SFSREIT Cash Flow Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	2018 - 2014
Period Ending	Sep '24 Sep 30, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	2018 - 2014
Net Income	317.5	317.5	186.62	160.52	175.14	162.12	Upgrade
Gain (Loss) on Sale of Assets	-57.66	-57.66	-	-	-19.88	-2.83	Upgrade
Change in Other Net Operating Assets	-235.03	183.98	8.78	-3.83	36.39	14.15	Upgrade
Other Operating Activities	5.38	-	-	-	-	0	Upgrade
Operating Cash Flow	30.2	443.82	195.4	156.69	191.64	173.44	Upgrade
Operating Cash Flow Growth	-95.67%	127.14%	24.71%	-18.24%	10.50%	0.20%	Upgrade
Acquisition of Real Estate Assets	-437.64	-426.55	-	-90	-115	-	Upgrade
Sale of Real Estate Assets	335.65	335.65	-	45	205.88	37.5	Upgrade
Net Sale / Acq. of Real Estate Assets	-101.99	-90.9	-	-45	90.88	37.5	Upgrade
Investment in Marketable & Equity Securities	343.92	0.86	110.93	237.16	-104.79	-26.2	Upgrade
Other Investing Activities	11.24	11.24	40.05	36.92	48.92	-39.66	Upgrade
Investing Cash Flow	253.17	-78.81	150.98	229.08	35.02	-28.36	Upgrade
Common Dividends Paid	-290	-169	-145	-162	-146	-140	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-	-	-0	-	Upgrade
Net Cash Flow	4.43	196.02	201.38	223.76	80.66	5.07	Upgrade
Levered Free Cash Flow	-195.03	161.77	73.32	197.77	150.25	49.48	Upgrade
Unlevered Free Cash Flow	-195.03	161.77	73.32	197.77	150.25	49.48	Upgrade
Change in Net Working Capital	370.81	5.1	47.76	-92.98	-50.4	52.91	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.