The Initiates Plc (NGX:TIP)

The Initiates Balance Sheet

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	35.63	199.66	159.03	658.18	8.64
Cash & Short-Term Investments	35.63	199.66	159.03	658.18	8.64
Cash Growth	-82.16%	25.55%	-75.84%	7516.81%	-35.62%
Accounts Receivable	2,791	485.24	292.03	158.45	118.77
Other Receivables	-	-	0.01	0.01	6.32
Receivables	2,791	490.19	293.88	159.1	126.06
Inventory	26.38	13.58	14.93	6.42	5.12
Prepaid Expenses	32.42	19.89	13.77	23.45	13.98
Other Current Assets	113.27	61.56	66.78	78.08	125.4
Total Current Assets	2,999	784.88	548.4	925.23	279.2
Property, Plant & Equipment	1,942	1,531	1,140	833.86	855.14
Long-Term Investments	105.62	105.26	105.14	6.31	-
Long-Term Deferred Charges	8.47	7.74	11.61	-	-
Other Long-Term Assets	152.17	130.76	284.67	29.05	10
Total Assets	5,207	2,560	2,090	1,794	1,144
Accounts Payable	844.72	258.8	401.82	36	28.95
Accrued Expenses	780.29	124.96	101.99	97.4	61.59
Short-Term Debt	193.99	269.82	-	-	17
Current Income Taxes Payable	459.91	16.69	7.55	0.83	61.11
Current Unearned Revenue	-	-	35.49	63.32	-
Other Current Liabilities	64.09	39.15	47.79	7.24	22.96
Total Current Liabilities	2,343	709.42	594.63	204.8	191.62
Long-Term Debt	350	550	700	700	-
Long-Term Deferred Tax Liabilities	122.13	122.13	82.52	123.08	108.91
Total Liabilities	2,815	1,382	1,377	1,028	300.53
Common Stock	444.99	444.99	444.99	444.99	444.99
Additional Paid-In Capital	17.78	17.78	17.78	17.78	17.78
Retained Earnings	1,625	411.98	-53.38	0.32	77.56
Comprehensive Income & Other	303.47	303.47	303.47	303.47	303.47
Shareholders' Equity	2,392	1,178	712.86	766.57	843.81
Total Liabilities & Equity	5,207	2,560	2,090	1,794	1,144
Total Debt	543.99	819.82	700	700	17
Net Cash (Debt)	-508.37	-620.15	-540.97	-41.82	-8.36
Net Cash Per Share	-0.57	-0.70	-0.61	-0.05	-0.01
Filing Date Shares Outstanding	889.98	889.98	889.98	889.98	889.98
Total Common Shares Outstanding	889.98	889.98	889.98	889.98	889.98
Working Capital	655.87	75.46	-46.24	720.43	87.59
Book Value Per Share	2.69	1.32	0.80	0.86	0.95
Tangible Book Value	2,392	1,178	712.86	766.57	843.81
Tangible Book Value Per Share	2.69	1.32	0.80	0.86	0.95
Land	71.73	71.17	65.5	43.6	43.6
Buildings	386.13	174.94	174.94	174.7	174.7
Machinery	1,757	802.36	765.56	750.03	727.04
Construction In Progress	-	705.12	309.4	-	-

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