Skyway Aviation Handling Company Plc reported a profit after tax of N11.73 billion for the year ended December 31, 2025, a 142 percent increase from N4.83 billion in 2024. Revenue rose 54 percent to N44.46 billion from N28.94 billion the previous year, driven by higher demand for passenger and cargo handling services and improved performance in ancillary and Value Chain operations. Gross profit expanded to N25.48 billion from N16.38 billion as revenue growth outpaced the rise in cost of sales, which increased to N18.98 billion from N12.56 billion.
Operating profit nearly doubled to N14.62 billion from N6.53 billion despite administrative expenses climbing to N11.24 billion from N10.05 billion due to inflation, higher utility costs, and personnel expenses. The company recorded a tax expense of N2.55 billion, and total comprehensive income reached N11.42 billion, down slightly from N6.89 billion due to a foreign exchange loss of N314.5 million. Total assets grew to N56.58 billion from N41.78 billion, with property, plant and equipment increasing to N24.61 billion from N16.03 billion. Shareholders' equity rose to N39.87 billion from N29.27 billion, supported by retained earnings of N21.74 billion. Net cash inflow from operations jumped to N13.47 billion from N5.01 billion, and cash and cash equivalents stood at N5.70 billion, up from N3.03 billion. Capital expenditure exceeded N11 billion, financed partly through new borrowings. Earnings per share increased to 867 kobo from 357 kobo. The company declared a final dividend of N1.6 billion.
Skyway Aviation's N11.73 billion profit in 2025 reveals how private sector firms can thrive even in Nigeria's strained aviation environment. With earnings per share more than doubling to 867 kobo, the company is delivering tangible value to shareholders while investing heavily in infrastructure. The N11 billion capital expenditure suggests confidence in long-term demand, even as public airports lag in upgrades. This performance sets a benchmark for efficiency in an industry often shielded from accountability.
