BUA Foods 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	518,388	265,998	112,097	91,344	69,768
Depreciation & Amortization	9,776	9,608	9,401	8,181	8,407
Loss (Gain) From Sale of Investments	-	-	-	-	-143.28
Stock-Based Compensation	-	-	-	1,899	-
Provision & Write-off of Bad Debts	318.31	-86.81	178.84	-400.58	-
Other Operating Activities	-503,300	-978,378	53,473	21,092	8,678
Change in Accounts Receivable	-83,856	132,892	-32,009	-66,765	-35,832
Change in Inventory	37,017	-6,124	-82,516	-4,834	-4,532
Change in Accounts Payable	46,573	81,500	12,292	-1,601	13,991
Change in Unearned Revenue	586,243	1,238,607	68,951	6,208	15,645
Change in Other Net Operating Assets	-205,053	-199,620	-293,396	69,344	-75,110
Operating Cash Flow	406,105	544,395	-151,528	124,467	871.69
Operating Cash Flow Growth	-25.40%	-	-	14178.84%	-98.90%
Capital Expenditures	-24,178	-31,555	-37,086	-15,480	-107,284
Sale of Property, Plant & Equipment	-	1.31	-	-	-
Other Investing Activities	7,963	15,421	2,497	39.72	2,892
Investing Cash Flow	-16,215	-16,132	-34,589	-15,441	-104,392
Long-Term Debt Issued	68,771	93,279	577,322	276,337	269,734
Long-Term Debt Repaid	-199,253	-564,796	-219,886	-314,972	-153,178
Net Debt Issued (Repaid)	-130,482	-471,517	357,437	-38,635	116,556
Common Dividends Paid	-234,000	-99,000	-81,000	-63,000	-
Other Financing Activities	-25,455	-25,763	-18,463	-7,206	-1,765
Financing Cash Flow	-389,937	-596,280	257,974	-108,841	114,791
Foreign Exchange Rate Adjustments	-600	-225.38	21.48	-	-
Miscellaneous Cash Flow Adjustments	-	-	-0	-	-
Net Cash Flow	-646.99	-68,243	71,879	185.18	11,271
Free Cash Flow	381,927	512,840	-188,614	108,987	-106,412
Free Cash Flow Growth	-25.53%	-	-	-	-
Free Cash Flow Margin	21.52%	33.56%	-25.86%	26.05%	-31.93%
Free Cash Flow Per Share	21.22	28.49	-10.48	6.05	-6.46
Cash Interest Paid	25,455	25,763	18,463	7,206	1,765
Cash Income Tax Paid	2,902	10.64	1,388	1,789	69.95
Levered Free Cash Flow	154,386	290,637	-232,989	57,508	-131,822
Unlevered Free Cash Flow	180,942	309,329	-221,230	62,959	-128,667
Change in Working Capital	380,923	1,247,254	-326,679	2,352	-85,837

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