Prestige Assurance Plc (NGX: PRESTIGE)

Prestige Assurance Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	17,754	13,547	11,505	4,594	3,471	2,963
Total Interest & Dividend Income	1,869	1,270	1,098	827.95	622.55	702.86
Gain (Loss) on Sale of Investments	105.23	140.6	-9.7	26.87	51.07	-86.4
Other Revenue	-598.27	-598.27	665.18	989.86	806.65	755.61
Total Revenue	19,130	14,359	13,259	6,438	4,952	4,335
Revenue Growth (YoY)	6.93%	8.30%	105.93%	30.03%	14.22%	14.99%
Policy Benefits	17,870	15,754	14,229	2,363	1,704	1,438
Policy Acquisition & Underwriting Costs	-2,432	-3,424	-2,681	2,419	1,774	1,621
Selling, General & Administrative	789.56	13.31	14.02	1,026	835.58	715.88
Provision for Bad Debts	-103.24	295.29	-3.25	-	-	-
Other Operating Expenses	1,944	1,175	1,218	-11.03	-9.58	146.88
Total Operating Expenses	18,069	13,813	12,776	5,803	4,307	3,902
Operating Income	1,062	545.69	482.41	635.41	644.65	432.84
Interest Expense	-1.88	-1.6	-1.73	-1.28	-5.71	-5.51
Currency Exchange Gain (Loss)	2,419	821.11	-5.56	55.93	84.42	-2.17
Other Non Operating Income (Expenses)	-2.35	-0	-	-0.72	5.32	32.69
EBT Excluding Unusual Items	3,476	1,365	475.12	689.33	728.67	457.84
Gain (Loss) on Sale of Assets	1.19	10.33	14.34	3.42	0.55	6.03
Asset Writedown	28.31	28.31	95.82	39.2	-43.55	45.73
Other Unusual Items	-	-	0.01	-	0.14	-
Pretax Income	3,508	1,404	586.33	732.23	685.91	509.61
Income Tax Expense	201.71	93.39	84.07	43.94	7.6	77.78
Net Income	3,307	1,310	502.26	688.28	678.31	431.83
Net Income to Common	3,307	1,310	502.26	688.28	678.31	431.83
Net Income Growth	-	160.91%	-27.03%	1.47%	57.08%	1.90%
Shares Outstanding (Basic)	13,253	13,253	13,253	13,253	6,935	6,361
Shares Outstanding (Diluted)	13,253	13,253	13,253	13,253	6,935	6,361
Shares Change (YoY)	-0.02%	-	-	91.08%	9.03%	0.21%
EPS (Basic)	0.25	0.10	0.04	0.05	0.10	0.07
EPS (Diluted)	0.25	0.10	0.04	0.05	0.10	0.07
EPS Growth	-	160.92%	-26.98%	-46.93%	44.07%	1.68%
Free Cash Flow	196.44	760.5	-1,160	-534.35	430.76	-628.53
Free Cash Flow Per Share	0.01	0.06	-0.09	-0.04	0.06	-0.10
Dividend Per Share	0.020	0.020	-	0.015	0.025	-
Dividend Growth	-	-	-	-40.00%	-	-
Operating Margin	5.55%	3.80%	3.64%	9.87%	13.02%	9.98%
Profit Margin	17.29%	9.13%	3.79%	10.69%	13.70%	9.96%
Free Cash Flow Margin	1.03%	5.30%	-8.75%	-8.30%	8.70%	-14.50%
EBITDA	1,174	623.74	593.33	737.15	725.86	503.89
EBITDA Margin	6.14%	4.34%	4.47%	11.45%	14.66%	11.62%
D&A For EBITDA	112.81	78.05	110.92	101.74	81.21	71.05
EBIT	1,062	545.69	482.41	635.41	644.65	432.84
EBIT Margin	5.55%	3.80%	3.64%	9.87%	13.02%	9.98%
Effective Tax Rate	5.75%	6.65%	14.34%	6.00%	1.11%	15.26%

Source: S&P Capital IQ. Insurance template. Financial Sources.