Custodian Investment Plc (NGX: CUSTODIAN)

Custodian Investment Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	84,743	65,190	57,304	40,881	33,893	28,028
Total Interest & Dividend Income	22,390	18,751	13,657	12,235	10,532	9,729
Gain (Loss) on Sale of Investments	3,474	-4,593	-6,605	-14,854	21,921	5,202
Non-Insurance Activities Revenue	5,792	5,344	5,897	825.4	1,182	-
Other Revenue	5,760	5,222	4,339	5,696	4,988	4,485
Total Revenue	122,158	89,913	74,591	44,784	72,516	47,444
Revenue Growth (YoY)	41.26%	20.54%	66.56%	-38.24%	52.84%	39.54%
Policy Benefits	80,413	69,217	53,732	15,351	47,130	28,116
Policy Acquisition & Underwriting Costs	-	-	-	5,424	4,443	3,755
Amortization of Goodwill & Intangibles	61.67	51.91	40.44	86.87	83.16	86.6
Depreciation & Amortization	776.26	736.46	672.71	559.92	425.05	427.55
Selling, General & Administrative	7,133	6,077	5,012	5,600	3,756	2,647
Non-Insurance Activities Expense	3,514	3,442	4,289	685.13	1,423	-
Other Operating Expenses	-795.71	-795.71	-742.51	478.42	102.98	1,789
Total Operating Expenses	95,703	82,293	65,898	31,803	60,122	39,335
Operating Income	26,455	7,620	8,693	12,981	12,393	8,109
Interest Expense	-240.3	-248.3	-198.4	-555.85	-302.17	-0.49
Earnings From Equity Investments	1,619	1,233	233.07	308.48	4.78	3.82
Currency Exchange Gain (Loss)	17,578	17,578	2,639	315.33	-	-
Other Non Operating Income (Expenses)	-196.55	-192.4	149.59	-726.28	380.2	-42.43
EBT Excluding Unusual Items	45,216	25,991	11,517	12,322	12,476	8,070
Gain (Loss) on Sale of Assets	-	-	-41.08	-	-	-
Other Unusual Items	-	-	-	-	1,210	-0.75
Pretax Income	45,216	25,991	11,476	12,322	13,686	8,070
Income Tax Expense	8,066	6,314	2,614	2,151	896.94	2,058
Earnings From Continuing Ops.	37,150	19,677	8,861	10,171	12,789	6,012
Earnings From Discontinued Ops.	-	-	-	-116.29	-101.62	-
Net Income to Company	37,150	19,677	8,861	10,055	12,687	6,012
Minority Interest in Earnings	-819.03	-620.25	-488.58	605.11	-1,271	-278.62
Net Income	36,331	19,057	8,373	10,660	11,417	5,733
Net Income to Common	36,331	19,057	8,373	10,660	11,417	5,733
Net Income Growth	316.96%	127.61%	-21.45%	-6.63%	99.13%	-15.91%
Shares Outstanding (Basic)	5,882	5,882	5,882	5,882	5,882	5,882
Shares Outstanding (Diluted)	5,882	5,882	5,882	5,882	5,882	5,882
EPS (Basic)	6.18	3.24	1.42	1.81	1.94	0.97
EPS (Diluted)	6.18	3.24	1.42	1.81	1.94	0.97
EPS Growth	316.96%	127.61%	-21.45%	-6.63%	100.10%	-16.31%
Free Cash Flow	53,654	28,070	17,503	-7,068	46,245	9,351
Free Cash Flow Per Share	9.12	4.77	2.98	-1.20	7.86	1.59
Dividend Per Share	0.800	0.800	0.650	0.500	0.550	0.450
Dividend Growth	0%	23.08%	30.00%	-9.09%	22.22%	0%
Operating Margin	21.66%	8.47%	11.65%	28.99%	17.09%	17.09%
Profit Margin	29.74%	21.20%	11.22%	23.80%	15.74%	12.08%
Free Cash Flow Margin	43.92%	31.22%	23.47%	-15.78%	63.77%	19.71%
EBITDA	27,270	8,359	9,275	13,412	12,972	8,530
EBITDA Margin	22.32%	9.30%	12.43%	29.95%	17.89%	17.98%
D&A For EBITDA	814.86	739.08	581.74	431.15	578.32	420.31
EBIT	26,455	7,620	8,693	12,981	12,393	8,109
EBIT Margin	21.66%	8.47%	11.65%	28.98%	17.09%	17.09%
Effective Tax Rate	17.84%	24.29%	22.78%	17.46%	6.55%	25.50%

Source: S&P Capital IQ. Insurance template. Financial Sources.