Mutual Benefits Assurance Plc (NGX:MBENEFIT)

Verve Therapeutics Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	73,660	66,916	39,922	31,005	22,455	16,079
Total Interest & Dividend Income	12,550	10,878	8,345	5,417	3,237	3,048
Gain (Loss) on Sale of Investments	1,242	1,166	-984.08	-503.12	-5,610	3,363
Other Revenue	194.97	163.61	130.59	94.88	903.77	768.25
Total Revenue	87,647	79,124	47,413	36,014	20,986	23,258
Revenue Growth (YoY)	79.98%	66.88%	31.65%	71.61%	-9.77%	12.80%
Policy Benefits	69,167	65,846	34,999	27,269	11,703	8,193
Policy Acquisition & Underwriting Costs	2,111	-	-	-	7,064	4,932
Selling, General & Administrative	1,012	916.41	493.22	76.68	4,140	3,959
Provision for Bad Debts	-	-	-	-	24.38	43.89
Other Operating Expenses	260.14	1,863	2,380	2,317	-159.71	5.88
Total Operating Expenses	74,145	69,901	38,479	30,298	24,367	19,498
Operating Income	13,502	9,223	8,935	5,716	-3,381	3,760
Interest Expense	-2,463	-2,466	-5,254	-4,485	-1,570	-22.82
Currency Exchange Gain (Loss)	1,146	5,256	2,565	380.55	-594.94	212.24
Other Non Operating Income (Expenses)	-0.33	-0.31	-0.29	-0.29	-200.98	-421.51
EBT Excluding Unusual Items	12,185	12,013	6,246	1,611	-5,746	3,528
Gain (Loss) on Sale of Assets	21.32	25.76	35.47	3.19	145.32	8.15
Asset Writedown	-	-	-	-	10.77	-70
Other Unusual Items	-	-	-	-	-	1,576
Pretax Income	12,210	12,042	6,282	1,614	-5,590	5,042
Income Tax Expense	380.89	724.32	393.09	680.12	-165.36	-67.18
Earnings From Continuing Ops.	11,829	11,318	5,889	934.32	-5,425	5,109
Net Income to Company	11,829	11,318	5,889	934.32	-5,425	5,109
Minority Interest in Earnings	-705.49	-566.62	-41.15	20.3	-150.66	22.61
Net Income	11,123	10,751	5,847	954.62	-5,575	5,132
Net Income to Common	11,123	10,751	5,847	954.62	-5,575	5,132
Net Income Growth	34.32%	83.86%	512.54%	-	-	40.88%
Shares Outstanding (Basic)	20,061	20,061	20,061	20,061	15,531	11,172
Shares Outstanding (Diluted)	20,061	20,061	20,061	20,061	15,531	11,172
Shares Change (YoY)	-1.89%	-	-	29.17%	39.02%	10.58%
EPS (Basic)	0.55	0.54	0.29	0.05	-0.36	0.46
EPS (Diluted)	0.55	0.54	0.29	0.05	-0.36	0.46
EPS Growth	36.90%	83.86%	512.55%	-	-	27.59%
Free Cash Flow	5,435	8,584	7,211	3,992	1,571	2,118
Free Cash Flow Per Share	0.27	0.43	0.36	0.20	0.10	0.19
Dividend Per Share	0.020	0.020	-	-	-	-
Operating Margin	15.40%	11.66%	18.84%	15.87%	-16.11%	16.17%
Profit Margin	12.69%	13.59%	12.33%	2.65%	-26.57%	22.07%
Free Cash Flow Margin	6.20%	10.85%	15.21%	11.09%	7.48%	9.11%
EBITDA	14,072	9,785	9,238	6,066	-3,057	4,119
EBITDA Margin	16.06%	12.37%	19.48%	16.84%	-14.57%	17.71%
D&A For EBITDA	570.29	561.12	303.28	350.87	323.87	358.97
EBIT	13,502	9,223	8,935	5,716	-3,381	3,760
EBIT Margin	15.40%	11.66%	18.84%	15.87%	-16.11%	16.17%
Effective Tax Rate	3.12%	6.02%	6.26%	42.13%	-	-

Updated Mar 13, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.