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	1,774,635	1,527,919	729,443	418,348	333,272
Revenue Growth (YoY)	16.15%	109.46%	74.36%	25.53%	72.80%
Cost of Revenue	1,040,833	989,780	470,653	285,555	230,313
Gross Profit	733,802	538,140	258,791	132,793	102,960
Selling, General & Admin	78,018	66,143	45,393	32,919	24,763
Other Operating Expenses	-484.83	-122.21	-798.69	-13,662	-1,284
Operating Expenses	77,851	65,934	44,773	18,857	23,477
Operating Income	655,951	472,206	214,017	113,936	79,483
Interest Expense	-42,490	-29,907	-18,814	-8,722	-5,048
Interest & Investment Income	7,963	15,421	2,497	39.72	2,892
Currency Exchange Gain (Loss)	-101,153	-172,304	-81,865	-	-
Other Non Operating Income (Expenses)	1,259	-1,093	-7,712	1,976	141.8
Pretax Income	521,530	284,323	108,124	107,230	77,469
Income Tax Expense	3,142	18,325	-3,974	15,886	7,701
Net Income	518,388	265,998	112,097	91,344	69,768
Net Income to Common	518,388	265,998	112,097	91,344	69,768
Net Income Growth	94.88%	137.29%	22.72%	30.93%	97.05%
Shares Outstanding (Basic)	18,000	18,000	18,000	18,000	16,473
Shares Outstanding (Diluted)	18,000	18,000	18,000	18,000	16,473
Shares Change (YoY)	-	-	-	9.27%	-8.32%
EPS (Basic)	28.80	14.78	6.23	5.07	4.24
EPS (Diluted)	28.80	14.78	6.23	5.07	4.24
EPS Growth	94.88%	137.29%	22.72%	19.82%	114.93%
Free Cash Flow	381,927	512,840	-188,614	108,987	-106,412
Free Cash Flow Per Share	21.22	28.49	-10.48	6.05	-6.46
Dividend Per Share	28.000	13.000	5.500	4.500	3.500
Dividend Growth	115.39%	136.36%	22.22%	28.57%	-
Gross Margin	41.35%	35.22%	35.48%	31.74%	30.89%
Operating Margin	36.96%	30.90%	29.34%	27.23%	23.85%
Profit Margin	29.21%	17.41%	15.37%	21.83%	20.93%
Free Cash Flow Margin	21.52%	33.56%	-25.86%	26.05%	-31.93%
EBITDA	665,717	481,804	223,418	121,112	86,878
EBITDA Margin	37.51%	31.53%	30.63%	28.95%	26.07%
D&A For EBITDA	9,766	9,598	9,401	7,176	7,396
EBIT	655,951	472,206	214,017	113,936	79,483
EBIT Margin	36.96%	30.90%	29.34%	27.23%	23.85%
Effective Tax Rate	0.60%	6.44%	-	14.82%	9.94%
Advertising Expenses	31.84	11.38	76.01	81.72	21.19

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