Berger Paints Nigeria Cash Flow Statement

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

Millions NGN. 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	1,483	610.86	445.33	208.67	135.64
Depreciation & Amortization	326.59	250.77	226.05	239.54	243.49
Other Amortization	15.6	10.88	10.88	8.33	16.43
Loss (Gain) From Sale of Assets	1.84	-6.37	-18.51	-	-21.24
Provision & Write-off of Bad Debts	-	3.78	44.57	-11.58	-8.15
Other Operating Activities	224.62	298.11	291.19	164.03	57.05
Change in Accounts Receivable	-283.13	-67.32	-98.34	45.62	-8.68
Change in Inventory	555.15	-1,154	-781.47	-200.17	-464.32
Change in Accounts Payable	368.37	432.63	-189.87	307.69	214.42
Change in Unearned Revenue	51.07	-109.15	132.17	-28.01	45.02
Change in Other Net Operating Assets	-208.8	-19.39	335.2	-162.6	56.27
Operating Cash Flow	2,534	250.84	397.17	571.52	265.92
Operating Cash Flow Growth	910.22%	-36.84%	-30.51%	114.92%	-41.51%
Capital Expenditures	-510.8	-310.4	-288.81	-44.77	-95.09
Sale of Property, Plant & Equipment	12.19	6.37	20.35	-	25.08
Sale (Purchase) of Intangibles	-71.67	-33.86	-0.65	-	-
Investment in Securities	165.84	-189.86	143.2	-27.39	-34.69
Other Investing Activities	80.08	41.61	-	0.73	0.54
Investing Cash Flow	-324.36	-486.14	-125.91	-71.43	-104.16
Long-Term Debt Issued	407.11	-	345.6	-	-
Long-Term Debt Repaid	-245.86	-7.26	-25.13	-126.65	-153.75
Net Debt Issued (Repaid)	161.25	-7.26	320.47	-126.65	-153.75
Common Dividends Paid	-405.75	-290.46	-269.36	-88.54	-126.62
Other Financing Activities	-346.22	-32.08	-15.92	-6.69	-20.37
Financing Cash Flow	-590.72	-329.8	35.19	-221.88	-300.73
Miscellaneous Cash Flow Adjustments	201.5	-	-	-	-
Net Cash Flow	1,820	-565.1	306.45	278.21	-138.97
Free Cash Flow	2,023	-59.56	108.36	526.75	170.83
Free Cash Flow Growth	-	-	-79.43%	208.35%	-50.20%
Free Cash Flow Margin	15.57%	-0.55%	1.36%	8.32%	3.44%
Free Cash Flow Per Share	6.99	-0.21	0.37	1.82	0.59
Cash Interest Paid	61.51	32.08	15.92	6.69	20.37
Cash Income Tax Paid	424.81	80.39	14.76	13.32	6.86
Levered Free Cash Flow	1,808	63.39	-89.54	499.33	-8.08
Unlevered Free Cash Flow	1,847	83.44	-71.77	509.05	14.19
Change in Working Capital	482.67	-917.19	-602.33	-37.47	-157.3

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.