Ellah Lakes studies N146 million income, N1.87 billion in losses

Ellah Lakes Plc has reported an working lack of N1.87 billion for the seventeen months ended December 31, 2025, as rising administrative and personnel prices continued to outpace income development.

The outcomes have been contained within the firm’s consolidated unaudited monetary statements launched to the investing public and filed with the Nigerian Change (NGX) on Tuesday, February 3, 2026.

Whereas income and different revenue recorded notable enhancements through the interval, excessive working bills, finance prices, and weak price controls weighed closely on general efficiency, deepening collected losses.

Key monetary highlights (17 months ended December 31, 2025 vs prior interval):

Income: N146.66 million, up from N19.75 million
Gross Revenue: N130.06 million, up from N19.75 million
Working Loss: N1.87 billion, widened from N1.43 billion
Loss per share: -60 kobo, improved from -71 kobo
Different Earnings: N268.50 million, up from N16.18 million
Administrative Bills: N1.20 billion, up from N506.98 million
Personnel Bills: N1.19 billion, up from N935.59 million
Finance Prices: N66.39 million, down from N166.58 million
Complete Belongings: N30.29 billion, down from N31.05 billion (July 2025)
Complete Liabilities: N8.28 billion, down barely from N8.39 billion (July 2025)
Fairness: N22.01 billion, down from N22.66 billion (July 2025)

What the information is saying

Ellah Lakes recorded improved topline efficiency through the 17-month interval, however the positive factors have been inadequate to offset escalating prices.

Income rose sharply, supported by larger gross sales exercise and a big enhance in different revenue, significantly international change positive factors.

Income elevated to N146.66 million from N19.75 million within the comparable interval.
Gross revenue stood at N130.06 million, in comparison with N19.75 million beforehand, as price of gross sales rose to N16.60 million.
Different revenue surged to N268.50 million, pushed largely by international change positive factors of N191.99 million and curiosity revenue.
Working loss widened to N1.87 billion from N1.43 billion, with loss per share bettering barely to -60 kobo from -71 kobo.

Total, the information reveals that though income momentum improved, price pressures continued to overwhelm working efficiency.

Extra insights

The agribusiness firm’s working bills expanded considerably through the interval, eroding the advantages of upper income and different revenue.

Administrative and personnel-related prices remained the biggest contributors to the working loss.
Administrative bills greater than doubled to N1.20 billion from N506.98 million.
Personnel bills elevated to N1.19 billion from N935.59 million, reflecting larger salaries, wages, and pension prices.
Finance prices stood at N66.39 million, linked primarily to curiosity funds on excellent loans.
Depreciation costs amounted to N6.08 million through the interval.

These rising price traces spotlight persistent structural challenges in Ellah Lakes’ price administration framework.

Quarterly efficiency nonetheless underneath strain:

Regardless of stronger quarterly income, profitability remained elusive within the three months ended December 31, 2025.

The fourth quarter efficiency underscored the corporate’s ongoing wrestle to translate gross sales development into earnings.

Quarterly income rose to N79.25 million from N18.97 million within the corresponding quarter of 2024.
Different revenue for the quarter amounted to N180.59 million.
Working loss for the quarter got here in at N432.06 million.

The quarterly figures recommend that price pressures remained elevated at the same time as gross sales exercise picked up towards year-end.

Stability sheet place

Ellah Lakes’ steadiness sheet mirrored modest contraction in asset base and continued strain on fairness ranges.

Increased collected losses through the interval contributed to a decline in shareholders’ funds.
Complete belongings declined to N30.29 billion from N31.05 billion in July 2025.
Non-current belongings stood at N26.75 billion, with property, plant, and gear accounting for N25.04 billion.
Money and money equivalents dropped sharply to N2.93 billion from N5.90 billion.
Complete liabilities eased barely to N8.28 billion, whereas complete fairness fell to N22.01 billion.

Collected losses elevated to N6.26 billion, reflecting the impression of sustained working deficits.

What it is best to know

Ellah Lakes Plc operates as an agribusiness firm with vital investments in large-scale farming and associated infrastructure.

The corporate has continued to commit capital to asset improvement regardless of ongoing losses.
Property, plant, and gear additions through the interval amounted to N184.5 million.
Personnel bills remained elevated at N1.19 billion, up from N935.6 million within the prior interval.
Money and money equivalents declined to N2.93 billion, reflecting sustained money burn.
Retained losses rose to N6.26 billion from N5.61 billion as of July 2025.

Total, the most recent outcomes present that whereas Ellah Lakes has made progress in rising income and different revenue, the corporate continues to face vital operational and monetary headwinds as rising prices and damaging money flows weigh on its monetary place.