NCR (NIGERIA) : QUARTER 5 - FINANCIAL STATEMENT FOR 2022

DocuSign Envelope ID: 37A650EC-D15E-44F0-BAB2-A372E5E3335C

NCR (NIGERIA) PLC

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

DocuSign Envelope ID: 37A650EC-D15E-44F0-BAB2-A372E5E3335C

NCR (NIGERIA) PLC
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Contents	Page
Corporation Information	1
Directors' Report	2 - 6
Sustainability Statement	7 - 8
Corporate Governance Report	9 - 12
Complaints Management Policy	13 - 14
Statement of Directors' Responsibilities	15
Statement of Corporate Responsibility for Financial Statements	16
Audit Committee Report	17
Report of the Independent Auditors	18 - 20
IFRS Financial Statements
Statement of profit or loss and other comprehensive income	21
Statement of financial position	22
Statement of changes in equity	23
Statement of cash flows	24
Notes to the Financial Statements	25 - 64
Other National Disclosures
Statement of value added	66
Financial summary	67

DocuSign Envelope ID: 37A650EC-D15E-44F0-BAB2-A372E5E3335C

NCR (NIGERIA) PLC

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

BOARD OF DIRECTORS, PROFESSIONAL ADVISERS, ETC.

REGISTRATION NUMBER:	RC 751
BOARD OF DIRECTORS:		Nationality	Appointed
Otunba Adekunle Ojora OFR, CON, FNIM, JP	Chairman	Nigerian
Christiana Nnawo Yisa	Country Manager/CEO - Executive Director	Nigerian
Michael Vallier	Non-Executive Director	American
Matthew Adefila	Non-Executive Director	Nigerian	27-Jan-22
Chief Bisade Biobaku	Non-Executive Director	Nigerian	27-Jan-22
Louise Georgiou	Non-Executive Director	Cypriot
REGISTERED OFFICE:	NCR (Nigeria) Plc
	NCR House
	6, Broad Street
	P.O. Box 509
	Lagos State.
	Nigeria
COMPANY SECRETARIES:	Alsec Nominees Limited
	St. Nicholas House
	10th, 12th & 13th Floors
	Catholic Mission Street
	Lagos State.
	Nigeria
	Tel: 01 - 2774920, 08033529393
INDEPENDENT AUDITORS:	Grant Thornton Nigeria
	(Chartered Accountants)
	2A Ogalade Close
	Off Ologun Agbaje Street, Off Adeola Odeku Street
	Victoria Island
	Lagos State.
REGISTRAR:	Apel Capital Registrars Limited
	Apel House,
	8, Alhaji Bashorun Street,
	Off Norman Williams,
	South-West Ikoyi, Lagos
	Nigeria
	Tel: [phone]
SOLICITOR:	Olaniwun Ajay
	The Adunola, Plot L2, Banana Island,
	Ikoyi, Lagos
	Nigeria
BANKERS:	Access Bank Plc
	CitiBank
	EcoBank Plc
	Fidelity Bank Plc
	First Bank Nigeria Plc

First City Monument Bank Plc

Guaranty Trust Bank Plc

Keystone Bank Plc

Stanbic IBTC Plc

Sterling Bank Plc

Union Bank Plc

United Bank of Africa Plc

Wema Bank Plc

Zenith Bank Plc

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DocuSign Envelope ID: 37A650EC-D15E-44F0-BAB2-A372E5E3335C

	NCR (NIGERIA) PLC
	FINANCIAL HIGHLIGHTS
	2022	2021
	₦'000	₦'000	Change %
Revenue	3,269,459	2,540,792	28.68%
Profit/(Loss) before taxation	(801,907)	317,480	-352.59%
Taxation	(208,618)	(309,928)	-32.69%
Profit/(Loss) after taxation	(1,010,525)	7,552	-13481.33%
Total comprehensive income/(Loss)	(1,006,308)	5,303	-19077.10%
Earnings/(Loss) per share (₦)	(9.36)	0.07	-13481.33%
Total assets	4,310,083	5,128,423	-15.96%
Issued and fully paid share capital (₦)	54,000	54,000	0.00%
Issued and fully paid share capital (Units)	108,000	108,000	0.00%

Dividend payment was not declared during the year.

DocuSign Envelope ID: 37A650EC-D15E-44F0-BAB2-A372E5E3335C

NCR (NIGERIA) PLC

DIRECTORS REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The directors present their report to the members of NCR (Nigeria) Plc together with the audited financial statements for the year ended 31 December 2022, which disclose the state of affairs of the company.

Legal Form

The company was incorporated on 9 December 1949 under the Companies Act of 1922 and is domiciled in Nigeria. The Company commenced operations under the name National Cash Register Company (West Africa) Limited and changed its name to NCR (Nigeria) Limited in 1974. The company was granted a listing on the Nigerian Stock Exchange on 30 May 1979. In 1990, the name of the Company was later changed to NCR (Nigeria) Public Liability Company in compliance with the Companies and Allied Matters Decree 1990. The name of the Company was changed to AT&T Global Information Solutions (Nigeria) Plc in 1994 and on 16 July 1996 the Company adopted its present name of NCR (Nigeria) Plc.

The company is a subsidiary of NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

The company introduced the first ATM in Nigeria in 1989.

NCR is headquartered in Atlanta, United States of America with over 38,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States of America ("NCR Corporation") and other countries.

61.76% of the share capital of the Company is held by NCR Corporation while the balance of 38.24% is held by Nigerians.

Principal Activity

The company's principal activity includes provision of technology and services that help businesses connect, interact and transact with their customers. The company is a technology Company that provides

innovative products which include:

• ATM (Automated Teller Machines)
• ATM Value-add Software
• Retail Point of Sales terminals (Point of Sale)
• Self Service Kiosks ▪ Self-check-in/out

NCR (Nigeria) Plc provides technology and services that help business connect, interact and transact with their customers. The company is a technology company that provides innovative products and services to help business build stronger relationships with their customers, through our presence at customer interaction points such as Automated Teller Machines (ATM), Interactive Teller Machine (ITM), Retail Point of Sales (POS), Workstations, Self Service Kiosk, Self check-in/out systems and DVD Kiosks.

Changes in the Reporting Framework

The nature and effect of the changes as a result of adoption of the new accounting standards are described in the accompanying financial statements.

Several amendments and interpretations apply for the first time in 2022, but do not have a significant impact on the financial statements of the Company. The company has not early adopted any standards, interpretations or amendments that have been issued but are not yet effective

State of Affairs

In the opinion of the Directors, the state of the Company's affairs is satisfactory and no events have occurred since the reporting date, which would affect the financial statements as presented.

Operating Results
	2022	2021
	₦'000	₦'000
Revenue	3,269,459	2,540,792
Profit/(Loss) before tax	(801,907)	317,480
Tax expense	(208,618)	(309,928)
Profit/(Loss) for the year	(1,010,525)	7,552

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