Cadbury 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	12,089	-22,225	-22,446	583.11	449.71
Depreciation & Amortization	3,242	1,903	1,642	1,480	1,340
Other Amortization	35.35	36.45	41.61	6.26	39.24
Loss (Gain) From Sale of Assets	138.72	144.6	2.53	-36.48	-0.42
Asset Writedown & Restructuring Costs	-	757.21	1,399	-175.29	-
Stock-Based Compensation	-	48.72	24.68	23.68	35.86
Provision & Write-off of Bad Debts	-	-	-3.51	-4.21	-
Other Operating Activities	-454.72	32,265	17,386	-1,871	-6,118
Change in Accounts Receivable	-4,815	-1,285	-2,172	-1,207	-208.9
Change in Inventory	-3,587	-1,869	-25.79	-3,812	-2,857
Change in Accounts Payable	13,500	10,701	6,459	3,434	8,483
Change in Other Net Operating Assets	327.9	-367.65	488.53	-414.44	-489.04
Operating Cash Flow	20,477	20,110	2,797	-1,994	674.01
Operating Cash Flow Growth	1.82%	618.91%	-	-	-84.16%
Capital Expenditures	-10,026	-5,065	-3,700	-2,407	-1,589
Sale of Property, Plant & Equipment	319.47	132.6	4.43	103.77	6.64
Other Investing Activities	451.21	434.6	2,263	1,608	856.03
Investing Cash Flow	-9,256	-4,498	-1,433	-694.9	-726.32
Long-Term Debt Issued	-	42,765	37,020	14,219	11,510
Total Debt Issued	-	42,765	37,020	14,219	11,510
Long-Term Debt Repaid	-16,720	-56,375	-46,369	-1,911	-4,755
Total Debt Repaid	-16,720	-56,375	-46,369	-1,911	-4,755
Net Debt Issued (Repaid)	-16,720	-13,610	-9,349	12,308	6,755
Common Dividends Paid	-303.23	-15.16	-124.72	-157.22	-57.63
Other Financing Activities	-	-	-	-	-0
Financing Cash Flow	-17,023	-13,625	-9,473	12,151	6,697
Foreign Exchange Rate Adjustments	4,479	-6,102	1,116	160.97	63.23
Miscellaneous Cash Flow Adjustments	-	-0.01	-	-	-
Net Cash Flow	-1,323	-4,116	-6,993	9,624	6,708
Free Cash Flow	10,450	15,044	-903.03	-4,400	-914.97
Free Cash Flow Growth	-30.54%	-	-	-	-
Free Cash Flow Margin	6.15%	11.65%	-1.12%	-7.97%	-2.16%
Free Cash Flow Per Share	4.58	6.60	-0.48	-2.34	-0.49
Cash Income Tax Paid	1,265	70.67	343.5	7.83	99.45
Levered Free Cash Flow	2,073	1,913	3,296	-3,751	3,536
Unlevered Free Cash Flow	5,302	5,920	6,314	-3,436	3,692
Change in Working Capital	5,426	7,179	4,750	-2,000	4,928

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