Linkage 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	18,043	13,616	8,369	8,139	5,429
Total Interest & Dividend Income	7,308	5,956	5,360	1,729	2,293
Gain (Loss) on Sale of Investments	1,419	695.9	787.08	514.17	-1,268
Other Revenue	8.8	3.5	6.5	3,322	840.43
Total Revenue	26,778	20,271	14,522	13,704	7,294
Revenue Growth (YoY)	32.10%	39.59%	5.97%	87.89%	-18.43%
Policy Benefits	5,902	12,849	8,107	9,340	5,033
Policy Acquisition & Underwriting Costs	9,637	-	-	-	3,054
Amortization of Goodwill & Intangibles	-	8.76	6.28	7.43	44.89
Depreciation & Amortization	497.15	474.69	265.56	222.8	153.1
Selling, General & Administrative	3,409	2,864	1,924	1,520	1,748
Other Operating Expenses	1,364	307.44	168.53	122.92	427.36
Total Operating Expenses	21,622	17,705	11,637	12,151	11,429
Operating Income	5,156	2,567	2,886	1,553	-4,135
Currency Exchange Gain (Loss)	-744.75	2,604	2,233	300.28	296.69
Other Non Operating Income (Expenses)	-29.62	-60.49	285.06	-8.59	-47.73
EBT Excluding Unusual Items	4,381	5,111	5,403	1,845	-3,886
Gain (Loss) on Sale of Assets	14.16	55.64	26.19	28.95	0.04
Asset Writedown	-	120	41.59	1.31	7.5
Other Unusual Items	-79.52	-4.32	-7.47	-	-
Pretax Income	4,316	5,282	5,464	1,875	-3,879
Income Tax Expense	296.98	-269.55	182.15	129.29	111.72
Net Income	4,019	5,552	5,282	1,746	-3,991
Net Income to Common	4,019	5,552	5,282	1,746	-3,991
Net Income Growth	-27.61%	5.11%	202.55%	-	-
Shares Outstanding (Basic)	18,480	18,480	18,480	18,480	18,480
Shares Outstanding (Diluted)	18,480	18,480	18,480	18,480	18,480
EPS (Basic)	0.22	0.30	0.29	0.09	-0.22
EPS (Diluted)	0.22	0.30	0.29	0.09	-0.22
EPS Growth	-27.61%	5.11%	202.55%	-	-
Free Cash Flow	-1,410	-2,146	-393.22	-1,573	-1,488
Free Cash Flow Per Share	-0.08	-0.12	-0.02	-0.09	-0.08
Dividend Per Share	-	-	0.038	-	-
Operating Margin	19.25%	12.66%	19.87%	11.33%	-56.70%
Profit Margin	15.01%	27.39%	36.37%	12.74%	-54.71%
Free Cash Flow Margin	-5.27%	-10.59%	-2.71%	-11.48%	-20.40%
EBITDA	5,638	3,042	3,149	1,776	-3,944
EBITDA Margin	21.05%	15.01%	21.69%	12.96%	-54.07%
D&A For EBITDA	482.37	475.72	263.6	222.89	191.68
EBIT	5,156	2,567	2,886	1,553	-4,135
EBIT Margin	19.25%	12.66%	19.87%	11.33%	-56.70%
Effective Tax Rate	6.88%	-	3.33%	6.90%	-

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