- Continuing trend of increasing collections.
- Aggregate technical, commercial and collection losses statistically flat.
- Increased energy inflows coupled with a tendency of payments to lag.
- 3,500 customers responsible for 27% of billed revenue and 40% of collections.
- Growing market indebtedness due to tariff mismatch resulting in a gross margin loss in most months…
2018 Financial Priorities
- Engagement of the various stakeholders in FGN and its agencies on the timeline for the implementation of the PSRP interventions.
- Focus on improving cash generation from operations, driven by improvement in performance of underlying subsidiaries.
- Mitigation of the currency mismatch between assets and liabilities across the group entities.
- Raising of equity at CEC Africa / KANN to optimise the capital structure.
- Restructuring of the UBA acquisition facility in order to re-profile the debt repayments to align with the revised business plan.
2018 Annual General Meeting Management Report.pdf