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	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	18,158	13,346	8,374	2,980
Trading Asset Securities	11,182	11,211	15,983	-
Cash & Short-Term Investments	29,340	24,557	24,356	2,980
Cash Growth	-26.03%	0.82%	717.36%	-
Accounts Receivable	23,872	55,658	8,701	13,468
Other Receivables	25,426	-	3,707	5,062
Receivables	61,239	55,658	12,408	18,530
Inventory	-	11,812	10,986	5,241
Prepaid Expenses	3,386	-	1,643	1,374
Other Current Assets	81,278	49,382	69,390	32,234
Total Current Assets	175,243	141,408	118,782	60,359
Property, Plant & Equipment	10,437	12,649	14,691	3,193
Long-Term Investments	83,667	46,515	41,133	35,117
Goodwill	1,379	5,534	5,534	5,854
Other Intangible Assets	338.34	341.85	379.51	263.78
Long-Term Deferred Tax Assets	1,767	2,089	2,042	1,222
Other Long-Term Assets	58,361	24,833	17,183	23,777
Total Assets	356,875	295,669	219,277	151,521
Accounts Payable	10,287	16,795	8,086	1,973
Accrued Expenses	2,276	2,306	1,247	892.65
Current Portion of Long-Term Debt	20,875	20,875	9,028	9,028
Current Income Taxes Payable	3,357	3,092	1,772	1,626
Other Current Liabilities	146,549	90,607	92,088	52,802
Total Current Liabilities	183,344	133,676	112,220	66,321
Long-Term Debt	102,636	100,552	72,572	47,700
Long-Term Deferred Tax Liabilities	2,540	2,915	1,954	1,713
Other Long-Term Liabilities	-	-	0	3,186
Total Liabilities	288,520	237,143	186,747	118,921
Common Stock	3,801	633.43	95.01	95.01
Additional Paid-In Capital	15,946	19,217	7,880	7,880
Retained Earnings	16,258	11,455	5,190	11,148
Comprehensive Income & Other	14,460	10,800	7,434	6,690
Total Common Equity	50,464	42,105	20,599	25,813
Minority Interest	17,891	16,421	11,931	6,787
Shareholders' Equity	68,355	58,526	32,531	32,600
Total Liabilities & Equity	356,875	295,669	219,277	151,521
Total Debt	123,511	121,428	81,600	56,728
Net Cash (Debt)	-94,171	-96,871	-57,244	-53,748
Net Cash Per Share	-12.93	-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	-8,101	7,733	6,562	-5,962
Book Value Per Share	6.64	5.54	3.61	4.53
Tangible Book Value	48,747	36,230	14,686	19,694
Tangible Book Value Per Share	6.41	4.77	2.58	3.45
Land	970.9	830.48	1,232	1,435
Machinery	8,479	8,770	5,886	2,147
Construction In Progress	563.96	563.96	71.28	-
Leasehold Improvements	3,266	3,266	6,665	65.54

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