Etranzact International PlcNSENG: ETRANZACT

E-tranzact international plc- quarter 1 - financial statement for 2026

· Issued by Etranzact International Plc


eTRANZACT INTERNATIONAL PLC UNAUDITED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

eTRANZACT INTERNATIONAL PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

Unaudited

Unaudited

31/03/2026

31/03/2025

N'000

N'000

Continuing operations

Revenue

8,437,208

6,533,042

Cost of sales

(4,937,792)

(3,402,074)

Gross profit

3,499,416

3,130,968

Selling and Marketing costs

(265,434)

(119,068)

Administrative expenses

(2,305,442)

(1,869,382)

Operating profit

928,540

1,142,518

Other Income

-

-

Finance Cost

(3,539)

(5,637)

Investment income

84,743

49,256

Profit before tax

1,009,744

1,186,137

Taxation

(302,923)

(355,841)

Profit for the period

706,821

830,296

There is no other comprehensive income for the period, hence the profit for the period is equal to the total comprehensive income.

eTRANZACT INTERNATIONAL PLC

STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH 2026

Unaudited

Audited

31/03/2026

31/12/2025

Note

N'000

N'000

Non-current assets

Property, plant and equipment

1

4,243,791

3,567,975

Investment property

2

136,810

136,810

Intangible assets

3

15,576

16,635

Deposit for shares

456,755

456,755

Total non-current assets

4,852,932

4,178,175

Current assets

Inventories

6

1,846,688

1,755,104

Trade and other receivables

7

1,142,734

995,521

Other assets

5

7,868,389

7,557,102

Cash and cash equivalents

8

27,795,622

31,654,544

Total current assets

38,653,433

41,962,271

Total assets

43,506,365

46,140,446

Non-Current liabilities

Deferred tax liability

4

6,772

6,772

Deferred Grant Income

10

39,196

39,196

Long term Loan

10

128,354

146,711

174,322

192,679

Current liabilities

Trade and other payables

9

24,310,506

27,935,974

Current tax liabilities

11

2,124,100

1,821,177

Total current liabilities

26,434,606

29,757,151

Total liabilities

26,608,928

29,949,830

Equity

Share capital

12

4,600,000

4,600,000

Share premium account

13

7,374,272

7,374,272

Retained earnings

14

4,923,165

4,216,344

Total equity attributable to owners of the company

16,897,437

16,190,616

Total equity and Liabilities

43,506,365

46,140,446

The financial statements was approved by the Board of Directors on April 29, 2026 and signed on its behalf by:

…………………………





……………………………..

Mr Niyi Toluwalope Mr Emmanuel Ogunji

Chief Executive Officer Chief Financial Officer FRC/2013/PRO/ICAN/002/00000002251 FRC/2014/PRO/ICAN/001/00000007266

eTRANZACT INTERNATIONAL PLC

STATEMENT OF CHANGES IN EQUITY

FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

Share capital

Share

premium

Convertible

Debenture

Retained

earnings

Total

N'000

N'000

N'000

N'000

N'000

Balance at 1 January 2025

4,600,000

7,374,272

-

2,896,677

14,870,949

Profit for the year

-

-

-

2,469,667

2,469,667

Other comprehensive income

-

-

-

-

-

Total comprehensive income

-

-

-

2,469,667

2,469,667

Dividend paid for 2024

-

-

-

(1,150,000)

(1,150,000)

Balance at 31 December 2025

4,600,000

7,374,272

-

4,216,344

16,190,616

Balance at 1 January 2026

4,600,000

7,374,272

-

4,216,344

16,190,616

Profit for the period

-

-

-

706,821

706,821

Other comprehensive income for the period

-

-

-

-

-

Total comprehensive income

-

-

-

706,821

706,821

Dividend paid for 2025

-

-

-

-

-

Balance at 31 March 2026

4,600,000

7,374,272

-

4,923,165

16,897,437

eTRANZACT INTERNATIONAL PLC

CASHFLOW STATEMENT FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

31/03/2026

31/12/2025

Note

N'000

N'000

Cashflow from operating activities

Cash receipt from customers

8,183,268

29,584,939

Cash paid to suppliers and employees

(11,011,543)

(5,850,781)

Cash generated from/(used in) operations

(2,828,275)

23,734,158

Income taxes paid

11

-

(1,503,762)

Net cash generated by/(used in) operating activities

(2,828,275)

22,230,396

Cashflow from investing activities

Purchase of property, plant and equipment

1

(1,089,955)

(2,234,256)

Additions to intangible assets

3

-

-

Interest received and similar income

84,743

258,899

Interest on Loan

(3,539)

(10,264)

Proceeds from sale of Investment Property

-

-

Proceeds from sale of Property, plant and equipment

-

-

Net cash used in investing activities

(1,008,751)

(1,985,621)

Cashflow from financing activities

Net Proceeds from Debenture Issue Issue Cost

Dividend Paid

Repayment of Loan Principal

-

-

-(17,857)

-

-(1,150,000)

(71,429)

Repayment of Interest on Loan

(4,039)

(20,039)

Loan obtained

10

-

-

Net cash used in financing activities

(21,896)

(1,241,468)

Net increase/(decrease) in cash and cash equivalents

(3,858,922)

19,003,307

Effects of exchange rate on year end bank balances

-

(1,244)

Cash and cash equivalents at beginning of year

31,654,544

12,652,482

Cash and cash equivalents at end of the period

8

27,795,622

31,654,544

4

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

1.0 Property, plant and equipment

Furnitures,

Computer

Plant &

Fittings and

Equipment &

Work In

Motor Vehicle

machinery

Equipment

POS

Progress

TOTAL

N000

N000

N000

N000

N000

N000

Cost or Valuation

As at January 1, 2026

2,259,212

56,463

2,413,312

1,743,905

-

6,472,892

Additions

187,000

6,300

144,646

752,009

-

1,089,955

Reclassifications

-

-

-

-

-

-

Disposals

-

-

-

-

-

-

As at 31 March, 2026

2,446,212

62,763

2,557,958

2,495,914

-

7,562,847

Accumulated depreciation and impairment

As at 1 January

Adjustments

925,520

51,262

1,149,415

778,720

-

2,904,917

Charge for the period

103,031

912

126,446

183,749

414,138

Disposals

-

-

-

-

-

As at 31 March, 2026

1,028,551

52,174

1,275,861

962,469

-

3,319,056

Carrying amount

As at January 1, 2026

1,333,692

5,201

1,263,897

965,185

-

3,567,975

As at 31 March, 2026

1,417,661

10,589

1,282,097

1,533,445

-

4,243,791

1.1

Impairment losses recognised in the Period

There were no impairment losses recognized during the period.

1.2 Contractual commitments

At March 31, 2026 the company had no contractual commitments for the acquisition of property, plant and equipment

5

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

2 Investment property

Cost

Land

31/03/2026

N'000

136,810

31/12/2025

N'000

136,810

31/03/2026

31/12/2025

N'000

N'000

Balance at the beginning of the year 136,810 Disposal -

Impairment loss -

136,810

-

-

Balance at the period end 136,810

136,810

The company's investment property is held under freehold interests.

Investment property is recognized at cost in the books and subsequently tested for impairments.

As at March 31, 2026 the fair value of the investment property has been estimated as N786.8m (2025: N786.8m). The fair value has been determined by the management of the company by reference to market evidence of transaction prices for similar properties in comparable areas.

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

  1. Intangible assets

    This represents the cost incurred in acquiring e-portal and other technologies which form the basis of the Company's e-payment Technology solutions.

    eTranzact enterprise platform

    N'000

    eRemit platform

    N'000

    Other Softwares

    N'000

    TOTAL N'000

    Cost

    At 1 January 2026

    293,511

    105,858

    54,659

    454,028

    Additions

    -

    -

    -

    -

    Reclassification

    -

    -

    -

    -

    Disposals

    -

    -

    -

    -

    As at 31 March, 2026

    293,511

    105,858

    54,659

    454,028

    Amortisation

    At 1 January 2026

    Adjustments

    293,511

    89,223

    54,659

    437,393

    -

    Charge for the year

    -

    1,059

    -

    1,059

    Disposals

    -

    -

    -

    -

    As at 31 March, 2026

    293,511

    90,282

    54,659

    438,452

    Carrying amount

    At 1 January 2026

    -

    16,635

    -

    16,635

    As at 31 March, 2026

    -

    15,576

    -

    15,576

  2. Significant intangible assets

In line with the IFRS reporting and disclosure standards, management has reviewed in detail the intangible assets and is of the opinion that the useful life of the Enterprise software platform and eRemit platform should be 25 years from its original implementation and this has been adjusted accordingly from the year 2012. The carrying amounts of eTranzact enterprise softwares will be fully amortised in 18 years from 2012, the eRemit platform carrying amount will be fully amortised in 22 years and 4 months.

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

4.0 Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

31/03/2026

N'000

31/12/2025

N'000

At 1 January

-

-

Charged to profit or loss

-

-

Charged to other comprehensive income

-

-

Charged directly to equity

-

-

Reclassification from equity to profit or loss

-

-

Acquisitions/disposals

-

-

Others (describe)

6,772

6,772

As at 31 March, 2026

6,772

6,772

31/03/2026

N'000

31/12/2025

N'000

Deferred tax assets Deferred tax liabilities

-

6,772

-

6,772

6,772

6,772

5.0 Other assets

31/03/2026

31/12/2025

N'000

N'000

Prepayments

890,936

766,345

Advance payments

6,977,453

6,790,757

Other assets (Note 5.1)

84,259

84,259

7,952,648

7,641,361

Allowance for other assets

(84,259)

(84,259)

7,868,389

7,557,102

5.1 Other assets

Other assets balance represents amounts recoverable from the banks on unauthorized withdrawals on the reloadable customers float account in various banks, which were initially refunded by etranzact pending the outcome of investigations into the cases.

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

6.0 Inventories

31/03/2026

31/12/2025

N'000

N'000

Airtime Pins

1,846,688

1,755,104

Utility Stock

Point of Sales (POS)

EMV - (Note 6.1)

Bulk SMS

-

-

-

-

-

-

-

-

1,846,688

1,755,104

Provision for obsolete spares and slow moving stock

-

-

1,846,688

1,755,104

6.1 EMV Cards

N'000

N'000

EMV in Store

Stocks in transit

-

-

-

-

-

-

7.0 Trade and other receivables

31/03/2026

31/12/2025

N'000

N'000

Trade receivables

1,084,420

830,480

Allowance for doubtful debts

(436,240)

(436,240)

648,180

394,240

Other receivables

Staff debtors (Note 7.1)

81,675

68,336

Other debtors

412,879

532,945

1,142,734

995,521

The directors consider that the carrying amount of trade and other receivables is approximately equal to their fair value.

7.1 Staff debtors

31/03/2026

N'000

31/12/2025

N'000

Staff debtors

124,537

111,198

Allowance for staff debtors

(42,862)

(42,862)

81,675

68,336

8 Cash and Bank

31/03/2026

31/12/2025

N'000

N'000

Cash and bank balances

2,623,799

3,735,537

Restricted Cash

22,178,188

25,001,640

Short term investments

2,993,635

2,917,367

27,795,622

31,654,544

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

9

Trade and other payables

31/03/2026

31/12/2025

N'000

N'000

Trade payable

415,983

374,651

Other payables:

Accruals and Deferred Income

466,174

357,998

Pension contribution (Note 9.2)

78,823

41,447

Funds held for Pocketmoni and Access Bank Card Scheme

836,569

1,316,547

Other Statutory Payables

1,591,839

1,390,555

Other Payables

2,753,680

2,875,449

Fund held in settlement & holding accounts

18,126,071

21,540,199

Other creditors

41,367

39,129

24,310,506 27,935,975

9.1 Trade creditors and other payables principally comprise amounts outstanding for trade purchases and ongoing costs. The average credit period taken for trade purchases is 6 days. The company has financial risk management policies in place as well as efficient and effective treasury management policies to ensure that all payables are paid within the pre-agreed credit terms.

Included in other statutory payables for the period is an amount which represents VAT payable. This amounts are witheld from proceeds from sales to third parties and commissions earned on switching transactions perfromed on the platform.

The directors consider that the carrying amount of trade and other payables approximates to their fair value.

9.2 Pension Contribution

31/03/2026

N'000

31/12/2025

N'000

At 1 January

41,447

97,622

Provisions

105,776

369,876

Payment

(68,400)

(426,051)

78,823

41,447

10 Long Term Loan

31/03/2026

31/12/2025

N'000

N'000

Openng Balance Additions

Deferred Income on Grant

Principal Repayment

146,711

-

-(17,857)

210,864

-

-(71,429)

Interest Repayment

Modification Gain Accrued Interest

(4,039)

-3,539

(20,039)

-27,315

128,354

146,711

Deferred Income on Grant Opening Balance

39,196

56,247

Accrued during the period

Recognised during the period

-

-

-

(17,051)

39,196

39,196

Total Loan Balance with Accrued Interest

167,550

185,907

The loan of N500 million represents the first tranche of N150 million, the second tranche of N250 million and the third tranche of N100 million under the CBN's Shared Agent Network Expansion Facility. The loan is to fund the expansion of Shared Agent Networks across Nigeria in order to deepen financial inclusion in Nigeria. The loan was fair valued using the effective interest rate and a deferred grant income was recognised as a result of the actual interest rate on the loan being lower than the effective interest rate. The loan has a tenor of 10 years (inclusive of 2 years principal moratorium and 1 year interest moratorium). The Company did not pledge any of its assets in securing the loan.

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED 31ST MARCH 2026

11 Current tax liabilities

31/03/2026

31/12/2025

N'000

N'000

At 1 January

1,821,177

1,602,242

Charged for the period

302,923

1,722,697

Payments during the year

-

(1,503,762)

Writeback of excess provision

-

2,124,100

-

1,821,177

12 Share capital

31/03/2026

31/12/2025

N'000

N'000

Issued and fully paid:

9,199,999,816 ordinary shares of 50k each

4,600,000

4,600,000

The Company has one class of ordinary shares which carry no right to fixed income.

13 Share premium

31/03/2026

31/12/2025

N'000

N'000

At 1 January

7,374,272

7,374,272

As at 31 March, 2026

7,374,272

7,374,272

14 Retained earnings

31/03/2026

31/12/2025

N'000

N'000

At 1 January

4,216,344

2,896,677

Profit attributable to owners of the company

706,821

2,469,667

Dividend paid

-

(1,150,000)

As at 31 March, 2026

4,923,165

4,216,344

15 Statement of Compliance with Securities Trading Policy

In line with the provisions of Rule 17.2 of the Amendment to the Listing Rules and 17.17 of the Rule Book of the Nigerian Exchange Group which have been incorporated into Sections 4 to 6 of the Company's Securities Trading Policy, No Director, Person discharging managerial responsibility, Adviser(s) of the Company or their connected person was involved in the trading in the Company's shares from April 1, 2026 until 24 hours after the release of the Company's Financial Statements for the first quarter ended March 31, 2026 to the Nigerian Exchange Limited and the general public.

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