Income Statement LASACO Assurance Plc

Stocks

LASACO

NGLASACO0002

Multiline Insurance & Brokers

End-of-day quote Nigerian S.E. 2026-09-04			5-day change	1st Jan Change
1.900 ^NGN	+0.53%		+2.70%	-22.45%

07-17	LASACO Assurance Plc Reports Earnings Results for the Half Year Ended June 30, 2026	CI
04-28	LASACO Assurance Plc Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: LASACO ASSURANCE PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (NGN)	2022 (NGN)	2023 (NGN)	2024 (NGN)	2025 (NGN)
Premiums and Annuity Revenues	8.19B	9.46B	18.29B	22.84B	30.86B
Total Interest And Dividend Income	540M	690M	1.35B	2.24B	3.05B
Gain (Loss) on Sale of Investments, Total (Rev)	47.96M	-10.42M	107M	57.33M	399M
Other Revenues, Total	1.1B	1.13B	458M	116M	190M
Total Revenues	9.88B	11.27B	20.21B	25.25B	34.5B
Policy Benefits	4.07B	3.69B	17.8B	25.7B	33.53B
Policy Acquisition / Underwriting Costs, Total	1.61B	1.75B	-	-	-
Depreciation & Amortization - (IS) - (Collected)	-	-	487M	494M	638M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	32.89M	59.97M	147M
Selling General & Admin Expenses, Total	4.61B	5.74B	1.35B	1.36B	4.35B
Provision For Loan Losses - (Ins. / REIT / Utility Templates)	-4.33M	4.36M	-57K	16K	38K
Salaries And Other Employee Benefits	353M	139M	1.18B	2.23B	1.55B
Other Operating Expenses	111M	121M	130M	-27.58M	224M
Total Operating Expenses	10.76B	11.43B	20.98B	29.82B	40.44B
Operating Income	-884M	-158M	-772M	-4.57B	-5.94B
Interest Expense, Total	-17.94M	-1.89M	-4.32M	-	-
Currency Exchange Gains (Loss)	618M	832M	2.37B	3.29B	495M
Other Non Operating Income (Expenses)	196M	150M	-52.24M	-10.39M	4.23M
EBT, Excl. Unusual Items	-87.3M	821M	1.54B	-1.29B	-5.44B
Gain (Loss) on Sale of Assets	7.56M	-	11.79M	42.9M	338M
Asset Writedown	360M	704M	126M	3.13B	2.49B
EBT, Incl. Unusual Items	280M	1.53B	1.68B	1.88B	-2.61B
Income Tax Expense	18.47M	46.43M	363M	342M	189M
Earnings From Continuing Operations	261M	1.48B	1.32B	1.54B	-2.8B
Net Income to Company	261M	1.48B	1.32B	1.54B	-2.8B
Net Income - (IS)	261M	1.48B	1.32B	1.54B	-2.8B
Net Income to Common Incl Extra Items	261M	1.48B	1.32B	1.54B	-2.8B
Net Income to Common Excl. Extra Items	261M	1.48B	1.32B	1.54B	-2.8B
Per Share Items
Net EPS - Basic	0.14	0.81	0.72	0.84	-0.25
Basic EPS - Continuing Operations	0.14	0.81	0.72	0.84	-0.25
Basic Weighted Average Shares Outstanding	1.83B	1.83B	1.83B	1.83B	11.08B
Net EPS - Diluted	0.14	0.81	0.72	0.84	-0.25
Diluted EPS - Continuing Operations	0.14	0.81	0.72	0.84	-0.25
Diluted Weighted Average Shares Outstanding	1.83B	1.83B	1.83B	1.83B	11.08B
Normalized Basic EPS	-0.03	0.28	0.53	-0.44	-0.31
Normalized Diluted EPS	-0.03	0.28	0.53	-0.44	-0.31
Dividend Per Share	-	0.15	-	-	-
Payout Ratio	70.15	-	20.87	-	-
Supplemental Items
EBITDA	-579M	167M	-285M	-4.08B	-5.3B
EBITA	-884M	-158M	-772M	-4.57B	-5.94B
EBIT	-884M	-158M	-772M	-4.57B	-5.94B
EBITDAR	-556M	192M	-256M	-4.03B	-5.25B
Effective Tax Rate - (Ratio)	6.6	3.04	21.58	18.2	-7.25
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	18.45M	46.35M	63.76M	284M	182M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-	-	217M	-	-
Normalized Net Income	-54.57M	513M	964M	-808M	-3.4B
Non-Cash Pension Expense	114M	0	-	-	-
Supplemental Operating Expense Items
Advertising Expense	106M	50.3M	60.21M	52.78M	97.08M
Marketing Expenses	1.22B	1.68B	-	-	-
Selling and Marketing Expenses	1.33B	1.73B	-	-	-
General and Administrative Expenses	3.13B	3.78B	1.35B	1.36B	4.35B
Net Rental Expense, Total	23.38M	24.82M	29.1M	50.96M	58.13M

Fiscal Period: December	2021 (NGN)	2022 (NGN)	2023 (NGN)	2024 (NGN)	2025 (NGN)
Assets
Investment In Debt Securities	2.85B	3.29B	2.36B	1.52B	905M
Investment In Equity and Preferred Securities, Total	291M	291M	291M	291M	859M
Trading Asset Securities, Total	-	-	398M	388M	357M
Real Estate Owned	3.6B	4.4B	4.57B	8.13B	10.56B
Policy Loans	11.14M	9.05M	12.04M	7.52M	-
Total Other Investments	1.76B	1.31B	3.02B	236M	1.23B
Total investments	8.52B	9.3B	10.66B	10.57B	13.91B
Cash And Equivalents	9.44B	9.41B	8.71B	10.35B	14.82B
Reinsurance Recoverable - (IS)	2.12B	1.69B	2.87B	4.05B	4.41B
Other Receivables - (Insurance Template)	310M	620M	614M	1.91B	1.2B
Deferred Policy Acquisition Costs - (BS)	332M	444M	-	-	-
Gross Property Plant And Equipment	3.46B	4.73B	5.06B	5.88B	6.85B
Accumulated Depreciation	-1.34B	-1.45B	-1.82B	-2.07B	-2.52B
Net Property Plant And Equipment	2.12B	3.28B	3.24B	3.81B	4.32B
Other Intangibles, Total	19K	106M	77.59M	311M	268M
Other Current Assets, Total	575M	713M	267M	224M	165M
Deferred Charges Long-Term	13.52M	-	-	-	-
Other Long-Term Assets, Total	535M	535M	535M	535M	535M
Total Assets	23.96B	26.1B	26.97B	31.75B	39.63B
Liabilities
Accrued Expenses, Total	176M	749M	295M	617M	385M
Insurance And Annuity Liabilities	883M	916M	7.7B	9.99B	12.9B
Unpaid Claims	4.87B	4.19B	2.05B	3.86B	2.36B
Unearned Premiums	3.13B	4.88B	1.03B	1.79B	1.31B
Reinsurance Payable - (BS)	44.95M	215M	159M	447M	389M
Current Income Taxes Payable	253M	278M	340M	588M	296M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	1.73B	1.76B	1.36B	2.07B	679M
Pension & Other Post Retirement Benefits	1.46B	-	-	-	-
Deferred Tax Liability Non-Current	105M	128M	376M	376M	902M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	12.65B	13.11B	13.31B	19.73B	19.22B
Common Stock, Total	917M	917M	917M	917M	5.54B
Additional Paid In Capital	3.69B	3.69B	3.69B	3.69B	9.89B
Retained Earnings	3B	4.19B	4.58B	6.12B	3.59B
Comprehensive Income and Other	3.7B	4.19B	4.47B	1.29B	1.38B
Total Common Equity	11.31B	12.99B	13.66B	12.02B	20.41B
Total Equity	11.31B	12.99B	13.66B	12.02B	20.41B
Total Liabilities And Equity	23.96B	26.1B	26.97B	31.75B	39.63B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.83B	1.83B	1.83B	1.83B	11.08B
ECS Total Common Shares Outstanding	1.83B	1.83B	1.83B	1.83B	11.08B
Book Value / Share	6.17	7.08	7.45	6.55	1.84
Tangible Book Value	11.31B	12.88B	13.58B	11.7B	20.14B
Tangible Book Value Per Share	6.17	7.03	7.41	6.38	1.82
Total Debt	0	0	0	0	0
Net Debt	-9.44B	-9.41B	-8.71B	-10.35B	-14.82B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.46B	-	-	-	-
Debt Equivalent Oper. Leases	187M	199M	233M	408M	465M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	242M	244M	330M	492M	676M
Buildings, Total	1.05B	1.32B	1.53B	1.66B	2.07B
Machinery, Total	2.16B	3.17B	3.2B	3.72B	4.11B
Full Time Employees	159	159	141	138	127

Fiscal Period: December	2021 (NGN)	2022 (NGN)	2023 (NGN)	2024 (NGN)	2025 (NGN)
Net Income	261M	1.48B	1.32B	1.54B	-2.8B
Depreciation, Depletion & Amortization	304M	325M	487M	494M	638M
Total Depreciation, Depletion & Amortization	304M	325M	487M	494M	638M
Amortization of Deferred Charges, Total	500K	19K	32.89M	59.97M	147M
(Gain) Loss On Sale of Asset - (CF)	-7.56M	7.23M	-11.79M	-15.3M	6.22M
(Gain) Loss on Sale of Investments - (CF)	-47.96M	10.42M	-107M	-57.33M	-399M
Total Asset Writedown	-406M	-704M	-126M	-3.13B	-2.49B
Deferred Policy Acquisition Costs - (CF)	64.39M	-113M	-	-	-
Provision for Credit Losses	-	-	57K	-16K	-38K
Provision and Write-off of Bad Debts	11.24M	16.34M	-	-	-
Change in Accounts Receivable	20.99M	-241M	-35.6M	-412M	-242M
Reinsurance Recoverable - (CF)	291M	132M	-428M	-1.18B	-974M
Change in Accounts Payable	-71.98M	1.54B	-1.09B	1.07B	99.56M
Change in insurance Reserves / Liabilities	-118M	-214M	1.63B	4.09B	-8.57M
Change in Other Net Operating Assets (Collected)	380M	639M	-767M	184M	1.75B
Other Operating Activities	-898M	-2.33B	-3.2B	-5.26B	-2.33B
Cash from Operations	-217M	543M	-2.29B	-2.63B	-6.61B
Capital Expenditure	-303M	-1.05B	-135M	-812M	-702M
Sale of Property, Plant, and Equipment	24.54M	8.79M	11.79M	81.81M	66.31M
Cash Acquisitions	-	-638M	-	-	-
Purchase / Sale of Intangible Assets	-	-	-4.21M	-293M	-105M
Sale (Purchase) of Real Estate Properties (Collected)	-5.18M	-92.89M	-40.5M	-265M	116M
Investment in Marketable and Equity Securities, Total	1.28B	862M	-841M	2.99B	-2.65B
Other Investing Activities, Total	333M	341M	538M	2.25B	3.54B
Cash from Investing	1.33B	-566M	-471M	3.95B	262M
Issuance of Common Stock	3.1B	-	-	-	10.82B
Common Dividends Paid	-183M	-	-275M	-	-
Common & Preferred Stock Dividends Paid	-183M	-	-275M	-	-
Cash from Financing	2.92B	-	-275M	-	10.82B
Foreign Exchange Rate Adjustments	-	-	2.37B	316M	-
Net Change in Cash	4.03B	-23.54M	-662M	1.63B	4.47B
Supplemental Items
Cash Income Tax Paid (Refund)	157M	36.86M	83.06M	94.9M	244M
Levered Free Cash Flow	-180M	1.03B	-2.54B	-1.85B	-1.69B
Unlevered Free Cash Flow	-169M	1.04B	-2.54B	-1.85B	-1.69B
Change In Net Working Capital	-381M	-1.86B	2.44B	-1.56B	-2.04B

Fiscal Period: December	2021 (NGN)	2022 (NGN)	2023 (NGN)	2024 (NGN)	2025 (NGN)
Profitability
Return on Assets	-2.48	-0.39	-1.84	-9.73	-10.48
Return on Total Capital	-5.78	-0.81	-3.71	-22.27	-22.73
Return On Equity %	2.74	12.17	10.14	11.99	-17.14
Return on Common Equity	2.74	12.17	10.14	11.99	-17.14
Margin Analysis
Gross Profit Margin %	41.1	49.95	11.95	-1.8	2.79
SG&A Margin	48.92	50.28	12.55	14.23	17.08
EBITDA Margin %	-5.87	1.48	-1.41	-16.16	-15.37
EBITA Margin %	-8.95	-1.4	-3.82	-18.11	-17.22
EBIT Margin %	-8.95	-1.4	-3.82	-18.11	-17.22
Income From Continuing Operations Margin %	2.65	13.12	6.52	6.1	-8.12
Net Income Margin %	2.65	13.12	6.52	6.1	-8.12
Net Avail. For Common Margin %	2.65	13.12	6.52	6.1	-8.12
Normalized Net Income Margin	-0.55	4.55	4.77	-3.2	-9.86
Levered Free Cash Flow Margin	-1.82	9.18	-12.59	-7.34	-4.9
Unlevered Free Cash Flow Margin	-1.71	9.19	-12.57	-7.34	-4.9
Asset Turnover
Asset Turnover	0.44	0.45	0.77	0.86	0.97
Fixed Assets Turnover	4.71	4.18	6.2	7.16	8.59
Receivables Turnover (Average Receivables)	82.24	48.77	58.03	44.6	38.14
Short Term Liquidity
Current Ratio	1.13	0.96	2.43	1.79	3.86
Quick Ratio	0.88	0.77	1.82	1.23	3
Operating Cash Flow to Current Liabilities	-0.02	0.04	-0.44	-0.28	-1.22
Days Sales Outstanding (Average Receivables)	4.44	7.48	6.29	8.21	9.57
Average Days Payable Outstanding	391.29	355.47	47.85	47.45	15.01
Long Term Solvency
Total Liabilities / Total Assets	52.8	50.24	49.36	62.16	48.5
EBIT / Interest Expense	-49.25	-83.76	-178.8	-	-
EBITDA / Interest Expense	-32.3	88.46	-65.98	-	-
(EBITDA - Capex) / Interest Expense	-49.17	-466.82	-97.25	-	-
Net Debt / EBITDA	16.29	-56.43	30.6	2.54	2.79
Net Debt / (EBITDA - Capex)	10.7	10.69	20.76	2.11	2.47
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	12.24	14.15	46.28	24.93	37.1
Gross Profit, 1 Yr. Growth %	-0.81	38.72	-8.8	-118.85	-14.73
EBITDA, 1 Yr. Growth %	-606.25	-128.79	-215.94	1.33K	28.94
EBITA, 1 Yr. Growth %	722.19	-82.12	874.4	492.59	28.96
EBIT, 1 Yr. Growth %	722.19	-82.12	874.4	492.59	28.96
Earnings From Cont. Operations, 1 Yr. Growth %	-61.52	465.79	-13.18	16.85	-253.96
Net Income, 1 Yr. Growth %	-61.52	465.79	-13.18	16.85	-253.96
Normalized Net Income, 1 Yr. Growth %	-110.12	-713.54	74.71	-183.86	320.84
Diluted EPS Before Extra, 1 Yr. Growth %	-61.52	465.8	-13.18	16.85	-125.47
Net Property, Plant and Equip., 1 Yr. Growth %	2.1	54.87	-1.23	17.58	16.52
Accounts Receivable, 1 Yr. Growth %	-18	235.43	11.1	115.61	31.47
Total Assets, 1 Yr. Growth %	16.66	8.95	5.36	17.72	26.75
Common Equity, 1 Yr. Growth %	44.94	14.85	10.73	-12.03	66.44
Tangible Book Value, 1 Yr. Growth %	44.95	13.91	11.05	-13.81	68.53
Cash From Operations, 1 Yr. Growth %	-113.11	-350.57	883.55	15.05	236.14
Capital Expenditures, 1 Yr. Growth %	-57.02	246.18	-87.11	501.58	-1.63
Levered Free Cash Flow, 1 Yr. Growth %	-110.46	-674.78	-51.83	-23.05	-77.1
Unlevered Free Cash Flow, 1 Yr. Growth %	-109.75	-713.66	-51.87	-22.96	-77.1
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	15.76	13.19	43.05	35.18	30.65
Gross Profit, 2 Yr. CAGR %	2.21	17.3	-22.88	-58.53	-36.92
EBITDA, 2 Yr. CAGR %	39.8	20.73	-29.9	307.55	331.57
EBITA, 2 Yr. CAGR %	104.49	21.25	-6.54	659.88	177.46
EBIT, 2 Yr. CAGR %	104.49	21.25	-6.54	659.88	177.46
Earnings From Cont. Operations, 2 Yr. CAGR %	-9.01	47.54	124.52	0.72	45.79
Net Income, 2 Yr. CAGR %	-9.01	47.54	124.52	0.72	45.79
Normalized Net Income, 2 Yr. CAGR %	-52.8	-2.43	239.37	21.04	87.86
Diluted EPS Before Extra, 2 Yr. CAGR %	-8.96	47.54	124.52	0.72	-40.7
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.4	25.74	23.68	7.77	15.54
Accounts Receivable, 2 Yr. CAGR %	16.22	65.84	93.05	54.77	68.36
Total Assets, 2 Yr. CAGR %	13.77	12.74	6.1	11.37	21.22
Common Equity, 2 Yr. CAGR %	19.05	29.02	9.9	-1.3	22.24
Tangible Book Value, 2 Yr. CAGR %	19.06	28.5	9.58	-2.17	21.79
Cash From Operations, 2 Yr. CAGR %	-61.87	-42.69	224.92	236.39	70.06
Capital Expenditures, 2 Yr. CAGR %	-31.92	21.98	-33.21	-11.95	128.14
Levered Free Cash Flow, 2 Yr. CAGR %	-62.78	-22.45	275.9	-40.76	-16.2
Unlevered Free Cash Flow, 2 Yr. CAGR %	-64.29	-22.65	287.97	-40.76	-16.15
Dividend Per Share, 2 Yr. CAGR %	-	22.47	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	17.74	15.22	31.94	36.73	35.66
Gross Profit, 3 Yr. CAGR %	5.12	13.17	-16.13	-51.78	-28.67
EBITDA, 3 Yr. CAGR %	-14.16	-17.44	35.5	91.66	178.47
EBITA, 3 Yr. CAGR %	4.42	-9.24	92.93	72.98	321.74
EBIT, 3 Yr. CAGR %	4.42	-9.24	92.93	72.98	321.74
Earnings From Cont. Operations, 3 Yr. CAGR %	-29.19	67.31	24.71	80.6	22.66
Net Income, 3 Yr. CAGR %	-29.19	67.31	24.71	80.6	22.66
Normalized Net Income, 3 Yr. CAGR %	-54.82	27.99	21.35	112.96	83.37
Diluted EPS Before Extra, 3 Yr. CAGR %	-29.19	67.38	24.71	80.6	-32.66
Net Property, Plant and Equip., 3 Yr. CAGR %	6.76	11.49	16.02	21.61	9.65
Accounts Receivable, 3 Yr. CAGR %	5.65	65.47	45.11	100.29	46.58
Total Assets, 3 Yr. CAGR %	12	12.14	9.51	9.84	15.68
Common Equity, 3 Yr. CAGR %	10.06	17.63	20.52	2.04	18.28
Tangible Book Value, 3 Yr. CAGR %	10.06	17.32	20.29	1.15	18.1
Cash From Operations, 3 Yr. CAGR %	-58.44	-28.58	11.43	129.87	205.25
Capital Expenditures, 3 Yr. CAGR %	-33.11	17.07	-42.34	38.97	-12.46
Levered Free Cash Flow, 3 Yr. CAGR %	-58.8	-7.32	13.92	117.53	-31.59
Unlevered Free Cash Flow, 3 Yr. CAGR %	-59.64	-7.84	13.65	122.24	-31.58
Dividend Per Share, 3 Yr. CAGR %	-	-9.14	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	32.63	18.5	27.27	27.93	31.42
Gross Profit, 5 Yr. CAGR %	35.44	18.58	-7.13	-34.87	-25.16
EBITDA, 5 Yr. CAGR %	-18.6	-18.93	-20.84	68.93	115.37
EBITA, 5 Yr. CAGR %	-12.46	-15.89	-0.11	84.96	123.11
EBIT, 5 Yr. CAGR %	-12.46	-15.89	-0.11	84.96	123.11
Earnings From Cont. Operations, 5 Yr. CAGR %	-22.66	17.44	12.34	37.28	32.75
Net Income, 5 Yr. CAGR %	-22.66	17.44	12.34	37.28	32.75
Normalized Net Income, 5 Yr. CAGR %	-36.64	-2.13	10.25	26.97	44.53
Diluted EPS Before Extra, 5 Yr. CAGR %	-22.66	17.44	12.34	37.32	-7.37
Net Property, Plant and Equip., 5 Yr. CAGR %	30.04	30.42	13.23	9.99	15.83
Accounts Receivable, 5 Yr. CAGR %	24.91	56.93	34.45	61.1	54
Total Assets, 5 Yr. CAGR %	4.42	7.05	9.6	11.39	14.05
Common Equity, 5 Yr. CAGR %	7.57	9.75	9.99	8.53	21.21
Tangible Book Value, 5 Yr. CAGR %	7.59	9.58	9.87	7.97	20.89
Cash From Operations, 5 Yr. CAGR %	-25.35	-19.73	-5.39	12.05	31.96
Capital Expenditures, 5 Yr. CAGR %	12.86	25.04	-33.15	4.46	-0.04
Levered Free Cash Flow, 5 Yr. CAGR %	-38.29	-7.85	-0.24	7.35	-0.35
Unlevered Free Cash Flow, 5 Yr. CAGR %	-39.25	-7.82	-0.2	6.96	-0.47
Dividend Per Share, 5 Yr. CAGR %	-	-1.28	-	-	-