Namibia Asset Management Income Statement

Financials in millions NAD. Fiscal year is October - September.

Millions NAD. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Operating Revenue	93.25	81.35	78.47	90.27	90.95
Other Revenue	2.15	2.24	2.85	-0.14	2.47
Revenue	95.39	83.59	81.32	90.13	93.42
Revenue Growth (YoY)	14.12%	2.79%	-9.77%	-3.52%	-7.45%
Cost of Revenue	73.82	65.33	56.35	66.92	71.02
Gross Profit	21.57	18.26	24.97	23.21	22.4
Selling, General & Admin	4.42	3.05	6.52	6.65	3.31
Operating Expenses	5.41	4.56	7.95	8	4.5
Operating Income	16.16	13.7	17.02	15.21	17.9
Interest Expense	-0.32	-0.06	-0.14	-0.2	-0.3
Interest & Investment Income	1.99	2.35	1.68	1.16	1.13
Currency Exchange Gain (Loss)	-0.01	-0.01	-	-	-
EBT Excluding Unusual Items	17.82	15.98	18.57	16.18	18.74
Gain (Loss) on Sale of Assets	-	-	-	0	-
Other Unusual Items	-	-	-	0.01	-
Pretax Income	17.82	15.98	18.57	16.19	18.74
Income Tax Expense	5.38	4.95	5.64	5.41	5.01
Net Income	12.44	11.03	12.93	10.78	13.73
Net Income to Common	12.44	11.03	12.93	10.78	13.73
Net Income Growth	12.79%	-14.72%	20.00%	-21.49%	-9.84%
Shares Outstanding (Basic)	158	158	156	156	156
Shares Outstanding (Diluted)	172	170	173	172	162
Shares Change (YoY)	1.24%	-1.26%	0.34%	6.48%	2.85%
EPS (Basic)	0.08	0.07	0.08	0.07	0.09
EPS (Diluted)	0.07	0.06	0.07	0.06	0.08
EPS Growth	11.44%	-13.73%	19.62%	-26.24%	-12.37%
Free Cash Flow	3.32	13.18	27.49	12.33	6.73
Free Cash Flow Per Share	0.02	0.08	0.16	0.07	0.04
Dividend Per Share	0.060	0.060	0.060	0.060	0.070
Dividend Growth	-	-	-	-14.29%	-
Gross Margin	22.61%	21.85%	30.70%	25.75%	23.98%
Operating Margin	16.94%	16.38%	20.93%	16.87%	19.16%
Profit Margin	13.04%	13.20%	15.91%	11.96%	14.70%
Free Cash Flow Margin	3.48%	15.77%	33.80%	13.69%	7.21%
EBITDA	16.27	14.15	17.47	15.67	18.25
EBITDA Margin	17.06%	16.92%	21.48%	17.38%	19.53%
D&A For EBITDA	0.11	0.45	0.45	0.46	0.34
EBIT	16.16	13.7	17.02	15.21	17.9
EBIT Margin	16.94%	16.38%	20.93%	16.87%	19.16%
Effective Tax Rate	30.20%	30.96%	30.34%	33.40%	26.72%

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