LASACO Assurance Cash Flow 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	Mar '26 Mar 31, 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
Net Income	-2,013	-3,072	1,540	1,318	1,518	261.38
Depreciation & Amortization	784.81	784.81	493.63	486.96	324.81	304.07
Other Amortization	-	-	59.97	32.89	0.02	0.5
Gain (Loss) on Sale of Assets	-	-	-15.3	-11.79	7.23	-7.57
Gain (Loss) on Sale of Investments	-	-	-57.33	-107.01	10.42	-47.96
Change in Accounts Receivable	-	-	-411.92	-35.6	-225.09	20.99
Reinsurance Recoverable	-	-	-1,185	-427.79	1,087	290.59
Change in Accounts Payable	-	-	1,072	-1,086	1,637	-71.98
Change in Insurance Reserves / Liabilities	-	-	4,085	1,634	-1,418	-118.42
Change in Other Net Operating Assets	-	-	184.06	-766.91	516.72	380.23
Other Operating Activities	-7,543	-11,062	-5,263	-3,197	-2,982	-897.92
Operating Cash Flow	-8,772	-13,350	-2,631	-2,287	-232.51	-216.62
Capital Expenditures	-1,592	-1,291	-811.9	-134.96	-1,047	-302.51
Sale of Property, Plant & Equipment	289.24	289.24	81.81	11.79	8.79	24.54
Purchase / Sale of Intangible Assets	-	-	-293.39	-4.21	-106.27	-
Cash Acquisitions	-	-	-	-	-638.31	-
Investment in Securities	2,037	3,735	2,988	-840.72	874.77	1,277
Other Investing Activities	3,074	3,309	2,247	538	395.27	332.5
Investing Cash Flow	3,770	6,126	3,946	-470.61	-605.9	1,326
Issuance of Common Stock	-	10,823	-	-	-	3,100
Common Dividends Paid	-	-	-	-275.04	-	-183.36
Financing Cash Flow	-	10,823	-	-275.04	-	2,917
Foreign Exchange Rate Adjustments	-61.83	-	315.93	2,370	831.59	-
Net Cash Flow	-5,063	3,599	1,631	-662.23	-6.82	4,026
Free Cash Flow	-10,363	-14,641	-3,443	-2,422	-1,280	-519.13
Free Cash Flow Margin	-32.00%	-43.60%	-13.64%	-11.98%	-9.26%	-5.26%
Free Cash Flow Per Share	-0.94	-1.32	-1.88	-1.32	-0.70	-0.28
Cash Income Tax Paid	328.15	328.15	94.91	83.06	36.86	156.83
Levered Free Cash Flow	-8,979	4,381	-1,853	-2,408	-5,280	-180.02
Unlevered Free Cash Flow	-8,979	4,381	-1,853	-2,405	-5,279	-168.81
Change in Working Capital	-	-	3,744	-682	1,597	565.81

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