Year end - financial statement for 2025

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

Group

Company

2025

2024

2025

2024

Continuing operations

Notes

=N=000

=N=000

=N=000

=N=000

14

16,313,823

12,613,715

8,554,648

5,785,087

16

(12,461,679)

(9,979,178)

(6,667,202)

(4,477,656)

3,852,143

2,634,537

1,887,447

1,307,431

17

(2,767,488)

(1,656,062)

(1,207,629)

(860,203)

1,084,655

978,475

679,818

447,228

Other operating income

15

602,426

447,454

346,285

278,918

Interest income

18

-

-

-

-

Net fair value gains on

financial assets through

profit or loss

18

2,086

3,140

2,042

3,096

Other gains and losses

19

147,407

(261,976)

38,469

41,682

Finance costs 20 (433,477) (532,322) (395,729) (491,490)

(Loss)/profit ) before income tax

1,403,097

634,771

670,884

279,435

Income tax expense 11. (539,309) (42,241) (268,354) (125,514)

Revenue from contract with cus

Direct costs

Gross profit

Administrative expenses

Attributable to:

Equity shareholders

Non-controlling interests

-

788,468

454,020

402,531

153,921

75,320

138,509

863,788

592,530

402,531

153,921

(61,833)

(211,890)

(61,833)

(211,890)

Total comprehensive (loss)/income fo

801,955

380,640

402,531

153,921

Attributable to:

Equity shareholders

Non-controlling interests

727,254

244,249

402,531

153,921

74,702

136,390

-

-

801,955

380,640

402,531

153,921

Basic earnings per share(kobo)

36

25

16.82

6.43

Diluted earnings per share(kobo)

36

25

16.82

6.43

The accompanying notes and s atement of material accounting policy information form an integral part of these

consolidated and Separate financial statements.

1

ABC TRANSPORT PLC CONSOLIDATED AND SEPARATE INCOME STATEMENT FOR OCTOBER TO

DECEMBER 30, 2025

OCTOBER-DECEMBER 2025

OCTOBER -DECEMBER

Note

Group

Group

Company

Company

2025

2024

2025

2024

=N='000

=N='000

=N='000

=N='000

CONTINUING OPERATIONS

Revenue

14

4,390,875

4,563,753.4

4,475,717

1,867,677

Cost of sales

16

(3,082,693)

(3,564,492.5)

(3,481,970)

(1,375,496)

Gross profit

1,308,182

999,261

993,747

492,181

Admistrative expenses

17

(1,073,262)

43,948.5

(661,491)

(288,406)

Other operating income

15

177,604

136,881.6

189,386

94,871

Interest income

18

-

(2,186.4)

-

0

Net fair value gains/(losses) on financial assets at fair v

-

(17,909.3)

-

954

Impairment losses Other gains a

-19

-

-

-

0

Other gains and losses

197,720

(331,831.0)

(9,680)

18,052

Financing costs

20

(134,000)

(169,948.7)

(200,224)

(167,854)

Profit before taxation

476,244

658,215.7

311,738

149,797

Income tax expenses(provision

11

(198,125)

(167,336.0)

(133,558)

(29,510)

Profit from continuing operations

278,119

490,879.7

178,180

120,287

Attributable to: Equity shareholders

Non-controlling interests

242,067

400,100.5

178,180

120,287

36,053

90,779.4

278,120

490,879.9

178,180

120,287

(69,583)

(10,030.0)

208,537

480,849.9

178,180

120,287

173,180

390,170.8

178,180

120,287

35,357

90,679.1

208,537

480,849.9

178,180

120,287

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

Group

Company

2025

2024

2025

2024

Note

N'000

N'000

N'000

N'000

Non-current assets

Property, plant and equipment

1

10,421,213

6,548,445

8,669,948

5,407,079

Intangible assets

12

25,954

22,161

21,801

20,843

Right of use assets

166,339

26,557

155,253

-

Investment in subsidiaries

0

141,470

141,470

Financial assets - FVOCI

1,845

1,845

1,845

1,845

Financial assets - FVPL

-

18,876

-

18,876

Deferred tax asset

394,750

412,435

59,864

59,864

Total non-current assets

11,010,101

7,030,319

9,050,181

5,649,977

Current assets

Inventories

2

1,150,048

1,023,487

453,153

267,186

Trade and other receivables

4

537,643

459,129

748,219

515,250

Other assets

5

1,473,549

1,157,761

633,750

481,225

Cash and Cash equivalents

6

240,551

447,951

59,378

118,391

Current Tax asset

-

5,801

-

Total current assets

3,401,791

3,094,130

1,894,500

1,382,052

Total assets

14,411,892

10,124,448

10,944,681

7,032,028

Equity and reserves

Issued share capital

1,196,311

1,196,311

1,196,311

1,196,311

Share premium

434,607

434,607

434,607

434,607

Retained earnings

275,458

(591,797)

(4,761)

(505,288)

Other comprehensive income reserve

(139,052)

(272,102)

18,188

18,188

Shareholder's fund

1,767,325

767,019

1,644,345

1,143,818

Non-controlling interests

303,759

229,222

-

Total equity and reserves

2,071,084

996,241

1,644,345

1,143,818

Non-current liabilities

Loans and borrowings

10a

843,610

2,715,255

525,467

2,631,900

Larfarge Advance frieght fees

4,332,059

0

4,332,059

Provisions

9

292,071

175,135

292,071

175,135

Deferred tax liabilities

8,526

27,695

-

-

Total non-current liabilities

5,476,266

2,918,085

5,149,597

2,807,035

Current liabilities

Loans and borrowings

10b

789,025

1,269,731

789,025

1,269,731

Post employment benefits - defined contribution

383,158

365,398

383,158

365,398

Post employment benefits - defined bene

13

1,720

94,999

-

93,039

Current tax liabilities

11

946,475

531,359

391,302

165,750

Trade and other payables

7

4,533,401

3,709,538

2,408,954

1,031,848

Contract laibilities

8

210,762

239,096

178,300

155,409

Total current liabilities

6,864,542

6,210,121

4,150,738

3,081,175

Total Liabilities

12,340,807

9,128,206

9,300,335

5,888,210

Total equity and liabilities

14,411,892

10,124,448

10,944,681

7,032,028

The consolidated and Separate financial statements were approved by the Board of Directors on 29th January 2026

and signed on its behalf by:

The accom

3

Cash flows from financing activities:

Issue of shares

Borrowings/leases-Additions

Repayment of borrowings

Repayment of finance Lease obligations

Finance Charges

Net cash inflow(outflow) from financing activities

796,521

2,862,770

(1,009,015)

(1,103,671)

519,000

2,644,222

(966,282)

(913,117)

(433,477)

(532,322)

(395,729)

(491,490)

(645,971)

1,226,777

(843,010)

1,239,615

CONSOLIDATED AND SEPARATE STATEMENT OF CASH FLOWS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

Group

Company

2025

2024

2025

2024

=N=000

=N=000

=N=000

=N=000

Cash flow from operating activities

4,449,197

1,825,572

4,198,680

1,444,859

Interest paid

Income tax paid

Net cash inflow(outflow) from operating activities

4,449,197

1,825,572

4,198,680

1,444,859

Cash flow from investing activities:

Purchase of Property,plant and equipment

(3,967,089)

(2,835,004)

(3,494,542)

(2,658,330)

Purchase of Intangible assets

(16,861)

(18,544)

(16,138)

(17,274)

Sale of property, plant and equipment/Assets Held-for-Sale

100,408

44,478

100,408

44,478

Dividends received

Interest received

2,086

3,140

2,042

3,096

Cash received from Investment in finance leases

Borrowing cost on fixed assets addition

Net cash inflow(outflow) from investing activities

(3,881,456)

(2,805,930)

(3,408,230)

(2,628,030)

Net increase(decrease) in cash and cash equivalents

(78,230)

246,419

(52,561)

56,011

Cash and cash equivalents at 1 January

318,781

201,531

111,938

62,380

Cash and cash equivalents at 31/12/2025

240,551

447,950

59,377

118,391

N:B :Overdaft is considered as part of cash and cash equivalents

ABC TRANSPORT PLC

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

Attributable to equity holiders- the Group

Issued

Non

share

Share

Retained

OCI

controlling

capital

premium

earnings

reserves

interests

=N=000

=N=000

=N=000

=N=000

=N=000

At 1 January 2024

1,196,310.89

434,607.00

(1,045,816.84)

(62,331.02)

92,831.83

Changes in equity for 2024

Profit for the year

obligation

Net exchange differences on

translating foreign operations

DECEMBER 31, 2024

(209,771.00)

(2,119.00)

(211,890.00)

1,196,311

434,607

(591,797)

(272,102)

229,222

996,241

Changes in equity for 2024

Profit/(Loss) for the year

DECEMBER 31, 2024

Profit for the year

Net exchange differences on translating foreign operations

DECEMBER 31, 2025

788,468

75,320

863,788

(61,215)

(618)

(61,833)

1,196,311

434,607

275,458

(139,052)

303,759

2,071,084

1,196,311

434,607

ABC TRANSPORT PLC

SEPARATE STATEMENT OF CHANGES IN EQUITY

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

Attributable to equity holiders- the Company

Issued

share

Share

Retained

capital

premium

earnings

=N=000

=N=000

=N=000

At 1 January 2024

1,196,311

434,607

(659,209)

OCI

reserves

=N=000

18,188

153,921

153,921

1,196,311 434,607 (505,288)

18,188 1,143,818

As at 1 January 2025

1,196,311

434,607

(407,291)

18,188

1,241,815

Changes in equity for 2025

0

Profit/(Loss) for the year

402,531

402,531

Dividend paid

0

DECEMBER 31, 2025

1,196,311

434,607

(4,761)

18,188

1,644,345

The accompanying notes and statement of material accounting policy information form an integral part of these consolidated and separate financial statements.

5

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

NOTES TO THE ACCOUNTS

PROPERTY,PLANT AND EQUIPMENT

GROUP

MOTOR VEHICLE

EQUIP, FURN &

& FITTINGS

COMPUTER

LAND

BUILDINGS

WIP

TOTAL

Right of Use-

MV

Right of Use-

Building

Total

COST/REVALUATION:

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

BALANCE 01/01/2025

11,050,573

684,405

119,702

307,458

1,399,952

946,173

14,508,263

89,288

89,288

ADJUSTMENT

-

-

-

ADDITIONS/REVALUATION

3,269,335

96,026

10,363

85,170

190,554

132,113

3,783,561

182,649

880

183,529

TRANS & RECLASSIFICATION

(201,122)

(201,122)

-

DISPOSALS/ADJUSTMENT

(248,691)

-

-

-

-

-

(248,691)

-

TRANSFERS FROM WIP

-

-

BALANCE 31/12/2025

14,071,217

780,431

130,065

392,627

1,590,506

877,164

17,842,011

182,649

90,168

272,817

DEPRECIATION:

BALANCE 01/01/2025

4,630,164

528,197

91,527

-

1,007,816

-

6,257,704

73,392

73,392

ADJUSTMENT

-

-

CHARGE

1,291,239

51,766

7,977

-

60,728

1,411,709

27,396

5,689

33,085

ELIMINATED ON DISPOSAL

(248,615)

-

(248,615)

-

DISPOSAL/ADJUSTMENT

-

-

TRANSFER TO FLR/ASSO

-

-

DERECOGNISED

-

-

BALANCE 31/12/2025

5,672,787

579,963

99,504

0

1,068,543

0

7,420,798

27,396

79,081

106,477

AT 31/12/2024 AT 31/12/2025

4,736,626

8,398,430

129,175

200,468

27,218

30,561

299,528

392,627

391,275

521,962

964,622

877,164

6,548,445

10,421,213

155,253

17,963

11,087

17,963

166,339

MOTOR VEHICL

EQUIP, FURN

COMPUTER

LAND

BUILDINGS

WIP

TOTAL

Right of Use-

MV

& FITTINGS

COST/REVALUATION:

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

BALANCE 01/01/2025

10,711,871

543,448

109,144

187,458

1,383,344

101,384

13,036,649

ADDITIONS/REVALUATION

2,829,241

91,169

4,057

85,170

190,554

111,703

3,311,894

182,649

TRANS & RECLASSIFICATI

-

(201,122)

(201,122)

DISPOSALS/ADJUSTMENT

(248,691)

-

-

-

-

-

(248,691)

TRANSFERS FROM WIP

0

BALANCE 31/12/2025

13,292,421

634,617

113,201

272,627

1,573,898

11,965

15,898,729

182,649

DEPRECIATION:

BALANCE 01/01/2025

4,392,143

436,648

90,388

-

1,007,816

-

5,926,995

ADJUSTMENT

-

0

CHARGE

1,159,300

32,027

7,627

-

60,071

-

1,259,024

27,396

TRANSFERS

126,169

9,956

136,125

ELIMINATED ON DISPOSAL

(248,615)

-

(248,615)

BALANCE 31/12/2025

5,428,996

478,631

98,015

-

1,067,887

-

7,073,529

27,396

0

AT 31/12/2024

4,635,379

97,486

18,634

179,528

374,669

101,384

5,407,080

-

AT 31/12/2025

7,863,425

155,986

15,185

272,627

506,011

11,965

8,825,201

155,253

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

NOTES TO THE ACCOUNTS

GROUP

COMPANY

INVENTORY

2025

2024

2025

2024

=N=000

=N=000

=N=000

=N=000

Motor vehicle spares

337,781

203,991

337,781

203,991

Fuel and diesel

61,093

30,345

61,093

30,345

Stationeries and printed materials

22,294

9,393

22,294

9,393

Oil and lubricants

27,798

18,991

27,798

18,991

Snacks and fruit drinks

-

8

-

8

Uniform and promotional materials

1,336

782

1,336

782

Sanitation materials

103

187

103

187

City Transit Inn (CTI)

2,748

3,489

2,748

3,489

Transit Support Services (TSS)

696,895

756,301

-

1,150,048

1,023,487

453,153

267,186

3

NON CURRENT ASSETS HELD FOR SALE

MOTOR VEHICLES

OTHERS

4

TRADE AND OTHER RECEIVABLES

ACCOUNTS RECEIVABLE

399,686

280,200

119,638

111,443

STAFF DEBTS

119,002

129,552

105,282

84,708

ABC GHANA LTD

-

-

24,323

132,327

OTHER RECEIVABLES

-

(716)

-

550

OTHER DEBTORS

18,956

50,093

215

30,526

TRANSIT SUPPORT SERVICES LIMITED

-

-

498,761

155,696

537,643

459,129

748,219

515,250

5

OTHER CURRENT ASSETS

PREPAID RENT

191,674

108,504

77,866

21,845

PREPAID INSURANCE

66,800

75,717

64,334

67,631

WITHOLDING TAX RECOVERABLE

556,226

457,838

491,550

391,750

DEPOSIT WITH SUPPLIERS

639,969

513,704

-

-

OTHERS

18,880

1,998

-

-

1,473,549

1,157,761

633,750

481,225

6

CASH AND CASH EQUIVALENTS

CASH IN HAND

44,092

47,458

14,028

14,133

CASH AT BANK

196,459

400,492

45,350

104,257

240,551

447,951

59,378

118,391

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

NOTES TO THE ACCOUNTS

GROUP

COMPANY

2025

2024

2025

2024

=N=000

=N=000

=N=000

=N=000

1,639,088

1,910,910

159,213

239,967

1,191

1,750

1,191

7,959

5,887

7,959

5,887

108,979

210,572

45,829

132,155

10,963

9,341

8,927

7,812

34,192

46,102

34,192

46,102

28,338

12,948

28,338

12,948

1,543,980

1,245,243

471,755

358,779

984,530

984,530

-

249

157

249

157

2,810

18,835

2,810

18,809

648,538

179,180

1,020

6,920

1020

820

171,294

241,430

13,844.6

28,041

4,533,401

3,709,538

2,408,954

1,031,848

4,332,059

4,332,059

8

CONTRACT LIABILITIES

DEFERRED INCOME FROM CARGO

32,253

94,393

-

DEFERRED INCOME FROM LEASED WAREHO

68,020

16,493

68,020

27,408

Deferred income -DTA income & Others

110,280

128,001

110,280

128,001

DEFERRED INCOME FROM GOVERNMENT GR

209

209

210,762

239,096

178,300

155,409

9

PROVISIONS

PROVISION FOR LITIGATION SETTLEMENT

60,242

45,854 60,242 45,854

OTHER PROVISIONS

231,829

129,281 231,829 129,281

292,071

175,135 292,071 175,135

10

BORROWINGS

NONE CURRENT BORROWINGS

ACCESS BANK LOAN

419,822

101,680

LAFARGE TRUCK FINANCE SCHEME

288,858

2,343,105 288,858 2,343,105

16.5% BOND

134,929

288,795 134,929 288,795

BANK OF INDUSTRY-TSS

-

83,355

843,610

2,715,254 525,467 2,631,899

9

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

NOTES TO THE ACCOUNTS

GROUP

COMPANY

2025

2024

2025

2024

CURRENT BORROWINGS

=N=000

=N=000

=N=000

=N=000

BORROWINGS

ACCESS BANK LOAN

333,321

292,165

333,321

292,165

LAFARGE TRUCK FINANCE SCHEME

236,188

788,997

236,188

788,997

16.5% BOND

219,516

188,569

219,516

188,569

789,025

710,273

789,025

686,698

TAXATION

B/FWD

621,378

523,962

265,243

138,809

ADJUSTMENT/DEFERRED TAX

150,583.00

162,260

-

(19,343)

INCOME TAX PROVISION FOR THE PERIOD

539,309

42,241

268,354

125,514

ADJ PROVISION FOR THE PERIOD

1,311,270

728,462

533,596

244,980

PAID IN THE PERIOD

(364,795.38)

(197,103)

(142,294)

(79,230)

C/FWD

946,475

531,359

391,302

165,750

TAXATION

Current tax assets -ABC GHANA

0

5,801

12

INTANGIBLE ASSETS

25,954

22,161

21,801

20,843

13

POST EMPLOYMENT BENEFITS

DEFINED BENEFIT OBLIGATION SCHEMES

1,720

94,999 (0) 93,039

1,720

94,999 (0) 93,039

10

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

NOTES TO THE ACCOUNTS

GROUP

COMPANY

2025

2024

2025

2024

REVENUE

=N=000

=N=000

=N=000

=N=000

Transport earnings

3,254,921

2,533,966

3,178,329

2,589,188

Haulage operations

4,848,221

2,837,950

4,848,221

2,837,950

Loads and waybill

5,324,129

4,019,971

24,645

22,119

Hospitality

503,454

335,829

503,454

335,829

Sale of vehicle spares and speed governor

2,383,098

2,885,999

-

16,313,823

12,613,715

8,554,648

5,785,087

15

OTHER OPERATING INCOME

Insurance indemnity

19,945

79,557

-

3,000

Operating rental income

10,851

14,742

42,301.30

48,703

Income from adverts

0

3,543

-

3,543

Sale of scrap/other assets

6,886

14,931

6,885.70

14,931

Exchange gain

2,807

4,211

2,807.04

4,211

Demurrage on waybills

257

456

-

-

Franchise income

484,377

261,232

216,988

135,749

Training income

77,023

68,747

77,023

68,747

utility fee

273

35

273

35

602,426

447,454

346,285

278,918

16

OPERATING COSTS

Salaries and allowances

Uniform and training

Trip expenses

Standby expenses

Hospitality expenses

Driver training academy expenses

Depreciation and amortisation

Motor vehicle repairs & maintenance

Repairs and maintenance buildings

Repairs and maintenance other assets

Road expenses

Fuel expenses

Insurance expenses

Rent expenses

Oil and lubricant

Loading and offloading

Fines

Food items, drinks, etc.

Packaging

Other direct expenses

TSSL

GROUP

COMPANY

2025

2024

2025

2024

=N=000

=N=000

=N=000

=N=000

1,186,553

1,059,180

588,935

454,554

9,198

5,513

1,197

1,406

342,718

208,639

220,144

131,431

22,394

17,576

22,394

10,020

203,003

161,939

203,003

161,939

23,717

20,689

23,717

20,689

1,377,489

682,515

1,208,770

536,504

1,540,192

1,063,881

1,018,773

718,192

11,470

17,849

11,470

6,578

15,423

30,175

15,423

18,539

335,655

243,649

213,835

156,155

4,167,699

3,384,017

2,489,541

1,964,390

277,359

124,812

250,809

110,428

15,674

92,188

47,124

17,905

239,390

146,995

141,457

82,265

224,817

143,878

122,399

47,836

1,769

2,361

1,769

1,781

7,859

6,776

4,891

2,129

107,648

54,232

-

-

473,039

298,651

81,550

34,909

1,878,611

2,213,665

-

12,461,679

9,979,178

6,667,202

4,477,656

11

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

NOTES TO THE ACCOUNTS

GROUP

COMPANY

2025

2024

2025

2024

ADMINISTRATIVE EXPENSES

=N=000

=N=000

=N=000

=N=000

Salaries and allowances

273,256

136,612

88,002

67,922

Pension

51,200

49,123

36,831

32,758

Staff gratuity expenses

332

-

-

-

Staff terminal benefit

(40)

(3,703)

(40)

(3,703)

Inconvenience allowance

8,488

16,693

7,752

4,924

Outstation Expenses

19,496

17,139

19,496

14,625

Meal subsidy

15,759

7,672

14,837

6,912

Bonuses

167,822

97,213

35,602

40,984

Staff training and development

22,033

13,796

15,099

7,831

NSITF- employer's contribution

3,890

5,976

3,507

3,849

Medical expenses

38,955

28,504

24,535

16,997

Depreciation and amortisation

115,359

77,436

90,983

40,382

Motor vehicle repairs and maintenan

28,399

77,542

27,913

16,119

Repairs and maintenance buildings

14,837

1,391

2,024

1,161

Repairs and maintenance other ass

37,934

2,732

1,161

1,395

Computer repairs and maintenance

16,788

17,401

16,788

9,916

Local and Foreign transport expense

256,961

142,811

58,625

56,834

Fuel expenses

53,235

35,591

40,796

20,723

Insurance expenses

169,101

72,550

160,353

70,601

Compensation

32,907

70,025

12,078

11,068

Accident expenses

10,602

10,522

7,545

8,382

Rent expenses

163,244

22,167

8,316

3,160

Water rate

2,144

1,269

651

375

Development levy

(0)

(96)

(0)

(96)

Other taxes and levies

37,728

29,183

6,271

7,193

Licensing/registration

90,596

53,810

51,050

35,700

Director's emolument

54,534

54,282

37,147

37,439

Director's fees

11,500

3,800

10,000

2,300

Advertisement and publicity

31,968

26,990

17,981

16,478

Public relation

8,612

5,033

3,162

2,428

Donations

17,092

7,217

10,103

6,556

Subscription and dues

48,309

44,208

31,984

35,359

Electricity and lighting

123,471

94,140

62,041

48,540

Bank charges and commission

60,374

52,381

24,761

18,071

Audit fees

19,512

14,460

6,061

6,099

Legal and professional charges

104,811

18,434

16,017

13,434

Printing and stationeries

85,373

42,329

25,696

16,839

Printed and promotional materials

96

-

96

-

Hotel expenses

14,427

9,904

12,113

8,324

Security expenses

123,056

38,072

45,193

31,476

Cleaning and sanitation

16,191

25,402

13,168

9,921

Clearing expenses

16,919

13

0

13

Telephone and postages

73,476

46,201

24,837

22,258

Newspaper expenses

177

228

173

228

Exchange loss

9

5

9

5

Entertainment expenses

17,400

12,105

7,825

7,549

AGM expenses

6,792

4,844

6,792

4,844

Office expenses

15,940

11,023

15,597

10,671

General expenses

213,825

55,914

106,685

24,493

Impairment charge on related party

-

60,868

60,868

RATES EXPENSES

-

70

-

CASH OVER AND SHORT

226

250

-

OTHER MARKETING/DISTRIBUTI

72,357

44,533

-

First aid

12

-

12

-

2,767,488

1,656,062

1,207,629

860,203

12

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

NOTES TO THE ACCOUNTS

GROUP

COMPANY

2025

2024

2025

2024

INTEREST/OTHER INCOME

=N=000

=N=000

=N=000

=N=000

bank interest

-

0

-

0

investment income

2,086

3,140

2,042

3,096

BANK INTEREST

2,086

3,140

2,042

3,096

19

OTHER GAINS AND LOSSES

Profit on disposal of PPE

100,408

44,478

100,408

44,478

exchange gains etc)

34,330

(586,295)

Others(Miscellaneous income)

12,669

279,841

(61,940)

(2,796)

-

147,407

(261,976)

38,469

41,682

20

FINANCE COST

FINANCE LEASE CHARGES

GROUP

COMPANY

2,025

2,024

2,025

2,024

=N=000

=N=000

=N=000

=N=000

433,477

532,322

395,729

491,490

433,477

532,322

395,729

491,490

21

CASH FLOW FROM OPERATING ACTIVITIES

(Loss)/profit for the year

863,788

592,530

-

-

780,677

-

(3,140)

-

532,322

(73,381)

42,241

(44,478)

(60,868)

153,921

-

-

576,724

138,201

(3,096)

-

491,490

-

125,514

(44,478)

(60,868)

Adjustment for:

Depreciation and amortisation

1,401,260

Transfers & Reclafficiations

-

Fair value gain on Financial assets -FVTPL

(2,086)

Charges on Financial assets-FVTPL

-

Interest expense

433,477

Net exchange differences on translating foreign operations

13,487

Income tax expense

539,309

Profit on disposal of property, plant and equipmen

(100,408)

Impairment on Related party

-

-

3,148,827

OPERATING PROFIT/(LOSS) BEFORE CHANGES IN OPEARTING ASSETS

Changes in:

Inventories

(89,334)

Trade and other receivables

217,344

Other Current assets

(324,949)

INCREASE/(DECREASE) IN OPERATING LIABS. CREDITORS

-

Trade and other payables

1,921,137

Contract laibilities

17,924

1,286,420

136,125

(2,042)

268,354

(100,408)

-

1,765,903

2,386,708

(16,007)

(148,741)

(61,118)

(82,521)

(341,126)

(136,323)

628,394

2,154,354

81,501

72,415

9,912

41,440

(110,106)

146,390

45,973

Cash generated from operating activities

4,890,950

2,057,547

4,245,892

1,511,018

Tax paid through cash

(364,795)

(197,103)

29,745

(29,497)

Employee benefit paid

(76,957)

(34,872)

(76,957)

(36,662)

Net cash from operating activities

4,449,197

1,825,572

4,198,680 1,444,859

13

ABC TRANSPORT PLC

CONSOLIDATED SEGMENT PERFORMANCE STATEMENT

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

2025

COACH

SPRINTER

SHUTTLE

CARGO

HAULAGE

Income

N'000

N'000

N'000

N'000

N'000

Corporate and others

HOSPITALITY (CTI)

TRADING(TRUC K/SPARE PARTS

OTHERS

TOTAL

N'000

N'000

N'000

N'000

790,348

2,148,680

615,901

5,303,396

4,594,876

376,581

2,174,684

26,062

16,030,529

Gross Segment Revenue

Intersegment Revenue

680,140

2,181,081

480,684

5,237,127

4,848,303

503,454

2,383,098

-

16,313,887

107,093

155,198

19,827

-

282,119

-

787,233

2,336,279

500,512

5,237,127

4,848,303

503,454

2,383,098

-

16,596,005

98,443

118,545

423,781

-

-

27,317

169,534

837,620

-

787,233

2,434,723

619,057

5,660,908

4,848,303

503,454

2,410,415

169,534

17,433,626

Total Revenue

Other Income

LESS: DIRECT COSTS

Material

Wages & Salaries

Depreciation-Direct

Depreciation-Apportioned

Finance Lease Charges

Operating Lease Charges

Intersegment Expenses

Impairment

Other direct overheads

286,922

856,359

214,794

2,371,623

1,504,858

109,974

1,844,411

-

7,188,940

47,140

149,063

63,835

597,618

149,866

29,324

54,672

-

1,091,518

64,417

167,485

10,307

-

992,027

26,411

21,923

1,282,570

1,431

8,091

3,610

-

2,054

-

-

15,186

6,231

108,165

4,404

8,723

272,316

4,612

29,025

-

433,477

-

-

-

184,783

-

-

-

-

184,783

-

-

-

282,119

-

-

-

-

282,119

-

-

-

-

-

-

-

-

-

253,127

522,009

109,223

622,395

1,252,885

104,176

72,357

26,062

2,962,233

659,269

1,811,172

406,173

4,067,260

4,174,006

274,497

2,022,388

26,062

13,440,826

127,964

623,551

212,883

1,593,648

674,297

228,956

388,027

143,472

3,992,800

GROSS PROFIT/(LOSS)

LESS: APPORTIONED COSTS

Workshop charge

General Administration

17,280

41,472

27,648

-

7,111

-

-

-

93,510

113,800

296,037

182,080

1,236,136

413,759

102,084

152,296

-

2,496,193

131,080

337,509

209,728

1,236,136

420,870

102,084

152,296

-

2,589,703

PROFIT/(LOSS) BEFORE TAXATION

(3,116)

286,042

3,155

357,512

253,427

126,873

235,731

143,472

1,403,097

ABC TRANSPORT PLC

CONSOLIDATED SEGMENT PERFORMANCE STATEMENT

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2024

2024

COACH

SPRINTER

SHUTTLE

CARGO

HAULAGE

Income

N'000

N'000

N'000

N'000

N'000

Corporate and others

(CTI)

TRADING(TRUC

OTHERS

TOTAL

N'000

N'000

N'000

N'000

Gross Segment Revenue

Intersegment Revenue

599,253

1,643,370

348,905

3,962,551

2,838,000

335,829

2,885,999

-

12,613,907

143,532

98,186

7,321

-

249,039

Total Revenue

Other Income

742,785

1,741,556

356,225

3,962,551

2,838,000

335,829

2,885,999

-

12,862,945

61,587

74,162

203,056

-

-

(313,833)

127,080

152,052

742,785

1,803,143

430,388

4,165,607

2,838,000

335,829

2,572,166

127,080

13,014,998

772,280

1,724,302

535,128

3,863,038

2,665,681

267,108

2,478,540

74,151

12,380,228

LESS: DIRECT COSTS

Material

Wages & Salaries

Depreciation-Direct

Depreciation-Apportioned

Finance Lease Charges

Operating Lease Charges

Intersegment Expenses

Impairment

Other direct overheads

284,010

741,477

144,467

2,100,144

1,051,758

81,107

2,213,666

-

6,616,630

64,346

100,540

32,977

604,626

86,983

22,807

46,169

-

958,448

44,562

159,735

33,422

-

272,944

16,711

8,768

536,142

4,913

11,749

12,389

-

7,049

-

-

36,100

12,489

29,474

7,271

-

435,258

6,999

40,832

-

532,322

-

-

-

124,493

-

-

-

-

124,493

-

-

-

249,039

-

-

-

-

249,039

-

-

-

-

-

-

-

-

-

189,452

384,612

83,791

224,893

637,260

94,485

44,462

21,909

1,680,864

599,772

1,427,587

314,317

3,303,195

2,491,252

222,108

2,353,897

21,909

10,734,037

143,013

375,556

116,070

862,412

346,749

113,720

218,269

105,171

2,280,961

GROSS PROFIT/(LOSS)

LESS: APPORTIONED COSTS

Workshop charge

General Administration

17,506

30,111

22,408

-

7,504

-

-

-

77,530

155,002

266,604

198,403

559,843

166,925

45,000

124,643

52,241

1,568,661

172,509

296,715

220,811

559,843

174,429

45,000

124,643

52,241

1,646,191

PROFIT/(LOSS) BEFORE TAXATION

(29,495)

78,841

(104,741)

302,569

172,320

68,720

93,626

52,930

634,770

ABC TRANSPORT PLC

NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2025

General information

ABC Transport Plc was incorporated in April 1993.The Company's business is road passenger transportation between major cities in the south,north central and Abuja.

In July 2004, the Company commenced road passenger transportation on the west coast between Lagos Nigeria and Accra Ghana.ABC Transport Ghana in which ABC Transport Plc owns a 99% equity stake was incorporated in 2007 to provide transport services within Ghana and to offer passenger and cargo handling service to ABC Transport Plc.

ABC Transport Plc is also involved Haulage Services and Hospitality business at its City Transit Inn (CTI), Abuja. In January1, 2023, the Cargo Segment of the company transformed into subsidiary with the company owning a 99% equity state

ABC Transport Plc which became public company in 2005 equally owns 50% equity stake in Transit Support Services Ltd, a trading company engaged in the importation, sales of vehicles spares and installation of motor vehicle speed governing devices and assembly of heavy duty trucks and a 5% stake in ABC Express Courier (ABEX) ltd.

Going Concern

The Group's management has made assessment of the Group's ability to continue as a going concern and is satisfied that the Group has the resources to continue in business for the foreseeable future.Furthermore,management is not aware of any material uncertainties that may cast doubt upon the Group's ability to continue as a going concern.Therefore, the financial statements are prepared on going concern basis.

Basis of preparation of fourth quarter account

This consolidated financial statement for fourth quarter months ended september, 2025 has been prepared in accordance with the International Financial Reporting Standard (IFRS) set by International Accounting Standard Board(IASB) and specifically in compliance with Interim Financial Reporting (IAS 34). The financial report should be read in conjuction with the Group's audited financial statements for 2024 which presents the company's IFRS policies.

The financial statements are prepared on the historical cost basis of accounting.The financial statements are presented in Naira, which is the functional currency of the economic environment in which the entity operates and are presented in thousands of Naira.

3

New standards, ammendments, interpretations is sued but not yet effective

The following new pronouncements, considered relevant to the Company, are not yet effective as at as Ist January,2025 and have not been early adopted by the Company. The Company's assessment of the impact of these new standards, interpretations or amendments is set out below.

Lack of Exchangeability (Amendments to IAS 21)

The amendments to IAS 21 address the issue of currency exchangeability and provide guidance on determining the exchange rate when a currency is not exchangeable. These amendments require entities to assess whether a currency can be exchanged into another currency within a normal administrative delay and through a market or exchange mechanism that creates enforceable rights and obligations. If a currency is not exchangeable, entities must estimate the spot exchange rate at the measurement date

Additionally, the amendments mandate disclosures that enable users of financial statements to understand the impact of a currency not being exchangeable. These disclosures include qualitative and quantitative information about the lack of exchangeability and its effects on the entity's financial position. The amendments are effective for annual reporting periods beginning on or after January 1, 2025

The amendments are effective for annual periods beginning on or after 1 January 2025 to changes in accounting policies and changes in accounting estimates that occur on or after the beginning of that period, with earlier application permitted.

The amendment will be appropriate applied when the circumstances to demand

Presentation and Disclosure in Financial Statements - IFRS 18

This new standard deals with the presentation and disclosure of information in general-purpose financial statements; new requirements:

• specified totals or subtotals within the statement of profit or loss.

• disclosure of management-defined performance measures; over the coverage period.

• aggregation and disaggregation of financial information based on the identified 'roles' of the primary financial statements and the notes; and

• consequential amendments to other accounting standards.

IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information

This new standard requires entities to disclose information about sustainability-related risks and opportunities

that are useful to users relating to providing resources to the entity.

• Eâ—»ntities are required to disclose information about sustainability-related risks and opportunities reasonably expected to affect their prospects.

• Pâ—»rescribes how the entity prepares and reports its sustainability-related disclosures, setting out general requirements for content and presentation thereof.

• Tâ—»o provide an understanding of the entity's governance processes & controls, strategy to manage, identification processes & controls and performance in relation to the sustainability-related risks and opportunities and targets set.

The amendments are effective for annual reporting periods beginning on or after 1 January 2028, with earlier application permitted.The amendment will be appropriate applied when the circumstances to demand

16

3

Summary of s ignificant accounting policies

The significant accounting policies set out below have been applied consistently to all years presented in these

consolidated financial statements unless otherwise indicated.

4

Contingent liabilities /Litigation settlements

There were no additions to contingent liabilities within the period. Though a few cases came up within the period,

the company does not expect material liabilities to arise thereupon,

There were no litigation settlemets within the period under review.However,the company is in talks for court setlement in some ongoing cases.

Related party transactions

The Group has business relationship with Rapido Ventures Ltd,Abex Express,Mayfair and Transit Support services

Mayfair Hotels and Suites

The wife of ABC's Transport plc founder is the managing director of Mayfair Hotels

Included in"Trade and other Payables" is N1,750,000 due to Mayfair as at 31/12/2025

Transit Supports Services Ltd.

ABC Transport Plc owns 50% equity in Transit Support services Ltd.During the period under review,invoices from Transit Support Services to ABC Transport Plc was N241m while the total amount of invoices from ABC Transport Plc to Transit Support Services was zero.Included in"Trade and other Receavable"is N498m due fromTransit support services as at 31/12/2025

Events occuring after the reporting period

There have not been significant events after the interim period that could alter the current position

7

Debt and equity securities,loan repayments and financing arrangements

There were no issuances or repurchases of debt securities within the period.

Borrowings

GROUP

COMPANY

N'000

N'000

Opening balance (1/1/2025)

1,845,129

1,761,774

New borrowings

796,521

519,000

Repayments

(1,009,015)

(966,282)

Closing balance (31/12/2025)

1,632,635

1,314,492

Current portion

789,025

789,025

Non-current portion

843,610

525,467

Total

1,632,635

1,314,492

8

Dividends

No dividend was declared based on the performance for the period.

9

Financial instruments

An unclaimed dividend pool of N14,653,65373 was transferred in Aug'12 from the custody of Stanbic IBTC Asset Management Ltd for investment to the benefit of the company in line with the provisions of the Investment and Securities Act 2007.Fair value gain of N2.042m earned within the period Jan 2025 -June 2025 is included in the interest income reported in P or L. The sum of N15.9m unclaim dividend has being refunded. Unclaimed dividend fund stands at N34.19m as reported under note 7 (Trade and other payables)

10

Restructurings

There were no restructuring or reversals relating to same within the period under review

11

Changes in estimates/Prior year adjustments

There were no material prior year adjustments due to either errors or misstatements

12

.Impairments/Write-down of inventory to NRV

No impairments were recognized on property, plant and equipment .

There were no write-downs of inventory to net realizable value.

13

Risks and Uncertainties

The Group's principal risk and uncertainty exposures are as enunciated in the 2024 audited financial statement.

14

Key events within the interim period

With no clear guidelines yet on the implementation of the NTA 2025, the company income taxation on the 2025 unaudited accounts has been prepared under the previous law. Application of the provisions of the NTA could result in significant positive impacts for the group as a result of huge unrelieved capital allowances

15

Earnings Per Share

The earnings and weighted average number of ordinary shares used in the report

Group

2025

2024

=N=000

=N=000

Profit attributable to equity Shareholders

788,468

454,020

Weighted number of ordinary shares for the purpose of basic earning per share

2,392,622

2,392,622

Weighted number of ordinary shares for the purpose of dilluted earning per share

2,392,622

2,392,622

17

Company

2025

2024

=N=000

=N=000

Profit attributable to equity Shareholders

402,531

153,921

Weighted number of ordinary shares for the purpose of basic earning per share

2,392,622

2,392,622

Compliance with Rule on Securities Trading

In compliance with Rule 17.15 Disclosure of dealings in issuers' shares, Rulebook of Exchange 2015(Issuers' Rule) ABC Transport Plc maintains a security Trading Policy which guides Directors, Audit Committee members, employees and individuals categorised as insiders as to their dealing in the company shares. the Policy undergoes periodic reviews by the Board and its updated accordingly. the company has made specific inquires of all its Directors and other insiders and the ompany is not aware of any infringement on this policy during the period.

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