Trans-Nationwide Express Income Statement

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
Revenue	196.78	261.01	527.26	698.63	678.51
Revenue Growth (YoY)	-24.61%	-50.50%	-24.53%	2.96%	1.48%
Cost of Revenue	204.97	218.44	420.88	535.63	638.09
Gross Profit	-8.2	42.57	106.38	163	40.42
Selling, General & Admin	141.1	169.32	126.67	148.4	140.42
Amortization of Goodwill & Intangibles	3.09	5.48	4.23	5.23	2.37
Operating Expenses	203.11	190.85	162.95	178.74	190.9
Operating Income	-211.31	-148.27	-56.58	-15.74	-150.48
Interest & Investment Income	0.51	19.96	0.3	0.2	0.46
Currency Exchange Gain (Loss)	-0.01	13.55	76.64	57.54	73.11
Other Non Operating Income (Expenses)	21.99	-5.32	-6.97	-4.18	-2.25
EBT Excluding Unusual Items	-188.82	-120.08	13.39	37.82	-79.16
Gain (Loss) on Sale of Investments	1.37	3.07	6.54	2.87	0.08
Gain (Loss) on Sale of Assets	1.55	2.35	8.49	2.39	31.11
Other Unusual Items	-	-	-0	-0	-
Pretax Income	-185.9	-112.69	37.67	43.33	-34.27
Income Tax Expense	-9.18	-14.8	21.64	18.11	5.44
Net Income	-176.72	-97.89	16.03	25.22	-39.71
Net Income to Common	-176.72	-97.89	16.03	25.22	-39.71
Net Income Growth	-	-	-36.45%	-	-
Shares Outstanding (Basic)	498	498	498	498	498
Shares Outstanding (Diluted)	498	498	498	498	498
Shares Change (YoY)	-	-	-	-0.00%	-
EPS (Basic)	-0.35	-0.20	0.03	0.05	-0.08
EPS (Diluted)	-0.35	-0.20	0.03	0.05	-0.08
EPS Growth	-	-	-36.78%	-	-
Free Cash Flow	-84.94	30.64	20.17	60.55	-37.51
Free Cash Flow Per Share	-0.17	0.06	0.04	0.12	-0.07
Dividend Per Share	-	-	0.020	0.020	-
Gross Margin	-4.17%	16.31%	20.18%	23.33%	5.96%
Operating Margin	-107.39%	-56.81%	-10.73%	-2.25%	-22.18%
Profit Margin	-89.81%	-37.50%	3.04%	3.61%	-5.85%
Free Cash Flow Margin	-43.17%	11.74%	3.83%	8.67%	-5.53%
EBITDA	-197.43	-123.68	-24.82	28.38	-83.94
EBITDA Margin	-100.33%	-47.38%	-4.71%	4.06%	-12.37%
D&A For EBITDA	13.88	24.59	31.76	44.11	66.54
EBIT	-211.31	-148.27	-56.58	-15.74	-150.48
EBIT Margin	-107.38%	-56.81%	-10.73%	-2.25%	-22.18%
Effective Tax Rate	-	-	57.45%	41.80%	-
Advertising Expenses	-	-	0.2	-	-

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