AIICO Insurance Cash Flow Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	16,421	15,126	12,082	5,054	4,853	5,061	Upgrade
Depreciation & Amortization	1,016	946.55	917.05	849.61	714.34	723.43	Upgrade
Other Amortization	253.57	90.25	39.39	39.72	30.24	98.11	Upgrade
Other Operating Activities	23,719	29,418	373.85	-9,131	-17,154	26,078	Upgrade
Operating Cash Flow	41,409	45,581	13,412	-3,188	-11,556	31,961	Upgrade
Operating Cash Flow Growth	22.96%	239.85%	-	-	-	195.74%	Upgrade
Capital Expenditures	-2,518	-1,889	-1,424	-1,410	-864.11	-682.66	Upgrade
Sale of Property, Plant & Equipment	56.49	12.12	83.26	41.02	11.22	335.19	Upgrade
Purchase / Sale of Intangible Assets	-1,019	-323.22	-18.35	-33.64	-75.9	-44.81	Upgrade
Investment in Securities	-147,817	-58,487	-34,046	-20,959	-11,926	-17,307	Upgrade
Other Investing Activities	98,379	30,629	23,211	16,445	19,774	8,769	Upgrade
Investing Cash Flow	-51,636	-29,909	-11,955	-5,731	6,919	-8,930	Upgrade
Total Debt Repaid	-	-	-	-	-	-2,443	Upgrade
Net Debt Issued (Repaid)	-	-	-	-	-	-2,443	Upgrade
Issuance of Common Stock	-	-	-	-	-	3,390	Upgrade
Common Dividends Paid	-2,562	-1,830	-1,098	-732.11	-	-	Upgrade
Other Financing Activities	-	-	-	-	-	-394.43	Upgrade
Financing Cash Flow	-2,562	-1,830	-1,098	-732.11	-	552.51	Upgrade
Foreign Exchange Rate Adjustments	542.5	2,929	2,155	76.42	-25.6	-	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-0	-0	-1,761	-1,750	Upgrade
Net Cash Flow	-12,247	16,771	2,514	-9,575	-6,423	21,833	Upgrade
Free Cash Flow	38,891	43,692	11,989	-4,598	-12,421	31,278	Upgrade
Free Cash Flow Growth	22.21%	264.44%	-	-	-	224.18%	Upgrade
Free Cash Flow Margin	23.63%	35.35%	12.80%	-5.61%	-29.08%	29.92%	Upgrade
Free Cash Flow Per Share	1.06	1.19	0.33	-0.13	-0.34	0.85	Upgrade
Cash Interest Paid	8,657	3,763	3,502	3,723	-	283.29	Upgrade
Cash Income Tax Paid	644.87	436.02	328.44	162.99	201.79	222.17	Upgrade
Levered Free Cash Flow	-34,926	-18,368	56,019	-69,440	30,514	-35,324	Upgrade
Unlevered Free Cash Flow	-6,283	1,976	71,443	-55,406	30,514	-35,264	Upgrade

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