AIICO Insurance Plc (NGX:AIICO)

AIICO Insurance Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	85,141	75,005	54,516	54,818	58,522	52,780
Total Interest & Dividend Income	41,156	55,528	46,525	33,576	13,852	11,767
Gain (Loss) on Sale of Investments	9,763	-8,994	-10,109	-6,781	-32,239	38,034
Other Revenue	2,070	2,070	2,737	370.07	2,582	1,963
Total Revenue	138,131	123,609	93,670	81,983	42,716	104,544
Revenue Growth (YoY)	42.42%	31.96%	14.26%	91.92%	-59.14%	48.56%
Policy Benefits	63,223	57,493	39,315	54,761	20,180	83,240
Policy Acquisition & Underwriting Costs	18,783	17,519	11,006	-	7,518	6,347
Selling, General & Administrative	64.79	46.05	37.96	27.2	1,305	1,508
Provision for Bad Debts	-	-	-17.69	34.68	-27.34	-61.25
Other Operating Expenses	11,004	12,111	12,556	1,343	7,114	6,386
Total Operating Expenses	93,074	87,169	62,897	56,166	39,613	101,338
Operating Income	45,057	36,440	30,773	25,817	3,103	3,206
Interest Expense	-37,916	-32,551	-24,679	-22,454	-	-96.74
Earnings From Equity Investments	-	-	-	-	-34.9	-
Currency Exchange Gain (Loss)	3,403	11,761	6,423	-676.22	-280.9	1,633
Other Non Operating Income (Expenses)	-285.29	-285.29	-189.84	-148.9	30.96	-97.99
EBT Excluding Unusual Items	10,258	15,365	12,327	2,538	2,818	4,643
Gain (Loss) on Sale of Assets	10.97	11.38	21.72	12.98	-59.35	2.58
Asset Writedown	440	440	177.5	147.55	48	-14
Pretax Income	10,709	15,817	12,526	2,698	2,807	4,632
Income Tax Expense	202.03	716.14	390.61	405.01	257.91	-348.26
Earnings From Continuing Ops.	10,507	15,100	12,136	2,293	2,549	4,980
Earnings From Discontinued Ops.	-	-	-	2,873	2,367	269.49
Net Income to Company	10,507	15,100	12,136	5,166	4,916	5,250
Minority Interest in Earnings	42.55	25.48	-53.78	-112.1	-62.73	-188.71
Net Income	10,550	15,126	12,082	5,054	4,853	5,061
Preferred Dividends & Other Adjustments	25.48	25.48	-53.78	112.1	-	-
Net Income to Common	10,524	15,100	12,136	4,942	4,853	5,061
Net Income Growth	-46.89%	25.19%	139.06%	4.14%	-4.11%	-12.50%
Shares Outstanding (Basic)	36,605	36,605	36,605	36,605	36,605	36,605
Shares Outstanding (Diluted)	36,605	36,605	36,605	36,605	36,605	36,605
Shares Change (YoY)	-0.25%	-	-	-	-	67.68%
EPS (Basic)	0.29	0.41	0.33	0.14	0.13	0.14
EPS (Diluted)	0.28	0.41	0.33	0.14	0.13	0.14
EPS Growth	-47.69%	24.24%	144.44%	1.83%	-4.11%	-47.53%
Free Cash Flow	56,494	43,692	11,989	-4,598	-12,421	31,278
Free Cash Flow Per Share	1.54	1.19	0.33	-0.13	-0.34	0.85
Dividend Per Share	0.070	0.070	0.050	0.030	0.020	-
Dividend Growth	40.00%	40.00%	66.67%	50.00%	-	-
Operating Margin	32.62%	29.48%	32.85%	31.49%	7.27%	3.07%
Profit Margin	7.62%	12.22%	12.96%	6.03%	11.36%	4.84%
Free Cash Flow Margin	40.90%	35.35%	12.80%	-5.61%	-29.08%	29.92%
EBITDA	45,918	37,264	31,572	26,571	3,713	3,842
EBITDA Margin	33.24%	30.15%	33.70%	32.41%	8.69%	3.67%
D&A For EBITDA	861.49	824.34	798.56	753.11	610.05	636.26
EBIT	45,057	36,440	30,773	25,817	3,103	3,206
EBIT Margin	32.62%	29.48%	32.85%	31.49%	7.27%	3.07%
Effective Tax Rate	1.89%	4.53%	3.12%	15.01%	9.19%	-

Updated Jan 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.