Hostess Brands 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	2016 - 2020
Period Ending	Jun '25 Jun 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	2016 - 2020
Net Income	1,099	1,045	656.13	430.85	393.08	377.16	Upgrade
Depreciation & Amortization	24.2	23.38	21.79	19.75	14.29	20.2	Upgrade
Change in Accounts Receivable	-10.16	1.82	4.12	-6.12	-33.75	35.65	Upgrade
Change in Other Net Operating Assets	-181.82	199.57	228.03	60	319.43	-83.65	Upgrade
Other Operating Activities	1.72	1.72	-	-	-	-	Upgrade
Operating Cash Flow	1,032	1,272	892.94	518.37	691	345.19	Upgrade
Operating Cash Flow Growth	24.57%	42.48%	72.26%	-24.98%	100.18%	-37.67%	Upgrade
Acquisition of Real Estate Assets	-37.5	-28.73	-234.62	-29.75	-29.74	-13.35	Upgrade
Sale of Real Estate Assets	-13.85	70.36	-	112	-	-	Upgrade
Net Sale / Acq. of Real Estate Assets	-51.35	41.62	-234.62	82.25	-29.74	-13.35	Upgrade
Investment in Marketable & Equity Securities	12.23	9.61	563.72	-443.71	278.27	-505.46	Upgrade
Other Investing Activities	0	-	-	-	-	-	Upgrade
Investing Cash Flow	-39.11	51.23	329.1	-361.46	248.54	-518.81	Upgrade
Common Dividends Paid	-1,543	-592.6	-395.07	-359.32	-349.92	-329.22	Upgrade
Miscellaneous Cash Flow Adjustments	-5.37	-5.37	-	-	-	-	Upgrade
Net Cash Flow	-562.58	725.56	826.97	-202.42	589.63	-502.84	Upgrade
Cash Income Tax Paid	12.14	12.14	20.68	8.9	4.77	2	Upgrade
Levered Free Cash Flow	544.79	855.31	675.68	346.41	541.29	235.94	Upgrade
Unlevered Free Cash Flow	544.79	855.31	675.68	346.41	541.29	235.94	Upgrade
Change in Net Working Capital	139.61	-192.39	-238.35	-43.87	-270.24	29.38	Upgrade

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