.38	611.1	382.02
Change in Accounts Receivable	-420.81	-224.92	-439.84	-411.82	-251.69
Change in Inventory	-57.63	-266.01	-178.75	-171.37	-94.96
Change in Accounts Payable	748.58	931.53	339.23	540.14	607.74
Change in Unearned Revenue	1.94	9.14	6.77	4.84	1.27
Change in Other Net Operating Assets	119.19	107.52	74.43	189.99	16.9
Operating Cash Flow	4,109	3,768	2,179	2,199	2,070
Operating Cash Flow Growth	9.05%	72.92%	-0.88%	6.23%	-
Capital Expenditures	-1,624	-1,507	-1,473	-1,324	-1,060
Sale of Property, Plant & Equipment	4.9	136.57	7.89	340.32	33.95
Cash Acquisitions	3.14	-50.18	-2.43	-4.16	-286.74
Investment in Securities	10.25	-16.65	47.04	-47.04	-1
Other Investing Activities	22.65	57.59	33.83	6.2	0.14
Investing Cash Flow	-1,586	-1,191	-1,575	-1,030	-1,333
Long-Term Debt Issued	2,694	1,022	5,278	151.08	419.58
Long-Term Debt Repaid	-3,920	-2,396	-4,435	-874.68	-746.51
Net Debt Issued (Repaid)	-1,226	-1,374	843.31	-723.6	-326.94
Issuance of Common Stock	-	-	-	-	0.29
Repurchase of Common Stock	-82.57	-	-	-	-
Other Financing Activities	-885.71	-1,103	-1,079	-647.31	-302.61
Financing Cash Flow	-2,194	-2,477	-235.62	-1,371	-629.25
Net Cash Flow	329.41	100.44	368.44	-202.5	107.1
Free Cash Flow	2,486	2,261	706.17	874.74	1,010
Free Cash Flow Growth	9.92%	220.20%	-19.27%	-13.35%	-
Free Cash Flow Margin	9.15%	9.50%	3.56%	5.47%	8.08%
Free Cash Flow Per Share	2.48	2.26	0.71	14.21	16.40
Cash Interest Paid	885.71	967.86	1,060	647.31	302.61
Cash Income Tax Paid	297.68	166.88	308.4	200.1	84.43
Levered Free Cash Flow	1,160	1,300	-267.02	396.51	-
Unlevered Free Cash Flow	1,726	1,913	326.78	826.55	-
Change in Working Capital	391.28	557.26	-198.16	151.78	279.26

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