Sunu Assurances Nigeria 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	1,443	3,663	2,679	432.9	198.73
Depreciation & Amortization	422.13	328.68	258.17	220.24	212.76
Gain (Loss) on Sale of Assets	-4.54	-20.96	-3.26	-4.2	-4.03
Gain (Loss) on Sale of Investments	-41.25	-22.05	-42.68	9.13	-5.61
Change in Accounts Receivable	-513.79	-129.66	-59.16	-321.71	-207.1
Reinsurance Recoverable	-	-	-211.08	203.35	-618.79
Change in Accounts Payable	6.91	-15.06	2.85	-100.96	-1.1
Change in Income Taxes	-69.82	425.98	2.76	3.52	54.15
Change in Deferred Taxes	-1.07	-119.39	-17.52	-0.08	28.75
Change in Insurance Reserves / Liabilities	-161.86	922.34	1,261	537.08	875.5
Change in Other Net Operating Assets	-737.67	885.12	355.25	484.42	26.88
Other Operating Activities	-1,355	-1,245	-560.38	-318.31	-217.37
Operating Cash Flow	-1,100	4,631	3,702	1,075	261.24
Operating Cash Flow Growth	-	25.07%	244.50%	311.40%	-
Capital Expenditures	-242.01	-488.79	-194.71	-188.14	-2,228
Sale of Property, Plant & Equipment	11.79	30.43	3.26	61.42	10.99
Purchase / Sale of Intangible Assets	-148.98	-91.4	-34.49	-23.92	-32.41
Investment in Securities	969.6	-1,281	-	209.11	2,585
Other Investing Activities	1,442	1,262	560.37	362.77	252.19
Investing Cash Flow	1,951	-586.04	330.72	413.86	-417.63
Total Debt Repaid	-	-27.03	-	-6.36	-
Net Debt Issued (Repaid)	-	-27.03	-	-6.36	-
Common Dividends Paid	-581.08	-365.26	-245.73	-57.12	-28.56
Other Financing Activities	-	-36.3	-34.69	-27.76	-75.54
Financing Cash Flow	-581.08	-428.59	-280.42	-91.24	-104.1
Miscellaneous Cash Flow Adjustments	0	-	-	-	-
Net Cash Flow	270.34	3,616	3,753	1,397	-260.48
Free Cash Flow	-1,342	4,142	3,508	886.62	-1,967
Free Cash Flow Growth	-	18.08%	295.63%	-	-
Free Cash Flow Margin	-5.67%	24.12%	32.72%	14.07%	-39.76%
Free Cash Flow Per Share	-0.23	0.71	0.60	0.15	-0.34
Cash Income Tax Paid	546.72	122.89	82.66	136.66	169.51
Levered Free Cash Flow	-646.47	3,360	-623.46	818.11	1,409
Unlevered Free Cash Flow	-643.48	3,365	-622.31	818.58	1,409
Change in Working Capital	-1,477	1,969	1,344	745.3	90.71

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