Morison Industries 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	150.1	22	16.74	14.59	5.42
Cash & Short-Term Investments	150.1	22	16.74	14.59	5.42
Cash Growth	582.40%	31.37%	14.77%	169.05%	69.33%
Accounts Receivable	113.35	32.69	13.41	26.4	26.92
Other Receivables	35.32	2.46	2.56	2.35	2.16
Receivables	148.67	35.15	15.97	28.74	29.08
Inventory	74.27	69.6	34.51	35.48	47.32
Prepaid Expenses	-	0.04	0.62	0.04	6.54
Other Current Assets	0	24.04	20.67	19.82	19.59
Total Current Assets	373.04	150.82	88.51	98.67	107.96
Property, Plant & Equipment	1,385	1,404	1,437	1,469	1,507
Other Long-Term Assets	-0	-	-	-	-
Total Assets	1,758	1,555	1,525	1,568	1,615
Accounts Payable	143.33	101.35	31.01	32.16	30.14
Accrued Expenses	17.98	198	196.42	192.08	171.52
Short-Term Debt	193.32	173.72	154.12	136.4	119.8
Current Income Taxes Payable	4.71	4.71	2.92	1.93	0.86
Current Unearned Revenue	-	43.38	52.01	28.18	8.95
Other Current Liabilities	377.83	67.66	43.76	33.37	31.96
Total Current Liabilities	737.17	588.82	480.25	424.12	363.22
Pension & Post-Retirement Benefits	0.52	0.52	0.52	0.52	0.52
Long-Term Deferred Tax Liabilities	184.16	184.16	184.16	184.16	184.16
Total Liabilities	921.85	773.5	664.93	608.79	547.89
Common Stock	494.58	494.58	494.58	494.58	494.58
Additional Paid-In Capital	84.48	84.48	84.48	84.48	84.48
Retained Earnings	-861.83	-916.28	-837.53	-738.81	-631.33
Comprehensive Income & Other	1,119	1,119	1,119	1,119	1,119
Shareholders' Equity	836.27	781.81	860.56	959.28	1,067
Total Liabilities & Equity	1,758	1,555	1,525	1,568	1,615
Total Debt	193.32	173.72	154.12	136.4	119.8
Net Cash (Debt)	-43.22	-151.73	-137.38	-121.81	-114.38
Net Cash Per Share	-0.04	-0.15	-0.14	-0.12	-0.12
Filing Date Shares Outstanding	989.16	989.16	989.16	989.16	989.16
Total Common Shares Outstanding	989.16	989.16	989.16	989.16	989.16
Working Capital	-364.13	-438	-391.74	-325.45	-255.25
Book Value Per Share	0.85	0.79	0.87	0.97	1.08
Tangible Book Value	836.27	781.81	860.56	959.28	1,067
Tangible Book Value Per Share	0.85	0.79	0.87	0.97	1.08
Land	1,474	1,046	1,046	1,046	1,046
Buildings	-	427.32	427.32	427.32	427.32
Machinery	141.77	130.6	130.03	128.66	127.29
Construction In Progress	10.3	7.83	7.83	7.83	7.83

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