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Umeme

UMEM · Uganda Securities Exchange; also UMME · Nairobi Securities Exchange · Incorporated in Uganda · Company statements

On this page
Company details
Legal name
Umeme Limited
Incorporated in
Uganda
Primary listing
UMEM on the Uganda Securities Exchange, active · ISIN UG0000001145 (observed 2026-10-05)
Also listed
UMME on the Nairobi Securities Exchange, active · ISIN KE2000005815 (observed 2026-10-07)
Sector
Electricity distribution (our classification from the stated principal activity)
Activity
Electricity distribution under a concession that ended on 31 March 2025.
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, signed / final · source

Read with these figures

  • Going-concern warning. The auditor's report for the year ended 31 December 2025 states a material uncertainty about whether the company can continue as a going concern.
  • Change in operations. The electricity distribution concession, the Company's key business, ended on 31 March 2025; 2025 revenue and costs cover about three months of operations, so 2025 and 2024 are not comparable as operating years. No change rates are shown.
Full wording and sources

  • Auditor's report, year to 2025-12-31: material uncertainty related to going concern

    Material uncertainty related to going concern: the Concession, which was the Company's key business, came to its natural end on 31 March 2025 and thereafter the Company is not generating revenue or cash from operations and financing activities, the Company incurred a loss of Ushs 224 billion for the year ended 31 December 2025 (2024: loss of Ushs 511 million) and ... the Company's total and current liabilities exceeded total and current assets by Ushs 354 billion. ... Our opinion is not modified in respect of this matter.

    Source: Annual report and audited financial statements for the year ended 31 December 2025, p11 (dated 2026-03-31)

  • Wording in the auditor's report

    The auditor's material-uncertainty paragraph (p11, page image) prints the 2024 loss as 'Ushs 511 million'; the statements print (510,568) in Ushs million, i.e. about Ushs 511 billion. Suspected wording error in the auditor's report; kept as printed.

    Source: Annual report and audited financial statements for the year ended 31 December 2025 (dated 2026-03-31)

  • Change in operations: periods not directly comparable

    The electricity distribution concession, the Company's key business, ended on 31 March 2025; 2025 revenue and costs cover about three months of operations, so 2025 and 2024 are not comparable as operating years. The statements are not presented as discontinued operations.

    Source: Annual report and audited financial statements for the year ended 31 December 2025 (dated 2026-03-31)

  • Revenue

    UGX 530 billion

    530,035 UGX millions · p15

    Change not shown.

  • Operating profit / (loss)

    −UGX 175 billion

    (175,176) UGX millions · p15

    Change not shown.

  • Profit / (loss) for the year

    −UGX 224 billion

    (223,594) UGX millions · p15

    Change not shown.

  • Total assets

    UGX 143 billion

    143,313 UGX millions · p17

    Change not shown.

  • Total equity

    −UGX 354 billion

    (353,989) UGX millions · p17

    Change not shown.

  • Cash from operations

    UGX 75.0 billion

    75,008 UGX millions · p19

    Change not shown.

Large amounts are rounded for reading (UGX million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

No change rate is shown: The electricity distribution concession, the Company's key business, ended on 31 March 2025; 2025 revenue and costs cover about three months of operations, so 2025 and 2024 are not comparable as operating years. The statements are not presented as discontinued operations.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in UGX millions 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; reported for the year · source
  • FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, UGX millions. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementsreported for the yearFY2023Audited financial statementscomparative in FY2024 filing
Revenue from contracts with customers 530,035 2,314,768 2,196,363
Cost of sales (430,152) (1,492,892) (1,449,641)
GROSS PROFIT 99,883 821,876 746,722
Repair and maintenance expenses1 (11,507) (63,287) (51,296)
Administration expenses (107,171) (279,827) (210,609)
Net foreign exchange (loss)/gains2 (7,379) 2,344 1,108
Increase in expected credit losses (12,754) (360,908) (1,597)
(LOSS)/PROFIT BEFORE AMORTISATION, IMPAIRMENT, INTEREST AND TAX34 (38,928) 120,198 484,328
Amortisation impairment and write off of intangible assets5 (136,248) (699,148) (442,122)
OPERATING LOSS6 (175,176) (578,950) 42,206
Finance income 6,294 5,396 17,959
Finance costs (42,836) (29,218) (44,781)
LOSS BEFORE TAX7 (211,718) (602,772) 15,384
Income tax (charge)/credit8 (11,876) 92,204 (3,914)
LOSS FOR THE YEAR9 (223,594) (510,568) 11,470
Differences on translation from functional currency to presentation currency (11,376) (16,123) 19,614
Total comprehensive loss for the year, net of tax10 (234,970) (526,691) 31,084
Notes and alternative reported figures (10)
  1. “Repair and maintenance expenses” is an issuer-specific line, not mapped to a shared definition: Network repair and maintenance (note 8).
  2. Printed under different labels across filings: “Net foreign exchange (loss)/gains”; “Net foreign exchange gains”.
  3. “(LOSS)/PROFIT BEFORE AMORTISATION, IMPAIRMENT, INTEREST AND TAX” is an issuer-specific line, not mapped to a shared definition: Issuer-defined subtotal printed on the face of the income statement: gross profit less repair and maintenance, administration, foreign exchange and expected credit losses. Not labelled EBITDA by the issuer and not mapped to it.
  4. Printed under different labels across filings: “(LOSS)/PROFIT BEFORE AMORTISATION, IMPAIRMENT, INTEREST AND TAX”; “PROFIT BEFORE AMORTISATION, IMPAIRMENT, INTEREST AND TAX”.
  5. “Amortisation impairment and write off of intangible assets” is an issuer-specific line, not mapped to a shared definition: Concession intangible assets (note 11); combines amortisation, impairment and write-offs.
  6. Printed under different labels across filings: “OPERATING (LOSS)/PROFIT”; “OPERATING LOSS”.
  7. Printed under different labels across filings: “(LOSS)/PROFIT BEFORE TAX”; “LOSS BEFORE TAX”.
  8. Printed under different labels across filings: “Income tax (charge)/credit”; “Income tax credit/(charge)”.
  9. Printed under different labels across filings: “(LOSS)/PROFIT FOR THE YEAR”; “LOSS FOR THE YEAR”.
  10. Printed under different labels across filings: “Total comprehensive (loss)/income for the year, net of tax”; “Total comprehensive loss for the year, net of tax”.

Balance sheet

Balance sheet, UGX millions. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementsreported for the yearFY2023Audited financial statementscomparative in FY2024 filing
Deferred tax asset –1 3,033 –1
Non-current assets –2 3,033 1,519,852
Intangible assets3 –4 145,300 –4
Other financial asset5 –4 434,847 –4
Concession financial asset6 –4 337,757 347,639
Inventories –4 69,535 73,294
Contract assets –4 60,616 42,678
Income tax recoverable 1,555 Not reported in this filing87 Not reported in this filing8
Trade and other receivables 24,808 296,304 307,574
Prepayments9 367 8,354 13,380
Bank balances 116,583 32,973 42,818
Current assets 143,313 1,385,686 827,383
TOTAL ASSETS 143,313 1,388,719 2,347,235
Issued capital 27,748 27,748 27,748
Share premium 70,292 70,292 70,292
Accumulated losses10 (654,441) (70,346) 609,430
Translation reserve11 202,412 213,788 229,911
Equity (353,989) 241,482 937,381
Concession financial obligation12 –13 337,757 347,639
Employee incentive plan liabilities14 –13 44,011 –13
Contract liabilities –13 46,401 86,163
Accrued expenses15 1,729 33,515 14,335
Provisions 1,196 1,213 1,913
Trade and other payables 494,377 625,505 663,626
Current income tax payable –13 593 19,811
Bank overdrafts –13 58,242 91,192
Current liabilities 497,302 1,147,237 1,224,690
TOTAL EQUITY AND LIABILITIES 143,313 1,388,719 2,347,235
Intangible assets Not reported in this filing16 –1 445,174
Other financial asset5 Not reported in this filing17 –1 1,074,678
Deferred tax liability Not reported in this filing18 –19 173,708
Employee incentive plan liabilities14 Not reported in this filing20 –19 11,456
Non-current liabilities Not reported in this filing21 –22 185,164
Customer security deposits23 Not reported in this filing24 –13 11
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: narrative: Deferred tax asset (the only non-current asset line is printed '-' for 2025, so its printed subtotal '-' is nil).
  3. Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
  4. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
  5. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
  6. Printed “-”, read as nil: narrative: Deferred tax liability; Employee incentive plan liabilities (both non-current lines are printed '-' for 2024, and so is their subtotal).
Notes and alternative reported figures (18)
  1. “Intangible assets” is an issuer-specific line, not mapped to a shared definition: Concession intangible assets classified as current once the concession neared its end (note 17).
  2. “Other financial asset” is an issuer-specific line, not mapped to a shared definition: Buy-out amount receivable from the Government of Uganda (note 18).
  3. “Concession financial asset” is an issuer-specific line, not mapped to a shared definition: Concession financial asset (note 19), matched by a concession financial obligation.
  4. Audited financial statements dated 2026-03-31 presents this line for this year: - (p17). Not shown in this column, which follows one filing's presentation.
  5. Not reported in this filing: The FY2024 statement of financial position (p18) prints current income tax payable and no income tax recoverable line.
  6. “Prepayments” is an issuer-specific line, not mapped to a shared definition: Prepayments shown separately from trade and other receivables.
  7. Printed under different labels across filings: “Accumulated (losses)/profit”; “Accumulated losses”.
  8. “Translation reserve” is an issuer-specific line, not mapped to a shared definition: Differences from translating the US dollar functional currency into the Uganda shilling presentation currency.
  9. “Concession financial obligation” is an issuer-specific line, not mapped to a shared definition: Concession financial obligation (note 28).
  10. “Employee incentive plan liabilities” is an issuer-specific line, not mapped to a shared definition: Staff share award schemes (note 29).
  11. “Accrued expenses” is an issuer-specific line, not mapped to a shared definition: Accrued expenses shown separately from trade and other payables (note 32).
  12. Not reported in this filing: The FY2025 statement of financial position (p17) prints intangible assets only as a current asset.
  13. Not reported in this filing: The FY2025 statement of financial position (p17) prints other financial asset only as a current asset.
  14. Not reported in this filing: The FY2025 statement of financial position (p17) prints no deferred tax liability line.
  15. Not reported in this filing: The FY2025 statement of financial position (p17) prints employee incentive plan liabilities only as a current liability.
  16. Not reported in this filing: The FY2025 statement of financial position (p17) has no non-current liabilities section.
  17. “Customer security deposits” is an issuer-specific line, not mapped to a shared definition: Deposits paid by customers before connection (note 30).
  18. Not reported in this filing: The FY2025 statement of financial position (p17) prints no customer security deposits line.

Cash flow

Cash flow, UGX millions. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementsreported for the yearFY2023Audited financial statementscomparative in FY2024 filing
Cash generated from operating activities 124,239 424,064 582,009
Interest received from banks 4,596 282 336
Other financing costs paid1 (42,836) (28,815) (29,994)
Current income tax paid (10,991) (103,755) (80,000)
Net cash flows from operating activities 75,008 291,776 460,941
Investment in the distribution network2 (29,635) (107,047) (136,213)
Proceeds from sale of intangible assets3 –4 158 15
Proceeds from buy out amount5 457,258 Not reported in this filing76 Not reported in this filing7
Net cash flows from/(used in) investing activities8 427,623 (106,889) (136,198)
Dividend paid (360,501) (169,208) (103,751)
Net cash flows used in financing activities (360,501) (169,208) (283,297)
Net increase in cash and cash equivalents 142,130 15,679 41,446
Cash and cash equivalents at 1 January (25,269) (48,385) (81,774)
Net foreign exchange differences (278) 7,437 (8,057)
Cash and cash equivalents at 31 December 116,583 (25,269) (48,385)
Long- term borrowings interest paid Not reported in this filing9 –10 (11,410)
Repayment of principal for long term borrowings Not reported in this filing11 –12 (179,546)
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (9)
  1. “Other financing costs paid” is an issuer-specific line, not mapped to a shared definition: Financing costs paid, shown within operating activities (note 13).
  2. “Investment in the distribution network” is an issuer-specific line, not mapped to a shared definition: Capital spending on the concession distribution network, recognised as intangible assets (note 17).
  3. “Proceeds from sale of intangible assets” is an issuer-specific line, not mapped to a shared definition: Disposal proceeds of concession intangible assets.
  4. “Proceeds from buy out amount” is an issuer-specific line, not mapped to a shared definition: Partial payment of the concession buy-out amount by the Government of Uganda.
  5. Audited financial statements dated 2026-03-31 presents this line for this year: - (p19). Not shown in this column, which follows one filing's presentation.
  6. Not reported in this filing: The FY2024 cash flow statement (p20) prints no buy-out proceeds line; the line first appears in the FY2025 statements.
  7. Printed under different labels across filings: “Net cash flows from/(used in) investing activities”; “Net cash flows used in investing activities”.
  8. Not reported in this filing: The FY2025 cash flow statement (p19) prints no long-term borrowings interest line.
  9. Not reported in this filing: The FY2025 cash flow statement (p19) prints no borrowings repayment line.

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementsreported for the yearFY2023Audited financial statementscomparative in FY2024 filing
Earnings / (loss) per share (per share)1 (137.7) (314.4) 7.1
Profit / (loss) attributable to shareholders (UGX millions)32 (223,594) (510,568) 11,470
Weighted average shares (shares)4 1,624 million 1,624 million 1,624 million
Shares in issue at year end (shares)5 1,623,878,005 1,623,878,005 1,623,878,005
Notes and alternative reported figures (5)
  1. Earnings / (loss) per share: printed as “BASIC AND DILUTED EARNINGS PER SHARE”.
  2. Printed under different labels across filings: “(Loss)/profit attributable to ordinary equity holders (Ushs million)”; “Loss attributable to ordinary equity holders (Ushs million)”.
  3. Profit / (loss) attributable to shareholders: printed as “Loss attributable to ordinary equity holders (Ushs million)”.
  4. Weighted average shares: printed as “Basic and diluted weighted average number of ordinary shares (millions)”.
  5. Shares in issue at year end: printed as “Number of issued ordinary shares At 1 January and 31 December”.

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 No dividend recommended The directors do not recommend to the members a final dividend for the year ended 31 December 2025 (Final 2024: Nil). no amount Audited financial statements, p8
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid (360,501) UGX millions Audited financial statements, p19
31 Dec 2024 No dividend recommended The directors do not recommend to the members a final dividend for the year ended 31 December 2024 (Final 2023: Ushs 54.2 per share). no amount Audited financial statements, p8
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid (169,208) UGX millions Audited financial statements, p20
31 Dec 2023 Final dividend per share for the year Final 2023 54.2 UGX per share Audited financial statements, p8
31 Dec 2023 Dividends paid (cash flow statement) Dividend paid (103,751) UGX millions Audited financial statements, p20

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.

  • Annual report and audited 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 · includes a material-uncertainty paragraph

    Auditor's sign-off: Ernst & Young; engagement partner CPA Julius Rwajekare

    Final status: Auditor's report signed by Ernst & Young and the partner, dated 31 March 2026 (p14); statement of financial position approved 27 March 2026 and signed by two directors (p17); page images checked.

    Document date
    31 Mar 2026
    Auditor's report
    31 Mar 2026
    Board approval
    27 Mar 2026
    Retrieved by us
    5 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025
    Basis
    company statements · UGX millions (printed “Ushs million”)
    • Functional currency is the US dollar; statements are presented in Uganda shillings (millions). The supplementary US dollar statements (pp. 79-82 / 84-87) are not entered.
    • Listed on the exchange's equities page on 2026-10-05. News reports of a trading suspension from 31 March to 13 June 2025 were not verified from an exchange notice.
    Technical details
    File
    85 pages, with a text layer
    SHA-256
    104411f32c8d846442b1a86c001d5392c3fe7759859b79a650835f43d5c1609c
    Entity as printed
    Umeme Limited (company)
    Note
    The exchange posted a 2-page summary (use.or.ug/uploads/ed95a3e8-….pdf); archived, not entered.
    Issuer copy
    retrieved 2026-10-05T23:35:41Z · found via https://www.umeme.co.ug/umeme_api/wp-json/wp/v2/media?search=financial&per_page=100

  • Annual report and audited financial statements for the year ended 31 December 2024

    Year ended 31 December 2024 · Audited financial statements · signed / final

    Audit: Ernst & Young, unmodified opinion · signed

    Auditor's sign-off: Ernst & Young; engagement partner CPA Julius Rwajekare

    Final status: Auditor's report signed by Ernst & Young and the partner, dated 13 June 2025 (p15); statement of financial position approved 12 June 2025 and signed by two directors (p18); page images checked.

    Document date
    13 Jun 2025
    Auditor's report
    13 Jun 2025
    Board approval
    12 Jun 2025
    Retrieved by us
    5 Oct 2026 (not a publication date)
    Used for
    statement columns FY2024, FY2023
    Basis
    company statements · UGX millions (printed “Ushs million”)
    • Year of transition to the concession end on 31 March 2025; intangible assets and the buy-out receivable are reclassified to current assets at 31 December 2024.
    • Functional currency is the US dollar; statements are presented in Uganda shillings (millions). The supplementary US dollar statements (pp. 79-82 / 84-87) are not entered.
    Technical details
    File
    90 pages, with a text layer
    SHA-256
    67744c58097868b4c67dc8ed7d44edcb81665b44cb53f55a5faa5fa5ed047ab5
    Entity as printed
    Umeme Limited (company)
    Note
    The issuer site also holds a 2-page summary (2025/06/Audited_Financials_2024.pdf) and a second copy (2025/06/Umeme-Financials-31-December-2024.pdf); not entered.
    Issuer copy
    retrieved 2026-10-05T23:35:52Z · found via https://www.umeme.co.ug/umeme_api/wp-json/wp/v2/media?search=financial&per_page=100

Data notes

  • Trade and other receivables — OCR read '24,80฿'; the page image shows '24,808'. (Annual report and audited financial statements for the year ended 31 December 2025, p17)
  • Issued capital — OCR read '27.748'; the page image shows '27,748'. (Annual report and audited financial statements for the year ended 31 December 2025, p17)
  • Translation reserve — OCR read '202.412'; the page image shows '202,412'. (Annual report and audited financial statements for the year ended 31 December 2025, p17)

Review status: every figure has been checked against its cited source page in an AI-assisted source verification (6 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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