Morison Industries 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	54.46	-78.75	-98.72	-107.48	-93.93
Depreciation & Amortization	33.16	33.05	33.8	38.66	31.35
Loss (Gain) From Sale of Assets	-	-	-	-	-2.28
Provision & Write-off of Bad Debts	-	18.82	12.17	-	-
Other Operating Activities	21.08	19.05	20.73	20.67	16.02
Change in Accounts Receivable	-	-40.79	-0.83	6.62	-0.38
Change in Inventory	-	-35.09	0.97	11.84	-7.45
Change in Accounts Payable	-	87.19	37.41	43.23	14.65
Operating Cash Flow	108.69	3.49	5.54	13.54	-42.02
Operating Cash Flow Growth	3013.52%	-36.93%	-59.11%	-	-
Capital Expenditures	-	-0.58	-1.37	-1.37	-3.89
Sale of Property, Plant & Equipment	-	-	-	-	2.28
Other Investing Activities	19.41	2.34	-	-	-
Investing Cash Flow	19.41	1.76	-1.37	-1.37	-1.61
Short-Term Debt Issued	-	-	3.7	-	50
Total Debt Issued	-	-	3.7	-	50
Short-Term Debt Repaid	-	-	-3.7	-	-
Total Debt Repaid	-	-	-3.7	-	-
Net Debt Issued (Repaid)	-	-	-	-	50
Other Financing Activities	-	-	-2.01	-3	-4.14
Financing Cash Flow	-	-	-2.01	-3	45.86
Net Cash Flow	128.11	5.25	2.16	9.17	2.22
Free Cash Flow	108.69	2.92	4.17	12.17	-45.91
Free Cash Flow Growth	3627.47%	-30.05%	-65.73%	-	-
Free Cash Flow Margin	21.16%	1.01%	2.87%	7.86%	-32.65%
Free Cash Flow Per Share	0.11	0.00	0.00	0.01	-0.05
Cash Interest Paid	-	-	2.01	3	4.14
Levered Free Cash Flow	101.83	15.38	23.17	33.23	-25.09
Unlevered Free Cash Flow	113.46	27.63	35.51	45.48	-15.37
Change in Working Capital	-	11.31	37.55	61.69	6.82

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