UPDC Plc 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	948.1	432.19	253.51	159.66	-1,928
Depreciation & Amortization	295.18	308.88	115.67	38.15	15.3
Other Amortization	6.29	6.63	4.79	5.59	3.62
Loss (Gain) From Sale of Assets	-	-	-	-657.02	-6
Loss (Gain) on Equity Investments	-	-	5.51	3.28	1.47
Other Operating Activities	-266.98	505.06	111.34	359.1	829.72
Change in Accounts Receivable	-4,925	528.02	-145.5	716.64	1,489
Change in Inventory	5,606	-5,530	2,066	818.75	-1,145
Change in Accounts Payable	-3,115	11,973	-432.15	1,558	-1,418
Change in Unearned Revenue	-	-	-	-98.61	-10.82
Operating Cash Flow	-1,452	8,224	1,979	2,903	-2,285
Operating Cash Flow Growth	-	315.62%	-31.85%	-	-
Capital Expenditures	-514.22	-227.11	-60	-149.45	-34.73
Sale of Property, Plant & Equipment	-	-	-	12.08	17.53
Sale (Purchase) of Intangibles	-27.04	-10.74	-11.55	-33.04	-13.41
Sale (Purchase) of Real Estate	-	-	-	-	1,402
Other Investing Activities	2,463	619.24	286.42	143.64	96.08
Investing Cash Flow	1,922	381.39	214.87	-26.78	1,468
Long-Term Debt Issued	-	-	-	-	5,903
Long-Term Debt Repaid	-1,008	-1,679	-	-1,143	-5,423
Net Debt Issued (Repaid)	-1,008	-1,679	-	-1,143	480.57
Other Financing Activities	-684.8	-351.97	-453.48	-450.45	-675.52
Financing Cash Flow	-1,692	-2,031	-453.48	-1,594	-194.95
Foreign Exchange Rate Adjustments	-7.96	12.48	16.38	0.49	-56.84
Miscellaneous Cash Flow Adjustments	-	-0	-	-	-
Net Cash Flow	-1,230	6,587	1,757	1,283	-1,069
Free Cash Flow	-1,966	7,997	1,919	2,754	-2,320
Free Cash Flow Growth	-	316.78%	-30.33%	-	-
Free Cash Flow Margin	-15.49%	67.85%	35.91%	46.70%	-281.04%
Free Cash Flow Per Share	-0.11	0.43	0.10	0.15	-0.13
Cash Interest Paid	499.2	351.97	423.19	450.45	675.52
Cash Income Tax Paid	424.87	137.79	110.07	129.01	116.87
Levered Free Cash Flow	-1,610	7,796	1,612	10,084	-2,890
Unlevered Free Cash Flow	-1,321	8,044	1,876	10,374	-2,412
Change in Working Capital	-2,434	6,971	1,488	2,995	-1,085

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