BUA Foods 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	1,804,175	1,527,919	729,443	418,348	333,272
Revenue Growth (YoY)	18.08%	109.46%	74.36%	25.53%	72.80%
Cost of Revenue	1,136,700	989,780	470,653	285,555	230,313
Gross Profit	667,475	538,140	258,791	132,793	102,960
Selling, General & Admin	104,496	66,143	45,393	32,919	24,763
Other Operating Expenses	-2,376	-1,112	-798.69	-13,662	-1,284
Operating Expenses	102,120	64,944	44,773	18,857	23,477
Operating Income	565,355	473,196	214,017	113,936	79,483
Interest Expense	-21,934	-29,907	-18,814	-8,722	-5,048
Interest & Investment Income	7,540	15,421	2,497	39.72	2,892
Currency Exchange Gain (Loss)	-16,092	-173,293	-81,865	-	-
Other Non Operating Income (Expenses)	0	-1,093	-7,712	1,976	141.8
Pretax Income	534,869	284,323	108,124	107,230	77,469
Income Tax Expense	27,134	18,325	-3,974	15,886	7,701
Net Income	507,735	265,998	112,097	91,344	69,768
Net Income to Common	507,735	265,998	112,097	91,344	69,768
Net Income Growth	90.88%	137.29%	22.72%	30.93%	97.05%
Shares Outstanding (Basic)	17,998	18,000	18,000	18,000	16,473
Shares Outstanding (Diluted)	17,998	18,000	18,000	18,000	16,473
Shares Change (YoY)	-0.01%	-	-	9.27%	-8.32%
EPS (Basic)	28.21	14.78	6.23	5.07	4.24
EPS (Diluted)	28.21	14.78	6.23	5.07	4.24
EPS Growth	90.90%	137.29%	22.72%	19.82%	114.93%
Free Cash Flow	286,864	473,284	-188,614	108,987	-106,412
Free Cash Flow Per Share	15.94	26.29	-10.48	6.05	-6.46
Dividend Per Share	-	13.000	5.500	4.500	3.500
Dividend Growth	-	136.36%	22.22%	28.57%	-
Gross Margin	37.00%	35.22%	35.48%	31.74%	30.89%
Operating Margin	31.34%	30.97%	29.34%	27.23%	23.85%
Profit Margin	28.14%	17.41%	15.37%	21.83%	20.93%
Free Cash Flow Margin	15.90%	30.98%	-25.86%	26.05%	-31.93%
EBITDA	575,143	482,794	223,418	121,112	86,878
EBITDA Margin	31.88%	31.60%	30.63%	28.95%	26.07%
D&A For EBITDA	9,788	9,598	9,401	7,176	7,396
EBIT	565,355	473,196	214,017	113,936	79,483
EBIT Margin	31.34%	30.97%	29.34%	27.23%	23.85%
Effective Tax Rate	5.07%	6.44%	-	14.82%	9.94%
Advertising Expenses	146.13	11.38	76.01	81.72	21.19

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