LASACO Assurance Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	29,982	22,838	18,294	13,470	8,187
Total Interest & Dividend Income	3,153	2,236	1,350	356.21	656.17
Gain (Loss) on Sale of Investments	401.88	57.33	107.01	-10.42	47.96
Other Revenue	45.43	116.47	458.42	-0.11	985.6
Total Revenue	33,582	25,248	20,210	13,816	9,876
Revenue Growth (YoY)	33.01%	24.93%	46.28%	39.89%	12.24%
Policy Benefits	32,053	25,703	17,796	11,172	4,069
Policy Acquisition & Underwriting Costs	-	-	-	-	1,614
Amortization of Goodwill & Intangibles	147.46	59.97	32.89	0.02	-
Depreciation & Amortization	322.16	493.63	486.96	324.81	-
Selling, General & Administrative	5,479	1,358	1,352	918.98	4,609
Other Operating Expenses	164.78	-27.58	129.6	138.65	110.71
Total Operating Expenses	39,578	29,821	20,982	13,895	10,760
Operating Income	-5,997	-4,573	-771.71	-79.2	-883.5
Interest Expense	-	-	-4.32	-1.89	-17.94
Currency Exchange Gain (Loss)	-	3,290	2,370	831.59	618.06
Other Non Operating Income (Expenses)	-	-10.39	-52.24	132.11	149.5
EBT Excluding Unusual Items	-5,997	-1,293	1,542	882.62	-133.88
Gain (Loss) on Sale of Assets	571.35	42.9	11.79	-7.23	7.57
Asset Writedown	2,448	3,132	126.41	703.9	406.17
Pretax Income	-2,978	1,882	1,680	1,579	279.85
Income Tax Expense	94.82	342.49	362.57	61.68	18.47
Net Income	-3,072	1,540	1,318	1,518	261.38
Net Income to Common	-3,072	1,540	1,318	1,518	261.38
Net Income Growth	-	16.85%	-13.18%	480.61%	-61.52%
Shares Outstanding (Basic)	11,084	1,834	1,834	1,834	1,834
Shares Outstanding (Diluted)	11,084	1,834	1,834	1,834	1,834
Shares Change (YoY)	504.49%	-	-	-	-
EPS (Basic)	-0.28	0.84	0.72	0.83	0.14
EPS (Diluted)	-0.28	0.84	0.72	0.83	0.14
EPS Growth	-	16.85%	-13.18%	480.61%	-61.52%
Free Cash Flow	-14,641	-3,443	-2,422	-1,280	-519.13
Free Cash Flow Per Share	-1.32	-1.88	-1.32	-0.70	-0.28
Dividend Per Share	-	-	-	0.150	-
Operating Margin	-17.86%	-18.11%	-3.82%	-0.57%	-8.95%
Profit Margin	-9.15%	6.10%	6.52%	10.98%	2.65%
Free Cash Flow Margin	-43.60%	-13.64%	-11.98%	-9.26%	-5.26%
EBITDA	-5,212	-4,079	-284.75	245.61	-579.43
EBITDA Margin	-15.52%	-16.16%	-1.41%	1.78%	-5.87%
D&A For EBITDA	784.81	493.63	486.96	324.81	304.07
EBIT	-5,997	-4,573	-771.71	-79.2	-883.5
EBIT Margin	-17.86%	-18.11%	-3.82%	-0.57%	-8.95%
Effective Tax Rate	-	18.20%	21.58%	3.91%	6.60%

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.