Board Change • May 15
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Chairman Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Chairman Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 09
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Chairman Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 01
Second quarter 2026 earnings released: ₦0.038 loss per share (vs ₦0.61 profit in 2Q 2025) Second quarter 2026 results: ₦0.038 loss per share (down from ₦0.61 profit in 2Q 2025). Revenue: ₦108.7m (down 82% from 2Q 2025). Net loss: ₦9.00m (down 106% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has increased by 272% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Nov 19
Eunisell Interlinked Plc, Annual General Meeting, Nov 19, 2025 Eunisell Interlinked Plc, Annual General Meeting, Nov 19, 2025, at 11:00 W. Central Africa Standard Time. Reported Earnings • Oct 28
First quarter 2026 earnings released First quarter 2026 results: Revenue: ₦445.0m (up 23% from 1Q 2025). Net income: ₦115.3m (down 5.8% from 1Q 2025). Profit margin: 26% (down from 34% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has increased by 181% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₦57.95, the stock trades at a trailing P/E ratio of 72x. Average trailing P/E is 11x in the Electrical industry in Africa. Total returns to shareholders of 1,891% over the past three years. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₦39.50, the stock trades at a trailing P/E ratio of 49.1x. Average trailing P/E is 11x in the Electrical industry in Africa. Total returns to shareholders of 1,257% over the past three years. Reported Earnings • Sep 30
Full year 2025 earnings released: EPS: ₦0.81 (vs ₦0.85 in FY 2024) Full year 2025 results: EPS: ₦0.81. Revenue: ₦1.41b (up 95% from FY 2024). Net income: ₦190.5m (up 90% from FY 2024). Profit margin: 14% (in line with FY 2024). Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₦30.55, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 13x in the Electrical industry in Africa. Total returns to shareholders of 950% over the past three years. Board Change • Sep 10
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Chairman Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buy Or Sell Opportunity • Aug 04
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 114% to ₦23.00. The fair value is estimated to be ₦18.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 80% over the last 3 years. Earnings per share has grown by 114%. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₦21.00, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 9x in the Electrical industry in Africa. Total returns to shareholders of 622% over the past three years. New Risk • Jul 27
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: ₦1.4b (US$921k) This is considered a major 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 Risks High level of non-cash earnings (27% accrual ratio). Revenue is less than US$1m (₦1.4b revenue, or US$921k). Market cap is less than US$10m (₦4.24b market cap, or US$2.77m). Reported Earnings • Jul 27
Full year 2025 earnings released: EPS: ₦1.11 (vs ₦0.42 in FY 2024) Full year 2025 results: EPS: ₦1.11 (up from ₦0.42 in FY 2024). Revenue: ₦1.41b (up 95% from FY 2024). Net income: ₦261.9m (up 162% from FY 2024). Profit margin: 19% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 83% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₦16.30, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 9x in the Electrical industry in Africa. Total returns to shareholders of 460% over the past three years. Board Change • Jul 09
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Chairman Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 19
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Chairman Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₦9.80, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 7x in the Electrical industry in Africa. Total returns to shareholders of 237% over the past three years. Reported Earnings • Jan 23
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: ₦613.8m (up ₦565.6m from 2Q 2024). Net income: ₦145.3m (up ₦148.0m from 2Q 2024). Profit margin: 24% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₦14.06, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 12x in the Electrical industry in Africa. Total returns to shareholders of 383% over the past three years. Board Change • Jan 10
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Chairman Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₦10.90, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 9x in the Electrical industry in Africa. Total returns to shareholders of 275% over the past three years. Duyuru • Nov 12
Eunisell Interlinked Plc, Annual General Meeting, Nov 26, 2024 Eunisell Interlinked Plc, Annual General Meeting, Nov 26, 2024, at 11:00 W. Central Africa Standard Time. New Risk • Nov 06
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 Risks High level of non-cash earnings (94% accrual ratio). Revenue is less than US$1m (₦1.0b revenue, or US$625k). Market cap is less than US$10m (₦1.61b market cap, or US$965.9k). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₦3.50, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 5x in the Electrical industry in Africa. Total returns to shareholders of 20% over the past three years. Reported Earnings • Sep 27
Full year 2024 earnings released: EPS: ₦0.42 (vs ₦0.037 in FY 2023) Full year 2024 results: EPS: ₦0.42 (up from ₦0.037 in FY 2023). Revenue: ₦722.5m (up 161% from FY 2023). Net income: ₦100.1m (up ₦91.2m from FY 2023). Profit margin: 14% (up from 3.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 01
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₦247.5m (up ₦224.4m from 3Q 2023). Net income: ₦70.5m (up ₦82.9m from 3Q 2023). Profit margin: 28% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Reported Earnings • Jan 26
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₦48.2m (down 15% from 2Q 2023). Net loss: ₦8.40m (down 344% from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 27
First quarter 2024 earnings released First quarter 2024 results: Revenue: ₦43.6m (down 66% from 1Q 2023). Net loss: ₦4.56m (down 138% from profit in 1Q 2023). Duyuru • Aug 12
Eunisell Introduces Solution to Revise the Niger Delta's Oil and Gas Sector - the Early Production Facilities Eunisell has introduced a solution to reshape the Niger Delta's oil and gas sector - the Early Production Facilities (EPFs). Strategically positioned in challenging onshore and remote swamp locales, these facilities are poised to expedite oil and gas production on new or marginal field developments, propelling rapid revenue and early cash flow. The unveiling took place at the recently concluded Nigerian Annual International Conference and Exhibition (NAICE) 2023. During the event, Mr. Chika Ikenga, Group Managing Director (GMD) of Eunisell, underscored the pivotal role of these installations, specifically emphasizing the significance of the onshore production facility at Qua Iboe in Oil Mining Lease (OML) 13 and the barge early production facility at the Atala marginal field. The oil and gas industry in the Niger Delta has long grappled with logistical intricacies, regulatory hurdles, and remote locations hampering timely oil and gas production. Eunisell's innovative EPFs offer a reimagined approach by establishing modular and scalable installations bridging the gap between initial development phases and full-scale production. The hallmark features of these installations include efficiency and adaptability, enabling swift production and early revenue generation. A standout example of Eunisell's engineering prowess is the Qua Iboe Onshore Facility situated within OML 13. Designed to surmount logistical challenges, this installation, strategically positioned adjacent to the Qua Iboe terminal, utilizes modular design principles to mitigate transportation constraints, subsequently optimizing cost-efficiency. This streamlined approach not only accelerates economic progress but also aligns with Eunisell's commitment to sustainable practices. Conversely, the Atala Barge Facility, nestled within the swamp's heart, underscores Eunisell's innovation even within the harshest environments. Its mobility and adaptability empower the facility to navigate evolving conditions, optimizing resource extraction. This dynamic approach ensures consistent production while ensuring the fragile Niger Delta ecosystem. Beyond industry implications, Eunisell's EPFs have generated substantial positive effects within local communities. The creation of job opportunities, skill development initiatives, and community engagement programs have invigorated marginalized regions. Eunisell's dedication to corporate social responsibilitycements its legacy and commitment to nurturing the communities integral to its growth. Eunisell's trailblazing Early Production Facilities have not only revolutionized the industry but also established a blueprint for others to emulate. The successes of the Qua Iboe Inshore Facility and the Atala Barge Facility stand as guiding lights for emerging industry entrants, exemplifying the ability of innovation, determination, and audacity to transcend entrenched barriers. As the sun sets over the serene waters of the Niger Delta, Eunisell'sEPFs cast a glow upon the path toward swift oil and gas yield, early cash flow, and a future where ingenuity overcomes constraints, propelling both communities and economies. New Risk • Jul 18
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Revenue is less than US$1m (₦271m revenue, or US$349k). Market cap is less than US$10m (₦688.8m market cap, or US$886.7k). Reported Earnings • Jul 17
Full year 2023 earnings released: EPS: ₦0.089 (vs ₦0.021 in FY 2022) Full year 2023 results: EPS: ₦0.089 (up from ₦0.021 in FY 2022). Revenue: ₦270.8m (up 38% from FY 2022). Net income: ₦21.0m (up 313% from FY 2022). Profit margin: 7.7% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Apr 30
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₦23.1m (down 23% from 3Q 2022). Net loss: ₦12.4m (loss widened 61% from 3Q 2022). Reported Earnings • Jan 28
Second quarter 2023 earnings released: EPS: ₦0.015 (vs ₦0.031 loss in 2Q 2022) Second quarter 2023 results: EPS: ₦0.015 (up from ₦0.031 loss in 2Q 2022). Revenue: ₦56.8m (up 4.1% from 2Q 2022). Net income: ₦3.45m (up ₦10.7m from 2Q 2022). Profit margin: 6.1% (up from net loss in 2Q 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Director Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 30
First quarter 2023 earnings released First quarter 2023 results: EPS: ₦0.086. Revenue: ₦134.8m (up 51% from 1Q 2022). Net income: ₦20.3m (down 4.1% from 1Q 2022). Profit margin: 15% (down from 24% in 1Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Sep 21
Full year 2022 earnings released: EPS: ₦0.001 (vs ₦0.061 in FY 2021) Full year 2022 results: EPS: ₦0.001 (down from ₦0.061 in FY 2021). Revenue: ₦196.4m (down 13% from FY 2021). Net income: ₦249.0k (down 98% from FY 2021). Profit margin: 0.1% (down from 6.4% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 01
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: ₦30.1m (down 47% from 3Q 2021). Net loss: ₦7.72m (loss widened 22% from 3Q 2021). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Director Chika Ikenga was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 01
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: ₦0.031 loss per share (down from ₦0.005 profit in 2Q 2021). Revenue: ₦54.6m (up 93% from 2Q 2021). Net loss: ₦7.27m (down ₦8.33m from profit in 2Q 2021). Revenue was in line with analyst estimates. Reported Earnings • Sep 30
Full year 2021 earnings released: EPS ₦0.061 (vs ₦0.043 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₦225.6m (up 35% from FY 2020). Net income: ₦14.5m (up 44% from FY 2020). Profit margin: 6.4% (up from 6.0% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 01
First quarter earnings released Over the last 12 months the company has reported total profits of ₦8.46m, with earnings increasing by ₦112.7m from the prior year. Total revenue was ₦138.3m over the last 12 months, up 92% from the prior year. 
