Aradel Holdings Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	2,822,808	699,431	581,151	221,142	66,109	51,568
Revenue Growth	314.56%	20.35%	162.79%	234.51%	28.20%	58.53%
Cost of Revenue	1,265,354	391,220	224,633	78,686	24,738	37,261
Gross Profit	1,557,454	308,210	356,519	142,456	41,371	14,306
Selling, General & Admin	137,656	83,716	52,809	20,365	9,828	6,556
Other Operating Expenses	242,589	-13,924	-8,633	3,197	769.09	-1,841
Operating Expenses	412,355	70,734	47,611	23,622	11,886	5,412
Operating Income	1,145,099	237,476	308,908	118,834	29,485	8,894
Interest Expense	-302,580	-25,432	-20,241	-8,191	-2,673	-3,282
Interest & Investment Income	34,142	22,591	16,104	6,684	2,006	1,693
Earnings From Equity Investments	38,238	109,518	31,617	3,222	5,497	9,776
Currency Exchange Gain (Loss)	-1,449	1,586	-19,616	-8,386	-1,071	3,176
Other Non Operating Income (Expenses)	-6,267	-	-	-	13.79	-84.81
EBT Excluding Unusual Items	907,184	345,739	316,772	112,164	33,259	20,173
Merger & Restructuring Charges	-115,402	-115,402	-	-	-	-
Gain (Loss) on Sale of Investments	-5,661	-5,661	-	-	-	-
Gain (Loss) on Sale of Assets	-0.58	45.58	-	-	4.28	7.72
Other Unusual Items	610,288	610,288	-	-	-	-
Pretax Income	1,396,408	835,010	316,772	112,164	33,263	20,180
Income Tax Expense	594,414	77,667	57,700	58,426	18,123	-9,223
Earnings From Continuing Operations	801,994	757,343	259,072	53,738	15,140	29,403
Minority Interest in Earnings	-38,522	-3,004	-1,201	-990.66	-801.39	61.01
Net Income	763,472	754,339	257,871	52,747	14,339	29,464
Net Income to Common	763,472	754,339	257,871	52,747	14,339	29,464
Net Income Growth	155.97%	192.52%	388.88%	267.86%	-51.33%	75.30%
Shares Outstanding (Basic)	4,345	4,345	4,345	4,345	4,345	4,345
Shares Outstanding (Diluted)	4,345	4,345	4,345	4,345	4,345	4,345
Shares Change	-	-	-	-	-	-
EPS (Basic)	175.72	173.62	59.35	12.14	3.30	6.78
EPS (Diluted)	175.72	173.62	59.35	12.14	3.30	6.78
EPS Growth	155.97%	192.52%	388.88%	267.86%	-51.33%	75.30%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Free Cash Flow	653,373	69,342	175,337	90,232	21,882	15,675
Free Cash Flow Per Share	150.38	15.96	40.35	20.77	5.04	3.61
Dividend Per Share	33.000	33.000	30.000	10.000	1.750	1.000
Dividend Growth	50.00%	10.00%	200.00%	471.43%	75.00%	185.71%
Gross Margin	55.17%	44.07%	61.35%	64.42%	62.58%	27.74%
Operating Margin	40.57%	33.95%	53.15%	53.74%	44.60%	17.25%
Profit Margin	27.05%	107.85%	44.37%	23.85%	21.69%	57.14%
Free Cash Flow Margin	23.15%	9.91%	30.17%	40.80%	33.10%	30.40%
EBITDA	1,470,183	318,375	389,039	135,486	42,685	28,489
EBITDA Margin	52.08%	45.52%	66.94%	61.27%	64.57%	55.24%
D&A For EBITDA	325,084	80,898	80,132	16,652	13,200	19,594
EBIT	1,145,099	237,476	308,908	118,834	29,485	8,894
EBIT Margin	40.57%	33.95%	53.15%	53.74%	44.60%	17.25%
Effective Tax Rate	42.57%	9.30%	18.21%	52.09%	54.48%	-