McNichols 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	342.46	115.76	36.07	19.76	14.3
Depreciation & Amortization	78.04	57.9	30.53	36.67	49.76
Other Operating Activities	42.5	-	-0	-	0
Change in Accounts Receivable	-	-23.48	-55.15	-15.48	-11.78
Change in Inventory	-	-131.87	-182.76	37.36	18.72
Change in Accounts Payable	-	139.57	238.43	-9.94	17.86
Change in Other Net Operating Assets	-	0.54	3.34	3.89	5.86
Operating Cash Flow	463.01	158.43	70.46	72.27	94.72
Operating Cash Flow Growth	192.25%	124.84%	-2.50%	-23.70%	-
Capital Expenditures	-290.5	-140.66	-78.53	-5.49	-23.15
Sale of Property, Plant & Equipment	-	12.3	8.75	11.75	-
Investment in Securities	-	5.4	-0.58	-	-
Other Investing Activities	-	20.43	-	7.62	-
Investing Cash Flow	-290.5	-102.53	-70.36	13.87	-23.15
Long-Term Debt Repaid	-24.06	-24.06	-41.25	-41.25	-41.25
Net Debt Issued (Repaid)	-24.06	-24.06	-41.25	-41.25	-41.25
Issuance of Common Stock	-	-	199.03	-	-
Common Dividends Paid	-44.67	-44.67	-7.19	-9.8	-8.82
Other Financing Activities	-20.38	38.76	-10.15	-5.19	-1.54
Financing Cash Flow	-89.11	-29.97	140.44	-56.24	-51.61
Miscellaneous Cash Flow Adjustments	-0	-	-	-	0
Net Cash Flow	83.4	25.93	140.54	29.9	19.96
Free Cash Flow	172.51	17.77	-8.07	66.78	71.57
Free Cash Flow Growth	870.64%	-	-	-6.69%	-
Free Cash Flow Margin	2.75%	0.31%	-0.51%	8.01%	9.25%
Free Cash Flow Per Share	0.15	0.02	-0.01	0.09	0.10
Cash Income Tax Paid	35.44	-	-	-	-
Levered Free Cash Flow	113.17	-17.15	22.78	65.38	67.01
Unlevered Free Cash Flow	113.46	-12.94	29.12	72.62	75.44
Change in Working Capital	-	-15.23	3.86	15.83	30.66

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