The Initiates Plc (NGX: TIP)

The Initiates Balance Sheet

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
Cash & Equivalents	107.19	199.66	159.03	658.18	8.64	13.42
Cash & Short-Term Investments	107.19	199.66	159.03	658.18	8.64	13.42
Cash Growth	140.92%	25.55%	-75.84%	7516.82%	-35.62%	-83.02%
Accounts Receivable	1,457	485.24	292.03	158.45	118.77	135.47
Other Receivables	76.31	-	0.01	0.01	6.32	6.09
Receivables	1,536	490.19	293.88	159.1	126.06	142.48
Inventory	17.3	13.58	14.93	6.42	5.12	8.06
Prepaid Expenses	31.84	19.89	13.77	23.45	13.98	4.26
Other Current Assets	0	61.56	66.78	78.08	125.4	116.86
Total Current Assets	1,693	784.88	548.4	925.23	279.2	285.09
Property, Plant & Equipment	1,932	1,531	1,140	833.86	855.14	864.21
Long-Term Investments	105.62	105.26	105.14	6.31	-	-
Long-Term Deferred Charges	3.87	7.74	11.61	-	-	-
Other Long-Term Assets	34.47	130.76	284.67	29.05	10	-
Total Assets	3,769	2,560	2,090	1,794	1,144	1,149
Accounts Payable	523.12	258.8	401.82	36	28.95	34.09
Accrued Expenses	664.28	124.96	101.99	97.4	61.59	47.15
Short-Term Debt	182.83	269.82	-	-	17	-
Current Income Taxes Payable	220.76	16.69	7.55	0.83	61.11	17.6
Current Unearned Revenue	-	-	35.49	63.32	-	-
Other Current Liabilities	53.41	39.15	47.79	7.24	22.96	30.64
Total Current Liabilities	1,644	709.42	594.63	204.8	191.62	129.48
Long-Term Debt	400	550	700	700	-	-
Long-Term Deferred Tax Liabilities	122.13	122.13	82.52	123.08	108.91	92.19
Total Liabilities	2,167	1,382	1,377	1,028	300.53	221.67
Common Stock	444.99	444.99	444.99	444.99	444.99	444.99
Additional Paid-In Capital	17.78	17.78	17.78	17.78	17.78	17.78
Retained Earnings	835.85	411.98	-53.38	0.32	77.56	161.39
Comprehensive Income & Other	303.47	303.47	303.47	303.47	303.47	303.47
Shareholders' Equity	1,602	1,178	712.86	766.57	843.81	927.63
Total Liabilities & Equity	3,769	2,560	2,090	1,794	1,144	1,149
Total Debt	582.83	819.82	700	700	17	-
Net Cash (Debt)	-475.65	-620.15	-540.97	-41.82	-8.36	13.42
Net Cash Per Share	-0.53	-0.70	-0.61	-0.05	-0.01	0.02
Filing Date Shares Outstanding	889.98	889.98	889.98	889.98	889.98	889.98
Total Common Shares Outstanding	889.98	889.98	889.98	889.98	889.98	889.98
Working Capital	48.18	75.46	-46.24	720.43	87.59	155.61
Book Value Per Share	1.80	1.32	0.80	0.86	0.95	1.04
Tangible Book Value	1,602	1,178	712.86	766.57	843.81	927.63
Tangible Book Value Per Share	1.80	1.32	0.80	0.86	0.95	1.04
Land	71.73	71.17	65.5	43.6	43.6	43.6
Buildings	385.53	174.94	174.94	174.7	174.7	174.1
Machinery	911.75	802.36	765.56	750.03	727.04	694
Construction In Progress	827.2	705.12	309.4	-	-	-

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