NGX:UPDCREIT 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	4,335	4,698	3,803	1,677	-4,480
Depreciation & Amortization	199.02	110.14	69.37	53.78	72.36
Gain (Loss) on Sale of Assets	-1.4	-410	-	-	-
Gain (Loss) on Sale of Investments	-7.91	16.47	-0.67	46.95	323.84
Asset Writedown	-2,102	-2,541	-2,475	-552.22	5,092
Change in Other Net Operating Assets	-119.29	-120.17	6.4	-544.89	-419.51
Other Operating Activities	13.98	3.58	-0.54	-15.28	11.93
Operating Cash Flow	2,354	2,130	2,864	1,020	2,310
Operating Cash Flow Growth	10.50%	-25.63%	180.71%	-55.82%	-
Acquisition of Real Estate Assets	-638.98	-1,194	-191.73	-1,061	-105.11
Sale of Real Estate Assets	-	2,200	-	-	-
Net Sale / Acq. of Real Estate Assets	-638.98	1,006	-191.73	-1,061	-105.11
Investment in Marketable & Equity Securities	-7.92	6.1	-	-	-
Other Investing Activities	-228.9	-	-20.52	-	-
Investing Cash Flow	-875.8	1,013	-212.25	-1,061	-105.11
Long-Term Debt Issued	-	-	15.02	-	-
Net Debt Issued (Repaid)	-	-	15.02	-	-
Common Dividends Paid	-1,393	-1,121	-973.27	-483.36	-1,009
Miscellaneous Cash Flow Adjustments	-	-0	-	-0	-
Net Cash Flow	85.4	2,022	1,694	-524.19	1,196
Levered Free Cash Flow	1,158	1,186	677.56	474.93	583.26
Unlevered Free Cash Flow	1,161	1,188	681.03	476.51	584.61
Change in Working Capital	-156.19	151.07	1,438	-189.66	1,149