NGX:MTNN 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	Jun '26 Jun 30, 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
Operating Revenue	5,818,269	5,202,957	3,358,461	2,468,847	2,012,272	1,654,299
Other Revenue	-	1,479	2,369	-	-	-
Revenue	5,818,269	5,204,436	3,360,830	2,468,847	2,012,272	1,654,299
Revenue Growth	38.50%	54.86%	36.13%	22.69%	21.64%	22.87%
Cost of Revenue	1,410,976	895,102	696,682	467,002	404,583	333,550
Gross Profit	4,407,293	4,309,334	2,664,148	2,001,845	1,607,689	1,320,749
Selling, General & Admin	876,810	1,345,860	1,169,028	675,761	460,569	389,328
Amortization of Goodwill & Intangibles	95,857	90,216	90,684	79,033	53,955	43,945
Other Operating Expenses	320,262	220,300	192,392	115,781	63,958	54,012
Operating Expenses	1,955,005	2,230,414	1,896,575	1,220,411	860,729	735,664
Operating Income	2,452,288	2,078,920	767,573	781,434	746,960	585,085
Interest Expense	-505,036	-520,893	-427,346	-234,373	-145,653	-137,624
Interest & Investment Income	34,650	48,659	26,921	24,494	12,783	11,892
Currency Exchange Gain (Loss)	131,860	90,268	-925,361	-740,434	-81,822	-22,374
Other Non Operating Income (Expenses)	48,576	-4,015	-4,302	-2,554	-1,105	-
EBT Excluding Unusual Items	2,162,338	1,692,939	-562,515	-171,433	531,163	436,979
Gain (Loss) on Sale of Investments	2,266	2,499	1,519	1,321	904	16
Gain (Loss) on Sale of Assets	1,294	2,477	2,193	752	1,381	1,692
Asset Writedown	-145	-672	1,117	-4,221	-761	-500
Legal Settlements	-400	-1,214	7,361	-4,305	-3,356	-
Other Unusual Items	-	-	-	-	-10,508	-1,500
Pretax Income	2,165,353	1,696,029	-550,325	-177,886	518,823	436,687
Income Tax Expense	759,822	583,183	-149,890	-40,865	170,096	138,033
Earnings From Continuing Operations	1,405,531	1,112,846	-400,435	-137,021	348,727	298,654
Minority Interest in Earnings	-	-	987	3,180	2,655	-
Net Income	1,405,531	1,112,846	-399,448	-133,841	351,382	298,654
Net Income to Common	1,405,531	1,112,846	-399,448	-133,841	351,382	298,654
Net Income Growth	163.47%	-	-	-	17.66%	45.53%
Shares Outstanding (Basic)	20,964	20,970	20,970	20,967	20,967	20,355
Shares Outstanding (Diluted)	20,964	20,970	20,970	20,967	20,967	20,355
Shares Change	-0.03%	-	0.01%	-	3.01%	-
EPS (Basic)	67.05	53.07	-19.05	-6.38	16.76	14.67
EPS (Diluted)	67.05	53.07	-19.05	-6.38	16.76	14.67
EPS Growth	163.60%	-	-	-	14.22%	45.53%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Free Cash Flow	1,860,752	1,662,866	529,001	611,246	536,927	513,791
Free Cash Flow Per Share	88.76	79.30	25.23	29.15	25.61	25.24
Dividend Per Share	20.000	20.000	-	5.600	15.600	13.120
Dividend Growth	-	-	-	-64.10%	18.90%	39.57%
Gross Margin	75.75%	82.80%	79.27%	81.08%	79.89%	79.84%
Operating Margin	42.15%	39.95%	22.84%	31.65%	37.12%	35.37%
Profit Margin	24.16%	21.38%	-11.88%	-5.42%	17.46%	18.05%
Free Cash Flow Margin	31.98%	31.95%	15.74%	24.76%	26.68%	31.06%
EBITDA	2,886,794	2,423,133	1,069,767	1,047,822	952,249	765,287
EBITDA Margin	49.62%	46.56%	31.83%	42.44%	47.32%	46.26%
D&A For EBITDA	434,506	344,213	302,194	266,388	205,289	180,202
EBIT	2,452,288	2,078,920	767,573	781,434	746,960	585,085
EBIT Margin	42.15%	39.95%	22.84%	31.65%	37.12%	35.37%
Effective Tax Rate	35.09%	34.38%	-	-	32.78%	31.61%
Advertising Expenses	-	58,333	45,129	50,902	31,958	21,453