Stock VERITASKAP VERITAS KAPITAL ASSURANCE PLC
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Financials Veritas Kapital Assurance Plc

Equities

VERITASKAP

NGUNITYKAP04

Property & Casualty Insurance

End-of-day quote Nigerian S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
0.59 NGN +5.36% Intraday chart for Veritas Kapital Assurance Plc -.--% +59.46%
Jan. 30 Veritas Kapital Assurance Plc Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 Veritas Kapital Assurance Plc Reports Earnings Results for the Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 7,396 3,402 2,958 2,958 3,106 2,773
Enterprise Value (EV) 1 2,912 -1,028 -1,396 -1,275 -2,776 -1,626
P/E ratio - - - - 5.76 x 5.27 x
Yield - - - - - -
Capitalization / Revenue 2.3 x 0.89 x 0.77 x 0.63 x 0.61 x 0.49 x
EV / Revenue 0.91 x -0.27 x -0.36 x -0.27 x -0.54 x -0.29 x
EV / EBITDA -6.82 x 47.7 x -3.39 x -1.33 x -5.48 x -1.98 x
EV / FCF - 3,088,392 x 2,242,039 x -403,446 x -2,612,872 x 1,666,165 x
FCF Yield - 0% 0% -0% -0% 0%
Price to Book - - - - 0.29 x 0.26 x
Nbr of stocks (in thousands) 14,791,111 14,791,111 14,791,111 14,791,111 14,791,111 13,866,666
Reference price 2 0.5000 0.2300 0.2000 0.2000 0.2100 0.2000
Announcement Date 5/22/19 5/22/19 4/1/20 3/31/21 5/19/22 3/31/23
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 3,212 3,804 3,826 4,708 5,097 5,630
EBITDA 1 -427.2 -21.57 411.9 957.7 506.2 823.1
EBIT 1 -529 -190.6 233.9 810.5 298 614.1
Operating Margin -16.47% -5.01% 6.11% 17.22% 5.85% 10.91%
Earnings before Tax (EBT) 1 -558.6 -262.9 214.4 844 344.4 763.5
Net income 1 -749 -631.8 184.6 885 505.3 526.1
Net margin -23.32% -16.61% 4.83% 18.8% 9.91% 9.35%
EPS - - - - 0.0364 0.0379
Free Cash Flow - -332.9 -622.6 3,160 1,062 -976
FCF margin - -8.75% -16.28% 67.13% 20.84% -17.34%
FCF Conversion (EBITDA) - - - 330% 209.85% -
FCF Conversion (Net income) - - - 357.09% 210.24% -
Dividend per Share - - - - - -
Announcement Date 5/22/19 5/22/19 4/1/20 3/31/21 5/19/22 3/31/23
1NGN in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 4,483 4,430 4,354 4,233 5,882 4,400
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - -333 -623 3,160 1,062 -976
ROE (net income / shareholders' equity) - -8.08% 1.95% 10.4% 5.62% 5.91%
ROA (Net income/ Total Assets) - -1.02% 1.21% 3.85% 1.21% 2.25%
Assets 1 - 62,005 15,250 22,997 41,771 23,352
Book Value Per Share - - - - 0.7300 0.7800
Cash Flow per Share - - - - 0.4200 0.3200
Capex 1 102 722 284 202 255 226
Capex / Sales 3.19% 18.98% 7.43% 4.3% 5.01% 4.01%
Announcement Date 5/22/19 5/22/19 4/1/20 3/31/21 5/19/22 3/31/23
1NGN in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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