AIICO Insurance Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	112,320	97,599	75,121	54,516	54,818	58,522
Total Interest & Dividend Income	90,032	46,242	55,523	46,525	33,576	13,852
Gain (Loss) on Sale of Investments	20,413	24,034	-8,298	-10,109	-6,781	-32,239
Other Revenue	81.67	3,251	2,079	2,737	370.07	2,582
Total Revenue	222,847	171,126	124,426	93,670	81,983	42,716
Revenue Growth	45.14%	37.53%	32.84%	14.26%	91.92%	-59.14%
Policy Benefits	87,393	62,099	57,491	39,315	54,761	20,180
Policy Acquisition & Underwriting Costs	12,845	23,098	17,519	11,006	-	7,518
Selling, General & Administrative	45.32	101.66	46.05	37.96	27.2	1,305
Provision for Bad Debts	-0.48	-0.48	-0.48	-17.69	34.68	-27.34
Other Operating Expenses	33,609	20,187	12,103	12,556	1,343	7,114
Total Operating Expenses	133,892	105,485	87,158	62,897	56,166	39,613
Operating Income	88,955	65,641	37,268	30,773	25,817	3,103
Interest Expense	-62,057	-43,402	-32,523	-24,679	-22,454	-
Earnings From Equity Investments	-	-	-	-	-	-34.9
Currency Exchange Gain (Loss)	-2,523	-2,249	11,761	6,423	-676.22	-280.9
Other Non Operating Income (Expenses)	-67.77	-67.77	-328.07	-189.84	-148.9	30.96
EBT Excluding Unusual Items	24,306	19,923	16,178	12,327	2,538	2,818
Gain (Loss) on Sale of Assets	-162.07	-40.09	-694.17	21.72	12.98	-59.35
Asset Writedown	-96.69	-	440	177.5	147.55	48
Pretax Income	24,048	19,883	15,923	12,526	2,698	2,807
Income Tax Expense	2,661	2,020	730.96	390.61	405.01	257.91
Earnings From Continuing Ops.	21,386	17,862	15,192	12,136	2,293	2,549
Earnings From Discontinued Ops.	-	-	-	-	2,873	2,367
Net Income to Company	21,386	17,862	15,192	12,136	5,166	4,916
Minority Interest in Earnings	-127.21	-91.34	2.24	-53.78	-112.1	-62.73
Net Income	21,259	17,771	15,195	12,082	5,054	4,853
Preferred Dividends & Other Adjustments	-17.49	91.34	2.24	-53.78	112.1	-
Net Income to Common	21,277	17,680	15,192	12,136	4,942	4,853
Net Income Growth	29.64%	16.37%	25.19%	145.57%	1.83%	-4.11%
Shares Outstanding (Basic)	36,721	36,605	36,605	36,605	36,605	36,605
Shares Outstanding (Diluted)	36,721	36,605	36,605	36,605	36,605	36,605
Shares Change	0.84%	-	-	-	-	-
EPS (Basic)	0.58	0.48	0.42	0.33	0.14	0.13
EPS (Diluted)	0.58	0.48	0.42	0.33	0.14	0.13
EPS Growth	28.56%	16.37%	25.77%	144.44%	1.83%	-4.11%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Free Cash Flow	72,155	64,769	43,693	11,989	-4,598	-12,421
Free Cash Flow Per Share	1.97	1.77	1.19	0.33	-0.13	-0.34
Dividend Per Share	-	-	0.070	0.050	0.030	0.020
Dividend Growth	-	-	40.00%	66.67%	50.00%	-
Operating Margin	39.92%	38.36%	29.95%	32.85%	31.49%	7.27%
Profit Margin	9.55%	10.33%	12.21%	12.96%	6.03%	11.36%
Free Cash Flow Margin	32.38%	37.85%	35.12%	12.80%	-5.61%	-29.08%
EBITDA	89,966	66,617	38,091	31,572	26,571	3,713
EBITDA Margin	40.37%	38.93%	30.61%	33.70%	32.41%	8.69%
D&A For EBITDA	1,012	976.13	823.46	798.56	753.11	610.05
EBIT	88,955	65,641	37,268	30,773	25,817	3,103
EBIT Margin	39.92%	38.36%	29.95%	32.85%	31.49%	7.27%
Effective Tax Rate	11.07%	10.16%	4.59%	3.12%	15.01%	9.19%