Chams Holding Company PlcNSENG: CHAMS

Year end financial statement for 2024

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Chams Holding Company Plc

Unaudited Consolidated and Seperate Financial Statements For the Twelve Months Ended 31 December 2024

Chams Holding Company Plc

Unaudited Consolidated and Seperate Financial Statements for the Twelve Month ended 31st December 2024

Contents

Page

Statement of Profit & Loss & Other Comprehensive Income

3

Statement of Financial Position

4

Statement of Changes in Equity

5-6

Statement of Cash Flow

7

Notes to the Financial Statement

8-12

2

Chams Holding Company Plc and its Subsidiaries

Unaudited Consolidated and Separate Statement of Profit or Loss and other Comprehensive Income for the period ended 31st December , 2024

Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

2024

2023

2023

2024

2023

2023

Notes

Jan-Dec.

Jan-Dec.

Dec.

Jan-Dec.

Jan-Dec.

Dec.

N' 000

N' 000

N' 000

N' 000

N' 000

N' 000

Revenue

1

14,511,007

9,474,362

9,645,967

-

-

Cost of Sales

2

(10,136,470)

(7,342,894)

(7,785,396)

-

-

Gross Profit

4,374,537

2,131,468

1,860,571

-

-

Other operating Income

3

367,850

725,085

705,430

342,794

736,717

769,441

Staff Costs

(1,034,672)

(839,777)

(857,426)

(62,865)

(261,238)

(260,515)

Marketing costs

(274,149)

(228,909)

(215,745)

(207)

(110,319)

(110,845)

Administrative costs

4

(1,540,087)

(978,795)

(1,122,329)

(36,924)

(170,792)

(263,087)

Operating Profit/( Loss)

1,893,480

809,072

370,501

242,798

194,368

134,994

Finance expense

5a

(239,808)

(234,466)

(237,127)

(131,507)

(112,317)

(114,687)

Finance Income

5b

48,107

112,988

115,116

4,921

4,921

Profit/(Loss) before Taxation

1,701,779

687,594

248,490

111,292

86,972

25,228

Taxation credit/ (expense)

(404,488)

(280,002)

(228,270)

(20,033)

(17,625)

(7,694)

Profit/(Loss) after Taxation

1,297,291

407,592

20,220

91,259

69,347

17,534

Loss/ profit attributable to :

Owners of the parent

1,083,238

79,815

77,672

Non- Controlling Interest

214,053

14,085

(57,452)

1,297,291

93,900

20,220

-

Basic (Loss) / earnings per share (kobo)

23.07

4.53

1.65

1.94

0.11

0.37

Diluted (Loss)/ earnings per share (Kobo)

23.07

4.53

1.65

1.94

0.11

0.37

3

Chams Holding Company Plc and its Subsidiaries

Unaudited Consolidated and Separate Statement of Financial Position

As at December 31, 2024

Chams Group

Chams Group

Chams Group

Chams Plc

Chams Plc

Chams Plc

Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

NOTES

DEC 2024

DEC 2023

DEC. 2023

DEC 2024

DEC 2023

DEC. 2023

N'000

N'000

N'000

N'000

N'000

N'000

Assets

Non-current assets

Right of Use of Asset

11,560

9,800

Property,plant and equipment

6

3,296,797

2,319,506

2,323,956

1,632,413

1,624,698

1,625,872

Investment Project

24,275

0

Intangible Asset

7

7,392,722

7,318,094

7,347,772

Investment in Subsidiaries

4,214,991

4,214,992

4,214,991

Other Investments

30,355

Investment in associates

75,000

75,000

75,000

75,000

75,000

75,000

Investment in Joint Ventures

291,426

17,375

Investment securities at fair value through

other Comprehensive Income

100,000

84,454

100,000

100,000

84,454

100,000

10,894,874

10,124,315

9,873,903

6,022,404

5,999,144

6,015,863

CURRENT ASSETS

Inventory & Work In Progress

8

1,048,705

2,729,287

2,778,049

-

Trade and other receivable

9

6,769,487

3,925,536

4,434,907

698,528

694,444

671,360

Prepayments

248,982

Cash and Cash Equivalent

10

2,371,913

1,880,254

1,912,636

85,365

(4,237)

2,681

10,190,105

8,784,059

9,125,592

783,893

690,207

674,041

Total Assets

21,084,979

18,908,374

18,999,495

6,806,297

6,689,352

6,689,904

Liabilities

Non -current liabilities

Long Term Loan

1,989,931

783,243

945,908

1,249,289

696,435

853,345

Deposit for shares

327,283

Deferred Tax

156,454

200,626

156,454

156,454

191,616

156,454

2,473,668

983,869

1,102,362

1,405,743

888,051

1,009,799

Current liabilities

Trade and other Payable

11

7,282,497

6,409,121

7,784,149

1,459,904

1,820,146

1,778,679

Loan & Borrowing

16,996

117,778

15,961

Deposit for Shares

12

216,282

Other Customer deposits

239,397

Defered Income

1,458,153

74,736

Taxation

124,777

297,596

353,903

87,776

129,517

123,850

7,646,671

8,381,152

8,229,784

1,547,680

2,067,442

1,918,490

Total liabilities

10,120,339

9,365,021

9,332,146

2,953,423

2,955,493

2,928,289

NET ASSETS

10,964,640

9,543,353

9,667,349

3,852,874

3,733,859

3,761,615

Statement of Financial Position (Continued)

As at December 31, 2024

Chams Group

Chams Group

Chams Group

Chams Plc

Chams Plc

Chams Plc

Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

DEC 2024

DEC 2023

Dec. 2023

DEC 2024

DEC 2023

Dec. 2023

N'000

N'000

N'000

N'000

N'000

N'000

Issued capital and reserves attributable to

owners of the parent

Share Capital

2,348,030

2,348,030

2,348,030

2,348,030

2,348,030

2,348,030

Share Premium

35,008

35,008

35,008

35,008

35,008

35,008

Revaluation Reserve

4,755,307

4,755,307

4,755,307

1,463,364

1,463,364

1,463,364

Capital Reserve

145,522

145,522

145,522

Retained Earnings

13(i)

(1,114,736)

(2,195,831)

(2,197,974)

6,473

(96,997)

(84,787)

Fairvalue Reserve

(15,546)

(15,546)

Equity Attributable to Owners of the Parent

6,169,131

5,072,490

5,085,893

3,852,874

3,733,859

3,761,615

Non-Controlling Interest

13(ii)

4,795,509

4,470,863

4,581,456

TOTAL EQUITY

10,964,640

9,543,353

9,667,349

3,852,874

3,733,859

3,761,615

The Financial statements on Pages 2 to 5 were approved for issue by the Board of Directors on January 31, 2025 and signed on its behalf by :

____________________

____________________

Mrs. Ifeoma Obasanya

Mayowa Olaniyan

Head, Finance and Account

Group Managing Director

FRC/2022/PRO/NIM/002/191239

FRC/2013/ICAN/00000004330

4

Chams Holding Company Plc

Unaudited Consolidated and Separate Statement of Equity

For the period ended December 2024

Group

Issued Share

Share

Revaluation

Retained

Capital

Fairvalue

Non-controlling

Total

capital

Premium

Reserve

Earnings

Reserve

Reserve

Interest

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

Balance as at 1st January 2023

2,348,030

35,008

4,755,307

(2,275,646)

145,520

(15,546)

4,456,778

9,449,451

Profit /(Loss) for the Period

-

77,672

(57,452)

20,220

Negative retained earnings written off

-

Impact of balance sheet restructuring

-

Other Comprehensive Income

-

-

-

-

Fairvalue loss in the year

15,546

15,546

Revaluation gain on intangible asset

-

Total Comprehensive Profit

-

-

-

77,672

-

15,546

(57,452)

35,766

Transactions with owners recorded directly in equity:

-

-

-

-

Balance Adjustment on Beginning Balance Equity

-

-

Shares disposed during the year

-

-

-

182,130

182,130

Dividend

-

Balance as at 31 December 2023

2,348,030

35,008

4,755,307

(2,197,974)

145,520

-

4,581,456

9,667,347

Group

Issued Share

Share

Revaluation

Retained

Capital

Fairvalue

Non-controlling

Total

capital

Premium

Reserve

Earnings

Reserve

Reserve

Interest

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

Balance as at 1st January 2024

2,348,030

35,008

4,755,307

(2,197,974)

145,522

-

4,581,456

9,667,349

Profit /(Loss) for the Period

-

1,083,238

214,053

1,297,291

Other Comprehensive Income

-

-

-

Fairvalue loss in the year

-

Revaluation gain on intangible asset

-

Total Comprehensive income

-

-

-

1,083,238

-

-

214,053

1,297,291

Prior period adjustments

-

Transactions with owners recorded directly in equity:

-

-

-

-

Balance Adjustment on Beginning Balance Equity

-

-

-

-

-

-

-

-

-

Balance as at December 31, 2024

2,348,030

35,008

4,755,307

(1,114,736)

145,522

-

4,795,509

10,964,640

5

Chams Holding Company Plc

Unaudited Consolidated and Separate Statement of Equity

For the period ended December 31 2024

Company

Issued Share

Share Premium

Revaluation

Retained Earnings

Fairvalue

Total

capital

Reserve

Reserve

N'000

N'000

N'000

N'000

N'000

N'000

Balance as at 1st January 2023

2,348,030

35,008

1,463,364

(102,321)

(15,546)

3,728,535

Profit /(Loss) for the Period

Other Comprehensive Income

Fairvalue loss in the year

Revaluation gain on intangible asset

Total Comprehensive Profit

Transactions with owners recorded directly in equity: Balance Adjustment on Beginning Balance Equity

Balance as at 31 December 2023

-

-

-

-

17,534

17,534

15,546

15,546

-

-

-

-

17,534

15,546

33,080

-

-

-

-

-

-

-

-

-

-

-

2,348,030

35,008

1,463,364

(84,787)

-

3,761,615

Company

Issued Share

Share Premium

Revaluation

Retained Earnings

Fairvalue

Total

capital

Reserve

Reserve

N'000

N'000

N'000

N'000

N'000

N'000

Balance as at 1st January 2024

2,348,030

35,008

1,463,364

(84,787)

-

3,761,615

Profit /(Loss) for the Period

-

91,259

91,259

Other Comprehensive Income

-

-

-

Revenue Reserve

-

Total Comprehensive Loss

-

-

-

91,259

91,259

Transactions with owners recorded directly in equity:

-

-

-

-

-

-

-

-

-

-

-

Balance as at December 31, 2024

2,348,030

35,008

1,463,364

6,473

-

3,852,874

6

Chams Holding Company Plc

Unaudited Consolidated and Separate Statement of Cashflows for the period ended December 31, 2024

Group

Copany

Unaudited

Audited Dec

Unaudited

Audited Dec

Dec 2024

2023

Dec 2024

2023

N000

N000

N000

N000

CASH FLOW FROM OPERATING ACTIVITIES

Profit after tax

1,297,291

248,490

91,259

25,228

Depreciation and amortisation

124,801

199,452

46,316

90,027

Net finance cost

(191,700)

122,011

131,507

109,766

Impairment charge on assets

90,943

(67,032)

Ajustments to asset values

13,181

2,422

Gain on asset disposal

(452,108)

(451,679)

Prepaid expenses

1,090,624

Taxation expense

372,542

11,235

Changes in working capital

Changes in inventories

(2,102,221)

(1,997,472)

Changes in receivables

(580,664)

(575,575)

(198,874)

(142,242)

Changes in payables

501,652

2,920,196

(360,242)

26,717

Tax paid

(124,777)

(35,187)

(87,776)

(4,302)

Net cash flow from operating activities

387,548

533,931

(366,575)

(411,095)

CASH FLOW FROM INVESTING ACTIVITIES

Payment for fixed assets

(1,128,423)

(486,218)

(3,114)

(1,187)

Disposal of fixed assets

3,000

1,738

3,000

53

Disposal of investments

636,629

636,629

Acquisition of investments

(30,355)

Interest received

115,116

4,921

Net cash flow from investing activities

(1,155,778)

267,265

(114)

640,416

CASH FLOW FROM FINANCING ACTIVITIES

Loan/overdraft received

2,310,867

693,969

1,500,000

693,969

Loan repaid

(998,930)

(1,247,818)

(977,123)

(939,306)

Interest paid

(67,543)

(57,543)

Net cash flow from financing activities

1,244,394

(553,849)

465,334

(245,337)

CHANGES IN CASH AND CASH EQUIVALENTS

476,164

247,347

98,645

(16,016)

Cash and cash equivalents at 1 January 2024

1,895,749

1,648,402

(13,280)

2,736

Cash and cash equivalents at 31 December 2024

2,371,913

1,895,749

85,365

(13,280)

7

Chams Holding Company Plc and its Subsidiaries

NOTES TO UNAUDITED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS for the period ended December 31, 2024

  1. Revenue
    HoldCo Operations
    Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation
  2. COST OF SALES HoldCo Operations Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation Intra group transaction
  3. OTHER INCOME HoldCo Operations Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation
  4. ADMINISTRATIVE EXPENSES HoldCo Operations
    Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation Intra group transaction
  5. FINANCE EXPENSE/INCOME

a Finance expnses

N '000

-

7,311,337

6,484,838

239,673

475,160

14,511,008

-

4,884,870

4,870,224

138,472

242,904

10,136,470

10,136,470

342,794

17,424

1,568

6,063

367,850

99,996

408,149

715,970

167,037

148,935

1,540,087

1,540,087

HoldCo Operations

131,507

Printer Solutions and Access

21,079

Card personalisation & Printing

87,222

Payment Systems Solutions

Agency banking, mobile money operation

239,808

b

Finance Income

HoldCo Operations

Printer Solutions and Access

-

Card personalisation & Printing

(45,400)

Payment Systems Solutions

-

Agency banking, mobile money operation

(2,707)

Interest on Fixed Deposit

(48,108)

Net

191,700

8

NOTES TO UNAUDITED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS for the period ended December 31st, 2024 (Continued)

  1. PROPERTY, PLANT & EQUIPMENT HoldCo Operations
    Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation
  2. Intangible Asset HoldCo Operations Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation
  3. INVENTORIES/ WORK IN PROGRESS HoldCo Operations
    Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation
  4. RECEIVABLES
    TRADE & OTHER RECEIVABLES HoldCo Operations
    Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation
  1. Cash and Cash Equivalents
    Verification. Data Management Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation
  2. Trade & Other Payables HoldCo Operations Printer Solutions and Access Card personalisation & Printing Payment Systems Solutions
    Agency banking, mobile money operation Other Payables and accruals
  3. Deposit for Share Card Centre Cham Switch ChamsMobile

13

  1. Parent
    Retained Earnings Attributable to the Parent B/F Attributable to the Parent for the Period Total Retained Earnings for the Group

( ii) Non Controlling Interest

Non Controlling Interest B/F

Profit/ Loss Attributable to NCI

Total NCI

1,632,413

81,810

1,545,434

24,997

12,144

3,296,798

-

3,928

58,228

4,360,693

2,969,873

7,392,722

-

695,698

328,483

24,523

-

1,048,704

698,528

3,552,737

1,164,887

1,194,627

158,708

6,769,487

85,365

251,091

912,991

91,762

1,030,704

2,371,913

1,459,904

2,650,526

2,188,282

357,235

183,356

406,655

7,245,958

133,931

193,352

-

327,283

(2,197,974)

1,083,238

(1,114,736)

4,581,456

214,053

4,795,509

9

Chams Holding Company Plc and its Subsidiaries Notes to Group Financial Statement

for the period ended December 31, 2024

16 Earnings per share

N'000

N'000

N'000

N'000

N'000

N'000

YTD Dec

YTD Dec

Audited 2023

YTD Dec

YTD Dec

Audited 2023

2024

2023

31 Dec

2024

2023

31 Dec

Profit for the year used in basic EPS

1,083,238

93,900

20,220

91,259

5,324

17,534

Profit used in diluted EPS

1,083,238

93,900

20,220

91,259

5,324

17,534

Weighted average number of

shares used in basic EPS

4,696,060

4,696,060

4,696,060

4,696,060

4,696,060

4,696,060

Weighted average number of

shares used in diluted EPS

4,696,060

4,696,060

4,696,060

4,696,060

4,696,060

4,696,060

10

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