Eterna Plc |
IFRS Financial Statements for Third Quarter |
and period ended 30th September 2025 |
Consolidated statement of profit or loss and other comprehensive income for the period ended 30th September 2025
2025 |
N'000 |
2024 |
N'000 |
2025 |
N'000 |
2024 |
N'000 |
Revenue | 1 |
Cost of sales | 2.1 (202,907,657) |
Gross Profit | 9,935,739 |
Selling and distribution expenses | 2.2 |
General and administrative expenses | 2.3 |
Other income | 6 |
30 September | 30 September | 30 September | 30 September | |||||
Note | ||||||||
212,843,396 | 233,754,267 | 212,843,396 | 233,754,267 | |||||
(203,625,913) | (203,044,498) | (203,727,594) | ||||||
30,128,354 | 9,798,898 | 30,026,673 | ||||||
(136,544) | (285,574) | (127,124) | (285,512) | |||||
(7,231,470) | (6,412,143) | (6,844,477) | (6,109,798) | |||||
624,884 | 69,251 | 597,635 | 54,446 | |||||
Operating profit | 3,192,609 | 23,499,887 | 3,424,932 | 23,685,809 | ||||
12,249 | 3,524 | 12,249 | 3,524 | |||||
149,852 | (16,739,229) | 149,852 | (16,739,229) | |||||
(1,957,886) | (5,084,644) | (1,856,733) | (5,082,372) | |||||
Profit before tax | 1,396,824 | 1,679,538 | 1,730,300 | 1,867,733 | ||||
(1,070,942) | (1,529,398) | (1,070,942) | (1,529,324) | |||||
Profit for the period | 325,882 | 150,139 | 659,358 | 338,408 |
Attributable to: |
- Owners of the parent |
- Non-controlling interests |
325,882 |
- |
325,882 |
150,139 |
- |
150,139 |
659,358 |
- |
659,358 |
338,408 |
- |
338,408 |
Finance income | 7 |
Net foreign exchange Gain/(loss) | 7.1 |
Finance cost | 8 |
Taxation | 9 |
Attributable to: |
- Owners of the parent |
- Non-controlling interests |
Total comprehensive Income for the period |
325,882 |
- |
325,882 |
150,141 |
(2) |
150,139 |
659,358 |
- |
659,358 |
338,408 |
- |
338,408 |
Earnings per share: | |
Basic | 30 |
Diluted | 30 |
0.25 |
0.25 |
0.12 |
0.12 |
0.51 |
0.51 |
0.26 |
0.26 |
Consolidated statement of profit or loss and other comprehensive income for Third quarter ended 30th September 2025
Group | |
Q3 2025 | Q3 2024 |
Revenue | 10 |
55,188,527 86,265,536 55,188,527 86,227,902
Cost of sales 11.1 (52,156,046) (73,593,347) (52,240,528) (73,585,746)
Gross Profit 3,032,481 12,672,189 2,947,999 12,642,155Selling and distribution expenses | 11.2 |
(29,328) (103,887) (24,407) (103,887)
General and administrative expenses | 11.3 |
(2,523,538) (2,020,160) (2,383,246) (1,910,206)
Other income | 15 |
50,365 29,209 44,366 18,188
Operating profit 529,980 10,577,351 584,712 10,646,250Finance income | 16 |
12,222 3,441 12,222 14
Net foreign exchange gain/(loss) | 16.2 |
136,826 (2,278,771) 136,826 (2,278,771)
Net finance cost | 17 |
(850,631) (3,051,887) (799,220) (3,049,614)
(Loss)/profit before tax (171,603) 5,250,135 (65,460) 5,317,880Taxation | 18 |
(76,330) (858,754) (76,330) (1,596,324)
(Loss)/profit for the quarter (247,933) 4,391,380 (141,790) 3,721,556Attributable to: |
- Owners of the parent |
- Non-controlling interests |
(247,933) |
- |
(247,933) |
4,391,380 |
- |
4,391,380 |
(141,790) |
- |
(141,790) |
3,721,556 |
- |
3,721,556 |
4,391,380 |
- |
4,391,380 |
(141,790) |
- |
(141,790) |
3,721,556 |
- |
3,721,556 |
Attributable to: | |
- Owners of the parent | (247,933) |
- Non-controlling interests | - |
Total comprehensive (Loss)/income for the quarter | (247,933) |
Earnings per share: | |
Basic | 30 |
Diluted | 30 |
(0.19) |
(0.19) |
3.37 |
3.37 |
(0.11) |
(0.11) |
2.85 |
2.85 |
Consolidated statement of financial position
Group | Company | ||
Note 30 September | 31 December | 30 September | 31 December |
2025 | 2024 | 2025 | 2024 |
N'000 | N'000 | N'000 | N'000 |
Non-current assets | |||||
Property, plant and equipment | 19 | 14,307,958 | 15,034,790 | 12,954,519 | 13,843,727 |
Intangible assets | 19 | - | 124 | - | 124 |
Right of Use Assets | 20 | 1,440,062 | 1,584,044 | 1,440,062 | 1,584,044 |
Other investments | 22 | 575,382 | 575,382 | 575,382 | 575,382 |
Investment in subsidiaries | 22 | - | - | 50,990 | 50,990 |
Deferred Tax Asset | 23 | 820,303 | 808,358 | 728,039 | 728,039 |
17,143,705 | 18,002,697 | 15,748,992 | 16,782,305 | ||
Current assets | |||||
Inventory | 23 | 22,262,879 | 23,669,496 | 22,203,915 | 23,599,463 |
Trade and other receivables | 24 | 16,078,065 | 19,546,784 | 18,533,217 | 21,422,722 |
Prepayments | 20 | 383,561 | 265,295 | 364,917 | 251,146 |
Cash and bank balances | 25 | 2,270,874 | 5,938,512 | 2,212,999 | 5,874,667 |
40,995,378 | 49,420,087 | 43,315,049 | 51,147,998 | ||
Borrowings | 26 10,125,191 11,733,093 |
Decomissioning liability | 27 294,234 250,032 10,419,425 11,983,125 |
10,125,191 11,733,093
248,482 227,608
10,373,672 11,960,701 | |||||
Current liabilities | |||||
Trade and other payables | 28 | 12,882,511 | 7,275,582 | 12,865,105 | 7,151,813 |
Borrowings | 26 | 28,523,990 | 41,641,686 | 28,523,990 | 41,641,686 |
Tax payable | 9 | 1,136,802 | 1,671,917 | 1,131,002 | 1,665,189 |
42,543,303 | 50,589,186 | 42,520,096 | 50,458,689 | ||
Equity attributable to shareholders | |||||
Share capital | 29 | 652,072 | 652,072 | 652,072 | 652,072 |
Share premium | 29 | 5,796,053 | 5,796,053 | 5,796,053 | 5,796,053 |
Retained earnings | (1,271,768) | (1,597,650) | (277,855) | (937,212) | |
5,176,357 | 4,850,475 | 6,170,271 | 5,510,913 | ||||
Non -controlling interest | (4) | (2) | - | - | |||
Total equity | 5,176,353 | 4,850,472 | 6,170,271 | 5,510,912 | |||
Total equity and liabilities | 58,139,083 | 67,422,785 | 59,064,041 | 67,930,303 |
The financial statements were approved by the board of directors and authorised for issue on 29th October , 2025. They were signed on its behalf by:
Olumide Adeosun |
Managing Director/Chief Executive Officer |
FRC/2020/PRO/DIR/003/00000020356 |
Aliu Kamiyo |
Chief Financial Officer |
FRC/2022/PRO/ICAN/001/00000023899 |
Balance at 1st January 2024 |
Comprehensive income/(loss) |
Profit for the year |
Other Comprehensive income |
Total comprehensive Income |
Transaction with owners |
Dividend paid |
At 31 December 2024 |
652,072 | 5,796,053 | (2,946,273) | - | 3,501,852 | (2) | 3,501,850 |
- | - | 1,348,624 | - | 1,348,624 | (2) | 1,348,622 |
- | - | 1,348,624 | - | 1,348,624 | (2) | 1,348,622 |
- | - | - | ||||
652,072 | 5,796,053 | - (1,597,650) | - | - 4,850,475 | - (4) | - 4,850,471 |
Consolidated statement of changes in equity
Attributable to equity holders | ||||||
of the parent | ||||||
Group | ||||||
Share Capital | Share premium | Retained Earnings | Other Reserves | Total amount attributable to equity holders | Non -controlling interest | Total Equity |
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 |
Company | ||||
Share | Share | Retained | Other | Total |
capital | premium | earnings | Reserves | Equity |
N'000 | N'000 | N'000 | N'000 | N'000 |
Balance at 1 January 2024 |
Comprehensive income |
Profit for the year |
Other Comprehensive income |
Total comprehensive Income |
652,072 | 5,796,053 | (2,620,571) | - | 3,827,554 |
- | ||||
1,683,359 | 1,683,359 | |||
- | ||||
- | - | 1,683,359 | - | 1,683,359 |
Balance at 1 January 2025 |
Comprehensive income |
Profit for the period |
Other Comprehensive income |
Total comprehensive Income |
652,072 | 5,796,053 | (1,597,650) |
4,850,475 | (4) | 4,850,471 |
- | - | 325,882 |
325,882 | - | 325,882 |
- | - | 325,882 | - | 325,882 | - | 325,882 |
Transaction with owners |
Dividend Paid |
At 30th September 2025 |
- | - | - |
- |
- | - | - |
- | - | - |
652,072 | 5,796,053 | (1,271,768) | - | 5,176,357 | (4) | 5,176,353 |
Transaction with owners |
Dividend paid |
At 31 December 2024 |
- | - | - |
- |
652,072 | 5,796,053 | (937,212) | - 5,510,913 |
652,072 | 5,796,053 | (937,212) |
Balance at 1 January 2025 |
Comprehensive income |
Profit for the period |
Other Comprehensive Income |
5,510,913 |
- |
659,358 |
659,358
- Actuarial gains net of tax |
Total comprehensive Income |
- | - | - | - | - |
- | - | 659,358 | - | 659,358 |
Transaction with owners |
Dividend Paid |
At 30th September 2025 |
- | - | - |
- |
652,072 | 5,796,053 | (277,855) | - 6,170,270 |
Consolidated statement of cash flows
Consolidated Financial Statements for the period ended 30th September 2025Note | Group | Company |
30 September |
2025 |
N'000 |
31 December |
2024 |
N'000 |
30 September |
2025 |
N'000 |
31 December |
2024 |
N'000 |
CASH FLOWS FROM OPERATING ACTIVITIES: |
Profit for the year |
325,882 1,348,624 659,358 1,683,359
Adjustments for non-cash items: |
Depreciation |
Amortisation of Intangible Assets |
Amortisation of prepayments |
Amortisation of right of use assets |
Reclassification of right of use assets |
Impairment Reversal on Credit loss |
Loss/(gain) on disposals of property, plant and equipment |
Property, plant & equipment and Intangible assets Written off |
Finance Cost on long and short term trading |
Finance Income |
Finance cost on Trading |
Exchange gain/(losses) on borrowings |
Allowance for impairment |
Income tax expense |
Change in the unwinding effects on Decommissioning cost |
19 | 878,429 | 962,821 | 792,343 | 884,812 |
19 | - | 18,547 | - | 18,547 |
21 | 58,750 | 115,163 | 58,750 | 115,163 |
20 | 273,982 | 411,777 | 273,982 | 411,777 |
20 | - | 100,000 | - | 100,000 |
- | (200,445) | - | (200,445) | |
2.3 | 195,899 | 4,167 | 195,899 | 4,167 |
19 | 458,427 | 764 | 457,484 | 535 |
8 | 2,096,805 | 8,430,756 | 1,995,500 | 8,426,907 |
7 | (12,249) | (5,012) | (12,249) | (5,012) |
26 | (574,131) | 1,376,425 | (472,826) | 1,380,274 |
- | 12,546,181 | - | 12,546,181 | |
2.3 | - | 2,588,127 | - | 2,588,127 |
9 | 1,070,942 | 3,135,222 | 1,070,942 | 3,131,915 |
27 | 26,825 | 36,714 | 20,874 | 32,987 |
4,799,560 | 30,869,831 | 5,040,056 | 31,119,295 |
Changes in working capital: |
Decrease/(increase) in inventory |
Decrease/(increase) in debtors |
(Increase) in prepayment |
Increase/(decrease) in payables |
23 | 1,406,617 | 3,572,288 | 1,395,548 | 3,568,205 |
24 | 2,324,568 | (13,829,257) | 1,773,704 | (14,113,062) |
21 | (177,016) | (61,261) | (172,521) | (57,012) |
28 | 5,606,929 | (4,443,632) | 5,713,292 | (5,082,914) |
9,161,097 | (14,761,861) | 8,710,023 | (15,684,783) |
Cash flows generated from operating activities 13,960,657 16,107,971 13,750,079 15,434,513
Tax paid 9 (485,264) (361,635) (484,336) (325,732)
19 | 101,248 | 50,926 | 101,248 |
19 | (819,692) | (3,887,742) | (570,356) |
19 | - | (124) | - |
20 | (130,000) | (439,456) | (130,000) |
24 | 23,358 | (120,301) | (4,992) |
7 | 12,249.49 | 5,012 | 12,249.49 |
(812,836) | (4,391,685) | (591,851) |
Net cash generated from operating activities 13,475,393 15,746,336 13,265,743 15,108,780 CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of property, plant and equipment |
Purchase of property, plant and equipment |
Purchase of Intangible assets |
Payments for Right of use assets |
Loan to JUHI-2 |
Interest received |
Net cash used in investing activities |
25 | 338,399 | 1,635,936 | 280,525 | 1,572,091 |
50,926
(3,304,303)
-(439,456)
(120,301)
5,012
(3,808,123)Proceeds from borrowings |
Repayment of borrowings |
Repayment of Interest |
Dividend Paid |
26 | 74,814,921 |
26 | (87,170,418) |
26 | (1,522,674) |
- |
192,627,084 |
(199,330,985) |
(9,807,181) |
- |
74,814,921 |
(87,170,418) |
(1,522,674) |
- |
192,627,084 |
(199,330,985) |
(9,807,181) |
- |
Net cash (used in)/generated from financing activities | (13,878,171) | (16,511,082) | (13,878,172) | (16,511,082) | |||
Net Change in Cash and Cash Equivalents | (1,215,613) | (5,156,431) | (1,204,280) | (5,210,425) | |||
Cash & Cash Equivalents at the beginning of the year | 1,635,936 | 6,895,233 | 1,572,091 | 6,885,278 | |||
Effect of foreign exchange rate changes | (81,924) | (102,866) | (87,286) | (102,762) | |||
Cash & Cash Equivalents as at 30th September 2025 |
Company | |
2025 | 2024 |
178,179,943 | 203,176,185 |
32,528,351 | 28,671,326 |
2,135,103 | 1,906,756 |
212,843,396 | 233,754,267 |
178,179,943 | 203,176,185 |
32,528,351 | 28,671,326 |
2,135,103 | 1,906,756 |
212,843,396 | 233,754,267 |
2 | Expenses by nature |
Group | |
2025 | 2024 |
Company | |
2025 | 2024 |
2.1 | Cost of sales |
Fuel | |
Lubricants | |
Others |
175,541,507 | 179,506,583 |
24,722,307 | 22,460,685 |
2,643,842 | 1,658,645 |
202,907,657 | 203,625,913 |
175,541,507 | 179,506,583 |
24,859,148 | 22,562,366 |
2,643,842 | 1,658,645 |
203,044,498 | 203,727,594 |
Group | |
2025 | 2024 |
Company | |
2025 | 2024 |
2.2 | Selling and Distribution expenses |
Marketing and sales commission | |
Sampling and analysis |
127,116 | 285,274 | 127,116 | 285,261 | |
9,428 | 299 | 8.00 | 251 | |
136,544 | 285,574 | 127,124 | 285,512 |
Notes to the consolidated financial statements
N'000 | N'000 N'000 N'000 |
1 | Revenue |
Fuel | |
Lubricants | |
Others |
Group | |
2025 | 2024 |
2.3 | General and Administration expenses |
Staff costs | |
Legal and Professional fees | |
Depreciation | |
Employee welfare | |
Travelling & Entertainment | |
Rental Expenses | |
Repairs and Maintenance | |
Business Development | |
Other expenses | |
Stationery and communication | |
Bank Charges | |
Insurance, medical and security | |
Licence fees | |
Directors remuneration | |
Amortisation on Prepayments | |
Pension costs | |
Auditors' remuneration | |
Amortisation of Intangible assets | |
Loss on disposal of property, plant and equipment | |
Board Expenses | |
Training and staff Development |
Group | |
2025 | 2024 |
Company | |
2025 | 2024 |
1,984,550 | 1,353,047 |
263,907 | 959,198 |
878,429 | 697,679 |
151,958 | 10,390 |
320,629 | 103,416 |
73,504 | 352,013 |
1,066,450 | 971,429 |
153,002 | 64,125 |
166,463 | 119,463 |
50,164 | 48,979 |
138,919 | 614,532 |
544,339 | 336,691 |
521,186 | 368,554 |
147,500 | 106,498 |
58,750 | 91,065 |
67,593 | 49,088 |
45,000 | 45,000 |
- | 15,345 |
195,899 | 4,167 |
69,330 | 49,566 |
56,914 | 51,897 |
7,231,470 | 6,412,143 |
1,864,852 | 1,250,912 |
253,464 | 956,134 |
792,343 | 643,668 |
150,896 | 9,940 |
307,064 | 99,601 |
73,504 | 352,013 |
974,778 | 868,266 |
152,292 | 64,125 |
154,282 | 108,796 |
46,963 | 41,639 |
138,767 | 614,462 |
533,215 | 326,604 |
502,370 | 367,293 |
147,500 | 106,498 |
58,750 | 91,065 |
61,758 | 44,588 |
37,500 | 37,500 |
- | 15,345 |
195,899 | 4,167 |
69,330 | 55,286 |
51,969 | 51,897 |
6,844,477 | 6,109,798 |
Company | |
2025 | 2024 |
203,044,498 | 24,522,367 |
127,124 | 33,491 |
6,844,477 | 1,035,953 |
210,016,099 | 25,591,811 |
3 | Cost of sales |
Selling and Distribution expenses | |
General and Administration expenses |
Group | |
2025 | 2024 |
202,907,657 | 24,522,387 |
136,544 | 33,491 |
7,231,470 | 1,103,056 |
210,275,671 | 25,658,934 |
4 | Employees' remuneration and numbers |
Group | |
2025 | 2024 |
Number | Number |
Company | |
2025 | 2024 |
Number | Number |
Administration |
Operations |
Sales and marketing |
47 | 15 |
40 | 68 |
58 | 25 |
145 | 108 |
46 | 15 |
25 | 54 |
56 | 25 |
127 | 94 |
N'000 | N'000 N'000 N'000 |
Senior Management |
Management |
Senior staff |
13 | 11 |
12 | 9 |
120 | 88 |
145 | 108 |
12 | 10 |
12 | 9 |
103 | 75 |
127 | 94 |
The number of employees, other than directors, who earned over N3,000,000 in the year: | ||
Group | ||
2025 | 2024 | |
Number | Number | |
N3,000,001 - N4,000,000 | - | 32 |
N4,000,001 - N5,000,000 | 82 | 19 |
Above 5,000,000 | 63 | 57 |
145 | 108 | |
Company | |
2025 | 2024 |
Number | Number |
- | 26 |
73 | 14 |
54 | 54 |
127 | 94 |
The total employee benefits expense in the year comprise the following: | ||
Group | ||
2025 | 2024 | |
N'000 | N'000 | |
Salaries and wages | 1,984,550 | 1,353,047 |
Employee welfare | 151,958 | 10,390 |
Pension Costs | 67,593 | 49,088 |
2,204,102 | 1,412,526 | |
Company | |
2025 | 2024 |
N'000 | N'000 |
1,864,852 | 1,250,912 |
150,896 | 9,940 |
61,758 | 44,588 |
2,077,506 | 1,305,439 |
5 | Directors' remuneration |
Fees for services as a director |
Other emoluments as management |
Group | |
2025 | 2024 |
147,500 | 106,498 |
54,464 | 50,705 |
201,964 | 157,203 |
Company | |
2025 | 2024 |
147,500 | 106,498 |
54,464 | 50,705 |
201,964 | 157,203 |
18,000 | 18,000 |
18,000 | 18,000 |
The emoluments of the chairman of the board (excluding pension contributions)
The table below shows the numbers of directors of the company whose remuneration excluding pension contributions fell within the bands stated.
Less than N500,001 |
N500,001 - N3,000,000 |
N8,000,001 - N12,000,000 |
More than N12,000,000 |
Number | Number |
2025 | 2024 |
- | - |
- | - |
6 | 5 |
4 | 3 |
10 | 8 |
Number | Number |
2025 | 2024 |
- | - |
- | - |
6 | 5 |
4 | 3 |
10 | 8 |
6 | Other income |
Other income |
Rent income |
Group | |
2025 | 2024 |
509,510 | 24,996 |
115,375 | 44,255 |
624,884 | 69,251 |
Company | |
2025 | 2024 |
482,260 | 10,191 |
115,375 | 44,255 |
597,635 | 54,446 |
7 | Finance income |
Group | |
2025 | 2024 |
Company | |
2025 | 2024 |
12,249 | 3,524 |
12,249 | 3,524 |
12,249 | 3,524 |
12,249.49 | 3,524 |
Interest income on short-term bank deposits
7.1 | Net Foreign Exchange (Loss)/Gain |
Foreign exchange (loss)/gain |
149,852 | (16,739,229) |
149,852 | (16,739,229) |
149,851.64 | (16,739,229) |
149,852 | (16,739,229) |
N'000 | N'000 N'000 N'000 |
8 | Finance cost |
Group | |
2025 | 2024 |
Company | |
2025 | 2024 |
Interest on Loan |
Interest on bank overdrafts |
Accretion charge |
1,931,061 | 4,800,896 |
- | 260,107 |
26,825 | 23,642 |
1,957,886 | 5,084,644 |
1,835,859 | 4,800,896 |
- | 260,107 |
20,874 | 21,369 |
1,856,733 | 5,082,372 |
This amount represents interest charges on various short term loans, overdrafts and trade finances.
9 | Taxation |
Group | |
2025 | 2024 |
Company | |
2025 | 2024 |
Current taxes on income for the year |
Tax expense on Income statement |
Deferred Tax |
Total tax expense |
1,070,942 | 1,261,398 |
1,070,942 | 1,261,398 |
- | 268,000 |
1,070,942 | 1,529,398 |
1,070,942 | 1,261,324 |
1,070,942 | 1,261,324 |
- | 268,000 |
1,070,942 | 1,529,324 |
Opening balance |
Tax paid |
Tax paid |
WHT utilised |
Income tax charge |
Closing balance |
Group | |
2025 | Dec'2024 |
1,671,917 | 977,483 |
(460,891) | (361,635) |
(24,373) | - |
(1,120,794) | (591,683) |
1,070,942 | 1,647,752 |
1,136,802 | 1,671,917 |
Company | |
2025 | Dec'2024 |
1,665,189 | 977,475 |
(459,964) | (325,732) |
(24,373) | - |
(1,120,794) | (591,683) |
1,070,942 | 1,605,130 |
1,131,002 | 1,665,189 |
Current |
Non-current |
1,136,802 | 1,671,917 |
- | - |
1,136,802 | 1,671,917 |
1,131,002 | 1,665,189 |
- | - |
1,131,002 | 1,665,189 |
Corporation tax is calculated at 30 percent of the taxable profit for the year. The charge for taxation on these financial statements is based on the provisions of the Companies Income Tax Act CAP C21 LFN 2004 and Finance Act 2022. The Tertiary Education tax of 3 per cent is based on the provisions of the Tertiary Education Trust Fund Act 2011 and Finance Act 2022.
10 | Revenue |
Fuel | |
Lubricants | |
Others |
44,730,848 | 74,688,273 |
9,519,679 | 11,421,753 |
938,000 | 117,876 |
- | |
55,188,527 | 86,227,902 |
11 | Expenses |
Group | |
Q3 2025 | Q3 2024 |
Company | |
Q3 2025 | Q3 2024 |
11.1 | Cost of sales |
Fuel. | |
Lubricants. | |
Others. |
43,835,876 | 64,808,137 |
7,100,851 | 8,680,895 |
1,219,319 | 104,315 |
52,156,046 | 73,593,347 |
43,835,876 | 64,808,137 |
7,185,333 | 8,673,294 |
1,219,319 | 104,315 |
52,240,528 | 73,585,746 |
Group | |
Q3 2025 | Q3 2024 |
Company | |
Q3 2025 | Q3 2024 |
11.2 | Selling and Distribution expenses |
Marketing and sales commission | |
Sampling and analysis |
24,407 | 103,856 | 24,407 | 103,856 | |
4,921 | 31 | - | 31 | |
29,328 | 103,887 | 24,407 | 103,887 |
Company | |
Q3 2025 | Q3 2024 |
650,338 | 474,905 |
170,746 | 99,133 |
320,586 | 236,752 |
49,471 | 3,929 |
99,193 | 53,237 |
102,546 | 138,117 |
406,974 | 314,540 |
30,437 | 15,384 |
51,109 | 46,410 |
25,735 | 13,429 |
39,249 | 231,612 |
151,229 | 159,297 |
173,776 | 93,246 |
76,667 | 35,500 |
29,375 | 30,355 |
23,253 | 19,328 |
15,000 | 15,000 |
- | 4,803 |
44,752 | 11,718 |
47,221 | 13,917 |
3,000 | - |
12,881 | 9,548 |
26,825 | - |
2,523,538 | 2,020,160 |
608,301 | 437,761 |
164,440 | 96,069 |
288,405 | 221,502 |
49,043 | 3,760 |
95,720 | 51,612 |
102,546 | 138,117 |
378,139 | 283,617 |
29,927 | 15,384 |
47,516 | 43,043 |
23,410 | 12,967 |
39,219 | 231,597 |
147,460 | 157,817 |
165,895 | 92,730 |
76,667 | 35,500 |
29,375 | 30,355 |
21,103 | 17,638 |
12,500 | 12,500 |
- | 4,803 |
44,752 | (30) |
47,221 | 13,917 |
3,000 | - |
8,606 | 9,548 |
20,874.00 | - |
2,383,246 | 1,910,206 |
N'000 |
Group Company Q3 2025 Q3 2024 Q3 2025 Q3 2024 |
44,730,848 | 74,688,273 |
9,519,679 | 11,459,387 |
938,000 | 117,876 |
55,188,527 | 86,265,536 |
11.3 | General and Administration expenses |
Staff costs | |
Legal and Professional fees | |
Depreciation | |
Employee welfare | |
Travelling & Entertainment | |
Rental Expenses | |
Repairs and Maintenance | |
Business Development | |
Other expenses | |
Stationery and communication | |
Bank Charges | |
Insurance, medical and security | |
Licence fees | |
Directors remuneration | |
Amortisation on Prepayments | |
Pension costs | |
Auditors' remuneration | |
Amortisation of Intangible assets | |
Loss on disposal of property, plant and equipment | |
Board Expenses | |
Donations and gifts | |
Training and staff Development | |
Accretion Charge |
Group | |
Q3 2025 | Q3 2024 |
Group | |
Q3 2025 | Q3 2024 |
52,156,046 | 72,876,912 |
29,328 | 104,103 |
2,523,538 | 2,079,743 |
54,708,912 | 75,060,758 |
Group | |
Q3 2025 | Q3 2024 |
Number | Number |
Expenses by function
12 | Cost of sales |
Selling and Distribution expenses | |
General and Administration expenses |
13 | Employees' remuneration and numbers |
Administration |
Operations |
Sales and marketing |
Senior Management |
Management |
Senior staff |
15 | 28 |
68 | 37 |
25 | 18 |
108 | 83 |
11 | 12 |
9 | 9 |
88 | 62 |
108 | 83 |
The number of employees, other than directors, who earned over N3,000,000 in the year:
N'000
Company | |
Q3 2025 | Q3 2024 |
52,240,528 | 72,868,968 |
24,407 | 104,090 |
2,383,246 | 1,977,331 |
54,648,181 | 74,950,389 |
Company | |
Q3 2025 | Q3 2024 |
Number | Number |
15 | 27 |
54 | 30 |
25 | 18 |
94 | 75 |
10 | 11 |
9 | 8 |
75 | 56 |
94 | 75 |
Group Q3 2025 | Q3 2024 | Company Q3 2025 | Q3 2024 | ||
Number | Number | Number | Number | ||
N3,000,001 - N4,000,000 | 32 | 25 | 26 | 22 | |
N4,000,001 - N5,000,000 | 19 | 10 | 14 | 6 | |
Above 5,000,000 | 57 | 48 | 54 | 47 |
108 | 83 |
94 | 75 |
The total employee benefits expense in the year comprise the following:
Salaries and wages |
Employee welfare |
Pension Costs |
Group | |
Q3 2025 | Q3 2024 |
N'000 | N'000 |
650,338 | 474,905 |
49,471 | 3,929 |
23,253 | 19,328 |
723,062 | 498,162 |
Company | |
Q3 2025 | Q3 2024 |
N'000 | N'000 |
608,301 | 437,761 |
49,043 | 3,760 |
21,103 | 17,638 |
678,447 | 459,158 |
14 | Directors' remuneration |
Fees for services as a director |
Other emoluments as management |
Group | |
Q3 2025 | Q3 2024 |
173,776 | 93,246 |
27,232 | 25,353 |
201,008 | 118,599 |
Company | |
Q3 2025 | Q3 2024 |
165,895 | 92,730 |
27,232 | 25,353 |
193,127 | 118,083 |
18,000 | 18,000 |
18,000 | 18,000 |
The emoluments of the chairman of the board (excluding pension contributions)
The table below shows the numbers of directors of the company whose remuneration excluding pension contributions fell within the bands stated.
Number | Number |
Q3 2025 | Q3 2024 |
Number | Number |
Q3 2025 | Q3 2024 |
Less than N500,001 |
N500,001 - N3,000,000 |
N8,000,001 - N12,000,000 |
More than N12,000,000 |
- | - |
- | - |
6 | 6 |
4 | 2 |
10 | 8 |
- | - |
- | - |
6 | 6 |
4 | 2 |
10 | 8 |
Group | |
Q3 2025 | Q3 2024 |
9,826 | 11,021 |
40,539 | 18,188 |
50,365 | 29,209 |
Group | |
Q3 2025 | Q3 2024 |
Company | |
Q3 2025 | Q3 2024 |
3,827 | - |
40,539 | 18,188 |
44,366 | 18,188 |
Company | |
Q3 2025 | Q3 2024 |
Other income |
Rent income |
16 | Finance income |
Interest income on short-term bank deposits |
12,222 | 3,441 |
12,222 | 3,441 |
12,222 | 14 |
12,222 | 14 |
N'000
15 | Other income |
16.2 | Net Foreign Exchange Gain/(Loss) |
Foreign exchange gain/Loss |
136,826 | (2,278,771) |
136,826 | (2,278,771) |
136,826 | (2,278,771) |
136,826 | (2,278,771) |
17 | Finance cost |
Group | |
Q3 2025 | Q3 2024 |
Company | |
Q3 2025 | Q3 2024 |
Interest on Loan |
Interest on bank overdrafts |
Accretion charge |
823,806 | 2,768,207 |
- | 260,038 |
26,825 | 23,642 |
850,631 | 3,051,887 |
778,346 | 2,768,207 |
- | 260,038 |
20,874.00 | 21,369 |
799,220 | 3,049,614 |
This amount represents interest charges on various short term loans, overdrafts and trade finances.
18 | Taxation |
Group | |
Q3 2025 | Q3 2024 |
Company | |
Q3 2025 | Q3 2024 |
Current taxes on income for the quarter |
Deferred Tax |
Tax expense on Income statement |
Tax on Other Comprehensive Income |
Total tax expense |
76,330 | 523,754 |
- | 335,000 |
76,330 | 858,754 |
- | - |
76,330 | 858,754 |
76,330 | 1,261,324 |
- | 335,000 |
76,330 | 1,596,324 |
- | - |
76,330 | 1,596,324 |
Corporation tax is calculated at 30 percent of the taxable profit for the year. The charge for taxation on these financial statements is based on the
Property, plant and equipment and intangible assets
Group
Property Plant and Equipment
Intangible Assets
Land
Buildings
Plant and Machinery
Capital Work-In-Progress
Office Equipment
Furniture & Fittings
Motor Vehicles
Total PPE
Computer Software
Total Intangible
Assets
N'000
N'000
N'000
N'000
N'000
N'000
N'000
N'000
N'000
N'000
Naira
Cost
At 1 January 2024
2,478,160
4,606,393
8,139,296
915,135
450,410
396,734
1,387,480
15,895,448
150,981
150,981
Additions in the year
61,367
563,374
2,256,775
69,192
21,850
915,184
3,887,742
-
-
Transfers (Note 19.4)
-
151,188
144,375
(594,846)
7,510
12,316
279,455
-
-
Asset Writen off (Note 19.3)
(200)
(11,578)
(84)
(480)
(12,342)
-
-
CWIP Writeoff
-
-
-
-
(104,610)
(104,610)
At 31 December 2024
2,478,160
4,818,949
8,846,846
2,565,485
527,028
430,420
2,477,510
19,666,238
150,981
150,981
Additions in the year
1,469
117,327
159,850
404,700
91,629
44,719
-
819,692
-
-
Transfers (Note 19.4)
283,278
738,346
387,373
(1,925,830)
30,148
42,273
444,413
-
-
Reclassification
-
-
-
-
Asset Writen off (Note 19.3)
(2,314)
(12,669)
(237,715)
(463)
(5,436)
(199,829)
(458,427)
Asset Disposed
(313,341)
(23,949)
-
(1,260)
-
(19,135)
(357,685)
-
-
At 30th September 2025
2,762,906
5,358,967
9,357,451
806,640
647,081
511,975
2,702,959
22,147,979
150,981
150,981
Accumulated Depreciation, Amortisation and Impairment
At 1 January 2024
-
(1,054,371)
(3,629,089)
-
(326,270)
(304,290)
(883,049)
(6,197,069)
(132,434)
(132,434)
Charge for the year
(225,575)
(333,136)
-
(61,333)
(42,703)
(300,074)
(962,821)
(18,547)
(18,547)
Asset Writen off (Note 19.3)
200
84
480
764
-
-
Asset Disposed
-
-
49,517
49,517
-
At 31 December 2024
-
(1,279,946)
(3,962,025)
-
(387,520)
(346,513)
(1,133,606)
(7,109,609)
(150,981)
(150,981)
Charge for the year
(202,578)
(270,884)
-
(58,218)
(28,479)
(318,271)
(878,429)
-
-
Asset Writen off (Note 19.3)
2,314
12,768
463
5,436
66,496
87,478
-
Asset Disposed
42,198
4,004
1,260
-
13,076
60,538
-
-
At 30th September 2025
-
(1,438,011)
(4,216,136)
-
(444,015)
(369,556)
(1,372,305)
(7,840,023)
(150,981)
(150,981)
Net Book Value
At 31 December 2024
2,478,160
3,539,003
4,884,821
2,565,485
139,508
83,907
1,343,904
15,034,790
0
0
At 30th September 2025
2,762,906
3,920,956
5,141,315
806,640
203,066
142,419
1,330,654
14,307,958
0
-
Capital WIP - Assets categorized as Capital Work-In-Progress are the cost of land and building, survey, cost of processing land documentation and various stations upgrades costs.
Assets pledged as security - The assets pledged as security in relation to loans held by the Company are primarily the storage tank farms held by the Company in Ibru Jetty, Ibafon, Apapa and the owned stations across the country. The value of security is N16.8billion.
Write off - Following the review of the Company's fixed Asset position at half year, assets which do not meet the capitalisation policy of the company were written off.
Transfers - These represent the movement of capital work in progress to the appropriate asset classes upon completion.
19 (Continued)
Other intangible assets | ||
Group/Company | ||
Intangible Assets | ||
Computer Software | Total Intangible Assets | |
N'000 | N'000 | |
Cost | ||
At 1 January 2024 | 150,981 | 150,981 |
Additions in the year | - | - |
Written off (Note 15.3) | - | - |
At 31 December 2024 | 150,981 | 150,981 |
Additions in the year | - | - |
At 30th September 2025 | 150,981 | 150,981 |
Amortisation | ||
At 1 January 2024 | (132,433) | (132,433) |
Charge for the year | (18,548) | (18,548) |
Asset Disposed | - | - |
At 31 December 2024 | (150,981) | (150,981) |
Charge for the year | - | - |
Asset Disposed | - | - |
At 30th September 2025 | (150,981) | (150,981) |
Carrying amount At 31 December 2024 | 0 | 0 |
At 30th September 2025 | 0 | - |
19
Company
Property Plant and Equipment | ||||||||
Land | Buildings | Plant and Machinery | Capital Work-In-Progress | Office Equipment | Furniture & Fittings | Motor Vehicles | Total PPE | |
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
Naira | ||||||||
Cost | ||||||||
At 1 January 2024 | 2,457,578 | 4,372,042 | 7,337,083 | 847,365 | 376,666 | 357,669 | 1,360,412 | 17,108,815 |
Additions in the year | 44,207 | 38,771 | 2,222,956 | 61,334 | 21,850 | 915,184 | 3,304,303 | |
Transfers (Note 19.4) | - | 151,188 | 113,446 | (563,916) | 7,510 | 12,316 | 279,455 | - |
Asset Writen off (Note 19.3) | - | (11,578) | (55) | (480) | (12,113) | |||
CWIP Writeoff | - | - | - | (104,610) | (104,610) | |||
At 31 December 2024 | 2,457,578 | 4,567,438 | 7,489,300 | 2,494,827 | 445,456 | 391,355 | 2,450,442 | 20,296,395 |
Additions in the year | 1,469 | 47,641 | 43,979 | 391,238 | 45,026 | 41,002 | - | 570,356 |
Transfers (Note 19.4) | 283,278 | 738,346 | 325,631 | (1,850,647) | 18,377 | 40,603 | 444,413 | - |
Asset Writen off (Note 19.3) | - | (2,314) | (12,669) | (236,836) | (399) | (5,436) | (199,829) | (457,484) |
Asset Disposed | - | (313,341) | (23,949) | - | (19,135) | (356,425) | ||
At 30th September 2025 | 2,742,324 | 5,037,770 | 7,822,292 | 798,582 | 508,460 | 467,524 | 2,675,891 | 20,052,842 |
Accumulated Depreciation, | ||||||||
Amortisation and Impairment | ||||||||
At 1 January 2024 | - | (980,656) | (3,232,276) | - | (269,981) | (270,188) | (864,809) | (5,617,910) |
Charge for the year | - | (210,855) | (281,340) | - | (56,855) | (40,167) | (295,594) | (884,812) |
Asset Writen off (Note 19.3) | - | 55 | 480 | 535 | ||||
Asset Disposed | - | - | - | 49,517 | 49,517 | |||
At 31 December 2024 | - | (1,191,511) | (3,513,616) | - | (326,781) | (309,875) | (1,110,886) | (6,452,670) |
Charge for the year | - | (186,848) | (212,033) | - | (51,561) | (26,641) | (315,260) | (792,343) |
Asset Writen off (Note 19.3) | - | 2,314 | 12,768 | 399 | 5,436 | 66,495 | 87,413 | |
Asset Disposed | - | 42,198 | 4,004 | - | 13,076 | 59,278 | ||
At 30th September 2025 | - | (1,333,846) | (3,708,877) | - | (377,943) | (331,080) | (1,346,575) | (7,098,322) |
Net Book Value | ||||||||
At 31 December 2024 | 2,457,578.00 | 3,375,927 | 3,975,684 | 2,494,827 | 118,675 | 81,480 | 1,339,556 | 13,843,727 |
At 30th September 2025 | 2,742,324 | 3,703,924 | 4,113,415 | 798,582 | 130,517 | 136,444 | 1,329,316 | 12,954,519 |
Group | |
30 Sept 2025 | 31 Dec 2024 |
64,305 | 54,065 |
- | 125,403 |
(58,750) | (115,163) |
5,555 | 64,305 |
378,006 | 200,990 |
5,555 | 64,305 |
383,561 | 265,295 |
Company | |
30 Sept 2025 | 31 Dec 2024 |
64,305 | 54,065 |
- | 125,403 |
(58,750) | (115,163) |
5,555 | 64,305 |
359,362 | 186,841 |
5,555 | 64,305 |
364,917 | 251,146 |
Notes to the consolidated financial statements
N'000 | N'000 N'000 N'000 |
20 | Right of Use Assets |
Opening Balance |
Additional lease |
Reclassification |
Depreciation |
Group | |
30 Sept 2025 | 31 Dec 2024 |
1,584,044 | 1,656,365 |
130,000 | 439,456 |
- | (100,000) |
(273,982) | (411,777) |
1,440,062 | 1,584,044 |
Company | |
30 Sept 2025 | 31 Dec 2024 |
1,584,044 | 1,656,365 |
130,000 | 439,456 |
- | (100,000) |
(273,982) | (411,777) |
1,440,062 | 1,584,044 |
21 | Prepayments |
22 | Investments |
Company | |
30 Sept 2025 | 31 Dec 2024 |
Prepaid rent |
Additions |
Amortisation |
Other short term prepayment |
Total prepaid rents |
Total prepayments |
99.98% in Eterna Industries Limited |
100% in Eterna Marine and Services Limited |
49,990 | 49,990 |
1,000 | 1,000 |
50,990 | 50,990 |
Company | |
30 Sept 2025 | 31 Dec 2024 |
575,382 | 575,382 |
575,382 | 575,382 |
575,382 | 575,382 |
575,382 | 575,382 |
Group | |
30 Sept 2025 | 31 Dec 2024 |
2,430,837 | 2,205,199 |
19,703,219 | 21,326,553 |
128,823 | 137,744 |
22,262,879 | 23,669,496 |
Company | |
30 Sept 2025 | 31 Dec 2024 |
Raw materials |
Finished goods |
Consumables |
2,430,837 | 2,205,199 |
19,702,514 | 21,326,388 |
70,563 | 67,876 |
22,203,915 | 23,599,463 |
These investments are ultimately consolidated at group level.
Other Investments |
JUHI 2 Project |
Group | |
30 Sept 2025 | 31 Dec 2024 |
23 | Inventory |
Inventory is carried at the lower of cost or net realisable value. Cost is determined using weighted average method. The cost of finished goods and work in progress comprises of raw materials, importation logistics cost, direct labour, other direct costs and other production overheads. |
Net realisable value is the estimated selling price in the ordinary course of business less applicable variable selling expenses. |
Notes to the consolidated financial statements
N'000 | N'000 N'000 N'000 |
24 | Trade and other receivables |
Group | |
30 Sept 2025 | 31 Dec 2024 |
Company | |
30 Sept 2025 | 31 Dec 2024 |
Trade receivables |
Less: Impairment of trade receivables |
Trade receivables - net |
Due to Group Companies |
Due from related parties |
Bridging claims |
Foreign Exchange Purchase Deposit |
Other receivables |
Loan to Juhi 2 |
Financial asset |
9,044,164 | 8,970,565 |
(2,588,127) | (2,588,127) |
6,456,038 | 6,382,438 |
13,249 | - |
- | 39,495 |
1,926,582 | 1,926,582 |
196,830 | 196,830 |
200,000 | 209 |
245,563 | 268,921 |
9,038,262 | 8,814,475 |
9,009,835 | 8,905,870 |
(2,588,127) | (2,588,127) |
6,421,709 | 6,317,743 |
2,533,723 | 1,987,641 |
- | 39,495 |
1,926,582 | 1,926,582 |
196,830 | 196,830 |
200,000 | 209 |
245,563 | 240,571 |
11,524,407 | 10,709,071 |
Advances |
WHT receivables |
VAT receivables |
Non-financial asset |
4,284,122 | 7,698,909 |
994,779 | 1,578,954 |
1,760,902 | 1,454,446 |
7,039,803 | 10,732,309 |
4,287,580 | 7,702,128 |
994,779 | 1,578,954 |
1,726,451 | 1,432,569 |
7,008,810 | 10,713,651 |
16,078,065 | 19,546,784 |
18,533,217 | 21,422,722 |
25 | Cash and Cash Equivalents |
Cash and bank |
Short term deposits with Financial institutions |
Cash and bank balances |
Group | |
30 Sept 2025 | 31 Dec 2024 |
2,242,298 | 5,909,936 |
28,576 | 28,576 |
2,270,874 | 5,938,512 |
Company | |
30 Sept 2025 | 31 Dec 2024 |
2,184,424 | 5,846,091 |
28,576 | 28,576 |
2,212,999 | 5,874,667 |
Bank overdrafts |
Cash and Cash equivalents |
(1,932,475) | (4,302,576) |
338,399 | 1,635,936 |
(1,932,475) | (4,302,576) |
280,525 | 1,572,091 |
26 | Borrowings |
Current |
Opening balance |
Additions |
Interest on trading cost |
Foreign exchange loss on loan |
Repayment |
Group | |
30 Sept 2025 | 31 Dec 2024 |
49,072,203 | 43,229,923 |
74,814,921 | 192,627,084 |
1,522,674 | 5,504,605 |
- | 12,546,181 |
(88,693,092) | (204,835,590) |
36,716,706 | 49,072,203 |
Company | |
30 Sept 2025 | 31 Dec 2024 |
49,072,203 | 43,229,923 |
74,814,921 | 192,627,084 |
1,522,674 | 5,504,605 |
- | 12,546,181 |
(88,693,092) | (204,835,590) |
36,716,706 | 49,072,203 |
1,932,475 | 4,302,576 |
38,649,181 | 53,374,779 |
1,932,475 | 4,302,576 |
38,649,181 | 53,374,779 |
Bank overdraft
28,523,990 | 41,641,686 |
28,523,990 | 41,641,686 |
10,125,191 | 11,733,093 |
10,125,191 | 11,733,093 |
27 | Decomissioning Liability |
Group | |
30 Sept 2025 | 31 Dec 2024 |
250,032 | 211,835 |
26,825 | 38,197 |
294,234 | 250,032 |
Company | |
30 Sept 2025 | 31 Dec 2024 |
227,608 | 193,138 |
20,874 | 34,470 |
248,482 | 227,608 |
Balance as at 1 January Accretion expenses
Notes to the consolidated financial statements | |||
N'000 | N'000 | N'000 | N'000 |
Group 30 Sept 2025 | 31 Dec 2024 | Company 30 Sept 2025 | 31 Dec 2024 |
Trade creditors |
Bridging Allowance |
Other payables |
Due to Related Parties |
Financial Liabilities |
2,821,722 | 851,442 |
423,377 | 423,377 |
5,051,931 | 2,455,714 |
1,573,657 | 1,492,041 |
9,870,687 | 5,222,574 |
2,821,722 | 838,565 |
423,377 | 423,377 |
5,086,193 | 2,375,502 |
1,573,657 | 1,492,041 |
9,904,950 | 5,129,485 |
Advance received |
VAT payables |
Tax related liabilities |
Accrued payables |
Non-financial liabilities |
1,389,112 | 976,459 |
39,074 | - |
84,874 | 107,320 |
1,498,765 | 969,229 |
3,011,824 | 2,053,008 |
1,389,112 | 976,459 |
0.00 | - |
72,279 | 78,939 |
1,498,765 | 966,930 |
2,960,155 | 2,022,328 |
12,882,511 | 7,275,582 |
12,865,105 | 7,151,813 |
29 | Share Capital |
Issued, alloted and fully paid: |
1,304,145 thousand Ordinary shares of 50k each |
652,072 | 652,072 |
Issued and fully alloted: |
1,304,145 thousand Ordinary shares of 50k each |
652,072 | 652,072 |
28 | Trade and other payables |
30 Sept 2025 | 31 Dec 2024 |
Authorised: |
1,600,000 thousands Ordinary shares of 50k each |
800,000 | 800,000 |
Number of shares | Ordinary shares | Share premium | Total |
At 1 January 2024 |
Capitalised during the period |
Issue of new shares |
At 30 September 2025 |
1,304,145 | 652,072 | 5,796,053 | 6,448,125 |
- | - | - | - |
- | - | - | - |
1,304,145 | 652,072 | 5,796,053 | 6,448,125 |
30 | Earnings per share |
(a) | Basic |
Basic earnings per share is calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares in issue during the year. |
30 Sept 2025 | 31 Dec 2024 |
30 Sept 2025 | 31 Dec 2024 |
Profit/(loss) for the year attributable to shareholders (in N'000) |
Weighted average number of ordinary shares in issue |
Basic earnings per share (in N'000) |
325,882 | 3,228,052 |
1,304,145 | 1,304,145 |
0.25 | 2.48 |
659,358 | 3,228,052 |
1,304,145 | 1,304,145 |
0.51 | 2.48 |
Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares.
Group | Company | ||
30 Sept 2025 | 31 Dec 2024 | 30 Sept 2025 | 31 Dec 2024 |
1,157,705 | 3,228,052 |
1,304,145 | 1,304,145 |
Profit/(loss) for the year attributable to shareholders (in N'000) | 325,882 | 3,228,052 |
Weighted average number of ordinary shares in issue | 1,304,145 | 1,304,145 |
Adjustments for : | ||
- Share options | - |
-
Weighted average number of ordinary shares for diluted earnings per share (thousands) | 1,304,145 | 1,304,145 |
1,304,145 | 1,304,145 |
0.25 | 2.48 |
0.89 | 2.48 |
Basic earnings per share (in N'000)
Group |
Dec 2023 |
Financial performance |
Revenue |
Profit/(loss) before tax |
Taxation |
1,348,624 | (9,332,123) | 1,012,252 | (1,100,132) |
Consolidated Financial Statements for period ended 30th September 2025
Sept 2025 212,843,396 | Dec 2024 313,615,914 | 183,375,434 | Dec 2022 116,472,441 | Dec 2021 82,197,987 | |||||
1,396,824 | 4,483,846 | (7,878,667) | 2,097,874 | (936,415) | |||||
(1,070,942) | (3,135,222) | (1,453,456) | (1,085,622) | (163,717) | |||||
Profit/(loss) for the year | 325,882 | ||||||||
Non - controlling interest | - | (2) | - | 44 | 4 | ||||
Total comprehensive Income/(loss) for the year | 325,882 | ||||||||
Basic earnings per share (kobo) | 0.25 | 2.48 | (7.16) | 0.78 | (0.84) | ||||
Diluted earnings per share (kobo) | 0.25 | 2.48 | (7.16) | 0.78 | (0.84) |
Financial position |
Share capital |
Share premium |
Non -controlling interest |
Retained Earnings |
Total equity |
652,072 | 652,072 | 652,072 | 652,072 | 652,072 | |
5,796,053 | 5,796,053 | 5,796,053 | 5,796,053 | 5,796,053 | |
(4) | (4) | (2) | (2) | 42 | |
(1,271,768) | (1,597,649) | (2,845,284) | 6,682,461 | 5,670,208 | |
5,176,353 | 4,850,472 3,602,839 13,130,584 12,118,375 | ||||
Property, plant and equipment |
Other non-current assets |
Net Current Assets/(liabilities) |
Non-current liabilities |
Net assets |
14,307,958 | 15,034,790 | 12,195,086 | 12,241,840 | 12,465,742 |
2,835,747 | 2,967,907 | 2,131,747 | 2,400,278 | 2,690,470 |
(1,547,925) | (1,169,099) | (9,136,226) | 48,668 | (707,721) |
(10,419,425) | (11,983,125) | (1,587,768) | (1,560,203) | (2,330,115) |
5,176,353 4,850,472 3,602,839 13,130,584 12,118,375 | ||||
1,348,624 | (9,332,123) | 1,012,252 | (1,100,132) |
Net assets per share (Naira) 3.97 2.69 2.76 10.07 9.29
Earnings per share is based on the profit attributable to shareholders computed on the basis of the number of issued ordinary shares as at the end of each financial years.
Net assets per share is based on the net assets as the number of issued ordinary shares as at the end of each financial years.