Coronation 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	71,127	49,474	24,566	11,120	8,751
Total Interest & Dividend Income	4,146	2,774	1,959	1,096	1,644
Gain (Loss) on Sale of Investments	1,296	-1,378	-866.12	-1,057	134.73
Other Revenue	-15,215	-	-	-	915.49
Total Revenue	61,354	50,871	25,659	11,158	11,446
Revenue Growth (YoY)	20.61%	98.26%	129.95%	-2.51%	9.65%
Policy Benefits	44,998	43,987	24,479	11,519	5,708
Policy Acquisition & Underwriting Costs	-	-	-	-	2,710
Amortization of Goodwill & Intangibles	-	-	-	-	182.76
Depreciation & Amortization	-	-	-	-	431.95
Selling, General & Administrative	-	-	-	-	2,982
Provision for Bad Debts	-	-	-	-	39.26
Other Operating Expenses	7,250	5,530	568.5	933.78	579.87
Total Operating Expenses	52,247	49,517	25,048	12,453	14,148
Operating Income	9,107	1,354	611.17	-1,294	-2,702
Interest Expense	-	-	-	-	-54.95
Earnings From Equity Investments	557.67	3,041	675.96	-2,235	501.43
Currency Exchange Gain (Loss)	-	8,002	2,071	1,714	634.82
Other Non Operating Income (Expenses)	-	311.76	-75.82	-	-261.84
EBT Excluding Unusual Items	9,665	12,710	3,282	-1,816	-1,883
Gain (Loss) on Sale of Assets	-	-	-	-	18.2
Asset Writedown	-	-	-	-	-247.71
Other Unusual Items	-	1,102	-1,065	-	-
Pretax Income	9,665	13,811	2,217	-1,816	-2,112
Income Tax Expense	2,548	1,900	398.11	151.96	470.39
Net Income	7,116	11,911	1,819	-1,968	-2,583
Net Income to Common	7,116	11,911	1,819	-1,968	-2,583
Net Income Growth	-40.25%	554.81%	-	-	-
Shares Outstanding (Basic)	23,992	23,921	23,921	23,921	23,921
Shares Outstanding (Diluted)	23,992	23,921	23,921	23,921	23,921
Shares Change (YoY)	0.30%	-	-	-	-
EPS (Basic)	0.30	0.50	0.08	-0.08	-0.11
EPS (Diluted)	0.30	0.50	0.08	-0.08	-0.11
EPS Growth	-40.43%	554.81%	-	-	-
Free Cash Flow	4,019	20,356	8,132	-1,318	-1,831
Free Cash Flow Per Share	0.17	0.85	0.34	-0.06	-0.08
Operating Margin	14.84%	2.66%	2.38%	-11.60%	-23.61%
Profit Margin	11.60%	23.41%	7.09%	-17.63%	-22.56%
Free Cash Flow Margin	6.55%	40.02%	31.69%	-11.81%	-15.99%
EBITDA	10,069	2,614	1,054	-1,001	-2,273
EBITDA Margin	16.41%	5.14%	4.11%	-8.97%	-19.86%
D&A For EBITDA	962.2	1,260	443.32	293.89	429.17
EBIT	9,107	1,354	611.17	-1,294	-2,702
EBIT Margin	14.84%	2.66%	2.38%	-11.60%	-23.61%
Effective Tax Rate	26.37%	13.76%	17.96%	-	-

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