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SAHCO
On this page
Company details
- Legal name
- Skyway Aviation Handling Company Plc
- Listing
- SKYAVN on the Nigerian Exchange, active · ISIN NGSKYAVN0003 (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 44.5 billion
44,459,365 NGN thousands · p35
+53.6% vs 2024
-
Operating profit / (loss)
NGN 12.9 billion
12,857,929 NGN thousands · p35
+83.7% vs 2024
-
Profit / (loss) for the year
NGN 9.74 billion
9,741,630 NGN thousands · p35
+101.5% vs 2024
-
Total assets
NGN 82.7 billion
82,692,325 NGN thousands · p36
+97.9% vs 2024
-
Total equity
NGN 62.2 billion
62,209,749 NGN thousands · p36
+112.6% vs 2024
-
Cash from operations
NGN 12.7 billion
12,666,156 NGN thousands · p38
+152.9% 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
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Revenue | 44,459,365 | 28,941,270 |
| Direct Cost | (19,165,508) | (12,564,659) |
| Gross Profit | 25,293,857 | 16,376,611 |
| Other Operating Income | 239,121 | 200,223 |
| Administrative Expenses | (12,675,049) | (9,578,506) |
| Profit from operations | 12,857,929 | 6,998,328 |
| Finance Income | 127,818 | 287,848 |
| Finance Expense | (978,484) | (799,707) |
| Operating Profit Before Income Tax Expenses | 12,007,264 | 6,486,469 |
| Income Tax Expense | (2,265,634) | (1,652,883) |
| Profit for the year | 9,741,630 | 4,833,586 |
| Recognition of foreign exchange difference1 | (342,097) | 1,891,943 |
| (Reversal)/recognition of actuarial loss on defined benefit obligation2 | –3 | –3 |
| Recognition of related tax on defined benefit obligation4 | 442,437 | 165,944 |
| Gain on revaluation of PPE5 | 23,914,180 | –3 |
| Tax expense6 | –3 | –3 |
| Other comprehensive income for the year, net of tax | 24,014,520 | 2,057,888 |
| Total comprehensive income for the year | 33,756,150 | 6,891,473 |
- Printed “-”, read as nil: subtotal_arithmetic: is.other_comprehensive_income.
Notes and alternative reported figures (5)
- “Recognition of foreign exchange difference” is an issuer-specific line, not mapped to a shared definition: OCI, printed under 'Item that will not be reclassified' (note 28).
- “(Reversal)/recognition of actuarial loss on defined benefit obligation” is an issuer-specific line, not mapped to a shared definition: OCI (note 24).
- “Recognition of related tax on defined benefit obligation” is an issuer-specific line, not mapped to a shared definition: OCI (note 24).
- “Gain on revaluation of PPE” is an issuer-specific line, not mapped to a shared definition: OCI (note 12).
- “Tax expense” is an issuer-specific line, not mapped to a shared definition: OCI (note 32).
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Property, Plant and Equipment | 48,526,060 | 16,030,201 |
| Investment Properties | 709,850 | 720,807 |
| Intangible Assets | 4,103,698 | 4,077,558 |
| Deferred Tax Assets | 1,955,061 | 753,494 |
| Non-current assets (unlabelled subtotal) | 55,294,670 | 21,582,059 |
| Inventories | 2,183,258 | 2,705,769 |
| Trade and Other Receivables | 20,329,890 | 14,466,301 |
| Cash and Bank Balances | 4,202,806 | 2,193,204 |
| Short Term Investment | 681,700 | 832,404 |
| Current assets (unlabelled subtotal) | 27,397,655 | 20,197,679 |
| TOTAL ASSETS | 82,692,325 | 41,779,738 |
| Ordinary Share capital | 676,790 | 676,790 |
| Share Premium | 4,784,010 | 4,784,010 |
| Retained Earnings | 19,753,420 | 10,823,937 |
| Actuarial Valuation Reserve1 | 1,137,812 | 695,375 |
| Fair Value Reserve-Foreign Exchange2 | 2,854,642 | 3,196,739 |
| Revaluation Reserve | 33,003,075 | 9,088,895 |
| Equity (unlabelled subtotal) | 62,209,749 | 29,265,747 |
| Long Term Borrowings | 2,446,014 | 2,042,863 |
| Contract Liabilities3 | 43,254 | 7,948 |
| Defined Benefit Obligations | 4,948,781 | 3,593,931 |
| Non-current liabilities (unlabelled subtotal) | 7,438,049 | 5,644,742 |
| Trade Payable and Other Payables | 8,908,926 | 5,271,574 |
| Short Term Borrowings | 1,403,918 | 699,402 |
| Contract Liabilities | 173,017 | 31,791 |
| Income Tax Liabilities | 2,558,666 | 866,482 |
| Current liabilities (unlabelled subtotal) | 13,044,527 | 6,869,249 |
| TOTAL EQUITY AND LIABILITIES | 82,692,325 | 41,779,738 |
Notes and alternative reported figures (3)
- “Actuarial Valuation Reserve” is an issuer-specific line, not mapped to a shared definition: Note 27: remeasurement reserve on the defined benefit obligation.
- “Fair Value Reserve-Foreign Exchange” is an issuer-specific line, not mapped to a shared definition: Note 28.
- “Contract Liabilities” is an issuer-specific line, not mapped to a shared definition: Note 31; printed under NON-CURRENT LIABILITIES.
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Cash generated from operations | 14,977,219 | 6,690,562 |
| Tax Paid | (1,332,579) | (883,226) |
| Payment made by the employer on Employee Benefit1 | (548,946) | (468,650) |
| Finance Expenses Paid2 | (429,538) | (331,057) |
| Net cash inflow from operating activities | 12,666,156 | 5,007,629 |
| Purchase of Property, Plant and Equipment | (11,026,755) | (3,268,793) |
| Acquisition of Investment Properties3 | (21,000) | (18,000) |
| Net cash outflow used in investing activities | (11,102,775) | (3,286,793) |
| Dividend Paid | (812,148) | (406,074) |
| Loan Received | 2,000,000 | –4 |
| Repayment of Borrowings | (892,333) | (754,263) |
| Net cash inflow used in financing activities | 295,519 | (1,160,337) |
| Net increase/ (decrease) in cash and cash equivalents | 1,858,898 | 560,500 |
| Cash and cash equivalents at the beginning | 3,025,608 | 2,465,108 |
| Cash and cash equivalents at 31 December | 4,884,506 | 3,025,608 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (3)
- “Payment made by the employer on Employee Benefit” is an issuer-specific line, not mapped to a shared definition: Operating (note 10).
- “Finance Expenses Paid”: mapping to a shared definition is uncertain. Finance expenses paid, classified in operating activities; not split between borrowings and other finance costs.
- “Acquisition of Investment Properties” is an issuer-specific line, not mapped to a shared definition: Investing (note 14).
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) | Dividend Paid |
(812,148) | NGN thousands | Annual report, p38 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividend Paid |
(406,074) | NGN thousands | Annual report, 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.
-
Skyway Aviation Handling Company Plc Annual Report and Financial Statements for the year ended 31 December 2025
Year ended 31 December 2025 · Annual report · signed / final
Audit: Gbenga Badejo & Co. (Chartered Accountants), unmodified opinion · signed
Auditor's sign-off: Emmanuel Ogiaga, FCA, for Gbenga Badejo & Co.
Final status: Report of the independent auditors to the members of Skyway Aviation Handling Company Plc (PDF pp31-34; opinion p31), unmodified, with a handwritten signature above 'Emmanuel Ogiaga, FCA, FRC/2021/ICAN/PROF/00000024269, Gbenga Badejo & Co., (Chartered Accountants), Lagos State, Nigeria', the ICAN seal and 'Date: 30 March, 2026.' (p34, page image). Statements 'approved by the Board of Directors on 30 March, 2026' with handwritten signatures of Barr. (Dr.) Taiwo Afolabi (Chairman), Mrs. Adenike Aboderin (MD/CEO) and Mr. Abiodun Adegbesan (Executive Director Finance) (p36, page image).
- Document date
- 30 Mar 2026
- Auditor's report
- 30 Mar 2026
- Board approval
- 30 Mar 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- company statements · NGN thousands (printed “₦'000”)
- Cash flows (p38): 'Net cash outflow used in investing activities' 2025 is printed as (11,102,775), while the two investing rows printed sum to (11,047,755) ((11,026,755) + (21,000)); difference 55,020, kept as printed (page image checked; no further investing row is printed). The 2024 total adds. The 2025 net increase in cash is printed 1,858,898 while the three printed activity totals sum to 1,858,900 (difference 2, rounding), kept as printed. The cash-flow statement's first row is labelled 'Profit for the year' but prints the profit before tax.
- Key audit matter (p32): receivable loss impairment (note 17). No emphasis-of-matter or going-concern paragraph. Statement of financial position heading prints 'AS AT DECEMBER, 2025'. Total liabilities is not printed.
- OCI (p35): the two-line label '(Reversal)/recognition of actuarial loss on defined benefit obligation' carries '- -', and the row 'Recognition of related tax on defined benefit obligation' carries 442,437 (2024: 165,944), printed slightly below its label. The 442,437 equals the 2025 movement in the Actuarial Valuation Reserve (p36: 1,137,812 less 695,375), so the amounts may belong to the actuarial row; transcribed against the rows as printed.
Technical details
- File
- 88 pages, with a text layer
- SHA-256
e274168d0bd93bb5e112e0725cd0545305fa7a18e811c69dd4870488b853a2ed- Entity as printed
- SKYWAY AVIATION HANDLING COMPANY PLC (SAHCO PLC)
- Exchange copy
- retrieved 2026-10-08T18:00:57Z
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) (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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