Secure Electronic Technology PLC

NGSE:NSLTECH

Nigeria / Consumer Discretionary / Hotels, Restaurants & Leisure

Overview

Dividends

10Y Historical Financials

Stock Price

0.55 NGN


Key Metrics	Latest
Total Revenue	4.349 B
Adjusted EBITDA	30.212 M
EBITDA Margin	0.7%
Net Profit Margin	-2.7%
Total Assets	3.225 B
Total Debt	330.6 M

10Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending										Latest
(in millions)	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	12 Months

Revenue	7,643	7,470	6,599	4,335	4,321	4,169	4,131	4,347	3,494	4,349	4,349
% Growth		-2.3%	-11.7%	-34.3%	-0.3%	-3.5%	-0.9%	5.2%	-19.6%	24.5%

Adjusted EBITDA	98	106	131	(29)	3	34	(7)	39	5	30	30
% Margin	1.3%	1.4%	2.0%	-0.7%	0.1%	0.8%	-0.2%	0.9%	0.1%	0.7%	0.7%

Adjusted EBIT	57	64	32	(117)	(76)	(19)	(61)	(14)	(48)	(83)	(83)
% Margin	0.7%	0.9%	0.5%	-2.7%	-1.8%	-0.5%	-1.5%	-0.3%	-1.4%	-1.9%	-1.9%

Adjusted Net Income	86	101	63	(152)	(98)	(32)	(92)	(41)	(72)	(118)	(118)
% Margin	1.1%	1.3%	0.9%	-3.5%	-2.3%	-0.8%	-2.2%	-0.9%	-2.1%	-2.7%	-2.7%

Adjusted Basic EPS	0.02	0.02	0.01	(0.03)	(0.02)	(0.01)	(0.02)	(0.01)	(0.01)	(0.02)	(0.02)

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
											Press Release
NGN	Fiscal Year Ending										Latest
(in millions)	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-24
	FY - 9	FY - 8	FY - 7	FY - 6	FY - 5	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM

Revenue	7,643	7,470	6,599	4,335	4,321	4,169	4,131	4,347	3,494	4,349	4,349
% Growth	NA	-2.3%	-11.7%	-34.3%	-0.3%	-3.5%	-0.9%	5.2%	-19.6%	24.5%

Cost of Revenue	(4,462)	(4,407)	(3,924)	(2,580)	(2,589)	(2,484)	(2,465)	(2,520)	(1,975)	(2,443)	(2,443)
Gross Profit	3,181	3,063	2,675	1,754	1,731	1,685	1,666	1,827	1,519	1,906	1,906
% Revenue	41.6%	41.0%	40.5%	40.5%	40.1%	40.4%	40.3%	42.0%	43.5%	43.8%	43.8%

Research and Development	0	0	0	0	0	0	0	0	0	0	0
Selling and Marketing	(2,875)	(2,735)	(2,338)	(1,586)	(1,557)	(1,501)	(1,455)	(1,549)	(1,270)	(1,603)	(1,603)
General and Admin	(248)	(264)	(305)	(286)	(250)	(203)	(234)	(280)	(280)	(364)	(364)
Other Inc / (Exp)	0	0	0	0	0	(1)	(39)	(13)	(17)	(21)	(21)
Total Operating Exp	(3,124)	(2,999)	(2,643)	(1,871)	(1,808)	(1,706)	(1,728)	(1,842)	(1,567)	(1,988)	(1,988)

Operating Income	57	64	32	(117)	(76)	(21)	(62)	(15)	(48)	(83)	(83)
% Revenue	0.7%	0.9%	0.5%	-2.7%	-1.8%	-0.5%	-1.5%	-0.3%	-1.4%	-1.9%	-1.9%

Interest Expense	(1)	(1)	(1)	(1)	(1)	0	0	0	(1)	(6)	(6)
Pre-tax Income	56	62	31	(118)	(77)	(21)	(62)	(15)	(49)	(89)	(89)
Earnings of Discontinued Ops.	0	0	0	0	0	0	0	0	0	0	0
Provision for Taxes	30	38	32	(34)	(22)	(11)	(30)	(26)	(23)	(30)	(30)
Net Income to Company	86	101	63	(152)	(98)	(32)	(92)	(41)	(72)	(118)	(118)
% Margin	1.1%	1.3%	0.9%	-3.5%	-2.3%	-0.8%	-2.2%	-0.9%	-2.1%	-2.7%	-2.7%

Minority Interest in Earnings	0	0	0	0	0	0	0	0	0	0	0
Net Income to Stockholders	86	101	63	(152)	(98)	(32)	(92)	(41)	(72)	(118)	(118)

Preferred Dividends	0	0	0	0	0	0	0	0	0	0	0
Other Adj.	0	0	0	0	0	0	0	0	0	0	0

Net Income to Common	86	101	63	(152)	(98)	(32)	(92)	(41)	(72)	(118)	(118)
% Margin	1.1%	1.3%	0.9%	-3.5%	-2.3%	-0.8%	-2.2%	-0.9%	-2.1%	-2.7%	-2.7%

As Reported
Basic EPS (Continuing Ops)	0.02	0.02	0.01	(0.03)	(0.02)	(0.01)	(0.02)	(0.01)	(0.01)	(0.02)	(0.02)
Diluted EPS (Continuing Ops)	0.02	0.02	0.01	(0.03)	(0.02)	(0.01)	(0.02)	(0.01)	(0.01)	(0.02)	(0.02)

WA Basic Shares Out.	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54
WA Diluted Shares Out.	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54	5,631.54

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	56	62	31	(118)	(77)	(21)	(62)	(15)	(49)	(89)	(89)
Addback: Net Interest Expense	1	1	1	1	1	0	0	0	1	6	6
Addback: Other Non Operating Expenses, Total	0	0	0	0	0	1	1	1	0	0	0
Addback: Depreciation & Amortization	41	42	99	88	79	54	54	53	53	113	113
Addback: Restructuring Charges	0	0	0	0	0	0	0	0	0	0	0
Addback: Merger / Acquisition Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Goodwill Impairment	0	0	0	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	0	0	0	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Assets	0	0	0	0	0	0	0	0	0	0	0
Addback: Asset Writedown	0	0	0	0	0	0	0	0	0	0	0
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	0	0	0	0	0	0	0	0	0	0	0
Adjusted EBITDA	98	106	131	(29)	3	34	(7)	39	5	30	30
% Margin	1.3%	1.4%	2.0%	-0.7%	0.1%	0.8%	-0.2%	0.9%	0.1%	0.7%	0.7%

Adjusted EBIT	57	64	32	(117)	(76)	(19)	(61)	(14)	(48)	(83)	(83)
% Margin	0.7%	0.9%	0.5%	-2.7%	-1.8%	-0.5%	-1.5%	-0.3%	-1.4%	-1.9%	-1.9%

Adjusted Net Income Reconciliation
Net Income to Company	86	101	63	(152)	(98)	(32)	(92)	(41)	(72)	(118)	(118)
Addback: Unusual Items	0	0	0	0	0	0	0	0	0	0	0
Less: Tax Benefit of Unusual Items (26%)	0	0	0	0	0	0	0	0	0	0	0
Adjusted Net Income	86	101	63	(152)	(98)	(32)	(92)	(41)	(72)	(118)	(118)
% Margin	1.1%	1.3%	0.9%	-3.5%	-2.3%	-0.8%	-2.2%	-0.9%	-2.1%	-2.7%	-2.7%

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Secure Electronic Technology PLC

NGSE:NSLTECH

Nigeria / Consumer Discretionary / Hotels, Restaurants & Leisure

10Y Historical Financials