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	32,199	15,143	8,440	4,467	3,409
Depreciation & Amortization	3,040	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	-64.47	-74.11	-26.1	-107.27	350.6
Asset Writedown & Restructuring Costs	38.18	118.09	1,379	-	-
Provision & Write-off of Bad Debts	-1,094	1,655	-3,427	441.3	829.58
Other Operating Activities	-1,170	-526.93	9,691	3,138	-1,970
Change in Accounts Receivable	-1,619	2,178	938.08	-6,695	2,509
Change in Inventory	7,699	-17,778	3,310	-1,376	-1,297
Change in Accounts Payable	7,630	7,914	-15,072	10,647	12,369
Change in Unearned Revenue	-9.53	-10.65	-214.64	-	-
Change in Other Net Operating Assets	-751.53	3,656	-3,790	-	-
Operating Cash Flow	45,898	14,928	-3,934	12,025	20,090
Operating Cash Flow Growth	207.46%	-	-	-40.14%	736.73%
Capital Expenditures	-5,098	-6,044	-2,246	-1,560	-1,622
Sale of Property, Plant & Equipment	99.27	98.51	26.65	394.49	103.94
Investment in Securities	140.64	-380.26	-	-	-
Other Investing Activities	10,199	3,328	3,800	1,422	590.61
Investing Cash Flow	5,341	-2,998	1,581	256.57	-927.92
Long-Term Debt Issued	-	-	1,540	-	-
Long-Term Debt Repaid	-161.43	-127.57	-	-	-281.25
Net Debt Issued (Repaid)	-161.43	-127.57	1,540	-	-281.25
Common Dividends Paid	-9,065	-4,309	-6,136	-623.77	-55.66
Other Financing Activities	-246.93	-2,743	-3,561	-784.66	-26.16
Financing Cash Flow	-9,473	-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	42,312	11,740	-9,619	10,620	18,597
Free Cash Flow	40,800	8,883	-6,180	10,465	18,467
Free Cash Flow Growth	359.27%	-	-	-43.33%	1263.45%
Free Cash Flow Margin	19.04%	5.94%	-5.95%	15.25%	26.19%
Free Cash Flow Per Share	7.10	1.55	-1.08	1.82	3.21
Cash Interest Paid	246.93	2,315	2,893	784.66	26.16
Cash Income Tax Paid	10,325	1,509	3,287	519.21	123.58
Levered Free Cash Flow	50,423	13,873	-522.79	6,982	5,270
Unlevered Free Cash Flow	50,577	15,320	1,285	7,416	5,309
Change in Working Capital	12,949	-4,041	-14,828	2,577	13,581

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