Fan Milk Cash Flow Statement

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

Millions GHS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	71.85	68.33	49.46	24.01	-41.6	-13.43
Depreciation & Amortization	29.8	28.79	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	0.54	0.54	3.25	2.79	1.96	4.32
Other Operating Activities	105.94	-19.7	14.04	-0.46	-5.99	-11.74
Change in Accounts Receivable	58.84	58.84	50.28	-73.48	-45.96	-35.22
Change in Inventory	14.75	14.75	-8.65	45.42	17.11	-73.71
Change in Accounts Payable	17.16	17.16	7.52	-0.24	21.73	113.65
Change in Other Net Operating Assets	0.13	0.13	0.36	0.31	0.57	-0.01
Operating Cash Flow	299.02	168.85	143.58	27.22	-21.84	13.42
Operating Cash Flow Growth	134.54%	17.60%	427.57%	-	-	-64.92%
Capital Expenditures	-30.72	-31.72	-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	-2.89	-2.89	-	-	-	-0.16
Investing Cash Flow	-33.44	-34.61	-35.22	-4.74	-9.93	-41.03
Long-Term Debt Issued	-	-	-	-	30	40
Long-Term Debt Repaid	-	-2.43	-57	-17.83	-2.49	-0.83
Net Debt Issued (Repaid)	-2.43	-2.43	-57	-17.83	27.51	39.17
Common Dividends Paid	-9.3	-9.3	-8.17	-0.04	-0	-0.01
Financing Cash Flow	-11.73	-11.73	-65.17	-17.87	27.51	39.16
Net Cash Flow	253.85	122.51	43.18	4.6	-4.26	11.56
Free Cash Flow	268.3	137.13	103.61	19.8	-33.54	-33.61
Free Cash Flow Growth	221.86%	32.36%	423.28%	-	-	-
Free Cash Flow Margin	24.84%	13.70%	15.15%	3.60%	-6.25%	-7.18%
Free Cash Flow Per Share	2.31	1.18	0.89	0.17	-0.29	-0.29
Cash Interest Paid	1.15	-	-	27.28	21.76	3.33
Cash Income Tax Paid	62.63	55.63	11.07	13.5	16.24	4.3
Levered Free Cash Flow	-	130.98	91.24	-1.91	-14.37	-26.9
Unlevered Free Cash Flow	-	134.26	99.16	15.14	-0.78	-24.82
Change in Working Capital	90.88	90.88	49.51	-27.98	-6.55	4.71

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