What Medview Airlines Have Told Us So Far From from their Listing

Nigeria’s local airline, Medview listed on Tuesday, January 31 2017 on the Nigerian stock exchange. The company listed by introduction 9,750,649,400 ordinary shares of 50kobo each at N1.50 per share making it the first listing in 2017. The company was listed with a lot of fanfare and reasonably so, considering that it is the first since Transcorp listed in January 2015. The company also released an investor presentation providing us with our first glimpse of the company’s financials, since it began operations in 2007. Sadly, they only provided us with their results covering the period 2012 to 2016. So here is what we’ve learnt from Medview thus far;

Corporate Information

• Medview is licensed to operate passenger and cargo services within and outside the country.

• In 2012 Medview started domestic operations and in 2014 started both regional and international operations.

• Medview has lifted over 3,000,000 million domestic passengers since inception.

• Medview is designated to fly 14 new international designations.

Financial Information

• Revenue went up from ₦3.6 billion naira in 2012 to ₦25.8 billion in 2016.

• Gross profit increased from ₦847 million naira to ₦1.6 billion naira in 2016.

• Profit before tax increased from ₦110 million naira in 2012 to ₦949 million naira in 2016.

• Total assets increased from ₦4.8 billion naira in 2012 to ₦14.0 billion naira in 2016.

• Total liabilities increased from ₦1.3 billion in 2012 to ₦7.4 billion in 2016.

• Shareholders funds increased from ₦3.5 billion in 2012 to ₦6.6 billion naira in 2016.