Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text and compared cell by cell with the page image) (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
NAHCO
On this page
Company details
- Legal name
- Nigerian Aviation Handling Company Plc
- Listing
- NAHCO on the Nigerian Exchange, active · ISIN NGNAHCO00008 (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 · audited financial statements, signed / final · source
-
Revenue
NGN 65.8 billion
65,819,025 NGN thousands · p32
+22.9% vs 2024
-
Operating profit / (loss)
NGN 25.0 billion
25,014,415 NGN thousands · p32
+26.1% vs 2024
-
Profit / (loss) for the year
NGN 17.5 billion
17,498,550 NGN thousands · p32
+36.0% vs 2024
-
Total assets
NGN 55.1 billion
55,119,781 NGN thousands · p33
+17.4% vs 2024
-
Total equity
NGN 26.0 billion
25,996,113 NGN thousands · p33
+29.5% vs 2024
-
Cash from operations
NGN 22.0 billion
22,030,147 NGN thousands · p37
−1.8% 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 — audited financial statements, signed / final; reported for the year · source
- FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Revenue from contract with customer | 65,819,025 | 53,543,213 |
| Operating costs | (27,041,238) | (20,460,115) |
| Gross profit | 38,777,787 | 33,083,098 |
| Other income | 644,997 | 1,040,023 |
| Administrative expenses | (13,791,530) | (13,822,741) |
| Expected credit losses | (616,839) | (461,800) |
| Profit from operations | 25,014,415 | 19,838,580 |
| Finance costs | (2,187,864) | (1,282,420) |
| Finance income | 1,453,517 | 145,982 |
| Profit before tax | 24,280,068 | 18,702,142 |
| Income tax expense | (6,781,518) | (5,837,381) |
| Profit for the year | 17,498,550 | 12,864,761 |
| Other comprehensive income | –1 | –1 |
| Total comprehensive income for the year, net of tax | 17,498,550 | 12,864,761 |
| Non-controlling interest2 | (15,748) | –3 |
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
- Printed “-”; reading unresolved, so no amount is shown. Printed dash (2024): the attribution total is unlabelled, so no printed subtotal confirms a nil reading.
Notes and alternative reported figures (1)
- “Non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Printed attribution.
Balance sheet
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Property, plant and equipment | 26,375,631 | 23,356,880 |
| Intangible assets | 1,046,071 | 191,836 |
| Investment property | 254,368 | 264,905 |
| Right-of-use assets | 2,202,466 | 604,259 |
| Investment in subsidiaries1 | –2 | –2 |
| Total non-current assets | 29,878,536 | 24,417,880 |
| Inventories | 1,649,337 | 895,638 |
| Trade and other receivables | 11,134,303 | 14,028,689 |
| Intercompany receivables3 | –4 | –4 |
| Intercompany loan5 | –4 | –4 |
| Prepayments6 | 1,250,943 | 1,451,077 |
| Cash and cash equivalents | 11,206,662 | 6,159,606 |
| Total current assets | 25,241,245 | 22,535,010 |
| Total assets | 55,119,781 | 46,952,890 |
| Share capital | 974,531 | 974,531 |
| Share premium | 1,752,336 | 1,752,336 |
| Retained earnings | 23,251,494 | 17,314,624 |
| Total equity attributable to equity holders of the Company | 25,978,361 | 20,041,491 |
| Non-controlling interests | 17,752 | 33,500 |
| Total equity | 25,996,113 | 20,074,991 |
| Lease liabilities | 2,368,230 | 1,105,025 |
| Deferred tax liabilities | 756,495 | 459,848 |
| Interest-bearing loan and borrowings | 1,208,507 | 3,505,781 |
| Total non-current liabilities | 4,333,232 | 5,070,654 |
| Current tax liabilities | 6,615,803 | 5,905,413 |
| Trade and other payables | 11,784,867 | 13,855,879 |
| Interest-bearing loan and borrowings | 4,265,720 | 1,821,253 |
| Lease liabilities | 103,278 | 27,169 |
| Deferred income7 | 2,020,768 | 197,531 |
| Total current liablities | 24,790,436 | 21,807,245 |
| Total liabilities | 29,123,668 | 26,877,899 |
| Total equity and liabilities | 55,119,781 | 46,952,890 |
| At 31 December8 | 426 | 1,322 |
| Bank overdraft (Note 28.2)9 | (1,807,304) | –10 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
- Printed “-”; reading unresolved, so no amount is shown. Printed dash (2024): no overdraft; the note's total equals the gross cash line.
Notes and alternative reported figures (7)
- “Investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 16; nil in the Group columns.
- “Intercompany receivables” is an issuer-specific line, not mapped to a shared definition: Note 20; nil in the Group columns.
- “Intercompany loan” is an issuer-specific line, not mapped to a shared definition: Note 20b; nil in the Group columns.
- “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 18: prepayments, printed apart from trade and other receivables.
- “Deferred income” is an issuer-specific line, not mapped to a shared definition: Note 29 (current liabilities).
- “At 31 December” is an issuer-specific line, not mapped to a shared definition: Note 22a: closing allowance; cash and cash equivalents for the statement of cash flows are stated before it (note 22.1).
- “Bank overdraft (Note 28.2)” is an issuer-specific line, not mapped to a shared definition: Note 22.1: bank overdraft deducted from cash and cash equivalents for the statement of cash flows.
Cash flow
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Cash generated from operations (unlabelled subtotal) | 26,000,471 | 24,219,517 |
| Taxation paid | (3,970,324) | (1,781,807) |
| Net cash flows from operating activities | 22,030,147 | 22,437,710 |
| Purchase of property, plant and equipment | (5,567,653) | (17,281,876) |
| Acquisition of intangible asset | (877,207) | (13,825) |
| Investment in subsidiary1 | –2 | –2 |
| Proceeds from disposal of property, plant and equipment | 23,083 | 7,609 |
| Dividend received from subsidiaries3 | –2 | –2 |
| Rent received4 | 1,972,904 | 324,738 |
| Interest received | 1,453,517 | 145,982 |
| Net cash flows used in investing activities | (2,995,356) | (16,817,372) |
| Interest paid | (1,706,666) | (1,021,895) |
| Lease payment | (816,826) | (182,744) |
| Loan received from bank | 50,000 | 6,073,246 |
| Loan repayment | (1,745,015) | (2,296,933) |
| Loan to related party5 | –6 | –6 |
| Related party loan repaid7 | –6 | –6 |
| Dividends paid to equity holders of the parent | (11,577,428) | (4,950,617) |
| Net cash flows used in financing activities | (15,795,935) | (2,378,943) |
| Net increase in cash and cash equivalent | 3,238,856 | 3,241,395 |
| Cash and cash equivalents at 1 January | 6,160,928 | 2,919,533 |
| Cash and cash equivalents at 31 December | 9,399,784 | 6,160,928 |
- 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 (5)
- “Investment in subsidiary” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 16); nil in the Group columns.
- “Dividend received from subsidiaries” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 6); nil in the Group columns.
- “Rent received” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 29).
- “Loan to related party” is an issuer-specific line, not mapped to a shared definition: Financing activities (note 20b); nil in the Group columns.
- “Related party loan repaid” is an issuer-specific line, not mapped to a shared definition: Financing activities (note 20b); nil in the Group columns.
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.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividends paid to equity holders of the parent |
(11,577,428) | NGN thousands | Audited financial statements, p38 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividends paid to equity holders of the parent |
(4,950,617) | NGN thousands | Audited financial statements, p38 |
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.
-
Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025
Year ended 31 December 2025 · Audited financial statements · signed / final
Audit: Ernst & Young, unmodified opinion · signed
Auditor's sign-off: Omolola Alebiosu, FRC/2012/PRO/ICAN/004/00000000145, for Ernst & Young
Final status: Independent auditor's report to the members (opinion PDF p28) signed (handwritten) by Omolola Alebiosu (FRC/2012/PRO/ICAN/004/00000000145) for Ernst & Young, Lagos, dated 31 March 2026, with the ICAN seal (PDF p31, page image). Statements approved by the board on 30 March 2026 and signed (handwritten) by the chairman (Dr. Seinde Oladapo Fadeni), the group managing director (Mr. Olumuyiwa Olumekun) and the CFO (Mr. Adeoye Emiloju) (PDF p34, page image).
- Document date
- 31 Mar 2026
- Auditor's report
- 31 Mar 2026
- Board approval
- 30 Mar 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- consolidated statements · NGN thousands (printed “N'000”)
- Key audit matter: determination of allowance for expected credit loss on trade receivables (PDF p29).
- Group retained earnings: the statement of financial position prints 23,251,494 (p33); note 26 prints 23,235,746 at 31 December 2025, adding total comprehensive income of 17,498,550 including the non-controlling interest's loss of 15,748 (p74). The statement's figure is transcribed.
- Cash and cash equivalents at 31 December in the cash-flow statement (9,399,784; 2024: 6,160,928) differ from the statement of financial position (11,206,662; 2024: 6,159,606): note 22.1 deducts a bank overdraft (1,807,304; 2024: nil) from cash of 11,207,088 (2024: 6,160,928) stated before the ECL allowance on short-term deposits (426; 2024: 1,322, note 22a) (PDF p73).
- Interest received is presented in investing activities and interest paid in financing activities (p38). The operating-activities reconciliation lines are not transcribed.
- Earnings per share is printed in kobo for the Group only, basic and diluted on one line (899; 2024: 660, p32); stored in naira (÷100) with the printed figure and unit kept.
Technical details
- File
- 95 pages, with a text layer
- SHA-256
d6f04c04e9b89c88205d5246d0b55812fa874798e3e561cae429695f7d76726e- Entity as printed
- Nigerian Aviation Handling Company Plc ("the Company") and its subsidiaries (together "the Group")
- Exchange copy
- retrieved 2026-10-08T18:00:09Z
Data notes
- Trade and other payables — OCR read '18,855,879'; the page image shows '13,855,879'. OCR reads the Group 2024 trade and other payables as 18,855,879; the page image prints 13,855,879. (Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025, p34)
- Interest-bearing loan and borrowings — OCR read '4,265.720'; the page image shows '4,265,720'. OCR reads a comma as a full stop; the page image prints 4,265,720. (Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025, p34)
- Lease liabilities — OCR read '103.278'; the page image shows '103,278'. OCR reads a comma as a full stop; the page image prints 103,278. (Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025, p34)
- Deferred income — OCR read '2.020,768'; the page image shows '2,020,768'. OCR reads a comma as a full stop; the page image prints 2,020,768. (Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025, p34)
- Total current liablities — OCR read '24.790,436'; the page image shows '24,790,436'. OCR reads a comma as a full stop; the page image prints 24,790,436. (Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025, p34)
- Total liabilities — OCR read '29.123,668'; the page image shows '29,123,668'. OCR reads a comma as a full stop; the page image prints 29,123,668. (Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025, p34)
- Total liabilities — OCR read '26.877,899'; the page image shows '26,877,899'. OCR reads a comma as a full stop; the page image prints 26,877,899. (Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025, p34)
- Total equity and liabilities — OCR read '55.119.781'; the page image shows '55,119,781'. OCR reads the commas as full stops; the page image prints 55,119,781. (Nigerian Aviation Handling Company Plc Annual Report and Audited Consolidated and Separate Financial Statements for the year ended 31 December 2025, p34)
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text and compared cell by cell with the page image) (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.