Skyway Aviation Handling Company Plc posted a strong financial performance for the year ended December 31, 2025, with profit after tax more than doubling to N11.73 billion, reflecting solid operational momentum and improved efficiency across its business segments.
According to the company’s audited results, revenue surged by 54 per cent to N44.46 billion in 2025, compared with N28.94 billion recorded in 2024.
The significant increase was largely driven by higher demand for passenger and cargo handling services, as well as improved contributions from ancillary and value chain operations.
The cost of sales rose during the period to N18.98 billion from N12.56 billion in the previous year. However, revenue growth outpaced the increase in costs, leading to gross profit expanding to N25.48 billion from N16.38 billion in 2024.
Operating performance remained robust, with profit from operations nearly doubling to N14.62 billion, up from N6.53 billion recorded a year earlier.
This was achieved despite higher administrative expenses, which increased to N11.24 billion from N10.05 billion, driven by inflationary pressures, higher utility bills, and increased personnel costs.
After accounting for a tax expense of N2.55 billion, profit after tax stood at N11.73 billion, representing a 142 per cent increase from N4.83 billion in 2024.
Total comprehensive income for the year was N11.42 billion, compared with N6.89 billion in the previous year. This reflected a foreign exchange loss of N314.5 million during the period, in contrast to the gain recorded in 2024.
The company’s balance sheet remained strong, with total assets rising to N56.58 billion as of December 31, 2025, from N41.78 billion in 2024. The growth was largely driven by increased investment in property, plant, and equipment, which climbed to N24.61 billion from N16.03 billion, indicating continued expansion of operational capacity.
Shareholders’ equity also improved significantly, increasing to N39.87 billion from N29.27 billion, supported by retained earnings growth to N21.74 billion.
Cash flow generation strengthened markedly, with net cash inflow from operating activities rising to N13.47 billion from N5.01 billion in the previous year.
The company closed the year with cash and cash equivalents of N5.70 billion, up from N3.03 billion in 2024.
Despite capital expenditure of over N11 billion on fixed assets, Skyway maintained positive financing cash flow, supported by additional borrowings during the year.
Earnings per share increased to 867 kobo from 357 kobo in 2024, reflecting enhanced profitability and improved shareholder value.
The company also declared a final dividend of N1.6 billion for shareholders for the year under review.
Overall, Skyway Aviation Handling Company’s 2025 results underscore strong revenue growth, operational efficiency, and sustained investment in infrastructure, positioning the firm for continued expansion amid rising demand in Nigeria’s aviation services sector.
Speaking on the performance, the Managing Director/CEO said the results demonstrate the strength of the company’s strategic direction, the resilience of its business model, and the dedication of its workforce. She noted that despite inflationary pressures and rising operating costs, the company maintained strong margins and nearly doubled its operating profit.
The Chairman of the Company, Dr. Taiwo Afolabi also emphasized that sustained investments in modern equipment and infrastructure have played a key role in enhancing operational efficiency, improving service delivery, and positioning the company for long-term growth.