Investor Presentaiton

Source of capital use of capital Capital Structure 4% Improvement in Net Debt driven by strong cash balance FMN Food and Agro-Allied Group STATEMENT OF FINANCIAL POSITION H1'24 H1'23 %Chg Net Debt (bn) 275.4 284.8 (4%) 264.9 Debt Mix PPE 340.2 336.8 1 59% 55% 50% 72% Right of Use Assets 16.3 15.7 4 127.1 Working capital 190.2 189.7 0 41% 45% 50% 28% Others Cash 30.7 12.5 145 FY'22 H1'23 FY'23 H1'24 FY'22 H1'23 FY'23 H1'24 214.2 59.2 262 Short-term debt Long-term debt 791.5 613.8 29 Borrowings 479.0 334.7 43 • Lease liabilities 30.4 20.6 47 Others 65.4 62.5 5 Non-controlling interest 17.4 6.4 173 Equity & Reserves 199.3 189.7 5 Debt funding optimization using bonds and CPs to replace Bank Overdrafts. Issued N85bn commercial paper at an average rate of 12.6% to further reduce the financing costs for the balance of the year, and beyond Strong balance sheet, which ensures flexibility in fund raising, as required, at competitive interest rates Total 791.5 613.8 29 FLOUR MILLS OF NIGERIA PLC | INVESTOR PRESENTATION H1'24

View entire presentation