Berger Paints Nigeria 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	12,991	10,832	7,968	6,332	4,965
Revenue Growth (YoY)	19.93%	35.95%	25.84%	27.53%	29.37%
Cost of Revenue	7,237	6,988	5,259	4,326	3,382
Gross Profit	5,753	3,844	2,708	2,005	1,583
Selling, General & Admin	3,584	2,848	2,085	1,700	1,452
Other Operating Expenses	-44	-120.78	-65.29	-60.32	-43.41
Operating Expenses	3,540	2,731	1,976	1,652	1,417
Operating Income	2,213	1,113	732.58	353.81	165.64
Interest Expense	-61.51	-32.08	-28.42	-15.55	-35.63
Interest & Investment Income	117.38	11.97	40.58	15.48	16.1
Currency Exchange Gain (Loss)	4.3	-1.64	-	-0.62	7.96
Other Non Operating Income (Expenses)	-	31.29	12.88	2.45	2.79
EBT Excluding Unusual Items	2,274	1,122	757.62	355.58	156.85
Gain (Loss) on Sale of Assets	12.19	6.37	18.51	-	21.24
Pretax Income	2,286	1,129	776.32	355.58	178.09
Income Tax Expense	803.04	517.94	330.99	146.91	42.45
Net Income	1,483	610.86	445.33	208.67	135.64
Net Income to Common	1,483	610.86	445.33	208.67	135.64
Net Income Growth	142.72%	37.17%	113.41%	53.85%	-7.12%
Shares Outstanding (Basic)	290	290	290	290	290
Shares Outstanding (Diluted)	290	290	290	290	290
Shares Change (YoY)	-0.08%	-	-	-	-
EPS (Basic)	5.12	2.11	1.54	0.72	0.47
EPS (Diluted)	5.12	2.11	1.54	0.72	0.47
EPS Growth	142.92%	37.17%	113.41%	53.85%	-7.12%
Free Cash Flow	2,023	-59.56	108.36	526.75	170.83
Free Cash Flow Per Share	6.99	-0.21	0.37	1.82	0.59
Dividend Per Share	-	1.200	1.000	0.700	0.400
Dividend Growth	-	20.00%	42.86%	75.00%	-
Gross Margin	44.29%	35.49%	33.99%	31.67%	31.88%
Operating Margin	17.04%	10.27%	9.20%	5.59%	3.34%
Profit Margin	11.41%	5.64%	5.59%	3.30%	2.73%
Free Cash Flow Margin	15.57%	-0.55%	1.36%	8.32%	3.44%
EBITDA	2,540	1,364	926.32	552.59	368.03
EBITDA Margin	19.55%	12.59%	11.63%	8.73%	7.41%
D&A For EBITDA	326.59	250.77	193.74	198.78	202.4
EBIT	2,213	1,113	732.58	353.81	165.64
EBIT Margin	17.04%	10.27%	9.20%	5.59%	3.34%
Effective Tax Rate	35.13%	45.88%	42.63%	41.32%	23.84%
Advertising Expenses	296.02	233.91	158.79	76.87	65.27

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