VFD Group 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
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Other Revenue	34,145	30,019	6,096	12,143
Revenue	34,145	30,019	6,096	12,143
Revenue Growth (YoY)	79.10%	392.42%	-49.80%	-
Cost of Revenue	869.34	898.15	554.98	-
Gross Profit	33,276	29,121	5,541	12,143
Selling, General & Admin	6,088	5,604	3,391	2,597
Other Operating Expenses	12,671	12,206	8,348	6,472
Operating Expenses	21,177	20,387	12,853	10,107
Operating Income	12,099	8,734	-7,311	2,035
Earnings From Equity Investments	-109.02	-	375.14	334.81
Currency Exchange Gain (Loss)	2,155	2,295	2,130	1,088
Other Non Operating Income (Expenses)	-0	-	-241.68	-
EBT Excluding Unusual Items	12,199	11,029	-5,048	3,458
Gain (Loss) on Sale of Investments	24.24	-	3,322	2,719
Gain (Loss) on Sale of Assets	1.42	-	71.44	181.23
Asset Writedown	1,304	1,428	229.93	2,223
Other Unusual Items	5.69	-	404.27	-
Pretax Income	13,535	12,457	-1,021	8,582
Income Tax Expense	2,248	2,049	-270.59	1,746
Earnings From Continuing Operations	11,287	10,408	-750.44	6,836
Minority Interest in Earnings	-2,687	-2,696	-1,712	-1,476
Net Income	8,600	7,712	-2,463	5,360
Net Income to Common	8,600	7,712	-2,463	5,360
Shares Outstanding (Basic)	7,601	7,601	5,701	5,701
Shares Outstanding (Diluted)	7,601	7,601	5,701	5,701
Shares Change (YoY)	-	33.33%	0.00%	-
EPS (Basic)	1.13	1.01	-0.43	0.94
EPS (Diluted)	1.13	1.01	-0.43	0.94
Free Cash Flow	11,007	2,557	-17,166	20,774
Free Cash Flow Per Share	1.45	0.34	-3.01	3.64
Gross Margin	97.45%	97.01%	90.90%	100.00%
Operating Margin	35.43%	29.09%	-119.94%	16.76%
Profit Margin	25.19%	25.69%	-40.40%	44.14%
Free Cash Flow Margin	32.24%	8.52%	-281.58%	171.08%
EBITDA	14,207	11,005	-6,350	2,703
EBITDA Margin	41.61%	36.66%	-104.17%	22.26%
D&A For EBITDA	2,108	2,271	961.3	667.32
EBIT	12,099	8,734	-7,311	2,035
EBIT Margin	35.43%	29.09%	-119.93%	16.76%
Effective Tax Rate	16.61%	16.45%	-	20.34%
Advertising Expenses	-	1,016	-	-

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