Eunisell posts N1.84 billion revenue, profit rises 31% in FY 2026

Eunisell Interlinked Plc has released its financial statements for the year ended June 30, 2026, growing revenue to N1.84 billion.

This represents a 30.24% increase from N1.41 billion recorded in the previous year.

The strong top-line performance translated into higher profitability, with pre-tax profit rising to N301.47 million from N235.85 million, while profit after tax increased to N249.45 million from N190.48 million.

Key Highlights

• Revenue: N1.84 billion (Up 30.24% YoY from N1.41 billion)
• Gross profit: N597.46 million (Up 24.57% YoY from N479.61 million)
•  Operating profit: N312.08 million (Up 11.92% YoY from N278.85 million)
•  Pre-tax profit: N301.47 million (Up 27.82% YoY from N235.85 million)
•  Profit after tax: N249.45 million (Up 30.96% YoY from N190.48 million)
•  Earnings per share: 105.39 kobo (Up 30.96% YoY from 80.47 kobo)
• Total external debt: N145.22 million (Up 71.21% YoY from N84.82 million)
•  Total assets: N1.51 billion (Up 62.68% YoY from N929.22 million)
• Cash balance: N15.68 million (Down 81.37% YoY from N84.19 million)

Driving the numbers

Driving Eunisell’s 2026 performance was a significant expansion in revenue, with the company adding over N426 million in new sales during the year.

• The growth was driven almost entirely by its oil and gas business, which generated N1.59 billion in revenue, accounting for approximately 86.5% of total sales.
• Revenue from the segment increased by N424.63 million compared to the previous year, making it the primary contributor to the company’s overall growth.
• The power segment also contributed positively, with revenue more than doubling to N115.46 million from N54.20 million. Construction revenue rose sharply to N59.30 million from N11.32 million, reflecting increased activity in that business line.
• These gains helped offset a decline in household segment revenue, which fell to N73.09 million from N180.48 million.
• While revenue growth remained robust, costs also increased as the company executed more projects and expanded operations.

The cost of sales rose to N1.24 billion from N930.82 million. Nevertheless, revenue growth outpaced the increase in direct costs, allowing gross profit to rise by nearly 25% to N597.46 million.

Operating expenses

Operating expenses increased to N285.38 million from N200.80 million, driven partly by higher employee costs and depreciation charges. Staff costs rose to N111.09 million from N80.71 million as workforce size increased to 23 employees from 18 a year earlier.

The company also recorded substantially higher depreciation expenses following significant investment in property, plant, and equipment.

One of the key factors supporting earnings growth was the sharp decline in finance costs. Net finance costs fell to N10.62 million from N43.00 million despite higher borrowings, providing a boost to profitability and helping pre-tax profit grow faster than operating profit.

Balance sheet

The balance sheet also expanded significantly. Total assets increased by 62.68% to N1.51 billion, supported by higher inventories, receivables, and investment in fixed assets.

Inventories rose to N440.24 million from N288.67 million, while trade and other receivables increased to N921.54 million from N543.70 million, reflecting the higher level of business activity during the year.

Despite stronger earnings, operating cash flow declined sharply to N13.70 million from N133.21 million due to increased working capital requirements. The company ended the year with cash and cash equivalents of N15.68 million, down from N84.19 million in the prior year.

Market reaction

The share price closed at N189 on Tuesday, September 29, 2026. Eunisell Interlinked began the year with a share price of N115.00 and has since gained 64.4% on that price valuation.