NGX:UPDCREIT Cash Flow Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	4,698	3,803	1,677	-4,480	1,932	Upgrade
Depreciation & Amortization	110.14	69.37	53.78	72.36	80.7	Upgrade
Gain (Loss) on Sale of Assets	-410	-	-	-	-	Upgrade
Gain (Loss) on Sale of Investments	16.47	-0.67	46.95	323.84	-249.94	Upgrade
Asset Writedown	-2,541	-2,475	-552.22	5,092	-53.08	Upgrade
Change in Other Net Operating Assets	-114.09	6.4	-544.89	-419.51	345.15	Upgrade
Other Operating Activities	-2.5	-0.54	-15.28	11.93	10.27	Upgrade
Operating Cash Flow	2,136	2,864	1,020	2,310	-687	Upgrade
Operating Cash Flow Growth	-25.42%	180.71%	-55.82%	-	-	Upgrade
Acquisition of Real Estate Assets	-1,194	-191.73	-1,061	-105.11	-260.65	Upgrade
Sale of Real Estate Assets	1,790	-	-	-	652.44	Upgrade
Net Sale / Acq. of Real Estate Assets	596.46	-191.73	-1,061	-105.11	391.78	Upgrade
Other Investing Activities	410	-20.52	-	-	-	Upgrade
Investing Cash Flow	1,006	-212.25	-1,061	-105.11	391.78	Upgrade
Long-Term Debt Issued	-	15.02	-	-	-	Upgrade
Net Debt Issued (Repaid)	-	15.02	-	-	-	Upgrade
Common Dividends Paid	-1,121	-973.27	-483.36	-1,009	-1,574	Upgrade
Miscellaneous Cash Flow Adjustments	-0	-	-0	-	-0	Upgrade
Net Cash Flow	2,022	1,694	-524.19	1,196	-1,869	Upgrade
Levered Free Cash Flow	1,186	677.56	474.93	583.26	1,492	Upgrade
Unlevered Free Cash Flow	1,188	681.03	476.51	584.61	1,492	Upgrade
Change in Net Working Capital	-259.61	128.97	228.35	-99.09	-270.18	Upgrade

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