ETI FY2020 Results: Key Highlights

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Gross earnings declined Year-on-Year (Y-o-Y) by -1.61% from N842.49bn in 2019 to N828.96bn in 2020 (fell by -6.83% in USD terms to US$2.17bn in 2020).

Revenue increased by +7.41% Y-o-Y from N586.88bn in 2019 to N630.35bn in 2020 ( grew by +1.70% in USD terms to $1.65bn in 2020).

Profit before tax and goodwill impairment declined Y-o-Y by -13.77% from N146.54bn in 2019 to N126.37bn in 2020 (declined by -18.35% in USD to $330.76m in 2020).

Profit before tax declined Y-o-Y by -55.33% from N146.54bn in 2019 to N65.46bn in 2020 (in USD it fell by -57.70% to $171.34m in 2020).

Earnings per share (eps) from continuing operations dropped Y-o-Y by -95.59% from 281.57kobo in 2019 to 12.423kobo in 2020 (a slide by -95.76% in USD terms to 0.033cents in 2020)

Total assets increased Y-o-Y by +19.12% from N8.62trn in 2019 to N10.27trn in 2020 (or in dollar terms increased by +8.51% to $25.65bn in 2020)

Total equity grew Y-o-Y by +17.07% from N687.74bn in 2019 to N805.11bn in 2020 (up by +6.65% in US dollar terms to $2.01bn in 2020)

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