Red Star Express Balance Sheet

Financials in millions NGN. Fiscal year is April - March.

Millions NGN. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Cash & Equivalents	1,327	1,368	1,119	589.14	460.34	954.97
Cash & Short-Term Investments	1,327	1,368	1,119	589.14	460.34	954.97
Cash Growth	75.98%	22.22%	89.99%	27.98%	-51.80%	-47.68%
Accounts Receivable	3,296	3,309	2,416	2,612	2,369	2,074
Other Receivables	60.37	-	-	16.42	33.26	1,118
Receivables	3,356	3,309	2,416	2,697	2,480	3,192
Inventory	92.4	73.14	70.64	98.03	91.71	66.54
Prepaid Expenses	526.94	322.96	184.37	183.08	78.57	275.26
Other Current Assets	1,796	1,880	1,818	1,333	1,308	-
Total Current Assets	7,099	6,954	5,608	4,899	4,419	4,489
Property, Plant & Equipment	3,173	2,957	3,355	3,330	3,035	2,834
Long-Term Investments	3.36	3.36	2.17	0.87	1.7	2.33
Other Intangible Assets	119.74	154.63	9.97	25.75	45.35	45.23
Other Long-Term Assets	190.08	210.59	268.77	401.94	251.47	168.34
Total Assets	10,585	10,279	9,244	8,658	7,752	7,539
Accounts Payable	1,120	1,743	1,145	1,852	1,092	763.37
Accrued Expenses	2,893	2,360	2,119	1,032	1,311	1,193
Current Portion of Long-Term Debt	-	113.31	262.43	138.42	104.57	104.57
Current Portion of Leases	84.42	45.5	27.05	27.38	21.5	123.64
Current Income Taxes Payable	265.72	283.85	124.48	204.26	227.53	176.23
Other Current Liabilities	741.02	618.92	440.56	308.6	319.96	358.25
Total Current Liabilities	5,104	5,165	4,118	3,563	3,076	2,719
Long-Term Debt	-	-	167.38	183.18	274.77	379.81
Long-Term Leases	13.64	13.64	47.66	55.14	68.47	56.79
Long-Term Deferred Tax Liabilities	216.91	216.63	236.61	278.75	139.42	150.18
Other Long-Term Liabilities	1.51	1.51	-	-	-	-
Total Liabilities	5,336	5,396	4,570	4,080	3,559	3,306
Common Stock	477.21	477.21	477.21	477.21	477.21	463.18
Additional Paid-In Capital	1,516	1,516	1,516	1,516	1,516	1,437
Retained Earnings	3,253	2,887	2,679	2,585	2,200	2,331
Comprehensive Income & Other	2.82	2.82	1.64	0.33	1.16	1.79
Shareholders' Equity	5,249	4,883	4,674	4,578	4,194	4,233
Total Liabilities & Equity	10,585	10,279	9,244	8,658	7,752	7,539
Total Debt	98.06	172.44	504.52	404.13	469.31	664.81
Net Cash (Debt)	1,229	1,196	614.78	185.01	-8.97	290.16
Net Cash Growth	140.15%	94.47%	232.29%	-	-	-81.05%
Net Cash Per Share	1.29	1.25	0.64	0.19	-0.01	0.30
Filing Date Shares Outstanding	954.42	954.42	954.42	954.42	954.45	954.42
Total Common Shares Outstanding	954.42	954.42	954.42	954.42	954.45	954.42
Working Capital	1,994	1,789	1,490	1,337	1,343	1,770
Book Value Per Share	5.50	5.12	4.90	4.80	4.39	4.44
Tangible Book Value	5,129	4,728	4,664	4,552	4,148	4,188
Tangible Book Value Per Share	5.37	4.95	4.89	4.77	4.35	4.39
Land	414.41	414.41	554.13	554.13	553.73	519.11
Buildings	1,239	1,166	536.67	536.67	532.56	511.17
Machinery	5,207	4,958	4,499	4,113	3,779	3,393
Construction In Progress	62.43	121.14	1,044	909.46	458.23	255.19

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