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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	91,616	75,005	54,516	54,818	58,522	52,780
Total Interest & Dividend Income	32,013	55,528	46,525	33,576	13,852	11,767
Gain (Loss) on Sale of Investments	6,812	-8,994	-10,109	-6,781	-32,239	38,034
Other Revenue	4,550	2,070	2,737	370.07	2,582	1,963
Total Revenue	134,992	123,609	93,670	81,983	42,716	104,544
Revenue Growth (YoY)	28.05%	31.96%	14.26%	91.92%	-59.14%	48.56%
Policy Benefits	65,106	57,493	39,315	54,761	20,180	83,240
Policy Acquisition & Underwriting Costs	21,324	17,519	11,006	-	7,518	6,347
Selling, General & Administrative	3.09	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	20,621	12,111	12,556	1,343	7,114	6,386
Total Operating Expenses	107,053	87,169	62,897	56,166	39,613	101,338
Operating Income	27,938	36,440	30,773	25,817	3,103	3,206
Interest Expense	-15,020	-32,551	-24,679	-22,454	-	-96.74
Earnings From Equity Investments	-	-	-	-	-34.9	-
Currency Exchange Gain (Loss)	908.25	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	13,542	15,365	12,327	2,538	2,818	4,643
Gain (Loss) on Sale of Assets	8.32	11.38	21.72	12.98	-59.35	2.58
Asset Writedown	440	440	177.5	147.55	48	-14
Pretax Income	13,990	15,817	12,526	2,698	2,807	4,632
Income Tax Expense	752.05	716.14	390.61	405.01	257.91	-348.26
Earnings From Continuing Ops.	13,238	15,100	12,136	2,293	2,549	4,980
Earnings From Discontinued Ops.	-	-	-	2,873	2,367	269.49
Net Income to Company	13,238	15,100	12,136	5,166	4,916	5,250
Minority Interest in Earnings	-11.18	25.48	-53.78	-112.1	-62.73	-188.71
Net Income	13,227	15,126	12,082	5,054	4,853	5,061
Preferred Dividends & Other Adjustments	32.96	25.48	-53.78	112.1	-	-
Net Income to Common	13,194	15,100	12,136	4,942	4,853	5,061
Net Income Growth	-28.33%	25.19%	139.06%	4.14%	-4.11%	-12.50%
Shares Outstanding (Basic)	37,107	36,605	36,605	36,605	36,605	36,605
Shares Outstanding (Diluted)	37,107	36,605	36,605	36,605	36,605	36,605
Shares Change (YoY)	-1.92%	-	-	-	-	67.68%
EPS (Basic)	0.36	0.41	0.33	0.14	0.13	0.14
EPS (Diluted)	0.35	0.41	0.33	0.14	0.13	0.14
EPS Growth	-27.96%	24.24%	144.44%	1.83%	-4.11%	-47.53%
Free Cash Flow	21,402	43,692	11,989	-4,598	-12,421	31,278
Free Cash Flow Per Share	0.58	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	20.70%	29.48%	32.85%	31.49%	7.27%	3.07%
Profit Margin	9.77%	12.22%	12.96%	6.03%	11.36%	4.84%
Free Cash Flow Margin	15.85%	35.35%	12.80%	-5.61%	-29.08%	29.92%
EBITDA	28,776	37,264	31,572	26,571	3,713	3,842
EBITDA Margin	21.32%	30.15%	33.70%	32.41%	8.69%	3.67%
D&A For EBITDA	837.42	824.34	798.56	753.11	610.05	636.26
EBIT	27,938	36,440	30,773	25,817	3,103	3,206
EBIT Margin	20.70%	29.48%	32.85%	31.49%	7.27%	3.07%
Effective Tax Rate	5.38%	4.53%	3.12%	15.01%	9.19%	-

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