Consolidated statement of cash flows
| (in PLNm) | Note | Year ended December 31, 2022 |
Year ended December 31, 2021 restated data* |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Gross profit | 4.110 | 4.871 | |
| Income tax paid | (2.168) | (1.273) | |
| Adjustments for: | |||
| Share of profit of equity-accounted entities | – | 2 | |
| Depreciation, amortisation, disposal and impairment losses | 4.362 | 4.412 | |
| Interest and dividend, net | 286 | 312 | |
| Gains on investing activities | 27.1 | 18 | (363) |
| Change in receivables | 27.1 | (1.373) | (2.958) |
| Change in inventories | 27.1 | (2.727) | 866 |
| Change in CO2 emission allowances for captive use | 35 | (3.129) | |
| Change in liabilities, excluding loans and borrowings | 27.1 | 3.005 | 1.418 |
| Change in other non-financial assets, prepayments | 27.1 | (1.130) | (482) |
| Change in provisions | 27.1 | 7.147 | 3.813 |
| Other | 44 | (50) | |
| NET CASH FROM OPERATING ACTIVITIES | 11.609 | 7.439 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Sale of property, plant and equipment and intangible assets | 24 | 59 | |
| Purchase property, plant and equipment and intangible assets | 27.2 | (6.661) | (4.682) |
| Recognition of deposits with maturity over 3 months | 27.2 | (1.391) | (312) |
| Termination of deposits with maturity over 3 months | 27.2 | 1.367 | 303 |
| Purchase of financial assets | (4) | (60) | |
| Purchase of fully consolidated entity, after offsetting acquired cash | 27.2 | (797) | – |
| Sale of subsidiary | 27.2 | 111 | 368 |
| Sale of other financial assets | 23 | 63 | |
| Loss of control | 27.2 | (2) | (118) |
| Loans repaid | 16 | – | |
| Other | 18 | 12 | |
| NET CASH FROM INVESTING ACTIVITIES | (7.296) | (4.367) | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from issue of shares | 27.3 | 3.197 | – |
| Proceeds from share issue for non-controlling interests | 27.3 | 33 | 419 |
| Proceeds from loans, borrowings | 27.3 | 2.293 | 601 |
| Repayment of loans, borrowings, leases | 27.3 | (4.352) | (1.233) |
| Dividends paid | (3) | (2) | |
| Interest paid | 27.3 | (364) | (358) |
| Other | 37 | 45 | |
| NET CASH FROM FINANCING ACTIVITIES | 841 | (528) | |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 5.154 | 2.544 | |
| Net exchange differences | 7 | (17) | |
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF PERIOD | 18 | 6.733 | 4.189 |
| CASH AND CASH EQUIVALENTS AT THE END OF PERIOD | 18 | 11.887 | 6.733 |
*restatement of comparative data is described in note 5 of these consolidated financial statements.