Fan Milk PLC (GHSE:FML)

Fan Milk Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	47.8	49.46	24.01	-41.6	-13.43	0.51
Depreciation & Amortization	26.91	27.5	28.92	31.54	31.84	31.44
Loss (Gain) From Sale of Assets	-0.18	-0.18	-0.06	-1.2	-2.27	-0.37
Loss (Gain) From Sale of Investments	3.25	3.25	2.79	1.96	4.32	2.48
Other Operating Activities	37.73	14.04	-0.46	-5.99	-11.74	-5.43
Change in Accounts Receivable	50.28	50.28	-73.48	-45.96	-35.22	-56.11
Change in Inventory	-8.65	-8.65	45.42	17.11	-73.71	2.23
Change in Accounts Payable	7.52	7.52	-0.24	21.73	113.65	64.56
Change in Other Net Operating Assets	0.36	0.36	0.31	0.57	-0.01	-1.07
Operating Cash Flow	165.02	143.58	27.22	-21.84	13.42	38.26
Operating Cash Flow Growth	22.35%	427.57%	-	-	-64.92%	409.86%
Capital Expenditures	-34.5	-39.97	-7.42	-11.7	-47.03	-22.83
Sale of Property, Plant & Equipment	4.75	4.75	2.67	1.78	6.17	1.2
Sale (Purchase) of Intangibles	-	-	-	-	-0.16	-0.01
Investing Cash Flow	25.69	-35.22	-4.74	-9.93	-41.03	-21.64
Long-Term Debt Issued	-	-	-	30	40	-
Long-Term Debt Repaid	-	-57	-17.83	-2.49	-0.83	-1.6
Net Debt Issued (Repaid)	-57	-57	-17.83	27.51	39.17	-1.6
Common Dividends Paid	-11.66	-8.17	-0.04	-0	-0.01	-0.03
Financing Cash Flow	-68.66	-65.17	-17.87	27.51	39.16	-1.63
Net Cash Flow	122.05	43.18	4.6	-4.26	11.56	14.99
Free Cash Flow	130.52	103.61	19.8	-33.54	-33.61	15.43
Free Cash Flow Growth	20.97%	423.28%	-	-	-	-
Free Cash Flow Margin	14.07%	15.15%	3.60%	-6.25%	-7.18%	4.13%
Free Cash Flow Per Share	1.12	0.89	0.17	-0.29	-0.29	0.13
Cash Interest Paid	5.6	12.66	27.28	21.76	3.33	2.03
Cash Income Tax Paid	30.52	11.07	13.5	16.24	4.3	5.76
Levered Free Cash Flow	126.49	91.24	-1.91	-14.37	-26.9	17.09
Unlevered Free Cash Flow	136.74	99.16	15.14	-0.78	-24.82	18.06
Change in Working Capital	49.51	49.51	-27.98	-6.55	4.71	9.62

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.