Union Assurance PLC (COSE: UAL.N0000)

Union Assurance Income Statement

Financials in millions LKR. 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
Premiums & Annuity Revenue	18,936	17,834	15,788	14,680	12,519	11,122
Total Interest & Dividend Income	11,370	10,817	7,479	5,276	5,032	4,565
Gain (Loss) on Sale of Investments	1,278	1,278	-38.29	667.07	-125	-273.53
Other Revenue	739.78	28.84	87.72	27.14	42.93	48.07
Total Revenue	32,324	29,958	23,316	20,651	17,469	15,461
Revenue Growth (YoY)	18.19%	28.49%	12.91%	18.21%	12.99%	6.42%
Policy Benefits	18,171	16,550	12,172	11,686	10,001	8,487
Policy Acquisition & Underwriting Costs	3,640	3,640	3,191	3,037	2,284	1,940
Depreciation & Amortization	576.34	543.61	535.09	435.56	390.27	299.89
Selling, General & Administrative	4,819	4,338	3,933	3,210	3,256	3,014
Reinsurance Income or Expense	96.33	96.33	38.85	192.77	138.93	82.5
Total Operating Expenses	27,376	24,975	19,792	18,175	15,792	13,658
Operating Income	4,948	4,982	3,524	2,475	1,677	1,803
Interest Expense	-38.97	-38.97	-33.83	-	-	-
Earnings From Equity Investments	288.51	311.87	229.64	151.56	116.44	104.74
EBT Excluding Unusual Items	5,197	5,255	3,720	2,627	1,793	1,908
Gain (Loss) on Sale of Assets	0.19	0.19	0.25	0.39	0.65	0.57
Pretax Income	5,198	5,256	3,720	2,627	1,794	1,908
Income Tax Expense	1,493	1,497	972.85	573.72	873.25	750.43
Earnings From Continuing Ops.	3,704	3,758	2,747	2,054	920.6	1,158
Net Income	3,704	3,758	2,747	2,054	920.6	1,158
Net Income to Common	3,704	3,758	2,747	2,054	920.6	1,158
Net Income Growth	16.45%	36.81%	33.77%	123.07%	-20.50%	-64.30%
Shares Outstanding (Basic)	589	589	589	589	589	589
Shares Outstanding (Diluted)	589	589	589	589	589	589
Shares Change (YoY)	0.17%	-	-	-0.00%	-	-
EPS (Basic)	6.29	6.38	4.66	3.48	1.56	1.97
EPS (Diluted)	6.29	6.38	4.66	3.48	1.56	1.97
EPS Growth	16.29%	36.86%	33.91%	122.79%	-20.51%	-64.30%
Free Cash Flow	11,717	10,384	8,142	9,077	8,212	6,573
Free Cash Flow Per Share	19.90	17.62	13.82	15.40	13.94	11.15
Dividend Per Share	8.750	8.750	-	2.200	1.400	2.000
Dividend Growth	-	-	-	57.14%	-30.00%	0%
Operating Margin	15.31%	16.63%	15.11%	11.99%	9.60%	11.66%
Profit Margin	11.46%	12.55%	11.78%	9.94%	5.27%	7.49%
Free Cash Flow Margin	36.25%	34.66%	34.92%	43.96%	47.01%	42.52%
EBITDA	5,271	5,272	3,935	2,819	1,940	2,009
EBITDA Margin	16.31%	17.60%	16.88%	13.65%	11.10%	12.99%
D&A For EBITDA	322.72	289.99	411.19	343.89	262.89	205.35
EBIT	4,948	4,982	3,524	2,475	1,677	1,803
EBIT Margin	15.31%	16.63%	15.11%	11.99%	9.60%	11.66%
Effective Tax Rate	28.73%	28.49%	26.15%	21.84%	48.68%	39.32%
Revenue as Reported	32,324	29,958	23,316	20,651	17,470	15,462

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