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	1,106	803.71	509.69	548.8	649.22
Depreciation & Amortization	1,890	1,704	1,359	1,115	915.41
Stock-Based Compensation	170.27	34.82	-	-	-
Other Adjustments	849.86	835.77	816.91	583.43	310.17
Change in Receivables	-420.81	-224.92	-439.84	-411.82	-251.69
Changes in Inventories	-57.63	-266.01	-178.75	-171.37	-94.96
Changes in Accounts Payable	748.58	931.53	339.23	540.14	607.74
Changes in Income Taxes Payable	-297.68	-166.88	-308.4	-200.1	-84.43
Changes in Unearned Revenue	1.94	9.14	6.77	4.84	1.27
Changes in Other Operating Activities	119.12	107.2	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
Purchases of Investments	-	-6.3	-	-	-1
Payments for Business Acquisitions	-	-50.18	-2.43	-4.16	-286.74
Other Investing Activities	33.27	236.04	-107.58	-42.48	-19.37
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 Long-Term 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	-	-	-	-
Net Common Stock Issued (Repurchased)	-82.57	-	-	-	0.29
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%	-
FCF Margin	9.15%	9.50%	3.57%	5.47%	8.08%
Free Cash Flow Per Share	2.48	2.26	11.48	14.21	16.40
Levered Free Cash Flow	655.65	61.96	1,016	-186.94	462.18
Unlevered Free Cash Flow	2,678	2,035	784.34	1,007	1,039

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.