NCR Nigeria Plc has returned to profit for the first time in three years, supported by strong revenue and effectively ending a streak of losses that had weighed down earnings.
The 2025 results reflect a combination of cost discipline and a strategic pivot toward maintenance and support services, even as inflation and currency pressures continued to challenge the technology sector.
The company posted a profit after tax of N196.05 million, reversing the N2.17 billion loss recorded in 2024. Revenue grew 43 percent to N3.08 billion, lifted by stronger performance across both maintenance and equipment sales.
Its World Customer Services division, which handles upkeep for banks’ existing infrastructure, contributed N1.97 billion, providing a steady, recurring income floor. Meanwhile, revenue from new ATMs and software under the Financial Service Group doubled to N1.11 billion, though higher costs continued to squeeze margins.
Cost management was a key driver of the turnaround. Administrative expenses fell sharply to N57.58 million, compared with N2.78 billion the previous year, largely due to the absence of a one-off N2.67 billion foreign exchange loss that had weighed heavily on the 2024 results.
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Despite the profit, gross margins remained tight, falling to 8 percent from 29 percent as the cost of providing services jumped 85 percent, reflecting the continued expense of sourcing equipment and technology.
The balance sheet tells a cautious tale. Total equity remained negative at N4.61 billion, only slightly improved from N4.81 billion in 2024, while total liabilities rose to N12.43 billion, including N9.20 billion owed to related parties.
Total assets expanded to N7.81 billion from N4.43 billion, driven mainly by higher receivables, and cash balances increased to N1.74 billion from N523 million, offering some operational breathing room.
Earnings per share improved to N1.82 from a loss of N20.11 the previous year. Cardtronics Inc. remains the majority shareholder with a 61.76 percent stake, while the company’s free float of 36.61 percent meets Nigerian Exchange Main Board requirements.
Having gained more than 2,500 percent a year ago, shares of NCR Nigeria are extending their winning streak in 2026. Its current share price stands at N199.00, gaining 174 percent on that price valuation, ranking it third on the NGX in terms of year-to-date performance.
