Unilever 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	30,740	15,143	8,440	4,467	3,409
Depreciation & Amortization	2,826	2,653	2,810	2,420	3,535
Other Amortization	0.39	0.39	0.39	0.39	0.39
Loss (Gain) From Sale of Assets	-	-74.11	-26.1	-107.27	350.6
Asset Writedown & Restructuring Costs	-	118.09	1,379	-	-
Provision & Write-off of Bad Debts	-1,094	1,655	-3,427	441.3	829.58
Other Operating Activities	496.19	-526.93	9,691	3,138	-1,970
Change in Accounts Receivable	-745.11	2,178	938.08	-6,695	2,509
Change in Inventory	7,926	-17,778	3,310	-1,376	-1,297
Change in Accounts Payable	6,260	7,914	-15,072	10,647	12,369
Change in Unearned Revenue	-217.03	-10.65	-214.64	-	-
Change in Other Net Operating Assets	892.17	3,276	-3,790	-	-
Operating Cash Flow	47,085	14,548	-3,934	12,025	20,090
Operating Cash Flow Growth	223.66%	-	-	-40.14%	736.73%
Capital Expenditures	-5,043	-6,044	-2,246	-1,560	-1,622
Sale of Property, Plant & Equipment	34.8	98.51	26.65	394.49	103.94
Other Investing Activities	10,279	3,328	3,800	1,422	590.61
Investing Cash Flow	5,270	-2,618	1,581	256.57	-927.92
Long-Term Debt Issued	55.84	-	1,540	-	-
Long-Term Debt Repaid	-508.81	-127.57	-	-	-281.25
Net Debt Issued (Repaid)	-452.96	-127.57	1,540	-	-281.25
Common Dividends Paid	-10,054	-4,309	-6,136	-623.77	-55.66
Other Financing Activities	-463.85	-2,743	-3,561	-784.66	-26.16
Financing Cash Flow	-10,971	-7,179	-8,157	-1,408	-363.08
Foreign Exchange Rate Adjustments	546.7	6,990	891.08	-252.69	-202.25
Miscellaneous Cash Flow Adjustments	-	-	-	-0	-
Net Cash Flow	41,931	11,740	-9,619	10,620	18,597
Free Cash Flow	42,041	8,503	-6,180	10,465	18,467
Free Cash Flow Growth	394.42%	-	-	-43.33%	1263.45%
Free Cash Flow Margin	19.58%	5.69%	-5.95%	15.25%	26.19%
Free Cash Flow Per Share	7.32	1.48	-1.08	1.82	3.21
Cash Interest Paid	463.85	2,315	2,893	784.66	26.16
Cash Income Tax Paid	10,632	1,509	3,287	519.21	123.58
Levered Free Cash Flow	49,599	13,873	-522.79	6,982	5,270
Unlevered Free Cash Flow	49,746	15,320	1,285	7,416	5,309
Change in Working Capital	14,116	-4,422	-14,828	2,577	13,581

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