Etranzact International PlcNSENG: ETRANZACT

E-tranzact international plc- quarter 2 - financial statement for 2026

Jul 30, 2026 at 9:07 AM UTC · Issued by Etranzact International Plc

eTRANZACT INTERNATIONAL PLC UNAUDITED FINANCIAL STATEMENTS FOR FOR THE SECOND QUARTER ENDED 30TH JUNE 2026

eTRANZACT INTERNATIONAL PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SECOND QUARTER ENDED 30TH JUNE 2026

	Unaudited	Unaudited	Unaudited April - June	Unaudited April - June
	30/06/2026	30/06/2025	2026	2025
	N'000	N'000	N'000	N'000
Continuing operations
Revenue	16,276,331	13,278,387	7,839,123	6,764,344
Cost of sales	(9,500,807)	(6,835,098)	(4,563,016)	(3,541,024)
Gross profit	6,775,524	6,443,289	3,276,107	3,223,320
Selling and Marketing costs	(376,690)	(427,567)	(111,256)	(317,499)
Administrative expenses	(4,808,307)	(3,943,683)	(2,502,865)	(1,957,302)
Operating profit	1,590,527	2,072,039	661,986	948,519
Other Income	6,500	-	6,500	-
Finance Cost	(6,852)	(10,486)	(3,313)	(4,849)
Investment income	156,788	98,782	72,045	49,526
Profit before tax	1,746,963	2,160,335	737,218	993,196
Taxation	(524,089)	(648,100)	(221,166)	(297,959)
Profit for the period	1,222,874	1,512,235	516,052	695,237

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 30TH JUNE 2026

		Unaudited	Audited
		30/06/2026	31/12/2025
	Note	N'000	N'000
Non-current assets
Property, plant and equipment	1	3,960,033	3,567,975
Investment property	2	136,810	136,810
Intangible assets	3	14,517	16,635
Deposit for shares		456,755	456,755
Total non-current assets		4,568,115	4,178,175
Current assets
Inventories	6	1,719,480	1,755,104
Trade and other receivables	7	1,058,305	995,521
Other assets	5	7,979,809	7,557,102
Cash and cash equivalents	8	23,691,025	31,654,544
Total current assets		34,448,619	41,962,271
Total assets		39,016,734	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	110,236	146,711
		156,204	192,679
Current liabilities
Trade and other payables	9	20,824,472	27,935,974
Current tax liabilities	11	622,568	1,821,177
Total current liabilities		21,447,040	29,757,151
Total liabilities		21,603,244	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	5,439,218	4,216,344
Total equity attributable to owners of the company		17,413,490	16,190,616
Total equity and Liabilities		39,016,734	46,140,446

The financial statements was approved by the Board of Directors on July 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 SECOND QUARTER ENDED 30TH JUNE 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	-	-	-	1,222,874	1,222,874
Other comprehensive income for the period	-	-	-	-	-
Total comprehensive income	-	-	-	1,222,874	1,222,874
Dividend paid for 2025	-	-	-	-	-
Balance at 30 June 2026	4,600,000	7,374,272	-	5,439,218	17,413,490

eTRANZACT INTERNATIONAL PLC

CASHFLOW STATEMENT FOR THE SECOND QUARTER ENDED 30TH JUNE 2026
		30/06/2026	31/12/2025
Cashflow from operating activities	Note	N'000	N'000
Cash receipt from customers		16,017,801	29,584,939
Cash paid to suppliers and employees		(21,150,958)	(5,850,781)
Cash generated from/(used in) operations		(5,133,157)	23,734,158
Income taxes paid	11	(1,722,698)	(1,503,762)
Net cash generated by/(used in) operating activities		(6,855,855)	22,230,396
Cashflow from investing activities
Purchase of property, plant and equipment	1	(1,230,173)	(2,234,256)
Additions to intangible assets Interest received and similar income	3	- 156,788	- 258,899
Interest on Loan		(6,852)	(10,264)
Proceeds from sale of Investment Property		-	-
Proceeds from sale of Property, plant and equipment		15,900	-
Net cash used in investing activities		(1,064,337)	(1,985,621)
Cashflow from financing activities
Net Proceeds from Debenture Issue Issue Cost		- -	- -
Dividend Paid		-	(1,150,000)
Repayment of Loan Principal		(35,714)	(71,429)
Repayment of Interest on Loan		(7,613)	(20,039)
Loan obtained	10	-	-
Net cash used in financing activities		(43,327)	(1,241,468)
Net increase/(decrease) in cash and cash equivalents		(7,963,519)	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	23,691,025	31,654,544

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE SECOND QUARTER ENDED 30TH JUNE 2026

1.0 Property, plant and equipment

Motor Vehicle

Plant & machinery

Furnitures,

Fittings and Equipment

Computer

Equipment & POS

Work In Progress

TOTAL

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	31,800	161,390	849,983	-		1,230,173
	Reclassifications	-	-	-	-	-		-
	Disposals	(47,000)	(19,520)	-	-	-		(66,520)
	As at 30 June, 2026	2,399,212	68,743	2,574,702	2,593,888		-	7,636,545
	Accumulated depreciation and impairment
	As at 1 January	925,520	51,262	1,149,415	778,720		-	2,904,917
	Adjustments Charge for the period	206,830	2,779	246,621	372,486			828,714
	Disposals	(37,600)	(19,520)	-	-			(57,120)
	As at 30 June, 2026	1,094,749	34,521	1,396,035	1,151,206		-	3,676,512
	Carrying amount
	As at January 1, 2026	1,333,692	5,201	1,263,897	965,185		-	3,567,975
	As at 30 June, 2026	1,304,463	34,222	1,178,667	1,442,682	-		3,960,033
1.1	Impairment losses recognised in the Period

There were no impairment losses recognized during the period.

1.2 Contractual commitments

At June 30, 2026 the company had no contractual commitments for the acquisition of property, plant and equipment

eTRANZACT INTERNATIONAL PLC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE SECOND QUARTER ENDED 30TH JUNE 2026

2 Investment property

Cost Land	30/06/2026 N'000 136,810	31/12/2025 N'000 136,810
	30/06/2026 N'000	31/12/2025 N'000
Balance at the beginning of the year	136,810	136,810
Disposal	-	-
Impairment loss	-	-

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 June 30, 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 SECOND QUARTER ENDED 30TH JUNE 2026

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 30 June, 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	-	2,117	-	2,117
Disposals	-	-	-	-
As at 30 June, 2026	293,511	91,341	54,659	439,511
Carrying amount At 1 January 2026	-	16,635	-	16,635
As at 30 June, 2026	-	14,517	-	14,517

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 SECOND QUARTER ENDED 30TH JUNE 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.

	30/06/2026 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 30 June, 2026	6,772	6,772

	Deferred tax assets Deferred tax liabilities	30/06/2026 N'000 - 6,772		31/12/2025 N'000 - 6,772
		6,772		6,772
5.0	Other assets
		30/06/2026		31/12/2025
		N'000		N'000
	Prepayments	974,759		766,345
	Advance payments	7,005,049		6,790,757
Other assets (Note 5.1) 84,259 84,259
		8,064,068	7,641,361
	Allowance for other assets	(84,259)	(84,259)
		7,979,809	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 SECOND QUARTER ENDED 30TH JUNE 2026
6.0 Inventories
	30/06/2026	31/12/2025
	N'000	N'000
Airtime Pins Utility Stock Point of Sales (POS) EMV - (Note 6.1) Bulk SMS	1,719,480 - - - -	1,755,104 - - - -
Provision for obsolete spares and slow moving stock	1,719,480 -	1,755,104 -
	1,719,480	1,755,104
6.1 EMV Cards
	N'000	N'000
EMV in Store Stocks in transit	- -	- -
	-	-
7.0 Trade and other receivables
	30/06/2026	31/12/2025
	N'000	N'000
Trade receivables	1,089,009	830,480
Allowance for doubtful debts	(436,240)	(436,240)
Other receivables	652,770	394,240
Staff debtors (Note 7.1)	67,686	68,336
Other debtors	337,849	532,945
	1,058,305	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	30/06/2026 N'000	31/12/2025 N'000
Staff debtors	110,548	111,198
Allowance for staff debtors	(42,862)	(42,862)
	67,686	68,336
8 Cash and Bank
	30/06/2026	31/12/2025
	N'000	N'000
Cash and bank balances	2,020,429	3,735,537
Restricted Cash	19,259,888	25,001,640
Short term investments	2,410,709	2,917,367
	23,691,025	31,654,544

	eTRANZACT INTERNATIONAL PLC
	NOTES TO THE FINANCIAL STATEMENTS
	FOR THE SECOND QUARTER ENDED 30TH JUNE 2026
9	Trade and other payables
		30/06/2026	31/12/2025
		N'000	N'000
	Trade payable Other payables:	442,598	374,651
	Accruals and Deferred Income	526,347	357,998
	Pension contribution (Note 9.2)	79,583	41,447
	Funds held for Pocketmoni and Access Bank Card Scheme	787,839	1,316,547
	Other Statutory Payables	1,701,562	1,390,555
	Other Payables	5,193,234	2,875,449
	Fund held in settlement & holding accounts	12,050,810	21,540,199
	Other creditors	42,502	39,129
		20,824,472	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	30/06/2026 N'000	31/12/2025 N'000
At 1 January	41,447	97,622
Provisions	212,242	369,876
Payment	(174,106)	(426,051)
	79,583	41,447
10 Long Term Loan	30/06/2026	31/12/2025
	N'000	N'000
Openng Balance	146,711	210,864
Additions	-	-
Deferred Income on Grant	-	-
Principal Repayment	(35,714)	(71,429)
Interest Repayment Modification Gain Accrued Interest	(7,613) -6,852	(20,039) -27,315
	110,236	146,711
Deferred Income on Grant
Opening Balance Accrued during the period Recognised during the period	39,196 - -	56,247 -(17,051)
	39,196	39,196
Total Loan Balance with Accrued Interest	149,432	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 SECOND QUARTER ENDED 30TH JUNE 2026
11 Current tax liabilities
	30/06/2026	31/12/2025
	N'000	N'000
At 1 January	1,821,177	1,602,242
Charged for the period	524,089	1,722,697
Payments during the year	(1,722,698)	(1,503,762)
Writeback of excess provision	-	-
	622,568	1,821,177
12 Share capital
	30/06/2026	31/12/2025
Issued and fully paid:	N'000	N'000
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
	30/06/2026	31/12/2025
At 1 January	N'000 7,374,272	N'000 7,374,272
As at 30 June, 2026	7,374,272	7,374,272
14 Retained earnings
	30/06/2026	31/12/2025
At 1 January	N'000 4,216,344	N'000 2,896,677
Profit attributable to owners of the company	1,222,874	2,469,667
Dividend paid	-	(1,150,000)
As at 30 June, 2026	5,439,218	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 July 1, 2026 until 24 hours after the release of the Company's Financial Statements for the second quarter ended June 30, 2026 to the Nigerian Exchange Limited and the general public.

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