NEM Insurance Plc (NGX:NEM)

NEM Insurance 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	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	97,650	67,870	36,263	23,712	19,306	15,863
Total Interest & Dividend Income	11,855	7,598	3,182	1,467	1,135	1,004
Gain (Loss) on Sale of Investments	8,052	385.5	4,281	69.49	307.02	1,054
Other Revenue	373.74	396.81	131.42	188.68	1,540	1,212
Total Revenue	117,938	76,250	43,858	25,437	22,288	19,134
Revenue Growth (YoY)	73.34%	73.86%	72.42%	14.13%	16.49%	28.30%
Policy Benefits	42,357	20,174	12,008	7,597	5,561	6,054
Policy Acquisition & Underwriting Costs	39,909	30,915	18,990	9,856	7,580	4,420
Selling, General & Administrative	9,843	8,523	5,279	3,725	4,198	3,221
Provision for Bad Debts	-	-	-	18.93	-	-
Other Operating Expenses	-2,259	-2,139	55.79	-892.56	651.69	569.1
Total Operating Expenses	89,850	57,473	36,333	20,304	17,991	14,264
Operating Income	28,089	18,777	7,525	5,133	4,297	4,870
Interest Expense	-172.47	-199.98	-362.81	-	-3.74	-
Earnings From Equity Investments	-	-	-	-	-	-22.42
Currency Exchange Gain (Loss)	13,521	14,804	11,389	297.15	183.31	210.83
Other Non Operating Income (Expenses)	-218.08	-218.07	-19.08	-	-	76
EBT Excluding Unusual Items	41,220	33,163	18,532	5,430	4,477	5,134
Gain (Loss) on Sale of Investments	-832.36	-832.36	-194.24	-	-	-
Gain (Loss) on Sale of Assets	-8.73	-8.73	13.66	-36.43	-12.1	-16.83
Asset Writedown	1,377	1,377	526.78	104.6	73.42	24.71
Other Unusual Items	-	-	-	-	-10	-12.19
Pretax Income	41,755	33,699	18,878	5,498	4,528	5,130
Income Tax Expense	5,562	4,458	5,929	96.67	95.92	45.16
Earnings From Continuing Ops.	36,193	29,241	12,949	5,401	4,432	5,085
Minority Interest in Earnings	-26.19	-26.19	72.07	-	-	-
Net Income	36,167	29,214	13,021	5,401	4,432	5,085
Net Income to Common	36,167	29,214	13,021	5,401	4,432	5,085
Net Income Growth	69.23%	124.37%	141.06%	21.87%	-12.83%	112.27%
Shares Outstanding (Basic)	5,016	5,016	5,016	5,016	5,016	5,016
Shares Outstanding (Diluted)	5,016	5,016	5,016	5,016	5,016	5,016
EPS (Basic)	7.21	5.82	2.60	1.08	0.88	1.01
EPS (Diluted)	7.21	5.82	2.60	1.08	0.88	1.01
EPS Growth	69.15%	124.22%	141.06%	22.36%	-12.91%	113.32%
Free Cash Flow	15,987	22,275	10,971	5,079	3,018	3,964
Free Cash Flow Per Share	3.19	4.44	2.19	1.01	0.60	0.79
Dividend Per Share	1.000	1.000	0.600	0.300	0.220	0.180
Dividend Growth	66.67%	66.67%	100.00%	36.36%	22.22%	-
Operating Margin	23.82%	24.63%	17.16%	20.18%	19.28%	25.45%
Profit Margin	30.67%	38.31%	29.69%	21.23%	19.89%	26.57%
Free Cash Flow Margin	13.55%	29.21%	25.02%	19.97%	13.54%	20.72%
EBITDA	28,511	19,143	7,823	5,377	4,539	5,115
EBITDA Margin	24.18%	25.11%	17.84%	21.14%	20.37%	26.73%
D&A For EBITDA	422.49	365.67	298.26	243.79	242.08	244.82
EBIT	28,089	18,777	7,525	5,133	4,297	4,870
EBIT Margin	23.82%	24.63%	17.16%	20.18%	19.28%	25.45%
Effective Tax Rate	13.32%	13.23%	31.41%	1.76%	2.12%	0.88%

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