VFD Group Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

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

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