Fortis Global Insurance Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	394.63	413.64	418.06	523.85	429.08
Total Interest & Dividend Income	527.57	144.38	-81.22	-184.18	13.29
Gain (Loss) on Sale of Investments	-	-	61.91	3.07	-31.8
Other Revenue	80.54	-	-	-	3.06
Total Revenue	1,003	558.02	398.75	342.74	413.63
Revenue Growth (YoY)	79.70%	39.94%	16.34%	-17.14%	-56.75%
Policy Benefits	552.5	347.59	323.53	676.26	881.07
Policy Acquisition & Underwriting Costs	100.38	-	-	-	26.16
Depreciation & Amortization	-	-	11.42	15.03	28.86
Selling, General & Administrative	668.81	103.86	6.94	343.84	500.41
Other Operating Expenses	-	-	-	-0	15.22
Total Operating Expenses	1,322	451.45	341.89	1,186	1,802
Operating Income	-318.95	106.57	56.86	-842.9	-1,388
Interest Expense	-1,385	-251.57	-112.62	-76.69	-135.92
Currency Exchange Gain (Loss)	-382.68	-2,175	-1,753	94.47	-213.5
Other Non Operating Income (Expenses)	394.63	-326.86	-0.02	-0.58	-2.66
EBT Excluding Unusual Items	-1,692	-2,646	-1,808	-825.69	-1,741
Gain (Loss) on Sale of Assets	4.49	-	-	-	14.14
Asset Writedown	-	7,640	-	-	-
Other Unusual Items	-	-	-	-4.03	-
Pretax Income	-1,688	4,994	-1,808	-829.72	-1,726
Income Tax Expense	-	3.12	7.51	0	-1.92
Earnings From Continuing Ops.	-1,688	4,990	-1,816	-829.72	-1,725
Net Income	-1,688	4,990	-1,816	-829.72	-1,725
Net Income to Common	-1,688	4,990	-1,816	-829.72	-1,725
Shares Outstanding (Basic)	12,911	12,911	12,911	12,911	12,911
Shares Outstanding (Diluted)	12,911	12,911	12,911	12,911	12,911
EPS (Basic)	-0.13	0.39	-0.14	-0.06	-0.13
EPS (Diluted)	-0.13	0.39	-0.14	-0.06	-0.13
Free Cash Flow	-406.95	-71.56	-6.79	-1,174	231.44
Free Cash Flow Per Share	-0.03	-0.01	-0.00	-0.09	0.02
Operating Margin	-31.81%	19.10%	14.26%	-245.93%	-335.68%
Profit Margin	-168.32%	894.31%	-455.37%	-242.09%	-416.92%
Free Cash Flow Margin	-40.58%	-12.82%	-1.70%	-342.52%	55.95%
EBITDA	-266.8	118.77	68.28	-827.87	-1,360
EBITDA Margin	-26.61%	21.28%	17.12%	-241.55%	-
D&A For EBITDA	52.15	12.19	11.42	15.03	28.86
EBIT	-318.95	106.57	56.86	-842.9	-1,388
EBIT Margin	-31.81%	19.10%	14.26%	-245.93%	-
Effective Tax Rate	-	0.06%	-	-	-

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