Skyway Aviation Handling Company Plc (SAHCO) has launched its unaudited monetary outcomes for the 9 months ended September 30, 2026, reporting a pre-tax profit of N8.08 billion, representing a 22.13% decline from N10.38 billion within the corresponding interval of 2025.
For the nine-month interval, income elevated by 8.15% to N34.26 billion from N31.68 billion. However, increased direct prices and administrative bills weighed profitability, decreasing profit after tax by 36.65% to N5.33 billion, whereas earnings per share declined to 394 kobo from 622 kobo.
However, third-quarter efficiency improved considerably, with pre-tax profit growing to N2.33 billion from N419.98 million in Q3 2025, representing a 455.32% enhance.
Key Highlights
- Revenue: N34.26 billion (Up 8.15% YoY from N31.68 billion).
- Passenger dealing with and associated providers: N24.48 billion (Up 4.60% YoY from N23.40 billion).
- Import cargo dealing with: N8.20 billion (Up 24.60% YoY from N6.58 billion).
- Export cargo dealing with: N1.58 billion (Down 6.60% YoY from N1.69 billion).
- Gross profit: N17.89 billion (Up 1.48% YoY from N17.63 billion).
- Direct prices: N16.37 billion (Up 16.54% YoY from N14.04 billion).
- Administrative bills: N10.09 billion (Up 36.00% YoY from N7.42 billion).
- Operating profit: N8.32 billion (Down 20.91% YoY from N10.52 billion).
- Total property: N87.79 billion (Up 6.17% from N82.69 billion as of December 2025).
- Cash and money equivalents: N5.50 billion (Up 12.52% from N4.88 billion).
Driving the numbers
Skyway Aviation’s nine-month earnings decline was pushed by rising working prices and administrative overheads, which outpaced income progress regardless of stronger contributions from passenger dealing with and import cargo providers.
- Revenue elevated by 8.15% to N34.26 billion, with passenger dealing with and associated providers remaining the corporate’s largest income supply.
- Passenger dealing with income elevated by 4.60% to N24.48 billion from N23.40 billion, accounting for about 71.45% of complete income.
- Import cargo dealing with recorded stronger progress, growing by 24.60% to N8.20 billion from N6.58 billion, contributing 23.93% of complete income.
- However, export cargo dealing with income declined by 6.60% to N1.58 billion from N1.69 billion, accounting for the remaining 4.62%.
Despite the rise in income, direct working prices rose quicker, growing 16.54% to N16.37 billion from N14.04 billion.
- The enhance was pushed partly by increased direct labour prices, which rose by 52.81% to N3.92 billion from N2.57 billion.
- Depreciation charged to direct prices additionally elevated by 48.06% to N2.18 billion from N1.47 billion, whereas concession charges rose to N1.67 billion from N1.55 billion.
These value will increase lowered the advantages of income progress, leaving gross profit at N17.89 billion, a rise of simply 1.48% from N17.63 billion.
Consequently, the gross profit margin declined to 52.23% from 55.67% within the corresponding interval of 2025.
- Administrative bills added additional stress, growing by 36.00% to N10.09 billion from N7.42 billion.
- Employee profit bills accounted for a good portion of the rise, rising by 78.72% to N3.94 billion from N2.21 billion.
Although different working revenue elevated by 69.51% to N515.96 million from N304.38 million, it was inadequate to offset the rise in bills.
- Consequently, working profit declined by 20.91% to N8.32 billion from N10.52 billion.
On the financing facet, finance revenue elevated by 225.66% to N264.58 million from N81.25 million, supported by increased curiosity revenue.
- However, finance bills elevated by 127.62% to N500.73 million from N219.98 million, reflecting increased curiosity prices on borrowings.
This resulted in a web finance expense of N236.15 million, in contrast with N138.74 million within the corresponding interval of 2025.
- As a end result, pre-tax profit declined by 22.13% to N8.08 billion from N10.38 billion.
- Income tax bills additionally elevated by 40.23% to N2.75 billion from N1.96 billion, additional decreasing bottom-line earnings.
Profit after tax consequently declined by 36.65% to N5.33 billion from N8.42 billion, whereas earnings per share fell to 394 kobo from 622 kobo.
Balance sheet
Total property elevated by 6.17% to N87.79 billion as of September 2026, from N82.69 billion at December 2025, pushed primarily by funding in property, plant and gear.
- Property, plant and gear elevated by 17.98% to N57.25 billion from N48.53 billion, supported by additions to plant and equipment.
- Meanwhile, commerce and different receivables declined by 20.97% to N16.07 billion from N20.33 billion, whereas money and money equivalents elevated by 12.52% to N5.50 billion.
On the funding facet, complete borrowings stood at N3.97 billion, in contrast with N3.85 billion as of December 2025.
- Shareholders’ fairness elevated by 5.08% to N65.37 billion from N62.21 billion, supported by retained earnings.
On the money circulation facet, web working money circulation improved by 42.99% to N13.74 billion from N9.61 billion, though the corporate spent N11.60 billion on property, plant and gear through the interval.
Market response
Skyway Aviation shares closed at N171.20 on Friday, October 30, 2026, unchanged from the earlier buying and selling session.
The inventory has gained 93.56% year-to-date from its opening value of N88.45, inserting it among the many stronger-performing equities on the Nigerian Exchange.
On a month-to-date foundation, the shares remained unchanged at N171.20, representing a 0.00% return for October.
The inventory additionally closed unchanged at N171.20 on October 29, following the discharge of the monetary statements.
During the nine-month interval, the corporate paid N1.62 billion in dividends to shareholders, in contrast with N812.15 million within the corresponding interval of 2025. No contemporary Q3 interim dividend was declared within the monetary statements.
