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	Jun '26 Jun 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	107,105	97,599	75,121	54,516	54,818	58,522
Total Interest & Dividend Income	77,761	46,242	55,523	46,525	33,576	13,852
Gain (Loss) on Sale of Investments	9,054	24,034	-8,298	-10,109	-6,781	-32,239
Other Revenue	4,480	3,251	2,079	2,737	370.07	2,582
Total Revenue	198,401	171,126	124,426	93,670	81,983	42,716
Revenue Growth	37.95%	37.53%	32.84%	14.26%	91.92%	-59.14%
Policy Benefits	69,590	62,099	57,491	39,315	54,761	20,180
Policy Acquisition & Underwriting Costs	24,445	23,098	17,519	11,006	-	7,518
Selling, General & Administrative	120.52	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	21,179	20,187	12,103	12,556	1,343	7,114
Total Operating Expenses	115,334	105,485	87,158	62,897	56,166	39,613
Operating Income	83,067	65,641	37,268	30,773	25,817	3,103
Interest Expense	-56,337	-43,402	-32,523	-24,679	-22,454	-
Earnings From Equity Investments	-	-	-	-	-	-34.9
Currency Exchange Gain (Loss)	-4,026	-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	22,636	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	-16.68	-	440	177.5	147.55	48
Pretax Income	22,457	19,883	15,923	12,526	2,698	2,807
Income Tax Expense	2,460	2,020	730.96	390.61	405.01	257.91
Earnings From Continuing Ops.	19,997	17,862	15,192	12,136	2,293	2,549
Earnings From Discontinued Ops.	-	-	-	-	2,873	2,367
Net Income to Company	19,997	17,862	15,192	12,136	5,166	4,916
Minority Interest in Earnings	-64.81	-91.34	2.24	-53.78	-112.1	-62.73
Net Income	19,932	17,771	15,195	12,082	5,054	4,853
Preferred Dividends & Other Adjustments	64.81	91.34	2.24	-53.78	112.1	-
Net Income to Common	19,867	17,680	15,192	12,136	4,942	4,853
Net Income Growth	48.73%	16.37%	25.19%	145.57%	1.83%	-4.11%
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	-	-	-	-	-	-
EPS (Basic)	0.54	0.48	0.42	0.33	0.14	0.13
EPS (Diluted)	0.54	0.48	0.42	0.33	0.14	0.13
EPS Growth	48.73%	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	Jun '26 Jun 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	102,231	64,769	43,693	11,989	-4,598	-12,421
Free Cash Flow Per Share	2.79	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	41.87%	38.36%	29.95%	32.85%	31.49%	7.27%
Profit Margin	10.01%	10.33%	12.21%	12.96%	6.03%	11.36%
Free Cash Flow Margin	51.53%	37.85%	35.12%	12.80%	-5.61%	-29.08%
EBITDA	84,034	66,617	38,091	31,572	26,571	3,713
EBITDA Margin	42.36%	38.93%	30.61%	33.70%	32.41%	8.69%
D&A For EBITDA	967.62	976.13	823.46	798.56	753.11	610.05
EBIT	83,067	65,641	37,268	30,773	25,817	3,103
EBIT Margin	41.87%	38.36%	29.95%	32.85%	31.49%	7.27%
Effective Tax Rate	10.95%	10.16%	4.59%	3.12%	15.01%	9.19%