McNichols Cash Flow Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	424.48	346.38	115.76	36.07	19.76	14.3
Depreciation & Amortization	120.88	78.04	57.9	30.53	36.67	49.76
Other Operating Activities	-32.61	-	-	-0	-	0
Change in Accounts Receivable	-111.26	-111.26	-23.48	-55.15	-15.48	-11.78
Change in Inventory	-96.2	-96.2	-131.87	-182.76	37.36	18.72
Change in Accounts Payable	255.67	255.67	139.57	238.43	-9.94	17.86
Change in Other Net Operating Assets	0.05	0.05	0.54	3.34	3.89	5.86
Operating Cash Flow	561	472.68	158.43	70.46	72.27	94.72
Operating Cash Flow Growth	43.97%	198.35%	124.84%	-2.50%	-23.70%	-
Capital Expenditures	-536.12	-367.4	-140.66	-78.53	-5.49	-23.15
Sale of Property, Plant & Equipment	-	-	12.3	8.75	11.75	-
Investment in Securities	-	1	5.4	-0.58	-	-
Other Investing Activities	-	3.35	20.43	-	7.62	-
Investing Cash Flow	-536.12	-363.05	-102.53	-70.36	13.87	-23.15
Long-Term Debt Repaid	-	-	-24.06	-41.25	-41.25	-41.25
Net Debt Issued (Repaid)	10.31	-	-24.06	-41.25	-41.25	-41.25
Issuance of Common Stock	-	-	-	199.03	-	-
Common Dividends Paid	-44.67	-44.67	-44.67	-7.19	-9.8	-8.82
Other Financing Activities	18.75	18.44	38.76	-10.15	-5.19	-1.54
Financing Cash Flow	-15.61	-26.23	-29.97	140.44	-56.24	-51.61
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	0
Net Cash Flow	9.27	83.4	25.93	140.54	29.9	19.96
Free Cash Flow	24.88	105.28	17.77	-8.07	66.78	71.57
Free Cash Flow Growth	-82.28%	492.35%	-	-	-6.69%	-
Free Cash Flow Margin	0.41%	1.70%	0.31%	-0.51%	8.01%	9.25%
Free Cash Flow Per Share	0.02	0.09	0.02	-0.01	0.09	0.10
Levered Free Cash Flow	-146.87	-4.09	-17.15	22.78	65.38	67.01
Unlevered Free Cash Flow	-145.45	-2.47	-12.94	29.12	72.62	75.44
Change in Working Capital	48.25	48.25	-15.23	3.86	15.83	30.66