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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	93,248	65,190	57,304	40,881	33,893	28,028
Total Interest & Dividend Income	33,732	18,751	13,657	12,235	10,532	9,729
Gain (Loss) on Sale of Investments	30,435	-4,593	-6,605	-14,854	21,921	5,202
Non-Insurance Activities Revenue	6,591	5,344	5,897	825.4	1,182	-
Other Revenue	6,208	5,222	4,339	5,696	4,988	4,485
Total Revenue	170,213	89,913	74,591	44,784	72,516	47,444
Revenue Growth (YoY)	69.43%	20.54%	66.56%	-38.24%	52.84%	39.54%
Policy Benefits	108,446	69,217	53,732	15,351	47,130	28,116
Policy Acquisition & Underwriting Costs	-	-	-	5,424	4,443	3,755
Amortization of Goodwill & Intangibles	79.25	51.91	40.44	86.87	83.16	86.6
Depreciation & Amortization	786.87	736.46	672.71	559.92	425.05	427.55
Selling, General & Administrative	7,244	6,077	5,012	5,600	3,756	2,647
Non-Insurance Activities Expense	3,722	3,442	4,289	685.13	1,423	-
Other Operating Expenses	-474.87	-795.71	-742.51	478.42	102.98	1,789
Total Operating Expenses	124,696	82,293	65,898	31,803	60,122	39,335
Operating Income	45,517	7,620	8,693	12,981	12,393	8,109
Interest Expense	-245.28	-248.3	-198.4	-555.85	-302.17	-0.49
Earnings From Equity Investments	1,555	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)	-218.85	-192.4	149.59	-726.28	380.2	-42.43
EBT Excluding Unusual Items	64,186	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	64,186	25,991	11,476	12,322	13,686	8,070
Income Tax Expense	11,611	6,314	2,614	2,151	896.94	2,058
Earnings From Continuing Ops.	52,575	19,677	8,861	10,171	12,789	6,012
Earnings From Discontinued Ops.	-	-	-	-116.29	-101.62	-
Net Income to Company	52,575	19,677	8,861	10,055	12,687	6,012
Minority Interest in Earnings	-974.09	-620.25	-488.58	605.11	-1,271	-278.62
Net Income	51,601	19,057	8,373	10,660	11,417	5,733
Net Income to Common	51,601	19,057	8,373	10,660	11,417	5,733
Net Income Growth	259.05%	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)	8.77	3.24	1.42	1.81	1.94	0.97
EPS (Diluted)	8.77	3.24	1.42	1.81	1.94	0.97
EPS Growth	259.05%	127.61%	-21.45%	-6.63%	100.10%	-16.31%
Free Cash Flow	44,118	28,070	17,503	-7,068	46,245	9,351
Free Cash Flow Per Share	7.50	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	14.29%	23.08%	30.00%	-9.09%	22.22%	0%
Operating Margin	26.74%	8.47%	11.65%	28.99%	17.09%	17.09%
Profit Margin	30.32%	21.20%	11.22%	23.80%	15.74%	12.08%
Free Cash Flow Margin	25.92%	31.22%	23.47%	-15.78%	63.77%	19.71%
EBITDA	46,339	8,359	9,275	13,412	12,972	8,530
EBITDA Margin	27.22%	9.30%	12.43%	29.95%	17.89%	17.98%
D&A For EBITDA	821.69	739.08	581.74	431.15	578.32	420.31
EBIT	45,517	7,620	8,693	12,981	12,393	8,109
EBIT Margin	26.74%	8.47%	11.65%	28.98%	17.09%	17.09%
Effective Tax Rate	18.09%	24.29%	22.78%	17.46%	6.55%	25.50%

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