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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 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

Industrial & Medical Gases

IMG · Nigerian Exchange · Company statements

On this page
Company details
Legal name
Industrial & Medical Gases Nigeria Plc
Listing
IMG on the Nigerian Exchange, active · ISIN NGBOCGAS0008 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Revenue

    NGN 8.38 billion

    8,375,402 NGN thousands · p26

    −0.0% vs 2024

  • Operating profit / (loss)

    NGN 1.47 billion

    1,467,746 NGN thousands · p26

    −40.1% vs 2024

  • Profit / (loss) for the year

    NGN 990 million

    989,853 NGN thousands · p26

    −39.0% vs 2024

  • Total assets

    NGN 14.8 billion

    14,797,126 NGN thousands · p27

    −0.5% vs 2024

  • Total equity

    NGN 11.8 billion

    11,840,450 NGN thousands · p27

    +100.2% vs 2024

  • Cash from operations

    NGN 445 million

    445,469 NGN thousands · p29

    −76.1% vs 2024

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.

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

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Revenue 8,375,402 8,376,181
Cost of sales (4,304,115) (4,484,456)
Gross profit 4,071,287 3,891,725
Other income 112,079 32,392
Net (loss)/gain on foreign exchange transactions (109,937) 1,211,714
Other operating expenses (43,728) (38,245)
Selling and distribution expenses (931,360) (1,146,481)
Credit loss expense on trade receivables (55,836) (163,343)
Administrative expenses (1,574,759) (1,337,853)
Operating profit 1,467,746 2,449,909
Finance income 48,350 16,847
Finance expenses (6,253) (23,794)
Profit before income tax 1,509,843 2,442,962
Income tax expense (519,990) (820,222)
Profit for the year 989,853 1,622,740
Total comprehensive income for the year 989,853 1,622,740

Balance sheet

Balance sheet, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Property, plant and equipment 9,668,227 6,790,015
Right of use asset 10,600 14,986
Total non-current assets 9,678,827 6,805,001
Inventories 791,916 908,320
Trade and other receivables 1,051,692 1,226,683
Prepayments1 738,647 570,473
Other assets2 260,995 211,226
Short term deposits 30,508 4,631,551
Cash and cash equivalents 2,244,541 525,137
Total current assets 5,118,299 8,073,390
Total assets 14,797,126 14,878,391
Share capital 365,532 249,746
Capital contribution3 –4 357,651
Share premium 5,602,481 –4
Retained earnings 5,872,437 5,307,154
Total equity 11,840,450 5,914,551
Employee benefit obligation5 33,417 32,637
Loans and borrowings –6 3,921,944
Deferred tax liabilities 292,249 330,885
Total non-current liabilities 325,666 4,285,466
Income tax liabilities 585,449 1,078,326
Trade and other payables 1,769,375 2,066,274
Loans and borrowings 135,666 1,407,160
Contract liabilities 140,520 126,614
Total current liabilities 2,631,010 4,678,374
Total liabilities 2,956,676 8,963,840
Total equity and liabilities 14,797,126 14,878,391
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_equity.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
Notes and alternative reported figures (4)
  1. “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 20: current, printed apart from trade and other receivables.
  2. “Other assets” is an issuer-specific line, not mapped to a shared definition: Note 23: current assets.
  3. “Capital contribution” is an issuer-specific line, not mapped to a shared definition: Note 25b: equity.
  4. “Employee benefit obligation” is an issuer-specific line, not mapped to a shared definition: Note 27: long-service award obligation, non-current.

Cash flow

Cash flow, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Cash generated from operating activities 1,393,880 2,044,802
Long service awards paid1 (3,175) (6,873)
Income tax paid (945,236) (93,824)
Payment of litigation cost2 –3 (82,114)
Net cash flows from operating activities 445,469 1,861,991
Interest received on fixed deposit 48,350 16,847
Proceeds from sale of property, plant and equipment –4 22,132
Principal amount liquidated from short term deposit5 5,418,832 –4
Additional investment to short term deposit6 (28,161) (4,600,000)
Acquisition of property, plant and equipment (3,242,537) (3,430,704)
Net cash flows from/(used in) investing activities 2,196,484 (7,991,725)
Transaction cost of right issue7 (118,587) –8
Right Issue9 311,879 –8
Intercompany loan received –8 5,500,000
Principal repayment of intercompany loan –8 (350,000)
Interest paid on intercompany loan (807,610) (706,559)
Dividends paid (328,632) (196,441)
Net cash flows generated (used in)/from financing activities (942,950) 4,247,000
Net increase/(decrease) in cash and cash equivalents 1,699,003 (1,882,734)
Cash and cash equivalents at 1 January 525,137 2,288,304
Effect of exchange rate fluctuations on cash held 20,401 119,567
Cash and cash equivalents at 31 December 2,244,541 525,137
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (6)
  1. “Long service awards paid” is an issuer-specific line, not mapped to a shared definition: Operating activities, note 27a.
  2. “Payment of litigation cost” is an issuer-specific line, not mapped to a shared definition: Operating activities, note 30.
  3. “Principal amount liquidated from short term deposit” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 24b.
  4. “Additional investment to short term deposit” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 24b.
  5. “Transaction cost of right issue” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 24c.
  6. “Right Issue” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 24c: cash received from the 2025 rights issue.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Earnings / (loss) per share (per share)3 1.621 2.952
  1. Printed as 162 kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 295 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (1)
  1. Earnings / (loss) per share: printed as “Basic and diluted earnings per share (kobo)*”.

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.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividends paid (328,632) NGN thousands Annual report, p29
31 Dec 2024 Dividends paid (cash flow statement) Dividends paid (196,441) NGN thousands Annual report, p29

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.

  • Industrial & Medical Gases Nigeria Plc Annual Report and Financial statements For the year ended 31 December 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: Ernst & Young (Lagos), unmodified opinion · signed

    Auditor's sign-off: Williams I. Erimona, FCA, for Ernst & Young

    Final status: Independent auditor's report of Ernst & Young to the members (opinion PDF p21, scanned) closes on PDF p25 with the handwritten signature of Williams I. Erimona, FCA (FRC/2013/PRO/ICAN/004/00000002190), for Ernst & Young, Lagos, dated 31 March 2026, with the ICAN seal (page image). Statement of financial position (PDF p27): approved by the Board of Directors on 31 March 2026 and signed by the chairman, a director, the acting managing director/CEO and the finance controller (handwritten signatures, page image).

    Document date
    31 Mar 2026
    Auditor's report
    31 Mar 2026
    Board approval
    31 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    company statements · NGN thousands (printed “N'000”)
    • Interest received on fixed deposits is printed in investing activities and interest paid on the intercompany loan in financing activities (p29).
    • No other comprehensive income is printed: profit for the year equals total comprehensive income (p26).
    • The auditor's reports (internal-control attestation and financial-statement audit, PDF pp18-25) are scanned pages with no text layer; their content was read on the page images.
    • EPS printed in kobo (162; 2024: 295 restated for the 27 March 2025 bonus issue, note 17, p49); stored in naira with the printed figure and unit kept. Note 17 also prints an unrestated 2024 figure of 325 on an unlabelled line.
    Technical details
    File
    71 pages, with a text layer
    SHA-256
    8c658e8214bbedd7c5ac9f1e871086ea52fee64076c016873293d5d06da6fd68
    Entity as printed
    Industrial & Medical Gases Nigeria Plc (the Company)
    Exchange copy
    retrieved 2026-10-08T18:00:27Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 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.

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