Reported Earnings • Jul 06
Full year 2026 earnings released: EPS: ₦0.87 (vs ₦0.55 in FY 2025) Full year 2026 results: EPS: ₦0.87 (up from ₦0.55 in FY 2025). Revenue: ₦6.15b (up 19% from FY 2025). Net income: ₦753.1m (up 59% from FY 2025). Profit margin: 12% (up from 9.2% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 02
Dividend of ₦0.35 announced Shareholders will receive a dividend of ₦0.35. Ex-date: 14th September 2026 Dividend yield will be 3.5%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 17% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 38% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₦9.00, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 9x in the Media industry in Africa. Total returns to shareholders of 253% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₦10.50, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 9x in the Media industry in Africa. Total returns to shareholders of 447% over the past three years. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₦10.85, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 9x in the Media industry in Africa. Total returns to shareholders of 465% over the past three years. Board Change • May 04
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. 1 independent director (8 non-independent directors). Independent Non-Executive Director Egbichi Akinsanya was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₦8.25, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 8x in the Media industry in Africa. Total returns to shareholders of 373% over the past three years. New Risk • Feb 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Nigerian stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₦7.81b market cap, or US$5.77m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.8% average weekly change). Revenue is less than US$5m (₦5.9b revenue, or US$4.4m). Reported Earnings • Jan 31
Third quarter 2026 earnings released Third quarter 2026 results: Revenue: ₦3.33b (down 5.6% from 3Q 2025). Net income: ₦852.6m (up 8.9% from 3Q 2025). Profit margin: 26% (up from 22% in 3Q 2025). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₦7.15, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 8x in the Media industry in Africa. Total returns to shareholders of 310% over the past three years. Reported Earnings • Nov 02
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: ₦2.04b (up 60% from 2Q 2025). Net income: ₦609.7m (up 293% from 2Q 2025). Profit margin: 30% (up from 12% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Board Change • Oct 15
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. 1 independent director (8 non-independent directors). Independent Non-Executive Director Egbichi Akinsanya was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Sep 29
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. 1 independent director (8 non-independent directors). Independent Non-Executive Director Egbichi Akinsanya was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 08
Upcoming dividend of ₦0.35 per share Eligible shareholders must have bought the stock before 15 September 2025. Payment date: 25 September 2025. Payout ratio is on the higher end at 83%, and the cash payout ratio is above 100%. Trailing yield: 4.4%. Within top quartile of Nigerian dividend payers (4.3%). Lower than average of industry peers (7.4%). Ankündigung • Aug 21
Learn Africa Plc, Annual General Meeting, Sep 25, 2025 Learn Africa Plc, Annual General Meeting, Sep 25, 2025, at 11:00 W. Central Africa Standard Time. Location: company head office, felix iwerebon house, 52 oba akran avenue, ikeja, lagos Nigeria Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₦7.70, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 352% over the past three years. Reported Earnings • Jul 31
First quarter 2026 earnings released First quarter 2026 results: Revenue: ₦295.5m (up 135% from 1Q 2025). Net loss: ₦354.9m (loss widened 147% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 45% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₦6.93, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 252% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₦6.01, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 217% over the past three years. Ankündigung • Jul 02
Learn Africa Plc announces Annual dividend Learn Africa Plc announced Annual dividend of NGN 0.3500 per share, ex-date on September 15, 2025 and record date on September 12, 2025. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₦5.10, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 199% over the past three years. Buy Or Sell Opportunity • Jun 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to ₦4.64. The fair value is estimated to be ₦3.83, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has declined by 13%. New Risk • May 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Nigerian stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (₦3.86b market cap, or US$2.41m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (₦5.2b revenue, or US$3.2m). Reported Earnings • May 02
Full year 2025 earnings released: EPS: ₦0.64 (vs ₦0.013 in FY 2024) Full year 2025 results: EPS: ₦0.64 (up from ₦0.013 in FY 2024). Revenue: ₦5.18b (up 27% from FY 2024). Net income: ₦494.0m (up ₦482.9m from FY 2024). Profit margin: 9.5% (up from 0.3% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₦3.89, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 9x in the Media industry in Africa. Total returns to shareholders of 163% over the past three years. Buy Or Sell Opportunity • Feb 28
Now 24% undervalued The stock has been flat over the last 90 days, currently trading at ₦3.30. The fair value is estimated to be ₦4.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has declined by 16%. Reported Earnings • Feb 01
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₦3.52b (up 87% from 3Q 2024). Net income: ₦782.9m (up 65% from 3Q 2024). Profit margin: 22% (down from 25% in 3Q 2024). The decrease in margin was driven by higher expenses. New Risk • Jan 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Nigerian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₦5.03b market cap, or US$3.26m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Revenue is less than US$5m (₦4.0b revenue, or US$2.6m). Board Change • Dec 03
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. 1 independent director (8 non-independent directors). Independent Non-Executive Director Egbichi Akinsanya was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 01
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: ₦1.28b (up 48% from 2Q 2024). Net income: ₦155.0m (up 89% from 2Q 2024). Profit margin: 12% (up from 9.5% in 2Q 2024). New Risk • Sep 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Nigerian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₦2.59b market cap, or US$1.59m). Minor Risks Dividend is not well covered by cash flows (135% cash payout ratio). Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (₦3.6b revenue, or US$2.2m). Reported Earnings • Aug 01
First quarter 2025 earnings released: ₦0.27 loss per share (vs ₦0.018 profit in 1Q 2024) First quarter 2025 results: ₦0.27 loss per share (down from ₦0.018 profit in 1Q 2024). Revenue: ₦125.6m (down 79% from 1Q 2024). Net loss: ₦205.5m (down ₦219.6m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Ankündigung • Jul 13
Learn Africa Plc, Annual General Meeting, Sep 26, 2024 Learn Africa Plc, Annual General Meeting, Sep 26, 2024, at 11:00 W. Central Africa Standard Time. Location: felix iwerebon house, 52 oba akran avenue, ikeja lagos, lagos Nigeria New Risk • Jul 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.3% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₦2.47b market cap, or US$1.63m). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Revenue is less than US$5m (₦4.1b revenue, or US$2.7m). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₦3.63, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 362% over the past three years. Reported Earnings • May 02
Full year 2024 earnings released: EPS: ₦0.56 (vs ₦0.56 in FY 2023) Full year 2024 results: EPS: ₦0.56 (up from ₦0.56 in FY 2023). Revenue: ₦4.08b (up 18% from FY 2023). Net income: ₦430.9m (flat on FY 2023). Profit margin: 11% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 31
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₦1.88b (up 25% from 3Q 2023). Net income: ₦474.7m (up 24% from 3Q 2023). Profit margin: 25% (in line with 3Q 2023). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₦3.29, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 331% over the past three years. Upcoming Dividend • Sep 04
Upcoming dividend of ₦0.25 per share at 6.8% yield Eligible shareholders must have bought the stock before 11 September 2023. Payment date: 26 September 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 6.8%. Within top quartile of Nigerian dividend payers (6.5%). In line with average of industry peers (7.3%). New Risk • Jul 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (32% accrual ratio). Market cap is less than US$10m (₦3.12b market cap, or US$4.03m). Minor Risks Paying a dividend despite having no free cash flows. Revenue is less than US$5m (₦3.8b revenue, or US$5.0m). Reported Earnings • Jul 30
First quarter 2024 earnings released First quarter 2024 results: Revenue: ₦599.8m (up 161% from 1Q 2023). Net income: ₦14.2m (up ₦152.8m from 1Q 2023). Profit margin: 2.4% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 45% After last week's 45% share price gain to ₦4.23, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 8x in the Media industry in Africa. Total returns to shareholders of 409% over the past three years. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₦2.92, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 7x in the Media industry in Africa. Total returns to shareholders of 189% over the past three years. New Risk • Jun 23
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₦3.5b (US$4.3m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₦2.05b market cap, or US$2.53m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (₦3.5b revenue, or US$4.3m). Reported Earnings • May 01
Full year 2023 earnings released: EPS: ₦0.58 (vs ₦0.52 in FY 2022) Full year 2023 results: EPS: ₦0.58 (up from ₦0.52 in FY 2022). Revenue: ₦3.47b (down 6.1% from FY 2022). Net income: ₦448.2m (up 12% from FY 2022). Profit margin: 13% (up from 11% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 03
Third quarter 2023 earnings released Third quarter 2023 results: EPS: ₦0.50. Revenue: ₦1.51b (up 2.0% from 3Q 2022). Net income: ₦384.5m (flat on 3Q 2022). Profit margin: 26% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 19% share price gain to ₦1.97, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 101% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Non-Executive Director Egbichi Akinsanya was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₦2.05, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 8x in the Media industry in Africa. Total returns to shareholders of 111% over the past three years. Upcoming Dividend • Sep 05
Upcoming dividend of ₦0.20 per share Eligible shareholders must have bought the stock before 12 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 8.1%. Within top quartile of Nigerien dividend payers (8.0%). Higher than average of industry peers (5.2%). Reported Earnings • Aug 03
First quarter 2023 earnings released First quarter 2023 results: ₦0.26 loss per share. Revenue: ₦229.6m (down 2.7% from 1Q 2022). Net loss: ₦198.0m (loss widened 161% from 1Q 2022). Reported Earnings • Jul 05
Full year 2022 earnings released Full year 2022 results: Revenue: ₦3.70b (up 55% from FY 2021). Net income: ₦456.1m (up 183% from FY 2021). Profit margin: 12% (up from 6.7% in FY 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₦2.50, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 8x in the Media industry in Africa. Total returns to shareholders of 156% over the past year. Valuation Update With 7 Day Price Move • May 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₦2.05, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 9x in the Media industry in Africa. Total returns to shareholders of 106% over the past year. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improved over the past week After last week's 21% share price gain to ₦2.35, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 9x in the Media industry in Africa. Total returns to shareholders of 141% over the past year. Reported Earnings • May 01
Full year 2022 earnings released Full year 2022 results: Revenue: ₦3.70b (up 55% from FY 2021). Net income: ₦456.1m (up 183% from FY 2021). Profit margin: 12% (up from 6.7% in FY 2021). The increase in margin was driven by higher revenue. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Non-Executive Director Egbichi Akinsanya was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improved over the past week After last week's 22% share price gain to ₦2.07, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 8x in the Media industry in Africa. Total returns to shareholders of 110% over the past year. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₦1.98, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 103% over the past year. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improved over the past week After last week's 18% share price gain to ₦1.65, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 6x in the Media industry in Africa. Total returns to shareholders of 88% over the past year. Reported Earnings • Feb 03
Third quarter 2022 earnings: Revenues in line with analyst expectations Third quarter 2022 results: Revenue: ₦1.48b (up 125% from 3Q 2021). Net income: ₦381.1m (up 349% from 3Q 2021). Profit margin: 26% (up from 13% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Reported Earnings • Nov 01
Second quarter 2022 earnings released The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2022 results: Revenue: ₦543.7m (up 5.4% from 2Q 2021). Net loss: ₦50.6m (down 237% from profit in 2Q 2021). Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₦1.26, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 15x in the Media industry in Africa. Total returns to shareholders of 27% over the past year. Upcoming Dividend • Oct 04
Upcoming dividend of ₦0.15 per share Eligible shareholders must have bought the stock before 11 October 2021. Payment date: 22 October 2021. Trailing yield: 10%. Within top quartile of Nigerien dividend payers (8.1%). Higher than average of industry peers (5.0%). Reported Earnings • Aug 01
First quarter 2022 earnings released The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: ₦236.1m (up 14% from 1Q 2021). Net loss: ₦75.9m (down ₦91.7m from profit in 1Q 2021). Reported Earnings • May 05
Full year 2021 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₦2.39b (down 17% from FY 2020). Net income: ₦252.2m (up 215% from FY 2020). Profit margin: 11% (up from 2.8% in FY 2020). The increase in margin was driven by lower expenses. Reported Earnings • Jan 31
Third quarter 2021 earnings released The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ₦659.6m (down 13% from 3Q 2020). Net income: ₦85.0m (up ₦95.8m from 3Q 2020). Profit margin: 13% (up from net loss in 3Q 2020). Is New 90 Day High Low • Jan 15
New 90-day low: ₦0.99 The company is down 10.0% from its price of ₦1.10 on 16 October 2020. The Nigerien market is up 35% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 12% over the same period. Is New 90 Day High Low • Nov 06
New 90-day high: ₦1.15 The company is up 12% from its price of ₦1.03 on 07 August 2020. The Nigerien market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 27% over the same period. Upcoming Dividend • Sep 28
Upcoming Dividend of ₦0.05 Per Share Will be paid on the 16th of October to those who are registered shareholders by the 5th of October. The trailing yield of 4.4% is below the top quartile of Nigerien dividend payers (11%), and is lower than industry peers (6.6%).