Trans-Nationwide Express 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	2020 - 2016
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	2020 - 2016
Net Income	-176.72	-97.89	16.03	25.22	-39.71	Upgrade
Depreciation & Amortization	22.51	33.22	40.38	46.33	66.54	Upgrade
Other Amortization	3.09	5.48	4.23	5.23	2.37	Upgrade
Loss (Gain) From Sale of Assets	-1.55	-2.35	-8.49	-2.39	-29.26	Upgrade
Loss (Gain) From Sale of Investments	-1.37	-0.73	-4.34	0	-0.08	Upgrade
Other Operating Activities	-35.21	-29.28	1.9	-1.86	3.12	Upgrade
Change in Accounts Receivable	33.4	45.45	-54.55	-24.84	38.81	Upgrade
Change in Inventory	0.48	0.34	1.32	1.2	0.33	Upgrade
Change in Accounts Payable	70.59	77.62	32.94	32.54	-11.33	Upgrade
Operating Cash Flow	-84.79	31.86	29.41	81.45	30.79	Upgrade
Operating Cash Flow Growth	-	8.35%	-63.90%	164.55%	-30.88%	Upgrade
Capital Expenditures	-0.15	-1.22	-9.23	-20.9	-68.3	Upgrade
Sale of Property, Plant & Equipment	1.55	2.35	8.68	2.39	34.54	Upgrade
Investment in Securities	33.37	4.61	-21.68	-22.09	-1.15	Upgrade
Other Investing Activities	-1.67	-4.99	-3.52	-32.92	0.46	Upgrade
Investing Cash Flow	33.1	0.75	-25.75	-73.53	-34.45	Upgrade
Common Dividends Paid	-	-9.96	-9.38	-	-	Upgrade
Financing Cash Flow	-	-9.96	-9.38	-	-	Upgrade
Net Cash Flow	-51.69	22.65	-5.72	7.92	-3.67	Upgrade
Free Cash Flow	-84.94	30.64	20.17	60.55	-37.51	Upgrade
Free Cash Flow Growth	-	51.89%	-66.68%	-	-	Upgrade
Free Cash Flow Margin	-43.17%	11.74%	3.83%	8.67%	-5.53%	Upgrade
Free Cash Flow Per Share	-0.17	0.06	0.04	0.12	-0.07	Upgrade
Cash Income Tax Paid	1.51	5.97	8.05	16.64	1.86	Upgrade
Levered Free Cash Flow	-28.87	113.46	-33.87	26.31	54.81	Upgrade
Unlevered Free Cash Flow	-28.87	113.46	-33.87	26.31	54.81	Upgrade
Change in Working Capital	104.46	123.41	-20.3	8.91	27.82	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.