Royal Exchange Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Total Interest & Dividend Income	569.4	-	444.04	365.93	329.19
Gain (Loss) on Sale of Investments	0.26	-	7.53	39.88	-
Other Revenue	1,231	-	1,330	592.58	240.52
Total Revenue	1,801	-	1,781	998.38	569.71
Revenue Growth (YoY)	-	-	78.43%	75.24%	50.49%
Amortization of Goodwill & Intangibles	-	-	-	-	1.62
Depreciation & Amortization	-	-	5.8	0.94	6.5
Selling, General & Administrative	558.41	-	488.04	836.01	291.11
Other Operating Expenses	-	-	0.52	-40.59	-
Total Operating Expenses	558.41	-	584.22	933.1	397.64
Operating Income	1,243	-	1,197	65.28	172.07
Interest Expense	-258.25	-	-206.25	-258.75	-229.22
Other Non Operating Income (Expenses)	-60.38	-	38.12	-17.05	-91.18
EBT Excluding Unusual Items	924.03	-	1,029	-210.51	-148.33
Asset Writedown	-	-	-	8.53	-
Pretax Income	924.03	-	1,029	-201.99	-148.33
Income Tax Expense	-	-	23.14	4.23	2.14
Earnings From Continuing Ops.	924.03	-	1,006	-206.22	-150.47
Earnings From Discontinued Ops.	-	-	-	-	-138
Net Income to Company	924.03	-	1,006	-206.22	-288.47
Minority Interest in Earnings	-	-	-	-	-0.73
Net Income	924.03	-	1,006	-206.22	-289.21
Net Income to Common	924.03	-	1,006	-206.22	-289.21
Shares Outstanding (Basic)	420,015	-	7,738	5,145	5,145
Shares Outstanding (Diluted)	420,015	-	7,738	5,145	5,145
Shares Change (YoY)	-	-	50.38%	-	-
EPS (Basic)	0.00	-	0.13	-0.04	-0.06
EPS (Diluted)	0.00	-	0.13	-0.04	-0.06
Free Cash Flow	1,101	-	-387	-1,160	1,145
Free Cash Flow Per Share	0.00	-	-0.05	-0.23	0.22
Operating Margin	69.00%	-	67.20%	6.54%	30.20%
Profit Margin	51.30%	-	56.47%	-20.66%	-50.76%
Free Cash Flow Margin	61.12%	-	-21.73%	-116.20%	200.96%
EBITDA	1,257	-	1,203	71.75	178.61
EBITDA Margin	69.78%	-	67.56%	7.19%	31.35%
D&A For EBITDA	14.19	-	6.29	6.47	6.54
EBIT	1,243	-	1,197	65.28	172.07
EBIT Margin	69.00%	-	67.20%	6.54%	30.20%
Effective Tax Rate	-	-	2.25%	-	-

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