May & Baker Nigeria Balance Sheet

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
Cash & Equivalents	6,569	3,223	3,383	2,907	2,881
Cash & Short-Term Investments	6,569	3,223	3,383	2,907	2,881
Cash Growth	103.80%	-4.74%	16.39%	0.91%	-27.46%
Accounts Receivable	1,884	1,428	844.17	905.67	1,050
Other Receivables	57.18	118.88	90.69	73.62	23.16
Receivables	2,157	1,461	968.01	966.43	1,080
Inventory	8,905	10,077	8,886	7,429	8,100
Prepaid Expenses	297.18	354.29	362.25	356.92	421.13
Other Current Assets	214.13	191.63	155.99	133.73	87.69
Total Current Assets	18,142	15,307	13,755	11,792	12,569
Property, Plant & Equipment	6,311	5,964	5,421	5,012	3,864
Long-Term Investments	1,149	1,171	1,199	1,142	1,167
Other Intangible Assets	13.54	13.23	7.29	11.32	21.84
Other Long-Term Assets	-	0	0	-	-
Total Assets	25,615	22,456	20,382	17,957	17,622
Accounts Payable	1,286	4,515	2,050	1,140	466.78
Accrued Expenses	702.69	650.09	713.67	628.65	977.85
Short-Term Debt	2,641	3,268	4,388	2,514	3,297
Current Portion of Long-Term Debt	705.1	320.04	804.1	768.26	346.89
Current Income Taxes Payable	2,115	805.84	299.04	542.99	363.98
Current Unearned Revenue	225.04	83.46	157.6	151.72	196.84
Other Current Liabilities	308.78	352.87	384.47	372.69	425.72
Total Current Liabilities	7,983	9,995	8,797	6,118	6,075
Long-Term Debt	2,255	1,199	1,519	2,323	2,894
Long-Term Unearned Revenue	534.26	186.49	257.11	414.71	556.77
Pension & Post-Retirement Benefits	33.65	32.83	32.59	37.41	40.51
Long-Term Deferred Tax Liabilities	1,148	1,148	986.48	840.32	784.98
Other Long-Term Liabilities	-0	-0	-	0	0
Total Liabilities	11,954	12,563	11,593	9,733	10,351
Common Stock	862.62	862.62	862.62	862.62	862.62
Additional Paid-In Capital	3,012	3,012	3,012	3,012	3,012
Retained Earnings	9,378	5,610	4,507	3,941	2,989
Comprehensive Income & Other	408.15	408.14	408.14	408.14	408.14
Shareholders' Equity	13,661	9,893	8,790	8,224	7,272
Total Liabilities & Equity	25,615	22,456	20,382	17,957	17,622
Total Debt	5,601	4,788	6,712	5,605	6,537
Net Cash (Debt)	967.99	-1,565	-3,328	-2,698	-3,656
Net Cash Per Share	0.56	-0.91	-1.93	-1.56	-2.12
Filing Date Shares Outstanding	1,725	1,725	1,725	1,725	1,725
Total Common Shares Outstanding	1,725	1,725	1,725	1,725	1,725
Working Capital	10,158	5,312	4,958	5,675	6,494
Book Value Per Share	7.92	5.73	5.09	4.77	4.21
Tangible Book Value	13,647	9,880	8,782	8,213	7,250
Tangible Book Value Per Share	7.91	5.73	5.09	4.76	4.20
Land	-	334.67	334.67	334.67	334.67
Buildings	-	3,505	3,327	2,616	2,617
Machinery	-	7,614	6,499	5,470	5,164
Construction In Progress	-	81.57	129.87	1,121	161.32

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