STACO Insurance Cash Flow Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2019	FY 2018	FY 2017	FY 2016	FY 2015
Period Ending	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016	Dec '15 Dec 31, 2015
Net Income	29.62	-6,691	-2,659	-2,629	52.14
Depreciation & Amortization	21.98	57.16	290.09	296.8	241.47
Other Amortization	-	-	20.88	17.81	18.21
Gain (Loss) on Sale of Assets	-	-	-0.48	-2.58	-0.99
Gain (Loss) on Sale of Investments	-	-	102.45	56.89	-25.3
Change in Accounts Receivable	-	-	-174.83	-224.6	13.92
Reinsurance Recoverable	-	-	79.82	6.8	172.7
Change in Accounts Payable	-	-	91.02	-80.48	89.98
Change in Income Taxes	-	-	21.89	19.98	8.25
Change in Deferred Taxes	-	-	-11.66	7.12	17.59
Change in Insurance Reserves / Liabilities	-	-	196.28	149.06	163.9
Change in Other Net Operating Assets	-	-	1,574	709.17	21.64
Other Operating Activities	-412.44	5,747	-224.84	-65.99	-254.41
Operating Cash Flow	-360.84	-886.6	-605.68	-1,727	486.74
Capital Expenditures	-1.61	-42.79	-107.03	-175.18	-407.94
Sale of Property, Plant & Equipment	103.92	-	0.48	12.29	5.1
Purchase / Sale of Intangible Assets	-	-	-11.07	-2.36	-55.76
Investment in Securities	111.23	-41.81	-24.39	-352.59	-
Other Investing Activities	87.32	113.75	229.18	146.55	306.15
Investing Cash Flow	300.86	29.15	87.17	-371.29	-152.45
Total Debt Repaid	-151.03	-152.5	-40.95	-24.24	-154.39
Net Debt Issued (Repaid)	-151.03	-152.5	-40.95	-24.24	-154.39
Issuance of Common Stock	-	-	-	125	-
Financing Cash Flow	-151.03	-152.5	-40.95	100.77	-154.39
Net Cash Flow	-211.01	-1,010	-559.45	-1,997	179.9
Free Cash Flow	-362.45	-929.39	-712.71	-1,902	78.8
Free Cash Flow Margin	-12.82%	-23.96%	-13.13%	-47.06%	1.50%
Free Cash Flow Per Share	-0.04	-10.28	-0.08	-0.20	0.01
Cash Income Tax Paid	-	-	83.66	119.73	60.03
Levered Free Cash Flow	41.29	4,072	-889.64	-5,422	43.44
Unlevered Free Cash Flow	117.01	4,584	-678.11	-5,150	234.26
Change in Working Capital	-	-	1,866	586.46	442.99

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