United Capital 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
Interest and Dividend Income	12,622	15,558	8,525	13,820	8,901
Net Interest Income	12,622	15,558	8,525	13,820	8,901
Brokerage Commission	23,252	14,588	8,096	8,123	6,160
Trading & Principal Transactions	17,661	6,410	3,977	2,443	1,182
Gain on Sale of Investments (Rev)	16,442	1,010	850.61	-21.85	237.29
Other Revenue	2.38	23.58	2.13	2.11	4.03
Revenue Before Loan Losses	69,979	37,590	21,451	24,367	16,483
Provision for Loan Losses	-30.87	98.73	-8.23	-	-18.52
Revenue	70,010	37,491	21,460	24,367	16,502
Revenue Growth (YoY)	86.73%	74.71%	-11.93%	47.66%	31.29%
Salaries & Employee Benefits	5,698	5,350	3,538	2,339	1,588
Cost of Services Provided	1,874	958.82	471.07	1,340	1,150
Other Operating Expenses	16,456	10,675	7,850	3,560	2,453
Total Operating Expenses	25,487	17,981	20,272	8,060	5,636
Operating Income	44,522	19,511	1,188	16,307	10,866
Currency Exchange Gains	-10,571	4,990	24,212	1,883	1,367
Other Non-Operating Income (Expenses)	-872.92	838.93	231.21	646.75	253.84
EBT Excluding Unusual Items	34,948	27,967	26,322	19,158	12,280
Gain (Loss) on Sale of Investments	6,234	2,136	-9,018	-5,657	-362.36
Pretax Income	41,183	30,103	17,304	13,500	11,918
Income Tax Expense	13,036	6,000	5,885	3,847	658.86
Net Income	28,147	24,103	11,420	9,653	11,259
Net Income to Common	28,147	24,103	11,420	9,653	11,259
Net Income Growth	16.78%	111.06%	18.30%	-14.26%	44.14%
Shares Outstanding (Basic)	18,000	18,000	18,000	18,000	18,000
Shares Outstanding (Diluted)	18,000	18,000	18,000	18,000	18,000
EPS (Basic)	1.56	1.34	0.63	0.54	0.63
EPS (Diluted)	1.56	1.34	0.63	0.54	0.63
EPS Growth	16.50%	111.44%	18.09%	-14.26%	44.35%
Free Cash Flow	205,533	461,448	138,767	109,515	215,388
Free Cash Flow Per Share	11.42	25.64	7.71	6.08	11.97
Dividend Per Share	1.000	0.800	0.600	0.500	0.500
Dividend Growth	25.00%	33.33%	20.00%	-	114.32%
Operating Margin	63.59%	52.04%	5.54%	66.92%	65.85%
Profit Margin	40.20%	64.29%	53.22%	39.62%	68.23%
Free Cash Flow Margin	293.58%	1230.81%	646.64%	449.45%	1305.24%
Effective Tax Rate	31.65%	19.93%	34.01%	28.50%	5.53%
Revenue as Reported	58,548	43,431	45,895	26,896	18,065

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