NGX:UPDCREIT Cash Flow Statement

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Mar '26 Mar 31, 2026	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	-	4,335	4,698	3,803	1,677	-4,480	Upgrade
Depreciation & Amortization	-	199.02	110.14	69.37	53.78	72.36	Upgrade
Gain (Loss) on Sale of Assets	-	-1.4	-410	-	-	-	Upgrade
Gain (Loss) on Sale of Investments	-	-7.91	16.47	-0.67	46.95	323.84	Upgrade
Asset Writedown	-	-2,102	-2,541	-2,475	-552.22	5,092	Upgrade
Change in Other Net Operating Assets	-	-119.29	-120.17	6.4	-544.89	-419.51	Upgrade
Other Operating Activities	-	13.98	3.58	-0.54	-15.28	11.93	Upgrade
Operating Cash Flow	-	2,354	2,130	2,864	1,020	2,310	Upgrade
Operating Cash Flow Growth	-	10.50%	-25.63%	180.71%	-55.82%	-	Upgrade
Acquisition of Real Estate Assets	-	-638.98	-1,194	-191.73	-1,061	-105.11	Upgrade
Sale of Real Estate Assets	-	-	2,200	-	-	-	Upgrade
Net Sale / Acq. of Real Estate Assets	-	-638.98	1,006	-191.73	-1,061	-105.11	Upgrade
Investment in Marketable & Equity Securities	-	-7.92	6.1	-	-	-	Upgrade
Other Investing Activities	-	-228.9	-	-20.52	-	-	Upgrade
Investing Cash Flow	-	-875.8	1,013	-212.25	-1,061	-105.11	Upgrade
Long-Term Debt Issued	-	-	-	15.02	-	-	Upgrade
Net Debt Issued (Repaid)	-	-	-	15.02	-	-	Upgrade
Common Dividends Paid	-	-1,393	-1,121	-973.27	-483.36	-1,009	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-0	-	-0	-	Upgrade
Net Cash Flow	-	85.4	2,022	1,694	-524.19	1,196	Upgrade
Levered Free Cash Flow	-	1,158	1,186	677.56	474.93	583.26	Upgrade
Unlevered Free Cash Flow	-	1,161	1,188	681.03	476.51	584.61	Upgrade
Change in Working Capital	-	-156.19	151.07	1,438	-189.66	1,149	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.