Dangote Sugar Refinery Balance Sheet

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	Mar '26 Mar 31, 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
Cash & Equivalents	50,129	52,580	108,167	204,763	174,858	103,010
Cash & Short-Term Investments	50,129	52,580	108,167	204,763	174,858	103,010
Cash Growth	-49.36%	-51.39%	-47.17%	17.10%	69.75%	129.62%
Accounts Receivable	27,143	47,704	23,737	8,131	4,649	14,662
Other Receivables	2,795	23,300	23,095	20,011	16,666	5,928
Receivables	30,077	71,073	47,036	28,484	21,607	20,697
Inventory	153,519	175,883	199,014	62,381	51,207	60,655
Prepaid Expenses	5,234	381.73	3,783	745.01	254.1	131.32
Other Current Assets	39,872	43,407	67,957	104,189	86,747	30,334
Total Current Assets	278,831	343,324	425,957	400,562	334,673	214,828
Property, Plant & Equipment	638,483	613,409	616,645	167,083	157,762	144,678
Long-Term Deferred Tax Assets	8,924	9,193	8,231	33,145	-	-
Total Assets	926,238	965,926	1,050,833	600,790	492,434	359,506
Accounts Payable	94,967	69,844	76,894	33,434	20,364	23,231
Accrued Expenses	21,560	10,505	12,434	34,988	22,054	19,666
Short-Term Debt	144,563	250,045	168,406	-	218,243	154,413
Current Portion of Long-Term Debt	480,524	438,011	511,848	412,021	243.72	220.04
Current Portion of Leases	-	2,642	2,742	116.26	981.14	1,220
Current Income Taxes Payable	6,490	5,219	4,411	14,446	25,543	10,449
Current Unearned Revenue	7,573	7,465	12,041	17,792	6,161	4,506
Other Current Liabilities	11,811	8,117	10,023	8,417	13,848	4,838
Total Current Liabilities	767,488	791,849	798,798	521,214	307,438	218,543
Long-Term Debt	-	37,254	37,254	246.11	531.56	764.45
Long-Term Leases	2,874	97.76	2,553	83.95	-	1,135
Long-Term Deferred Tax Liabilities	7,745	7,745	-	-	13,238	10,432
Total Liabilities	778,107	836,945	838,605	521,544	321,208	230,875
Common Stock	6,073	6,073	6,073	6,073	6,073	6,073
Additional Paid-In Capital	6,321	6,321	6,321	6,321	6,321	6,321
Retained Earnings	-170,615	-189,781	-125,717	66,882	158,845	116,254
Comprehensive Income & Other	306,468	306,468	325,599	-	-	-
Total Common Equity	148,247	129,081	212,276	79,276	171,239	128,648
Minority Interest	-116.16	-100.96	-47.9	-30.4	-12.79	-16.75
Shareholders' Equity	148,131	128,980	212,228	79,246	171,226	128,631
Total Liabilities & Equity	926,238	965,926	1,050,833	600,790	492,434	359,506
Total Debt	627,961	728,049	722,803	412,467	219,999	157,752
Net Cash (Debt)	-577,833	-675,469	-614,636	-207,704	-45,141	-54,742
Net Cash Per Share	-47.57	-55.61	-50.60	-17.10	-3.72	-4.51
Filing Date Shares Outstanding	12,147	12,147	12,147	12,147	12,147	12,147
Total Common Shares Outstanding	12,147	12,147	12,147	12,147	12,147	12,147
Working Capital	-488,657	-448,525	-372,841	-120,652	27,234	-3,716
Book Value Per Share	12.20	10.63	17.48	6.53	14.10	10.59
Tangible Book Value	148,247	129,081	212,276	79,276	171,239	128,648
Tangible Book Value Per Share	12.20	10.63	17.48	6.53	14.10	10.59
Land	86,576	86,576	87,389	5,998	5,522	5,522
Buildings	39,516	39,106	38,934	21,555	21,475	18,255
Machinery	893,882	863,077	851,435	97,347	92,966	84,413
Construction In Progress	123,003	117,482	94,232	92,178	83,073	78,165