NGX:SFSREIT 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	628.49	628.49	477.09	317.5	186.62	160.52
Gain (Loss) on Sale of Assets	-	-	-	-57.66	-	-
Asset Writedown	-3,483	-3,483	-	-	-	-
Change in Accounts Receivable	-265.54	-265.54	-0.37	-	-	-
Change in Accounts Payable	-98.42	-98.42	-10.74	-	-	-
Change in Other Net Operating Assets	380.36	-0.07	0.05	183.98	8.78	-3.83
Other Operating Activities	3,503	3,483	-	-	-	-
Operating Cash Flow	695.52	295.59	462.52	443.82	195.4	156.69
Operating Cash Flow Growth	52.09%	-36.09%	4.21%	127.13%	24.71%	-18.24%
Acquisition of Real Estate Assets	-139.58	-140.66	-89.84	-426.55	-	-90
Sale of Real Estate Assets	90	90	80	335.65	-	45
Net Sale / Acq. of Real Estate Assets	-49.58	-50.66	-9.84	-90.9	-	-45
Investment in Marketable & Equity Securities	-70.76	94.07	108.88	0.86	110.93	237.16
Other Investing Activities	-	-	-	11.24	40.05	36.92
Investing Cash Flow	-120.34	43.41	99.04	-78.81	150.98	229.08
Common Dividends Paid	-435	-435	-290	-169	-145	-162
Miscellaneous Cash Flow Adjustments	-	-	-0	-	-	-
Net Cash Flow	140.19	-96	271.56	196.02	201.38	223.76
Levered Free Cash Flow	142.59	-21.54	361.85	161.77	73.32	197.77
Unlevered Free Cash Flow	142.59	-21.54	361.85	161.77	73.32	197.77
Change in Working Capital	47.53	-332.89	-14.57	183.98	8.78	-3.83

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