United Capital Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Interest and Dividend Income	18,460	15,558	8,525	13,820	8,901	8,262
Net Interest Income	18,460	15,558	8,525	13,820	8,901	8,262
Brokerage Commission	20,619	14,588	8,096	8,123	6,160	3,471
Trading & Principal Transactions	12,736	6,410	3,977	2,443	1,182	753.23
Gain on Sale of Investments (Rev)	6,858	1,010	850.61	-21.85	237.29	-10.37
Other Revenue	23.69	23.58	2.13	2.11	4.03	4.39
Revenue Before Loan Losses	58,697	37,590	21,451	24,367	16,483	12,480
Provision for Loan Losses	1,037	98.73	-8.23	-	-18.52	-88.97
Revenue	57,660	37,491	21,460	24,367	16,502	12,569
Revenue Growth (YoY)	139.26%	74.71%	-11.93%	47.66%	31.29%	43.86%
Salaries & Employee Benefits	6,812	5,350	3,538	2,339	1,588	1,351
Cost of Services Provided	1,409	734.32	471.07	1,340	1,150	495.16
Other Operating Expenses	14,234	10,899	7,850	3,560	2,453	2,121
Total Operating Expenses	23,690	17,981	20,272	8,060	5,636	4,644
Operating Income	33,970	19,511	1,188	16,307	10,866	7,926
Currency Exchange Gains	-2,870	4,562	24,212	1,883	1,367	5.89
Other Non-Operating Income (Expenses)	1,041	1,267	231.21	646.75	253.84	343.25
EBT Excluding Unusual Items	34,929	27,967	26,322	19,158	12,280	8,275
Gain (Loss) on Sale of Investments	1,508	2,136	-9,018	-5,657	-362.36	-332.39
Pretax Income	36,386	30,103	17,304	13,500	11,918	7,948
Income Tax Expense	7,095	6,000	5,885	3,847	658.86	136.49
Net Income	29,291	24,103	11,420	9,653	11,259	7,811
Net Income to Common	29,291	24,103	11,420	9,653	11,259	7,811
Net Income Growth	54.70%	111.06%	18.30%	-14.26%	44.14%	57.06%
Shares Outstanding (Basic)	18,000	18,000	18,000	18,000	18,000	18,000
Shares Outstanding (Diluted)	18,000	18,000	18,000	18,000	18,000	18,000
EPS (Basic)	1.63	1.34	0.63	0.54	0.63	0.43
EPS (Diluted)	1.63	1.34	0.63	0.54	0.63	0.43
EPS Growth	54.86%	111.44%	18.09%	-14.26%	44.35%	56.82%
Free Cash Flow	510,588	461,448	138,767	109,515	215,388	52,274
Free Cash Flow Per Share	28.37	25.64	7.71	6.08	11.97	2.90
Dividend Per Share	0.800	0.800	0.600	0.500	0.500	0.233
Dividend Growth	-11.11%	33.33%	20.00%	-	114.32%	39.95%
Operating Margin	58.91%	52.04%	5.54%	66.92%	65.85%	63.06%
Profit Margin	50.80%	64.29%	53.22%	39.62%	68.23%	62.14%
Free Cash Flow Margin	885.52%	1230.81%	646.64%	449.45%	1305.24%	415.89%
Effective Tax Rate	19.50%	19.93%	34.01%	28.50%	5.53%	1.72%
Revenue as Reported	56,808	43,431	45,895	26,896	18,065	12,874

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.