NIGERIAN EXCHANGE : QUARTER 3 - FINANCIAL STATEMENT FOR 2022

Nigerian Exchange Group Plc

Unaudited Financial Statements for the period ended 30 September 2022

`

Index to the consolidated and separate unaudited financial statements

For the period ended 30 September 2022

Table of Content	Pages
Corporate Information	1
Financial Statements
Consolidated and Separate Statement of Comprehensive Income	2
Consolidated and Separate Statement of Financial Position	3
Consolidated and Separate Statement of Changes in Equity	4
Consolidated and Separate Statement of Cash Flows	5
Notes to the consolidated and separate financial statements	6~15

Corporate information

Directors

	Dr. Umaru Kwairanga	Chairman (Non-Executive Director)
	Mr. Oluwole Adeosun	Vice Chairman/ Non-Executive Director
	Mr. Oscar N. Onyema, OON	Group Managing Director/ CEO
	Dr. Okechukwu Itanyi	Independent Non-Executive Director
	Mrs. Ojinika Olaghere	Independent Non-Executive Director
	Mr. Chidi Agbapu	Non-Executive Director
	Mr. Patrick Ajayi	Non-Executive Director
	Mrs. Fatimah Bintah Bello - Ismail	Non-Executive Director
Company Secretary:	Mrs. Mojisola Adeola
	FRC/2013/NBA/00000004263
Registered Office:	Nigerian Exchange House
	2/4, Customs Street
	Marina
	Lagos
	FRC/2013/0000000000621
Independent Auditor:	Ernst and Young
	13th Floor UBA House
	57 Marina
	Lagos
	Nigeria
	www.ey.com
RC Number	RC 2321
Tax Identification Number (TIN)	00884470-0001

1

statement of profit or loss and other comprehensive income For the nine months ended 30 September 2022

			Group	Group	Group	Group		Company	Company	Company	Company
			Q3	Q3	September	September		Q3	Q3	September	September
In thousands of naira	Note		2022	2021	2022 Ytd	2021 Ytd		2022	2021	2022 Ytd	2021 Ytd
Revenue	4	1,151,462	1,732,340	4,974,717	4,387,791	462,423	349,328	2,882,691	2,440,486
Revenue		1,151,462	1,732,340	4,974,717	4,387,791	462,423	349,328	2,882,691	2,440,486
Other income	5	341,139	398,094	733,620	471,829	33,954	574,037	101,855	579,038
Other income		341,139	398,094	733,620	471,829	33,954	574,037	101,855	579,038
Total income		1,492,601	2,130,434	5,708,336	4,859,620	496,377	923,366	2,984,547	3,019,524
Personnel expense	6	(1,509,627)	(841,302)	(2,864,156)	(2,403,390)	(369,035)	(144,829)	(639,584)	(351,357)
Operating expenses	7	(659,258)	(477,719)	(1,650,418)	(1,325,426)	(160,299)	(142,938)	(458,526)	(516,178)
Depreciation and Amortisation	17	(138,263)	(155,780)	(395,200)	(420,498)	(15,480)	(47,876)	(42,435)	(110,408)
Total operating expenses		(2,307,148)	(1,474,801)	(4,909,774)	(4,149,314)	(544,815)	(335,643)	(1,140,546)	(977,943)
Operating profit/(Loss)		(814,547)	655,634	798,562	710,305	(48,438)	587,723	1,844,001	2,041,579
Finance cost		(349,441)		(1,689,347)		(349,441)		(1,689,347)
Profit/(Loss) before investee income		(1,163,988)	655,634	(890,785)	710,305	(397,878)	587,723	154,655	2,041,579
Share of profit-equity accounted
investees		405,196	318,221	1,355,163	1,017,287	-	-	-	-
Profit/(Loss) before income tax		(758,791)	973,854	464,379	1,727,592	(397,878)	587,723	154,655	2,041,579
Income tax expense		(97,239)	(72,610)	(291,718)	(217,830)	(17,272)	-	(51,817)	-
Profit/(Loss) for the year		(856,031)	901,244	172,661	1,509,762	(415,151)	587,723	102,838	2,041,579

* The unaudited numbers for the company as at 30 September 2021 includes the figures for the Nigerian Stock Exchange (NSE) before the demutualisation

2

Statement of financial position

As at 30 September 2022

		Group		Group		Company		Company
In thousands of naira	Notes	Sep-22		Dec-21		Sep-22		Dec-21
ASSETS
Cash and cash equivalents	10	2,454,037	2,248,237	1,253,460	1,097,731
Trade, other receivables	11	703,319	1,658,323	149,732	1,123,164
Prepayment	13	505,758	460,577	183,511	267,822
Investment securities	14	648,583	3,986,512	648,583	1,946,975
Total current assets		4,311,696	8,353,649	3,200,882	5,344,813
Investment securities	14	14,959,812	10,373,491	11,359,586	10,373,490
Investment in associates	15	32,390,544	14,750,630	19,364,881	5,083,910
Investment in subsidiaries	16	-	-	4,138,111	3,738,111
Property, plant and equipment	17	3,791,182	4,209,295	329,422	296,147
Intangible assets	17	99,181	181,875	26,466	31,362
Total non current assets		51,240,718	29,515,290	35,218,466	19,523,021
Total assets		55,552,415	37,868,940	38,419,349	24,867,831
LIABILITIES
Other liabilities	18	3,075,380	2,498,648	548,617	2,335,020
Term Loan	18	13,667,831	-	13,667,831	-
Lease Liabilities	19	34,675	222,623	142,422	142,422
Current tax liabilities	20	217,532	224,725	5,744	24,896
Total current liabilities		16,995,417	2,945,996	14,364,614	2,502,337
Other Liabilities	18	399,103	-	1,584,989	-
Retirement benefit obligations	21	186,367	163,964	25,912	24,496
Provisions	22	405,744	405,744	402,743	402,743
Deferred tax liabilities	23	137,567	238,882	-	-
Total non current liabilities		1,128,780	808,590	2,013,644	427,239
Total liabilities		18,124,198	3,754,586	16,378,257	2,929,576
EQUITY
Share capital		991,070	982,058	991,070	982,058
Retained earnings		36,168,018	31,143,945	21,088,823	20,985,986
Other reserves		269,130	1,988,351	(38,801)	(29,789)
Total equity		37,428,217	34,114,354	22,041,092	21,938,255
Total equity and liabilities		55,552,415	37,868,940	38,419,349	24,867,831

The full financial statements were approved by the Board on 27th October, 2022 and signed on its behalf by:

Mr. Oscar N. Onyema, OON		Mr. Cyril Eigbobo
FRC/2013/IODN/00000001802		FRC/2013/ICAN/00000001736
(Group Managing Director and CEO)		(Group Chief Financial Officer)

3