VFD Group Balance Sheet

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
Cash & Equivalents	21,764	13,346	8,374	2,980
Trading Asset Securities	11,140	11,211	15,983	-
Cash & Short-Term Investments	32,904	24,557	24,356	2,980
Cash Growth	-18.85%	0.82%	717.36%	-
Accounts Receivable	43,926	55,658	8,701	13,468
Other Receivables	15,723	-	3,707	5,062
Receivables	71,590	55,658	12,408	18,530
Inventory	-	11,812	10,986	5,241
Prepaid Expenses	3,029	-	1,643	1,374
Other Current Assets	66,898	49,382	69,390	32,234
Total Current Assets	174,421	141,408	118,782	60,359
Property, Plant & Equipment	8,623	12,649	14,691	3,193
Long-Term Investments	59,706	46,515	41,133	35,117
Goodwill	1,379	5,534	5,534	5,854
Other Intangible Assets	308.83	341.85	379.51	263.78
Long-Term Deferred Tax Assets	1,767	2,089	2,042	1,222
Other Long-Term Assets	53,549	24,833	17,183	23,777
Total Assets	320,629	295,669	219,277	151,521
Accounts Payable	6,106	16,795	8,086	1,973
Accrued Expenses	2,330	2,306	1,247	892.65
Current Portion of Long-Term Debt	20,875	20,875	9,028	9,028
Current Income Taxes Payable	2,838	3,092	1,772	1,626
Other Current Liabilities	117,877	90,607	92,088	52,802
Total Current Liabilities	150,026	133,676	112,220	66,321
Long-Term Debt	103,842	100,552	72,572	47,700
Long-Term Deferred Tax Liabilities	2,375	2,915	1,954	1,713
Other Long-Term Liabilities	0	-	0	3,186
Total Liabilities	256,243	237,143	186,747	118,921
Common Stock	633.43	633.43	95.01	95.01
Additional Paid-In Capital	19,217	19,217	7,880	7,880
Retained Earnings	18,418	11,455	5,190	11,148
Comprehensive Income & Other	11,288	10,800	7,434	6,690
Total Common Equity	49,556	42,105	20,599	25,813
Minority Interest	14,830	16,421	11,931	6,787
Shareholders' Equity	64,386	58,526	32,531	32,600
Total Liabilities & Equity	320,629	295,669	219,277	151,521
Total Debt	124,717	121,428	81,600	56,728
Net Cash (Debt)	-91,813	-96,871	-57,244	-53,748
Net Cash Per Share	-12.60	-13.30	-10.04	-9.43
Filing Date Shares Outstanding	7,601	7,601	5,701	5,701
Total Common Shares Outstanding	7,601	7,601	5,701	5,701
Working Capital	24,395	7,733	6,562	-5,962
Book Value Per Share	6.52	5.54	3.61	4.53
Tangible Book Value	47,869	36,230	14,686	19,694
Tangible Book Value Per Share	6.30	4.77	2.58	3.45
Land	2,749	830.48	1,232	1,435
Machinery	5,505	8,770	5,886	2,147
Construction In Progress	351.86	563.96	71.28	-
Leasehold Improvements	3,116	3,266	6,665	65.54

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