UPDC Plc (NGX:UPDC)

UPDC Plc Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	16,450	11,787	5,344	5,897	825.4	1,662
Revenue Growth (YoY)	149.60%	120.58%	-9.38%	614.43%	-50.35%	-22.95%
Cost of Revenue	12,091	8,388	3,442	4,289	685.13	1,742
Gross Profit	4,359	3,399	1,901	1,608	140.28	-79.54
Selling, General & Admin	3,168	2,522	1,748	1,352	908.52	942.64
Other Operating Expenses	-572.11	-362.33	-437.79	-240.29	-104.34	-135.3
Operating Expenses	2,778	2,324	1,395	954.37	1,529	437.53
Operating Income	1,580	1,075	505.83	653.36	-1,389	-517.07
Interest Expense	-471.76	-397.83	-423.19	-463.61	-763.71	-1,513
Interest & Investment Income	2,051	619.24	286.42	143.64	96.08	42.01
Earnings From Equity Investments	-	-	-5.51	-3.28	-1.47	0.8
Currency Exchange Gain (Loss)	-14.4	12.48	16.38	0.49	-	-
Other Non Operating Income (Expenses)	-9	-	-	-	-	-940
EBT Excluding Unusual Items	3,136	1,309	379.94	330.6	-2,058	-2,927
Gain (Loss) on Sale of Assets	-	-	-	-	297.33	2,824
Asset Writedown	-	-	-	-	-	-159.98
Other Unusual Items	-	-	-	-	143.39	-
Pretax Income	3,136	1,309	379.94	330.6	-1,617	-262.69
Income Tax Expense	1,076	472.01	158.43	130.07	142.97	115.02
Earnings From Continuing Operations	2,061	836.91	221.51	200.53	-1,760	-377.72
Earnings From Discontinued Operations	-	-	-	-	-116.29	-228.2
Net Income to Company	2,061	836.91	221.51	200.53	-1,877	-605.92
Minority Interest in Earnings	-1,070	-404.72	32.01	-40.87	-51.06	-11.78
Net Income	990.73	432.19	253.51	159.66	-1,928	-617.69
Net Income to Common	990.73	432.19	253.51	159.66	-1,928	-617.69
Net Income Growth	54.07%	70.48%	58.78%	-	-	-
Shares Outstanding (Basic)	18,560	18,560	18,560	18,560	18,560	13,706
Shares Outstanding (Diluted)	18,560	18,560	18,560	18,560	18,560	13,706
Shares Change (YoY)	-	-	-	-	35.42%	427.48%
EPS (Basic)	0.05	0.02	0.01	0.01	-0.10	-0.05
EPS (Diluted)	0.05	0.02	0.01	0.01	-0.10	-0.05
EPS Growth	56.10%	132.86%	16.25%	-	-	-
Free Cash Flow	4,938	7,997	1,919	2,754	-2,320	1,995
Free Cash Flow Per Share	0.27	0.43	0.10	0.15	-0.13	0.15
Dividend Per Share	0.010	0.010	-	-	-	-
Gross Margin	26.50%	28.84%	35.58%	27.26%	16.99%	-4.78%
Operating Margin	9.61%	9.12%	9.47%	11.08%	-168.27%	-31.10%
Profit Margin	6.02%	3.67%	4.74%	2.71%	-233.53%	-37.16%
Free Cash Flow Margin	30.02%	67.85%	35.91%	46.70%	-281.04%	120.02%
EBITDA	1,790	1,384	621.5	691.5	-1,374	-508.65
EBITDA Margin	10.88%	11.74%	11.63%	11.73%	-166.41%	-30.60%
D&A For EBITDA	209.42	308.88	115.67	38.15	15.3	8.41
EBIT	1,580	1,075	505.83	653.36	-1,389	-517.07
EBIT Margin	9.61%	9.12%	9.47%	11.08%	-168.27%	-31.10%
Effective Tax Rate	34.29%	36.06%	41.70%	39.34%	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.