Fan Milk Cash Flow Statement

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

Millions GHS. 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	67.42	49.46	24.01	-41.6	-13.43
Depreciation & Amortization	-	27.5	28.92	31.54	31.84
Loss (Gain) From Sale of Assets	-	-0.18	-0.06	-1.2	-2.27
Loss (Gain) From Sale of Investments	-	3.25	2.79	1.96	4.32
Other Operating Activities	103.9	14.04	-0.46	-5.99	-11.74
Change in Accounts Receivable	-	50.28	-73.48	-45.96	-35.22
Change in Inventory	-	-8.65	45.42	17.11	-73.71
Change in Accounts Payable	-	7.52	-0.24	21.73	113.65
Change in Other Net Operating Assets	-	0.36	0.31	0.57	-0.01
Operating Cash Flow	171.32	143.58	27.22	-21.84	13.42
Operating Cash Flow Growth	19.32%	427.57%	-	-	-64.92%
Capital Expenditures	-36	-39.97	-7.42	-11.7	-47.03
Sale of Property, Plant & Equipment	-	4.75	2.67	1.78	6.17
Sale (Purchase) of Intangibles	-	-	-	-	-0.16
Investing Cash Flow	-36	-35.22	-4.74	-9.93	-41.03
Long-Term Debt Issued	-	-	-	30	40
Long-Term Debt Repaid	-3.51	-57	-17.83	-2.49	-0.83
Net Debt Issued (Repaid)	-3.51	-57	-17.83	27.51	39.17
Common Dividends Paid	-9.3	-8.17	-0.04	-0	-0.01
Other Financing Activities	3.51	-	-	-	-
Financing Cash Flow	-9.3	-65.17	-17.87	27.51	39.16
Miscellaneous Cash Flow Adjustments	-3.51	-	-	-	-
Net Cash Flow	122.51	43.18	4.6	-4.26	11.56
Free Cash Flow	135.32	103.61	19.8	-33.54	-33.61
Free Cash Flow Growth	30.60%	423.28%	-	-	-
Free Cash Flow Margin	13.52%	15.15%	3.60%	-6.25%	-7.18%
Free Cash Flow Per Share	1.16	0.89	0.17	-0.29	-0.29
Cash Interest Paid	6.05	12.66	27.28	21.76	3.33
Cash Income Tax Paid	50.52	11.07	13.5	16.24	4.3
Levered Free Cash Flow	94.07	91.24	-1.91	-14.37	-26.9
Unlevered Free Cash Flow	97.85	99.16	15.14	-0.78	-24.82
Change in Working Capital	-	49.51	-27.98	-6.55	4.71

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