Skyway Aviation Handling Company Plc delivered a strong performance in 2025, with profit before tax rising to N14.28 billion, up from N6.48 billion in 2024.
Of this total, the fourth quarter contributed N3.9 billion, up from N1.8 billion in Q4 2024, supported by higher quarterly revenue.
Full-year revenue rose significantly to N44.4 billion, and together with other operating and finance income, contributed positively to bottom-line profitability.
Key Highlights
- Revenue: N44.45 billion (up from N28.94 billion)
- Gross profit: N25.47 billion (up from N16.37 billion)
- Operating profit: N14.61 billion (up from N6.52 billion)
- Pre-tax profit: N14.28 billion (up from N6.48 billion)
- Profit after tax: N11.73 billion (up from N4.83 billion)
- Earnings per share (EPS): N8.67 (up from N3.57)
- Total assets: N56.58 billion (up from N41.78 billion)
- Cash balance: N5.70 billion (up from N3.02 billion)
Driving the numbers
Revenue growth in 2025 was driven by higher activity across the company’s core service lines, with passenger handling services leading the way at N31.8 billion, remaining the largest contributor to total revenue.
- This was followed by cargo handling import operations at N10.4 billion and cargo handling export at N2.1 billion.
Cost of sales rose in line with the company’s business expansion, reaching N18.9 billion, with equipment repairs and direct labor costs topping the list.
- Despite this, gross profit held strong at N25.4 billion, up 55.6%, reflecting improved scale and the ability to absorb direct costs effectively.
However, administrative expenses spiked to N11.2 billion from N10 billion, largely due to higher employee benefits, rent, and electricity.
The company also generated other operating income of N381 million, mainly from electricity bill recoveries, scrap, and rental income.
Alongside finance income of N97.2 million, these contributions helped boost pretax profit.
- Profit before tax more than doubled to N14.28 billion in 2025, with profit after tax at N11.7 billion.
On the balance sheet, total assets expanded significantly to N56.5 billion, up 35.4%, supported by property, plant, and equipment, as well as higher trade receivables and cash balances.
Borrowings also rose to fund capital expenditure, while retained earnings strengthened to N21.7 billion, up from N10.8 billion, reflecting the company’s improved profitability.
Market reaction
Based on trading data from the NGX, Skyway Aviation Handling Company Plc’s shares were priced at N152.7 as of the close of trading on 6 February 2026, posting a month-to-date gain of 18.74%.
Year-to-date, the company is up 72.64% on the Nigerian stock market, with over 13 million shares exchanged, likely reflecting investor confidence in its strong fundamentals.
