Skyway Aviation Handling Company Plc (SAHCO) has recorded ₦53.02 billion as profit for the nine months ended September 30, 2025, representing a 31% increase from ₦40.62 billion in the same period in 2024.
The company’s unaudited condensed statement of financial position, released on Friday, shows steady growth in non-current and current assets, underscoring SAHCO’s operational expansion and enhanced liquidity position within Nigeria’s aviation services sector.
According to the statement signed by Barr. (Dr.) Taiwo Afolabi, Chairman; Mrs. Adenike Aboderin, Managing Director/CEO; and Mr Abiodun Adegbesan, Director – Finance and Accounts, the company’s non-current assets rose to ₦27.45 billion in Q3 2025, up from ₦21.95 billion in the corresponding period of 2024. The growth was largely driven by an increase in property, plant, and equipment, which surged to ₦21.88 billion, compared to ₦16.09 billion in 2024.
Similarly, current assets advanced to ₦25.58 billion as of September 30, 2025, up from ₦18.67 billion a year earlier. The company’s cash and cash equivalents stood at ₦4.37 billion, reflecting improved liquidity against ₦3.86 billion in the same quarter of 2024. Trade and other receivables also grew significantly to ₦19.39 billion, compared to ₦11.63 billion in the prior-year period.
On the equity front, SAHCO maintained a robust capital structure, with total equity increasing to ₦36.98 billion in Q3 2025, compared with ₦29.46 billion in Q3 2024. The company’s retained earnings rose to ₦18.43 billion, indicating sustained profitability and reinvestment in operations.
However, the report shows a marginal rise in liabilities, with total liabilities amounting to ₦16.05 billion as of September 2025, up from ₦11.16 billion in September 2024. This was primarily due to an uptick in trade and other payables, which increased to ₦7.52 billion from ₦4.31 billion in the same period last year.
SAHCO’s defined benefit obligations also rose to ₦3.90 billion from ₦3.21 billion a year earlier, reflecting adjustments to employee-related liabilities and pension commitments.
The company continues to sustain healthy financing levels, with long-term borrowings decreasing to ₦2.28 billion from ₦2.78 billion a year earlier, signalling improved debt management and repayment capacity.
Analysts note that SAHCO’s continued investment in infrastructure and ground-handling equipment is positioning it strongly for growth, especially as air traffic volumes rebound in Nigeria’s aviation industry.
The company’s Board of Directors approved the financial statement on October 30, 2025, reaffirming SAHCO’s commitment to transparency and timely financial reporting in line with regulatory standards.
Key Highlights (as of September 30, 2025):
Total Assets: ₦53.02 billion (up from ₦40.62 billion in Sept. 2024)
Non-Current Assets: ₦27.45 billion
Current Assets: ₦25.58 billion
Total Equity: ₦36.98 billion
Total Liabilities: ₦16.05 billion
Property, Plant & Equipment: ₦21.88 billion
Cash & Cash Equivalents: ₦4.37 billion
Trade & Other Receivables: ₦19.39 billion
