United Capital 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	29,291	24,103	11,420	9,653	11,259	7,811
Depreciation & Amortization, Total	691.73	520.19	385.53	268.47	275.28	272.59
Gain (Loss) On Sale of Investments	-8,438	-3,146	8,113	5,661	125.08	322.03
Change in Accounts Receivable	35,192	-76,117	-34,489	-28,539	-2,595	-3,334
Change in Other Net Operating Assets	445,518	514,809	165,907	120,920	217,772	45,922
Other Operating Activities	9,021	1,476	-19,410	1,110	-11,488	1,293
Operating Cash Flow	512,032	462,220	139,945	109,626	215,499	52,685
Capital Expenditures	-1,444	-772.32	-1,178	-110.87	-110.45	-411.12
Sale (Purchase) of Intangibles	-205.19	-911.59	-68.55	-137.84	-57.58	-12.18
Investment in Securities	-436,756	-392,148	-240,294	-20,856	-201,976	-54,182
Other Investing Activities	5,231	1,165	954.98	1,016	1,707	116.87
Investing Cash Flow	-432,954	-392,447	-240,585	-20,088	-200,438	-54,409
Long-Term Debt Issued	-	198,467	109,680	36,026	17,564	32,214
Long-Term Debt Repaid	-	-68,534	-11,032	-18,990	-18,184	-14,959
Net Debt Issued (Repaid)	-17,317	129,933	98,649	17,036	-619.94	17,256
Common Dividends Paid	-14,400	-16,200	-9,000	-9,000	-4,200	-3,000
Financing Cash Flow	-31,717	113,733	89,649	8,036	-4,820	14,256
Foreign Exchange Rate Adjustments	11,200	-19,224	5,715	-1,513	-42.66	752.68
Net Cash Flow	58,561	164,282	-5,276	96,060	10,199	13,285
Free Cash Flow	510,588	461,448	138,767	109,515	215,388	52,274
Free Cash Flow Growth	513.95%	232.53%	26.71%	-49.16%	312.04%	-
Free Cash Flow Margin	885.52%	1230.81%	646.64%	449.45%	1305.24%	415.89%
Free Cash Flow Per Share	28.37	25.64	7.71	6.08	11.97	2.90
Cash Interest Paid	180,045	144,087	67,912	39,071	14,733	13,386
Cash Income Tax Paid	1,756	773.97	2,802	533.13	728.96	455.13

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.