ZE PAK SA (WSE:ZEP)

ZE PAK Cash Flow Statement

Financials in millions PLN. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-164.43	262.93	745.11	203.31	-317
Depreciation & Amortization	38.54	16.91	37.7	49.48	135.53
Other Amortization	-	0.1	0.11	-	-
Loss (Gain) on Sale of Assets	22.12	-9.02	367.07	-0.62	-25.24
Asset Writedown	-	-	-	-	620.17
Change in Accounts Receivable	97.15	407.5	-256.51	498.01	-1,022
Change in Inventory	2.96	7.37	2.91	-46.73	-6.38
Change in Other Net Operating Assets	478.22	510.7	814.55	1,110	1,472
Other Operating Activities	21.93	-716.44	-2,307	-1,310	-850.82
Net Cash from Discontinued Operations	-	-	156.55	-	-
Operating Cash Flow	496.49	480.05	-439.03	503.26	6.56
Operating Cash Flow Growth	3.43%	-	-	7577.44%	-96.06%
Capital Expenditures	-1,030	-481.85	-575.95	-601.74	-409.72
Sale of Property, Plant & Equipment	5.52	24.79	4.72	23.9	31.82
Cash Acquisitions	-	-	-7.59	-	-
Investment in Securities	-26.04	-22.39	-157.98	-73.82	-13.32
Other Investing Activities	4.89	1.05	19.07	0.48	-0
Investing Cash Flow	-1,045	-478.41	-488.7	-651.18	-391.23
Long-Term Debt Issued	570	-	-	945.59	492.64
Long-Term Debt Repaid	-4.7	-29.43	-	-290.87	-95.42
Net Debt Issued (Repaid)	565.3	-29.43	-	654.72	397.22
Other Financing Activities	-0.28	-0.26	-1.01	449.28	-3.74
Financing Cash Flow	565.02	-29.69	-1.01	1,104	393.48
Net Cash Flow	16.17	-28.05	-928.74	956.08	8.81
Free Cash Flow	-533.22	-1.81	-1,015	-98.48	-403.17
Free Cash Flow Margin	-39.98%	-0.09%	-34.46%	-3.77%	-17.68%
Free Cash Flow Per Share	-10.49	-0.04	-19.97	-1.94	-7.93
Cash Interest Paid	-	0.26	1.01	30.13	3.74
Cash Income Tax Paid	-	15.76	93.54	121.64	-15.19
Levered Free Cash Flow	-454.22	-18.63	-1,169	-189.51	-570.69
Unlevered Free Cash Flow	-423.67	-16.07	-1,136	-173.91	-567.37
Change in Working Capital	578.33	925.57	560.95	1,561	443.92

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