Cornerstone 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	57,853	51,656	38,669	25,914	20,484	8,666
Total Interest & Dividend Income	2,773	4,386	5,729	2,222	1,288	1,643
Gain (Loss) on Sale of Investments	3,916	809.01	-116.12	529.08	83.54	-817.66
Other Revenue	5,770	5,444	-1,764	382.76	319.16	2,228
Total Revenue	70,312	62,295	42,518	29,048	22,175	11,720
Revenue Growth	29.54%	46.52%	46.37%	31.00%	89.21%	18.89%
Policy Benefits	32,659	27,341	26,870	17,543	12,659	2,595
Policy Acquisition & Underwriting Costs	7,207	7,207	5,015	4,278	2,773	2,963
Amortization of Goodwill & Intangibles	5.49	5.49	5.46	5.64	-	13.41
Depreciation & Amortization	474.49	474.49	364.48	252.25	-	198.94
Selling, General & Administrative	3,468	3,358	2,223	1,761	6,715	42.76
Other Operating Expenses	4,080	4,080	5,292	4,735	193.37	1,425
Total Operating Expenses	52,913	47,485	44,779	32,153	22,500	9,482
Operating Income	17,399	14,810	-2,261	-3,105	-324.72	2,237
Earnings From Equity Investments	-	-	-	0.36	-	95.23
Currency Exchange Gain (Loss)	-9,159	-6,129	30,832	20,244	606.36	1,386
Other Non Operating Income (Expenses)	769.54	690.11	77.15	-84.81	51.44	-0.61
EBT Excluding Unusual Items	9,009	9,371	28,648	17,055	333.07	3,718
Gain (Loss) on Sale of Assets	4.84	4.84	-4.73	13.88	0.05	0.14
Asset Writedown	-	-	-	85	55	23
Other Unusual Items	-36.73	-36.73	-23.8	-72.47	-	-
Pretax Income	8,977	9,339	28,619	17,081	388.13	3,741
Income Tax Expense	-2,738	-3,027	2,726	3,243	371.74	205.07
Earnings From Continuing Ops.	11,715	12,366	25,894	13,839	16.39	3,536
Minority Interest in Earnings	180.61	-143.98	-310.22	-137.33	-16.32	-24.72
Net Income	11,896	12,222	25,583	13,701	0.07	3,511
Net Income to Common	11,896	12,222	25,583	13,701	0.07	3,511
Net Income Growth	34.22%	-52.23%	86.72%	21079026.15%	-100.00%	60.99%
Shares Outstanding (Basic)	18,142	18,032	18,032	18,032	18,032	18,032
Shares Outstanding (Diluted)	18,142	18,032	18,032	18,032	18,032	18,032
Shares Change	0.61%	-	-	-	-	-0.10%
EPS (Basic)	0.66	0.68	1.42	0.76	0.00	0.19
EPS (Diluted)	0.66	0.68	1.42	0.76	0.00	0.19
EPS Growth	33.41%	-52.23%	86.72%	25327700.00%	-100.00%	61.14%

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	-	6,640	1,017	3,815	1,953	464.59
Free Cash Flow Per Share	-	0.37	0.06	0.21	0.11	0.03
Dividend Per Share	0.280	0.280	0.270	0.160	0.060	0.050
Dividend Growth	3.70%	3.70%	68.75%	166.67%	20.00%	-
Operating Margin	24.75%	23.77%	-5.32%	-10.69%	-1.46%	19.09%
Profit Margin	16.92%	19.62%	60.17%	47.17%	0.00%	29.96%
Free Cash Flow Margin	-	10.66%	2.39%	13.13%	8.81%	3.96%
EBITDA	17,941	15,290	-1,891	-2,847	-117.57	2,450
EBITDA Margin	25.52%	24.54%	-4.45%	-9.80%	-0.53%	20.90%
D&A For EBITDA	542.24	479.97	369.94	257.89	207.15	212.35
EBIT	17,399	14,810	-2,261	-3,105	-324.72	2,237
EBIT Margin	24.75%	23.77%	-5.32%	-10.69%	-1.46%	19.09%
Effective Tax Rate	-	-	9.53%	18.98%	95.78%	5.48%