Zambian Breweries Plc (LUSE:ZABR)

Zambian Breweries Cash Flow Statement

Financials in millions ZMW. 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	294.77	-672.68	-535.6	99.25	128.91
Depreciation & Amortization	-	529.46	443.28	371	277.09
Other Amortization	-	1.21	2.32	3.04	2.92
Loss (Gain) From Sale of Assets	-	8.36	2.17	4.39	4.89
Asset Writedown & Restructuring Costs	-	-	19.48	-	11.13
Other Operating Activities	-232.22	-241.96	-281.84	-54.98	-81.09
Change in Accounts Receivable	-	-178.63	-51.09	-57.59	-87.84
Change in Inventory	-	-213.9	187.24	-209.51	-182.78
Change in Accounts Payable	-	1,743	1,309	573.1	-413.71
Change in Other Net Operating Assets	-	-17.44	42.98	-72.65	-
Operating Cash Flow	62.55	957.03	1,138	656.04	-340.49
Operating Cash Flow Growth	-93.46%	-15.89%	73.44%	-	-
Capital Expenditures	-908.48	-783.46	-1,945	-1,009	-641.44
Sale of Property, Plant & Equipment	-	-	10.8	85.14	9.52
Sale (Purchase) of Intangibles	-	-	-	-	-2.76
Investing Cash Flow	-908.48	-783.46	-1,934	-924.31	-634.69
Short-Term Debt Issued	2,400	1,952	1,893	270	635
Total Debt Issued	2,400	1,952	1,893	270	635
Short-Term Debt Repaid	-1,952	-1,893	-905	-	-35
Total Debt Repaid	-1,952	-1,893	-905	-	-35
Net Debt Issued (Repaid)	448	59.5	987.5	270	600
Financing Cash Flow	448	59.5	987.5	270	600
Foreign Exchange Rate Adjustments	-	-	2.08	-103.47	1.57
Net Cash Flow	-397.92	233.07	193.25	-101.74	-373.6
Free Cash Flow	-845.92	173.57	-807.12	-353.41	-981.93
Free Cash Flow Margin	-13.84%	3.25%	-19.44%	-9.62%	-32.00%
Free Cash Flow Per Share	-1.55	0.32	-1.48	-0.65	-1.80
Cash Interest Paid	426.33	415.14	354.09	151.84	86.94
Cash Income Tax Paid	256.09	123.65	22	97.9	71.54
Levered Free Cash Flow	-1,502	948.75	-148.41	-206.8	-802.35
Unlevered Free Cash Flow	-1,236	1,208	72.9	-111.9	-748.01
Change in Working Capital	-	1,333	1,488	233.34	-684.33

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