Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
Aluminium Extrusion Industries
On this page
Company details
- Legal name
- Aluminium Extrusion Industries Plc
- Listing
- ALEX on the Nigerian Exchange, active · ISIN NGALEX000003 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2024 · audited financial statements, signed / final · source
-
Revenue
NGN 2.78 billion
2,781,436 NGN thousands · p13
+33.2% vs 2023
-
Operating profit / (loss)
Not reported in this filing
-
Profit / (loss) for the year
−NGN 200 million
(200,249) NGN thousands · p13
Change not shown.
-
Total assets
NGN 4.08 billion
4,082,372 NGN thousands · p14
+32.7% vs 2023
-
Total equity
NGN 3.08 billion
3,080,251 NGN thousands · p14
+32.5% vs 2023
-
Cash from operations
−NGN 54.8 million
(54,792) NGN thousands · p16
−240.0% vs 2023
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Not shown: the prior-year figure is zero or negative.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2024 — audited financial statements, signed / final; reported for the year · source
- FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source
Income statement
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Revenue | 2,781,436 | 2,087,859 |
| Cost of sales | (2,734,036) | (1,970,915) |
| Gross profit | 47,400 | 116,944 |
| Other income | 25,077 | 29,431 |
| Gross profit plus other income (unlabelled subtotal)1 | 72,477 | 146,375 |
| Staff costs | (70,264) | (75,775) |
| Depreciation, amortization and provisions2 | (1,725) | (55,550) |
| Administrative expenses | (111,312) | (79,622) |
| Selling expenses | (23,070) | (25,504) |
| Administrative cost3 | (206,371) | (236,451) |
| Finance cost | (52,448) | (33,330) |
| Administrative and finance costs4 | (258,819) | (269,781) |
| Result for the year | (186,342) | (123,406) |
| Taxation (expense)/write-back | (13,907) | 356 |
| Loss for the year | (200,249) | (123,050) |
| - Fair-valuation of intangibles5 | 1,500 | –6 |
| - Revaluation gain7 | 954,950 | –6 |
| Other comprehensive income total | 957,950 | –6 |
| Total Comprehensive income | 757,701 | (123,050) |
- Printed “-”; reading unresolved, so no amount is shown. Printed dash, read on the page image (p13); recorded as printed and not interpreted as nil. Scanned (CamScanner) statement; the 2023 column of this line prints a dash.
Notes and alternative reported figures (6)
- “Gross profit plus other income (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal below other income.
- “Depreciation, amortization and provisions”: mapping to a shared definition is uncertain. One line for depreciation, amortisation and provisions (1,725); the cash flow adds back depreciation of 34,462 and amortisation of 500 (p16).
- “Administrative cost” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of staff costs, depreciation, administrative and selling expenses.
- “Administrative and finance costs” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: administrative cost plus finance cost.
- “- Fair-valuation of intangibles” is an issuer-specific line, not mapped to a shared definition: OCI item (note 16).
- “- Revaluation gain” is an issuer-specific line, not mapped to a shared definition: OCI item not reclassified (note 16): revaluation of property, plant and equipment.
Balance sheet
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Property, plant and equipment | 3,024,189 | 2,103,701 |
| Intangible assets | 1,500 | 500 |
| Non-current assets (unlabelled subtotal) | 3,025,689 | 2,104,201 |
| Inventories | 957,483 | 852,516 |
| Trade and other receivables | 14,195 | 6,833 |
| Cash and cash equivalents | 11,062 | 32,775 |
| Other current assets | 73,943 | 79,738 |
| Total Current Assets | 1,056,683 | 971,862 |
| Total assets (unlabelled total) | 4,082,372 | 3,076,063 |
| Share capital | 109,978 | 109,978 |
| Share premium | 124,956 | 124,956 |
| Revaluation reserve | 2,218,725 | 1,280,693 |
| Retained earnings | 626,592 | 808,423 |
| Equity (unlabelled subtotal) | 3,080,251 | 2,324,050 |
| Deferred taxation | 144,737 | 144,737 |
| Borrowings | –1 | 12,945 |
| Total Non-current liabilities | 144,737 | 157,682 |
| Short term borrowings2 | 204,689 | 123,217 |
| Trade and other payables | 602,477 | 425,285 |
| Current tax liabilities | 13,907 | 10,439 |
| Other current tax liabilities3 | 17,347 | 14,791 |
| Dividends | 13,850 | 13,850 |
| Other current liabilities | 5,114 | 6,749 |
| Total current liabilities | 857,384 | 594,331 |
| Total liabilities | 1,002,121 | 752,013 |
| Total equity and liabilities | 4,082,372 | 3,076,063 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
Notes and alternative reported figures (2)
- “Short term borrowings”: mapping to a shared definition is uncertain. Printed 'Short term borrowings' with note 21 (cash and cash equivalents); the cash flow's closing cash (193,627) is cash 11,062 less this amount, so it is the bank overdraft. OCR misreads labels and digits and misaligns rows on this CamScanner page; read on the page render.
- “Other current tax liabilities” is an issuer-specific line, not mapped to a shared definition: Note 31: withholding tax and other taxes payable.
Cash flow
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Net cash (used in) /provided by operating activities before tax paid1 | (44,353) | 73,595 |
| Income tax paid | (10,439) | (34,464) |
| Net cash fow (sed in)/provided by operating activities | (54,792) | 39,131 |
| Payment for property, plant and equipment | –2 | (42,799) |
| Proceed from sales of Property, plant and equipment | 17,000 | 11,950 |
| Net cash flow provided by/(used in) investing activities | 17,000 | (30,849) |
| Finance cost3 | (52,448) | (33,330) |
| Borrowings - medium term repayment | (12,945) | (11,223) |
| Unclained Dividend adjustment4 | –5 | 1,676 |
| Net cash flow used in financing activities | (65,393) | (42,877) |
| Net decrease in cash and cash equivalents | (103,185) | (34,595) |
| Cash and cash equivalents at 1 January | (90,442) | (55,847) |
| Cash and cash equivalents at 31 December | (193,627) | (90,442) |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (3)
- “Net cash (used in) /provided by operating activities before tax paid” is an issuer-specific line, not mapped to a shared definition: Operating subtotal before tax paid.
- “Finance cost”: mapping to a shared definition is uncertain. Printed 'Finance cost' in financing activities (interest paid). OCR misreads labels and digits and misaligns rows on this CamScanner page; read on the page render.
- “Unclained Dividend adjustment” is an issuer-specific line, not mapped to a shared definition: Financing activities (note 32).
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
No dividend statement or amount collected.
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Aluminium Extrusion Industries Plc Financial Statements 31 December 2024
Year ended 31 December 2024 · Audited financial statements · signed / final
Audit: Madu, Onyekwena & Co. (Chartered Accountants), unmodified opinion · signed
Auditor's sign-off: Chinedu Onyekwena (FRC/2013/ICAN/00000004886), for Madu, Onyekwena & Co.
Final status: Independent auditor's report signed (handwritten) by Chinedu Onyekwena (FRC/2013/ICAN/00000004886) for Madu, Onyekwena & Co with the ICAN seal, dated 27 March 2025 (PDF p12, page image). Statements approved by the board on 27 March 2025 and signed (handwritten) by the finance controller, the managing director and the chairman (PDF p14, page image).
- Document date
- 27 Mar 2025
- Published
- 31 Mar 2025
- Auditor's report
- 27 Mar 2025
- Board approval
- 27 Mar 2025
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- company statements · NGN thousands (printed “N'000”)
- Key audit matter 'Rising Costs of Production' (pp10-11): scarcity and price of locally sourced aluminium scrap, paucity of working capital and unreliable, costly power supply; the auditor's procedures found nothing adverse.
- Other comprehensive income (p13): fair-valuation of intangibles 1,500 plus revaluation gain 954,950 is 956,450, but 'Other comprehensive income total' is printed 957,950 (which is total comprehensive income 757,701 less the loss for the year (200,249)). Kept as printed.
- Scanned with CamScanner: the PDF's text layer holds only the word 'CamScanner' on each page; no hidden figures.
- The statement of cash flows starts from total comprehensive income and deducts the revaluation surplus (957,950) (p16). The income statement's 'Depreciation, amortization and provisions' (1,725) differs from the depreciation (34,462) and amortisation (500) added back in the cash flow. Total assets are printed without a label.
Technical details
- File
- 60 pages, scanned (figures read by OCR and checked against the page image)
- SHA-256
bc26717f8743660e36be5bba08a38f6bcadc8fbe1eda211c3cb46d86b95ba61a- Entity as printed
- Aluminium Extrusion Industries Plc
- Exchange copy
- retrieved 2026-10-08T18:06:46Z
Data notes
- Cost of sales — OCR read '(2.734,036)'; the page image shows '(2,734,036)'. OCR reads a full stop for the thousands comma; the render prints (2,734,036). (Aluminium Extrusion Industries Plc Financial Statements 31 December 2024, p13)
- Cost of sales — OCR read '(1.970.915)'; the page image shows '(1,970,915)'. OCR reads full stops for the thousands commas; the render prints (1,970,915). (Aluminium Extrusion Industries Plc Financial Statements 31 December 2024, p13)
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.