Category: Napkin Notes
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Dangote Cement had a pretty dull year due to a sharp rise in operating costs, finance costs and thin volume growth. The spike in finance costs were in the African subsidiaries. Group operations Revenue went up from N2.2 trillion in 2023 to N3.5 trillion in 2024 Up 62.1% year on year Operating profit went up…
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MTN Nigeria, yesterday released its audited numbers for the 2024 financial year. There was decent increase in revenue, but losses worsened. FY 2024 numbers Total revenue for the year went up by 36% from N2.4 trillion in 2023 to N3.3 trillion in 2024. Voice and data accounted for the bulk of revenue. Voice data came…
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Access Bank (biggest subsidiary of Access Holdings) yesterday opened its commercial paper issue. A commercial paper is short term borrowing by a company. Issue details The Series 1 and 2 Commercial Paper Offer is for up to ₦200 Billion under its ₦400 billion commercial paper programme Series 1 has a tenor of 180 days and…
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Nigerian Breweries dropped its audited FY 2024 numbers last week Friday. Revenue hit the N1 trillion mark up 80% from the N599 billion it made in FY 2023. That’s taken the brewer into a select number of firms on the exchange to do that. They include MTN Nigeria and Dangote Cement. Operating margins are thin.…
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PZ Cussons Nigeria yesterday held a facts behind the figures session at the Nigerian Exchange Limited. Companies usually do this when they have a major move to make (mostly fund raising). Ideally this should be a more frequent event, but ideals and reality are on two different bus stops. About the firm PZ Cussons Nigeria…
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During its 45th Annual General Meeting (AGM) which held on the 17th of December 2024, Oando shares gave approval for a special bonus issue. The shares were in lieu of loans granted to the firm’s CEO Wale Tinubu and DCEO Mofe Boyo. The resolution was as follows The Company may cause shares received pursuant to…
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Airtel Nigeria is one of the big 3 telcos in Nigeria (the other two being MTN Nigeria and Globacom Nigeria). Last week its parent company Airtel Africa dropped its 9M 2024 results and held an earnings call. Airtel Africa is the listed entity on the Nigerian and London Stock exchanges. My initial focus was to…
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Total Energies Nigeria today dropped its unaudited full year 2024 results. Revenue went up by 64% from N635 billion in 2023 to N1.04 trillion. The company joined the N1 trillion club. This is a select group of companies that have made N1 trillion or more in revenue. They include Dangote Cement and MTN Nigeria. About…
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Netflix co founder Reed Hastings Netflix (one of the major streaming platforms globally) dropped its Q4 2024 earnings last week. Here are the key points FY 2024 numbers Below is a table showing the revenue statement for the last 3 financial years, and the percentage change for each year. Paid membership grew by 19 million subscribers…
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JP Morgan is America’s largest bank by assets. Last week, it dropped its results for the fourth quarter ended December 2024. Key numbers Total revenue for Q4 2024: $43.7 billion Net income (profit after tax): $14 billion Earnings per share: $4.81 Proposed dividend per share $1.25 Income split The 4 key revenue lines are Consumer…