Oando Income Statement

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,212,961	4,086,651	2,845,598	1,993,754	803,460
Revenue Growth (YoY)	-21.38%	43.61%	42.73%	148.15%	68.42%
Cost of Revenue	3,185,210	3,930,763	2,760,578	1,915,160	761,934
Gross Profit	27,750	155,888	85,020	78,594	41,526
Selling, General & Admin	278,051	610,859	261,354	82,172	106,367
Other Operating Expenses	3,173	-6,595	-3,452	6,112	-1,587
Operating Expenses	-296,420	675,868	265,041	101,276	-114,423
Operating Income	324,170	-519,980	-180,021	-22,682	155,949
Interest Expense	-337,199	-240,152	-103,311	-96,891	-78,240
Interest & Investment Income	381,106	47,197	16,903	15,773	44,081
Earnings From Equity Investments	1,165	2,777	1,150	-824.83	146.12
Currency Exchange Gain (Loss)	68,056	305,987	388,021	32,907	14,122
Other Non Operating Income (Expenses)	-80,102	4,316	-30,271	9,768	-114,619
EBT Excluding Unusual Items	357,196	-399,854	92,470	-61,950	21,440
Gain (Loss) on Sale of Investments	-2,386	283.16	79.1	5.02	8,676
Asset Writedown	-23,489	3,135	7,611	1,010	302
Other Unusual Items	-316,150	780,193	1,994	-1,573	14,056
Pretax Income	15,202	383,820	102,978	-61,840	44,474
Income Tax Expense	-226,110	163,700	42,701	19,390	11,615
Earnings From Continuing Operations	241,312	220,120	60,277	-81,231	32,859
Net Income to Company	241,312	220,120	60,277	-81,231	32,859
Minority Interest in Earnings	2,998	4,736	1,719	2,512	2,959
Net Income	244,310	224,856	61,996	-78,719	35,817
Net Income to Common	244,310	224,856	61,996	-78,719	35,817
Net Income Growth	8.65%	262.69%	-	-	-
Shares Outstanding (Basic)	9,568	13,467	13,467	14,590	14,590
Shares Outstanding (Diluted)	9,568	13,467	13,467	14,590	14,590
Shares Change (YoY)	-28.96%	-	-7.69%	-	-
EPS (Basic)	25.53	16.70	4.60	-5.40	2.45
EPS (Diluted)	25.53	16.70	4.60	-5.40	2.45
EPS Growth	52.94%	262.69%	-	-	-
Free Cash Flow	-249,077	-553,806	102,753	-62,620	-66,636
Free Cash Flow Per Share	-26.03	-41.12	7.63	-4.29	-4.57
Gross Margin	0.86%	3.82%	2.99%	3.94%	5.17%
Operating Margin	10.09%	-12.72%	-6.33%	-1.14%	19.41%
Profit Margin	7.60%	5.50%	2.18%	-3.95%	4.46%
Free Cash Flow Margin	-7.75%	-13.55%	3.61%	-3.14%	-8.29%
EBITDA	422,094	-456,230	-117,798	15,219	175,976
EBITDA Margin	13.14%	-11.16%	-4.14%	0.76%	21.90%
D&A For EBITDA	97,924	63,750	62,224	37,901	20,027
EBIT	324,170	-519,980	-180,021	-22,682	155,949
EBIT Margin	10.09%	-12.72%	-6.33%	-1.14%	19.41%
Effective Tax Rate	-	42.65%	41.47%	-	26.12%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.