Sukoon Insurance PJSC (DFM: SUKOON)

Sukoon Insurance PJSC Income Statement

Financials in millions AED. 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	2,327	1,962	1,741	1,554	1,632	1,636
Total Interest & Dividend Income	132.45	147.11	123.64	121.91	113.18	94.15
Gain (Loss) on Sale of Investments	1.32	1.32	-2.46	3.3	1	7.54
Total Revenue	2,459	2,108	1,862	1,679	1,746	1,738
Revenue Growth (YoY)	9.07%	13.20%	10.91%	-3.87%	0.49%	5.69%
Policy Benefits	1,311	1,238	1,020	1,099	1,104	1,147
Policy Acquisition & Underwriting Costs	824.68	540.26	469.01	327.29	324.49	370.95
Selling, General & Administrative	114.31	112.36	106.85	284.88	285.09	293.07
Provision for Bad Debts	-	-	-	23.91	13.44	13.81
Other Operating Expenses	-25.63	-17.65	0.5	-24.65	-7.1	-24.19
Reinsurance Income or Expense	-	-	-	228.61	195.03	262.99
Total Operating Expenses	2,224	1,873	1,596	1,481	1,525	1,537
Operating Income	234.64	234.81	266.09	197.39	221.31	200.35
Interest Expense	-5.23	-3.24	-	-	-	-0.2
Currency Exchange Gain (Loss)	-	-	-89	-	-	-
Other Non Operating Income (Expenses)	12.79	-6.99	22.18	-	-	-
EBT Excluding Unusual Items	242.2	224.59	199.27	197.39	221.31	200.15
Gain (Loss) on Sale of Assets	-	-	63.04	-3.57	-	-
Asset Writedown	26.08	26.08	2.01	13.11	-23.88	-9.99
Other Unusual Items	7.69	7.69	-	-	-	-
Pretax Income	275.97	258.36	264.32	206.94	197.43	190.15
Income Tax Expense	13.77	0.97	5.01	0.81	0.89	-0.39
Earnings From Continuing Ops.	262.2	257.39	259.31	206.13	196.55	190.55
Minority Interest in Earnings	-0.87	-0.52	-	0.27	-2.29	-3.65
Net Income	261.33	256.87	259.31	206.39	194.26	186.89
Net Income to Common	261.33	256.87	259.31	206.39	194.26	186.89
Net Income Growth	7.29%	-0.94%	25.64%	6.25%	3.94%	2136.07%
Shares Outstanding (Basic)	462	462	462	462	462	462
Shares Outstanding (Diluted)	462	462	462	462	462	462
EPS (Basic)	0.57	0.56	0.56	0.45	0.42	0.40
EPS (Diluted)	0.57	0.56	0.56	0.45	0.42	0.40
EPS Growth	7.29%	-0.94%	25.64%	6.25%	3.94%	2136.18%
Free Cash Flow	415.63	252.26	290.79	39.89	171.5	183.43
Free Cash Flow Per Share	0.90	0.55	0.63	0.09	0.37	0.40
Dividend Per Share	0.200	0.200	0.200	0.200	0.200	-
Operating Margin	9.54%	11.14%	14.29%	11.76%	12.67%	11.53%
Profit Margin	10.63%	12.19%	13.93%	12.29%	11.12%	10.75%
Free Cash Flow Margin	16.91%	11.97%	15.62%	2.38%	9.82%	10.56%
EBITDA	255.1	254.09	286.63	203.29	225.92	206.14
EBITDA Margin	10.38%	12.05%	15.39%	12.11%	12.94%	11.86%
D&A For EBITDA	20.46	19.28	20.54	5.89	4.61	5.8
EBIT	234.64	234.81	266.09	197.39	221.31	200.35
EBIT Margin	9.54%	11.14%	14.29%	11.76%	12.67%	11.53%
Effective Tax Rate	4.99%	0.38%	1.90%	0.39%	0.45%	-

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