Airtel Malawi Cash Flow Statement

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

Millions MWK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	43,801	42,722	-15,424	36,925	32,335	22,093
Depreciation & Amortization	28,135	24,683	17,680	14,280	15,192	14,675
Other Amortization	194.56	194.56	132.18	132.18	-	-
Loss (Gain) From Sale of Assets	-104.58	-95.34	-22.41	12.18	-1,429	-14.36
Other Operating Activities	16,239	12,904	52,659	5,112	5,722	11,017
Change in Accounts Receivable	-6,252	-1,776	1,896	15,294	-3,403	699.37
Change in Inventory	-632.45	31.01	-1,078	14.64	-31.1	-211.43
Change in Accounts Payable	12,475	24,240	7,244	16,139	-6,749	-7,489
Change in Other Net Operating Assets	4,195	-7,140	-24,369	-5,970	490.96	688.84
Operating Cash Flow	98,051	95,764	38,717	81,940	42,129	41,458
Operating Cash Flow Growth	52.33%	147.34%	-52.75%	94.50%	1.62%	-21.39%
Capital Expenditures	-25,301	-43,600	-17,241	-15,831	-8,504	-19,307
Sale of Property, Plant & Equipment	104.58	95.34	22.41	532.78	7,860	22.3
Other Investing Activities	6,585	4,600	3,361	3,002	1,864	891.63
Investing Cash Flow	-18,611	-38,904	-13,858	-12,297	1,219	-18,393
Long-Term Debt Repaid	-	-1,964	-1,767	-10,161	-9,596	-2,307
Net Debt Issued (Repaid)	-11,238	-1,964	-1,767	-10,161	-9,596	-2,307
Common Dividends Paid	-7,265	-17,318	-26,016	-32,059	-12,492	-8,892
Other Financing Activities	-27,211	-23,949	-13,884	-6,874	-155.43	-122.21
Financing Cash Flow	-45,715	-43,231	-41,668	-49,094	-22,243	-11,321
Net Cash Flow	33,725	13,628	-16,809	20,550	21,105	11,743
Free Cash Flow	72,750	52,164	21,475	66,109	33,624	22,151
Free Cash Flow Growth	202.50%	142.90%	-67.52%	96.61%	51.80%	-6.10%
Free Cash Flow Margin	22.95%	19.25%	11.07%	43.08%	25.52%	20.09%
Free Cash Flow Per Share	6.61	4.74	1.95	6.01	3.06	2.01
Cash Interest Paid	27,103	23,818	13,677	3,029	-	-
Cash Income Tax Paid	29,506	25,268	17,193	18,826	11,893	3,058
Levered Free Cash Flow	86,417	14,916	46,582	63,652	45,913	17,265
Unlevered Free Cash Flow	101,322	29,550	55,036	67,844	47,516	18,554
Change in Working Capital	9,786	15,355	-16,308	25,478	-9,692	-6,313

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