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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash & Equivalents	31.25	199.66	159.03	658.18	8.64	13.42
Cash & Short-Term Investments	31.25	199.66	159.03	658.18	8.64	13.42
Cash Growth	-34.71%	25.55%	-75.84%	7516.82%	-35.62%	-83.02%
Accounts Receivable	854.51	485.24	292.03	158.45	118.77	135.47
Other Receivables	0.01	-	0.01	0.01	6.32	6.09
Receivables	855.99	490.19	293.88	159.1	126.06	142.48
Inventory	26.37	13.58	14.93	6.42	5.12	8.06
Prepaid Expenses	35.07	19.89	13.77	23.45	13.98	4.26
Other Current Assets	82.46	61.56	66.78	78.08	125.4	116.86
Total Current Assets	1,031	784.88	548.4	925.23	279.2	285.09
Property, Plant & Equipment	1,885	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	6.05	7.74	11.61	-	-	-
Other Long-Term Assets	28.97	130.76	284.67	29.05	10	-
Total Assets	3,056	2,560	2,090	1,794	1,144	1,149
Accounts Payable	430.18	258.8	401.82	36	28.95	34.09
Accrued Expenses	340.5	124.96	101.99	97.4	61.59	47.15
Short-Term Debt	62.06	269.82	-	-	17	-
Current Income Taxes Payable	76.28	16.69	7.55	0.83	61.11	17.6
Current Unearned Revenue	-	-	35.49	63.32	-	-
Other Current Liabilities	45.93	39.15	47.79	7.24	22.96	30.64
Total Current Liabilities	954.95	709.42	594.63	204.8	191.62	129.48
Long-Term Debt	500	550	700	700	-	-
Long-Term Deferred Tax Liabilities	122.13	122.13	82.52	123.08	108.91	92.19
Total Liabilities	1,577	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	713.1	411.98	-53.38	0.32	77.56	161.39
Comprensive Income & Other	303.47	303.47	303.47	303.47	303.47	303.47
Shareholders' Equity	1,479	1,178	712.86	766.57	843.81	927.63
Total Liabilities & Equity	3,056	2,560	2,090	1,794	1,144	1,149
Total Debt	562.06	819.82	700	700	17	-
Net Cash (Debt)	-530.81	-620.15	-540.97	-41.82	-8.36	13.42
Net Cash Per Share	-0.60	-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	76.19	75.46	-46.24	720.43	87.59	155.61
Book Value Per Share	1.66	1.32	0.80	0.86	0.95	1.04
Tangible Book Value	1,479	1,178	712.86	766.57	843.81	927.63
Tangible Book Value Per Share	1.66	1.32	0.80	0.86	0.95	1.04
Land	71.73	71.17	65.5	43.6	43.6	43.6
Buildings	352.37	174.94	174.94	174.7	174.7	174.1
Machinery	885.05	802.36	765.56	750.03	727.04	694
Construction In Progress	823.06	705.12	309.4	-	-	-

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