Skyway Aviation Handling Reports Surge in Profits for 2025
Skyway Aviation Handling Company Plc has achieved impressive financial results for the fiscal year ending December 31, 2025, with profit after tax (PAT) more than doubling to N11.73 billion. This performance underscores the company’s robust operational momentum and efficiency improvements across various business segments.
Revenue Soars Amid Growing Demand
The company’s audited results reveal a remarkable 54% increase in revenue for 2025, reaching N44.46 billion, up from N28.94 billion in 2024. This substantial growth was largely fueled by heightened demand for both passenger and cargo handling services, along with enhanced contributions from ancillary and value chain operations.
Cost Pressures and Gross Profit Growth
While the cost of sales rose to N18.98 billion, up from N12.56 billion a year earlier, this increase was outpaced by revenue growth. Consequently, gross profit saw a significant climb from N16.38 billion in 2024 to N25.48 billion in the latest reporting period.
Robust Operating Profit Amid Rising Expenses
Operating performance remained strong, with operating profit nearly doubling to N14.62 billion from N6.53 billion year-over-year. This achievement was notable even as administrative expenses rose from N10.05 billion to N11.24 billion, reflecting ongoing inflation, increased utility costs, and higher staff expenses.
Comprehensive Income and Balance Sheet Strength
After accounting for a tax expense of N2.55 billion, the profit after tax amounted to N11.73 billion, representing a remarkable 142% increase from N4.83 billion in the prior year. Total comprehensive income for the year reached N11.42 billion, compared to N6.89 billion in 2024, despite recording an exchange loss of N314.5 million during the period.
Investment in Operational Capacity Drives Asset Growth
The company’s balance sheet displays continued strength, with total assets rising from N41.78 billion in 2024 to N56.58 billion as of December 31, 2025. This growth is largely attributed to a significant increase in property, plant, and equipment, which expanded from N16.03 billion to N24.61 billion, highlighting ongoing investment in operational capacity.
Positive Cash Flow and Shareholder Returns
Cash flow generation has improved significantly, with net cash flow from operating activities increasing to N13.47 billion, up from N5.01 billion last year. The company concluded the period with cash and cash equivalents totaling N5.7 billion, compared to N3.03 billion in 2024. Despite a capital expenditure exceeding N11 billion on fixed assets, Skyway sustained a positive financing cash flow, aided by new borrowings. Earnings per share surged from 357 kobo in 2024 to 867 kobo, reflecting strong earnings growth and enhanced shareholder value. Additionally, the company declared a final dividend of N1.6 billion to its shareholders for the current financial year.
