NASE:BAT Cash Flow Statement

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

Millions KES. 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	5,246	4,483	5,568	6,892	6,483
Depreciation & Amortization	-	703.74	698.63	629.68	590.52
Loss (Gain) From Sale of Assets	-	-1.45	-	-	0.76
Asset Writedown & Restructuring Costs	-	211.07	186.1	22.14	-22.08
Other Operating Activities	1,396	-453.95	-300.12	-489.58	555.01
Change in Accounts Receivable	-	401.15	1,082	-667	348.85
Change in Inventory	-	2,317	-2,010	227.9	-155.67
Change in Accounts Payable	-	115.82	296.47	-362.54	-465.61
Change in Other Net Operating Assets	-	100.96	35.92	-633.81	-1,100
Operating Cash Flow	6,642	7,878	5,558	5,619	6,235
Operating Cash Flow Growth	-15.69%	41.74%	-1.08%	-9.89%	31.38%
Capital Expenditures	-	-322.02	-439.36	-751.5	-570.11
Sale of Property, Plant & Equipment	-	1,105	-	-	-
Other Investing Activities	-289	-	-	-	-
Investing Cash Flow	-289	782.89	-439.36	-751.5	-570.11
Long-Term Debt Repaid	-	-40.58	-27.4	-28.03	-20.99
Net Debt Issued (Repaid)	-	-40.58	-27.4	-28.03	-20.99
Common Dividends Paid	-	-5,000	-5,700	-5,500	-4,500
Other Financing Activities	-5,525	-	-	-	-
Financing Cash Flow	-5,525	-5,041	-5,727	-5,528	-4,521
Foreign Exchange Rate Adjustments	-	-50.53	61.4	-	-
Net Cash Flow	828	3,570	-547.46	-660.75	1,144
Free Cash Flow	6,642	7,556	5,119	4,867	5,665
Free Cash Flow Growth	-12.10%	47.62%	5.16%	-14.09%	63.99%
Free Cash Flow Margin	28.64%	29.38%	20.03%	17.78%	22.28%
Free Cash Flow Per Share	66.42	75.56	51.19	48.67	56.65
Cash Interest Paid	-	57.03	250.78	79.45	105.36
Cash Income Tax Paid	2,136	2,523	2,688	3,527	2,234
Levered Free Cash Flow	-827.53	7,800	4,612	3,792	4,950
Unlevered Free Cash Flow	-827.53	7,877	4,732	3,844	5,019
Change in Working Capital	-	2,935	-594.73	-1,435	-1,372

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