Nestlé Nigeria Cash Flow Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	92,158	-164,595	-79,474	48,965	40,037	39,212
Depreciation & Amortization	38,213	28,941	11,673	9,753	8,409	7,751
Loss (Gain) From Sale of Assets	767.86	28.53	-41.86	47.54	245.04	73.21
Asset Writedown & Restructuring Costs	809.81	2,126	-	10.65	-	-
Stock-Based Compensation	225.71	302.9	79.35	-23.33	-0.35	-9.27
Provision & Write-off of Bad Debts	-142.77	-127.29	-819.42	-252	79.79	-
Other Operating Activities	72,488	233,151	163,279	26,253	12,395	4,860
Change in Accounts Receivable	76,845	5,663	-19,270	-38,607	-3,747	27,249
Change in Inventory	-43,914	-88,606	-620.26	-32,612	-9,783	-21,658
Change in Accounts Payable	28,154	39,960	6,600	-16,243	12,746	1,394
Change in Unearned Revenue	2,975	8,812	3,515	1,096	6,805	2,673
Change in Other Net Operating Assets	-19,604	-59,798	-2,218	-2,820	-1,259	2,252
Operating Cash Flow	248,975	5,859	82,703	-4,433	65,927	63,798
Operating Cash Flow Growth	616.71%	-92.92%	-	-	3.34%	27.83%
Capital Expenditures	-102,144	-71,875	-59,673	-26,920	-22,632	-15,397
Sale of Property, Plant & Equipment	6.25	62.69	444.7	78.4	984.22	136.93
Other Investing Activities	1,506	2,652	4,116	3,973	1,678	-458.44
Investing Cash Flow	-100,631	-69,160	-55,112	-22,868	-19,969	-15,719
Long-Term Debt Issued	-	86,155	148,327	102,003	58,300	37,079
Long-Term Debt Repaid	-	-144,192	-74,582	-42,953	-30,139	-10,475
Net Debt Issued (Repaid)	-74,704	-58,038	73,744	59,050	28,161	26,604
Common Dividends Paid	-	-584.57	-13,770	-14,027	-30,729	-18,745
Other Financing Activities	-83,551	-25,622	-38,681	-782.03	-1,881	-1,479
Financing Cash Flow	-158,255	-84,244	21,293	44,242	-4,449	6,379
Foreign Exchange Rate Adjustments	94.62	2,217	949.69	452.48	379.16	-
Miscellaneous Cash Flow Adjustments	0	-	-	-	-	0
Net Cash Flow	-9,817	-145,329	49,834	17,393	41,888	54,459
Free Cash Flow	146,831	-66,016	23,030	-31,353	43,295	48,401
Free Cash Flow Growth	-	-	-	-	-10.55%	33.91%
Free Cash Flow Margin	12.46%	-6.88%	4.21%	-7.02%	12.31%	16.86%
Free Cash Flow Per Share	185.24	-83.28	29.05	-39.55	54.62	61.06
Cash Interest Paid	135,030	25,622	38,681	782.03	1,881	1,479
Cash Income Tax Paid	41,804	34,010	27,888	21,950	23,429	23,224
Levered Free Cash Flow	116,192	-102,464	27,883	-24,370	51,193	80,029
Unlevered Free Cash Flow	174,866	-38,828	51,565	-16,741	55,607	81,715
Change in Working Capital	44,456	-93,968	-11,994	-89,187	4,761	11,910

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