NAHCO Posts N24bn Profit, Targets Airport Concession Opportunities

The Nigerian Aviation Handling Company Plc recorded a profit before tax of N24.28bn for the 2025 financial year as the company signalled interest in the Federal Government’s planned concession of major airport terminals nationwide.

The disclosure was made during the company’s 45th Annual General Meeting held in Lagos, where shareholders urged the management to leverage its strong financial standing and operational capacity to compete for airport ownership and management under the Federal Government’s privatisation initiative.

The Federal Government is currently pursuing the concession of five major international airport terminals through a Public-Private Partnership arrangement supervised by the Bureau of Public Enterprises and the Ministry of Aviation and Aerospace Development.

Speaking at the AGM, President of the Association for the Advancement of Rights of Nigerian Shareholders, Farouk Umar, said NAHCO had attained the financial and operational strength required to bid for airport concessions both within and outside Nigeria.

According to him, the company’s strong market performance has continued to deliver impressive returns to shareholders.

“NAHCO has now reached a level that they can even provide the same services in other African countries. The government is trying to privatise the airport, and I call on NAHCO to bid because they have the capability and financial position to win,” Umar said.

He added that the company’s share price rose from N80 last year to over N200, while shareholders are also benefiting from bonus shares and expanding business partnerships with airlines including Fly Gabon, Saudi Arabia, and Qatar.

Financial results presented at the meeting showed that total revenue increased by 22.93 per cent from N53.54bn in 2024 to N65.82bn in 2025.

Profit before tax rose by 29.83 per cent from N18.70bn to N24.28bn, while profit after tax grew by 36.02 per cent from N12.87bn to N17.5bn. Earnings per share also increased from N6.60 in 2024 to N8.99 in 2025.

Chairman of the NAHCO Group, Seinde Fadeni, attributed the strong performance to operational efficiency and disciplined cost management despite prevailing economic challenges.

“We recorded impressive growth across key performance indicators, combining a strong push for market share with disciplined cost management,” Fadeni said.

He disclosed that the board recommended a dividend payment of N6.25 per share alongside a bonus issue of one share for every seven shares held for the 2025 financial year.

Fadeni, however, noted that rising fuel prices and inflation remain significant operational challenges affecting the company’s cost profile.

Group Managing Director and Chief Executive Officer of NAHCO, Olumuyiwa Olumekun, said the company maintained its leadership position in aviation services despite economic headwinds.

“Our stock performance was stellar, with a 188 per cent year-to-year gain and a market cap exceeding N200bn. We unveiled a five-year strategic diversification plan to push revenue beyond N300bn through new ventures and collaborations,” Olumekun said.

He further revealed that the company had acquired more than 271 new ground support equipment units over the past three years to modernise operations and improve service efficiency.