Geregu Power 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	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
Revenue	171,416	184,936	137,127	82,909	47,619	70,957
Revenue Growth (YoY)	44.71%	34.87%	65.39%	74.11%	-32.89%	32.19%
Operations & Maintenance	1,023	1,284	1,504	6,572	273.31	253.67
Selling, General & Admin	8,272	8,343	5,241	2,959	1,578	2,223
Depreciation & Amortization	381.08	403.24	436.67	423.91	302.61	185.04
Amortization of Goodwill & Intangibles	-	-	-	4.69	6.52	6.52
Provision for Bad Debts	15,280	10,075	9,447	-723.51	3,559	743.37
Other Operating Expenses	109,827	118,285	76,824	43,200	27,013	39,598
Total Operating Expenses	134,784	138,390	93,454	52,436	32,732	43,010
Operating Income	36,632	46,546	43,673	30,473	14,887	27,947
Interest Expense	-11,472	-12,590	-10,227	-10,831	-7,326	-959.08
Interest Income	5,439	6,425	8,540	7,798	7,674	948.06
Net Interest Expense	-6,033	-6,164	-1,687	-3,033	348.16	-11.01
Currency Exchange Gain (Loss)	-12.84	-20.06	-619.09	502.27	157.25	1,649
Other Non-Operating Income (Expenses)	-213.86	-223.19	-146.67	-3,784	-55.11	-71.65
EBT Excluding Unusual Items	30,372	40,138	41,221	24,157	15,337	29,513
Gain (Loss) on Sale of Assets	2.57	-	-	-	-	-0.73
Insurance Settlements	1,818	1,818	-	-	-	-
Other Unusual Items	28.71	28.71	45.54	232.44	-168.71	-
Pretax Income	32,222	41,985	41,266	24,390	15,168	29,512
Income Tax Expense	13,298	14,735	13,841	8,337	4,997	8,962
Net Income	18,923	27,251	27,425	16,053	10,171	20,550
Net Income to Common	18,923	27,251	27,425	16,053	10,171	20,550
Net Income Growth	-19.11%	-0.64%	70.84%	57.82%	-50.51%	45.49%
Shares Outstanding (Basic)	2,500	2,500	2,500	2,500	2,500	2,500
Shares Outstanding (Diluted)	2,500	2,500	2,500	2,500	2,500	2,500
EPS (Basic)	7.57	10.90	10.97	6.42	4.07	8.22
EPS (Diluted)	7.57	10.90	10.97	6.42	4.07	8.22
EPS Growth	-19.11%	-0.64%	70.84%	57.82%	-50.51%	45.49%
Free Cash Flow	2,669	18,194	-14,766	54,613	7,835	25,849
Free Cash Flow Per Share	1.07	7.28	-5.91	21.84	3.13	10.34
Dividend Per Share	9.000	9.000	8.500	8.000	8.000	-
Dividend Growth	5.88%	5.88%	6.25%	-	-	-
Profit Margin	11.04%	14.74%	20.00%	19.36%	21.36%	28.96%
Free Cash Flow Margin	1.56%	9.84%	-10.77%	65.87%	16.45%	36.43%
EBITDA	40,304	51,514	54,393	33,052	17,443	32,559
EBITDA Margin	23.51%	27.86%	39.67%	39.87%	36.63%	45.88%
D&A For EBITDA	3,672	4,968	10,720	2,579	2,556	4,611
EBIT	36,632	46,546	43,673	30,473	14,887	27,947
EBIT Margin	21.37%	25.17%	31.85%	36.75%	31.26%	39.39%
Effective Tax Rate	41.27%	35.09%	33.54%	34.18%	32.94%	30.37%

Source: S&P Global Market Intelligence. Utility template. Financial Sources.