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	67,008	62,882	34,007	12,143
Revenue	67,008	62,882	34,007	12,143
Revenue Growth (YoY)	42.64%	84.91%	180.07%	-
Cost of Revenue	1,856	1,885	735.01	-
Gross Profit	65,152	60,997	33,272	12,143
Selling, General & Admin	7,340	6,856	5,208	2,597
Other Operating Expenses	11,516	11,052	6,347	6,472
Operating Expenses	22,667	21,876	12,669	10,107
Operating Income	42,486	39,121	20,604	2,035
Interest Expense	-39,534	-37,588	-25,333	-
Earnings From Equity Investments	-74.64	34.39	375.14	334.81
Currency Exchange Gain (Loss)	1,975	2,115	2,130	1,088
Other Non Operating Income (Expenses)	957.53	957.53	715.86	-
EBT Excluding Unusual Items	5,810	4,640	-1,509	3,458
Gain (Loss) on Sale of Investments	883.9	859.66	28.05	2,719
Gain (Loss) on Sale of Assets	570.18	568.77	71.44	181.23
Asset Writedown	5,498	5,622	229.93	2,223
Other Unusual Items	-435.3	-440.99	158.64	-
Pretax Income	12,328	11,250	-1,021	8,582
Income Tax Expense	2,756	2,557	-270.59	1,746
Earnings From Continuing Operations	9,572	8,693	-750.44	6,836
Minority Interest in Earnings	-2,419	-2,428	-1,712	-1,476
Net Income	7,153	6,265	-2,463	5,360
Net Income to Common	7,153	6,265	-2,463	5,360
Shares Outstanding (Basic)	7,285	7,285	5,702	5,701
Shares Outstanding (Diluted)	7,285	7,285	5,702	5,701
Shares Change (YoY)	-4.17%	27.76%	0.02%	-
EPS (Basic)	0.98	0.86	-0.43	0.94
EPS (Diluted)	0.98	0.86	-0.43	0.94
Free Cash Flow	-37,577	-46,028	-13,530	20,774
Free Cash Flow Per Share	-5.16	-6.32	-2.37	3.64
Dividend Per Share	0.417	0.417	-	-
Gross Margin	97.23%	97.00%	97.84%	100.00%
Operating Margin	63.40%	62.21%	60.59%	16.76%
Profit Margin	10.67%	9.96%	-7.24%	44.14%
Free Cash Flow Margin	-56.08%	-73.20%	-39.79%	171.08%
EBITDA	44,378	41,175	21,565	2,703
EBITDA Margin	66.23%	65.48%	63.41%	22.26%
D&A For EBITDA	1,892	2,055	961.3	667.32
EBIT	42,486	39,121	20,604	2,035
EBIT Margin	63.40%	62.21%	60.59%	16.76%
Effective Tax Rate	22.36%	22.73%	-	20.34%
Advertising Expenses	-	1,548	1,817	-

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