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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	16,127	13,547	11,505	4,594	3,471	2,963
Total Interest & Dividend Income	1,645	1,270	1,098	827.95	622.55	702.86
Gain (Loss) on Sale of Investments	50.44	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	17,224	14,359	13,259	6,438	4,952	4,335
Revenue Growth (YoY)	6.45%	8.30%	105.93%	30.03%	14.22%	14.99%
Policy Benefits	15,980	15,754	14,229	2,363	1,704	1,438
Policy Acquisition & Underwriting Costs	-2,771	-3,424	-2,681	2,419	1,774	1,621
Selling, General & Administrative	273.77	13.31	14.02	1,026	835.58	715.88
Provision for Bad Debts	39.72	295.29	-3.25	-	-	-
Other Operating Expenses	2,360	1,175	1,218	-11.03	-9.58	146.88
Total Operating Expenses	15,882	13,813	12,776	5,803	4,307	3,902
Operating Income	1,342	545.69	482.41	635.41	644.65	432.84
Interest Expense	-1.87	-1.6	-1.73	-1.28	-5.71	-5.51
Currency Exchange Gain (Loss)	2,431	821.11	-5.56	55.93	84.42	-2.17
Other Non Operating Income (Expenses)	-1.89	-0	-	-0.72	5.32	32.69
EBT Excluding Unusual Items	3,770	1,365	475.12	689.33	728.67	457.84
Gain (Loss) on Sale of Assets	2.78	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	3,803	1,404	586.33	732.23	685.91	509.61
Income Tax Expense	265.55	93.39	84.07	43.94	7.6	77.78
Net Income	3,538	1,310	502.26	688.28	678.31	431.83
Net Income to Common	3,538	1,310	502.26	688.28	678.31	431.83
Net Income Growth	1328.78%	160.91%	-27.03%	1.47%	57.08%	1.90%
Shares Outstanding (Basic)	13,246	13,253	13,253	13,253	6,935	6,361
Shares Outstanding (Diluted)	13,246	13,253	13,253	13,253	6,935	6,361
Shares Change (YoY)	-0.14%	-	-	91.08%	9.03%	0.21%
EPS (Basic)	0.27	0.10	0.04	0.05	0.10	0.07
EPS (Diluted)	0.27	0.10	0.04	0.05	0.10	0.07
EPS Growth	1330.75%	160.92%	-26.98%	-46.93%	44.07%	1.68%
Free Cash Flow	1,630	760.5	-1,160	-534.35	430.76	-628.53
Free Cash Flow Per Share	0.12	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	7.79%	3.80%	3.64%	9.87%	13.02%	9.98%
Profit Margin	20.54%	9.13%	3.79%	10.69%	13.70%	9.96%
Free Cash Flow Margin	9.47%	5.30%	-8.75%	-8.30%	8.70%	-14.50%
EBITDA	1,418	623.74	593.33	737.15	725.86	503.89
EBITDA Margin	8.23%	4.34%	4.47%	11.45%	14.66%	11.62%
D&A For EBITDA	76.33	78.05	110.92	101.74	81.21	71.05
EBIT	1,342	545.69	482.41	635.41	644.65	432.84
EBIT Margin	7.79%	3.80%	3.64%	9.87%	13.02%	9.98%
Effective Tax Rate	6.98%	6.65%	14.34%	6.00%	1.11%	15.26%

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