NGX:MTNN Income Statement

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	4,719,227	3,358,461	2,468,847	2,012,272	1,654,299	1,346,390
Other Revenue	3,848	2,369	-	-	-	-
Revenue	4,723,075	3,360,830	2,468,847	2,012,272	1,654,299	1,346,390
Revenue Growth (YoY)	54.04%	36.13%	22.69%	21.64%	22.87%	15.09%
Cost of Revenue	842,098	696,682	467,002	404,583	333,550	302,939
Gross Profit	3,880,977	2,664,148	2,001,845	1,607,689	1,320,749	1,043,451
Selling, General & Admin	1,296,953	1,169,236	675,761	460,569	389,328	310,199
Amortization of Goodwill & Intangibles	86,292	90,684	79,033	53,955	43,945	36,699
Other Operating Expenses	229,052	192,184	115,781	63,958	54,012	43,594
Operating Expenses	2,155,448	1,896,575	1,220,411	860,729	735,664	612,820
Operating Income	1,725,529	767,573	781,434	746,960	585,085	430,631
Interest Expense	-532,307	-427,346	-234,373	-145,653	-137,624	-133,692
Interest & Investment Income	40,482	26,921	24,494	12,783	11,892	12,509
Currency Exchange Gain (Loss)	35,150	-925,361	-740,434	-81,822	-22,374	-8,790
Other Non Operating Income (Expenses)	1,312	-4,302	-2,554	-1,105	-	70
EBT Excluding Unusual Items	1,270,166	-562,515	-171,433	531,163	436,979	300,728
Gain (Loss) on Sale of Investments	153	1,519	1,321	904	16	1,145
Gain (Loss) on Sale of Assets	2,440	2,193	752	1,381	1,692	-117
Asset Writedown	619	1,117	-4,221	-761	-500	-865
Legal Settlements	16,368	7,361	-4,305	-3,356	-	-
Other Unusual Items	-	-	-	-10,508	-1,500	-2,017
Pretax Income	1,289,746	-550,325	-177,886	518,823	436,687	298,874
Income Tax Expense	425,067	-149,890	-40,865	170,096	138,033	93,660
Earnings From Continuing Operations	864,679	-400,435	-137,021	348,727	298,654	205,214
Minority Interest in Earnings	-	987	3,180	2,655	-	-
Net Income	864,679	-399,448	-133,841	351,382	298,654	205,214
Net Income to Common	864,679	-399,448	-133,841	351,382	298,654	205,214
Net Income Growth	-	-	-	17.66%	45.53%	0.95%
Shares Outstanding (Basic)	20,967	20,967	20,967	20,967	20,355	20,355
Shares Outstanding (Diluted)	20,967	20,967	20,967	20,967	20,355	20,355
Shares Change (YoY)	-0.01%	-	-	3.01%	-	-
EPS (Basic)	41.24	-19.05	-6.38	16.76	14.67	10.08
EPS (Diluted)	41.24	-19.05	-6.38	16.76	14.67	10.08
EPS Growth	-	-	-	14.22%	45.53%	0.95%
Free Cash Flow	978,107	529,001	611,246	536,927	513,791	433,155
Free Cash Flow Per Share	46.65	25.23	29.15	25.61	25.24	21.28
Dividend Per Share	5.000	-	5.600	15.600	13.120	9.400
Dividend Growth	-	-	-64.10%	18.90%	39.57%	18.69%
Gross Margin	82.17%	79.27%	81.08%	79.89%	79.84%	77.50%
Operating Margin	36.53%	22.84%	31.65%	37.12%	35.37%	31.98%
Profit Margin	18.31%	-11.88%	-5.42%	17.46%	18.05%	15.24%
Free Cash Flow Margin	20.71%	15.74%	24.76%	26.68%	31.06%	32.17%
EBITDA	2,030,522	1,069,767	1,047,822	952,249	765,287	596,945
EBITDA Margin	42.99%	31.83%	42.44%	47.32%	46.26%	44.34%
D&A For EBITDA	304,993	302,194	266,388	205,289	180,202	166,314
EBIT	1,725,529	767,573	781,434	746,960	585,085	430,631
EBIT Margin	36.53%	22.84%	31.65%	37.12%	35.37%	31.98%
Effective Tax Rate	32.96%	-	-	32.78%	31.61%	31.34%
Advertising Expenses	-	45,129	50,902	31,958	21,453	15,144

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.