Muang Thai Insurance PCL Income Statement

Financials in millions THB. Fiscal year is January - December.

Millions THB. 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	19,380	11,219	10,029	8,573	7,438
Total Interest & Dividend Income	528.45	510.47	438.32	421.41	507.1
Gain (Loss) on Sale of Investments	63.1	8.61	59.88	-80.13	102.14
Other Revenue	-	2,057	2,030	2,410	2,231
Total Revenue	19,971	13,795	12,557	11,324	10,278
Revenue Growth (YoY)	44.77%	9.86%	10.89%	10.17%	3.89%
Policy Benefits	18,197	6,548	5,665	4,576	3,972
Policy Acquisition & Underwriting Costs	-	4,640	4,486	4,254	3,912
Selling, General & Administrative	-	1,655	1,563	1,474	1,418
Other Operating Expenses	610.13	2.23	3.06	2.1	1.55
Total Operating Expenses	18,807	12,845	11,718	10,306	9,304
Operating Income	1,164	949.85	839.63	1,018	974.52
Interest Expense	-2.36	-2.8	-2.85	-2.52	-2.63
Earnings From Equity Investments	6.06	-	-	-	-
Other Non Operating Income (Expenses)	11.86	0.02	0.04	0.11	-0.15
EBT Excluding Unusual Items	1,180	947.07	836.82	1,015	971.74
Asset Writedown	0.43	-	-	-	-
Pretax Income	1,180	947.07	836.82	1,015	971.74
Income Tax Expense	222.44	192.71	181.36	205.01	204.3
Net Income	957.61	754.36	655.46	810.22	767.45
Net Income to Common	957.61	754.36	655.46	810.22	767.45
Net Income Growth	26.94%	15.09%	-19.10%	5.57%	29.88%
Shares Outstanding (Basic)	591	590	590	590	590
Shares Outstanding (Diluted)	591	590	590	590	590
Shares Change (YoY)	0.19%	-	-	0.02%	-0.02%
EPS (Basic)	1.62	1.28	1.11	1.37	1.30
EPS (Diluted)	1.62	1.28	1.11	1.37	1.30
EPS Growth	26.70%	15.09%	-19.10%	5.55%	29.90%
Free Cash Flow	364.73	308.41	751.76	480.81	426.99
Free Cash Flow Per Share	0.62	0.52	1.27	0.81	0.72
Dividend Per Share	-	0.800	0.500	0.618	0.520
Dividend Growth	-	60.00%	-19.09%	18.85%	15.30%
Operating Margin	5.83%	6.88%	6.69%	8.99%	9.48%
Profit Margin	4.79%	5.47%	5.22%	7.16%	7.47%
Free Cash Flow Margin	1.83%	2.24%	5.99%	4.25%	4.15%
EBITDA	1,279	1,049	918.81	1,085	1,039
EBITDA Margin	6.40%	7.60%	7.32%	9.58%	10.11%
D&A For EBITDA	114.53	98.77	79.18	67.65	64.11
EBIT	1,164	949.85	839.63	1,018	974.52
EBIT Margin	5.83%	6.88%	6.69%	8.99%	9.48%
Effective Tax Rate	18.85%	20.35%	21.67%	20.19%	21.02%
Revenue as Reported	-	13,834	12,598	11,324	10,279

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