UACN debt drops to N307bn in H1 2026 as cash flow jumps to N70.9bn
UACN Plc reduced its total debt by N37 billion driven by a surge in free cash flow, primarily powered by the C.H.I. business segment.
UACN Plc slashed its total debt to N307 billion during the first half of 2026, according to CardinalStone Research. The conglomerate repaid N37 billion through stronger cash generation, lowering liabilities from N344.8 billion at the end of 2025. CardinalStone calculated that UACN generated N70.9 billion in free cash flow for this period, a sharp increase from N8.8 billion in H1 2025. This rise resulted from improved operating performance and reduced inventory levels. The research firm adjusted its forecast for FY2026 total debt downward to N284 billion, expecting continued balance sheet improvement. Financing costs declined by 18.8 percent quarter-on-quarter in the second quarter of 2026 as a result of this deleveraging. CardinalStone identified UACN's Packaged Foods and Beverages segment as the main earnings driver, representing 84.2 percent of group revenue in H1 2026. The integration of C.H.I. Limited supported the segment's performance, with operating margins improving to about 15.1 percent.
