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	17,785	13,616	8,369	8,139	5,429
Total Interest & Dividend Income	5,167	5,956	5,360	1,729	2,293
Gain (Loss) on Sale of Investments	1,363	695.9	787.08	514.17	-1,268
Other Revenue	8.8	3.5	6.5	3,322	840.43
Total Revenue	24,323	20,271	14,522	13,704	7,294
Revenue Growth (YoY)	19.99%	39.59%	5.97%	87.89%	-18.43%
Policy Benefits	21,263	21,126	8,107	9,340	5,033
Policy Acquisition & Underwriting Costs	-9,665	-8,023	-	-	3,054
Amortization of Goodwill & Intangibles	8.84	8.76	6.28	7.43	44.89
Depreciation & Amortization	488.3	474.69	265.56	222.8	153.1
Selling, General & Administrative	3,434	2,864	1,924	1,520	1,748
Other Operating Expenses	3,056	53.58	168.53	122.92	427.36
Total Operating Expenses	19,409	17,705	11,637	12,151	11,429
Operating Income	4,915	2,567	2,886	1,553	-4,135
Currency Exchange Gain (Loss)	-778.53	2,604	2,233	300.28	296.69
Other Non Operating Income (Expenses)	-38.43	-60.49	285.06	-8.59	-47.73
EBT Excluding Unusual Items	4,098	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	4,032	5,282	5,464	1,875	-3,879
Income Tax Expense	906.31	-269.55	182.15	129.29	111.72
Net Income	3,126	5,552	5,282	1,746	-3,991
Net Income to Common	3,126	5,552	5,282	1,746	-3,991
Net Income Growth	-43.69%	5.11%	202.55%	-	-
Shares Outstanding (Basic)	18,389	18,505	18,480	18,480	18,480
Shares Outstanding (Diluted)	18,389	18,505	18,480	18,480	18,480
Shares Change (YoY)	-0.63%	0.14%	-	-	-
EPS (Basic)	0.17	0.30	0.29	0.09	-0.22
EPS (Diluted)	0.17	0.30	0.29	0.09	-0.22
EPS Growth	-43.33%	4.97%	202.55%	-	-
Free Cash Flow	-2,767	-2,146	-393.22	-1,573	-1,488
Free Cash Flow Per Share	-0.15	-0.12	-0.02	-0.09	-0.08
Dividend Per Share	-	-	0.038	-	-
Operating Margin	20.21%	12.66%	19.87%	11.33%	-56.70%
Profit Margin	12.85%	27.39%	36.37%	12.74%	-54.71%
Free Cash Flow Margin	-11.38%	-10.59%	-2.71%	-11.48%	-20.40%
EBITDA	5,397	3,042	3,149	1,776	-3,944
EBITDA Margin	22.19%	15.01%	21.69%	12.96%	-54.07%
D&A For EBITDA	482.37	475.72	263.6	222.89	191.68
EBIT	4,915	2,567	2,886	1,553	-4,135
EBIT Margin	20.21%	12.66%	19.87%	11.33%	-56.70%
Effective Tax Rate	22.48%	-	3.33%	6.90%	-

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