May & Baker Nigeria 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	7,913	6,570	3,223	3,383	2,907	2,881
Cash & Short-Term Investments	7,913	6,570	3,223	3,383	2,907	2,881
Cash Growth	55.79%	103.83%	-4.74%	16.39%	0.91%	-27.46%
Accounts Receivable	2,572	1,884	1,428	844.17	905.67	1,050
Other Receivables	418.96	56.33	-120.83	-128.58	73.62	23.16
Receivables	3,085	2,156	1,461	968.01	966.43	1,080
Inventory	6,156	8,551	10,077	8,886	7,429	8,100
Prepaid Expenses	833.41	649.55	354.29	362.25	356.92	421.13
Other Current Assets	237.02	214.13	191.63	155.99	133.73	87.69
Total Current Assets	18,225	18,140	15,307	13,755	11,792	12,569
Property, Plant & Equipment	7,459	6,311	5,964	5,421	5,012	3,864
Long-Term Investments	1,138	1,151	1,171	1,199	1,142	1,167
Other Intangible Assets	17.76	13.54	13.23	7.29	11.32	21.84
Other Long-Term Assets	-	0	0	0	-	-
Total Assets	26,839	25,615	22,456	20,382	17,957	17,622
Accounts Payable	2,399	1,288	4,515	2,050	1,140	466.78
Accrued Expenses	438.93	559.36	650.09	713.67	628.65	977.85
Short-Term Debt	1,379	2,720	3,268	4,388	2,514	3,297
Current Portion of Long-Term Debt	724.98	705.1	320.04	804.1	768.26	346.89
Current Income Taxes Payable	2,572	1,972	805.84	299.04	542.99	363.98
Current Unearned Revenue	212.66	225.04	83.46	157.6	151.72	196.84
Other Current Liabilities	303.78	375.69	352.87	384.47	372.69	425.72
Total Current Liabilities	8,030	7,844	9,995	8,797	6,118	6,075
Long-Term Debt	2,062	2,255	1,199	1,519	2,323	2,894
Long-Term Unearned Revenue	491.94	534.26	186.49	257.11	414.71	556.77
Pension & Post-Retirement Benefits	30.77	33.65	32.83	32.59	37.41	40.51
Long-Term Deferred Tax Liabilities	1,297	1,297	1,148	986.48	840.32	784.98
Other Long-Term Liabilities	-	-0	-0	-	0	0
Total Liabilities	11,912	11,964	12,563	11,593	9,733	10,351
Common Stock	862.62	862.62	862.62	862.62	862.62	862.62
Additional Paid-In Capital	3,012	3,012	3,012	3,012	3,012	3,012
Retained Earnings	10,632	9,357	5,610	4,507	3,941	2,989
Comprehensive Income & Other	419.93	419.93	408.14	408.14	408.14	408.14
Shareholders' Equity	14,927	13,651	9,893	8,790	8,224	7,272
Total Liabilities & Equity	26,839	25,615	22,456	20,382	17,957	17,622
Total Debt	4,166	5,679	4,788	6,712	5,605	6,537
Net Cash (Debt)	3,747	890.24	-1,565	-3,328	-2,698	-3,656
Net Cash Per Share	2.17	0.52	-0.91	-1.93	-1.56	-2.12
Filing Date Shares Outstanding	1,725	1,725	1,725	1,725	1,725	1,725
Total Common Shares Outstanding	1,725	1,725	1,725	1,725	1,725	1,725
Working Capital	10,195	10,296	5,312	4,958	5,675	6,494
Book Value Per Share	8.65	7.91	5.73	5.09	4.77	4.21
Tangible Book Value	14,909	13,638	9,880	8,782	8,213	7,250
Tangible Book Value Per Share	8.64	7.90	5.73	5.09	4.76	4.20
Land	334.67	334.67	334.67	334.67	334.67	334.67
Buildings	3,574	3,559	3,505	3,327	2,616	2,617
Machinery	9,694	8,658	7,614	6,499	5,470	5,164
Construction In Progress	395.06	88.01	81.57	129.87	1,121	161.32