Mercantile Islami Insurance PLC (DSE: MERCINS)

DSE: MERCINS Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	260.53	308.87	315.79	296.54	227.45	191.01
Total Interest & Dividend Income	87.35	94.45	79.24	64.62	78.43	73.96
Gain (Loss) on Sale of Investments	1.35	1.35	2.79	12.35	-	-
Other Revenue	46.71	44.97	51.17	48.77	47.56	41.33
Total Revenue	395.94	449.64	448.98	422.28	353.43	306.3
Revenue Growth (YoY)	-12.53%	0.15%	6.32%	19.48%	15.39%	5.83%
Policy Benefits	164.4	179.61	127.56	148.52	102.27	79.35
Policy Acquisition & Underwriting Costs	60.61	60.61	66.83	28.04	53.28	45.15
Depreciation & Amortization	14.31	14.31	14.42	4.68	3.97	4.62
Selling, General & Administrative	113.98	146.01	129.65	120.36	99.82	99.29
Total Operating Expenses	353.3	400.54	338.46	301.61	259.33	228.41
Operating Income	42.64	49.1	110.52	120.68	94.1	77.89
Other Non Operating Income (Expenses)	-1.33	-1.33	-1.86	-1.94	-0.72	-0.93
EBT Excluding Unusual Items	41.32	47.77	108.66	118.73	93.38	76.95
Pretax Income	41.32	47.77	108.66	118.73	93.38	76.95
Income Tax Expense	6.71	-1.99	24.58	29.24	20.84	15.3
Net Income	34.61	49.76	84.08	89.49	72.54	61.66
Net Income to Common	34.61	49.76	84.08	89.49	72.54	61.66
Net Income Growth	-53.96%	-40.82%	-6.05%	23.37%	17.65%	29.08%
Shares Outstanding (Basic)	43	43	43	43	43	43
Shares Outstanding (Diluted)	43	43	43	43	43	43
EPS (Basic)	0.80	1.15	1.95	2.08	1.68	1.43
EPS (Diluted)	0.80	1.15	1.95	2.08	1.68	1.43
EPS Growth	-53.96%	-40.82%	-6.05%	23.37%	17.65%	29.08%
Free Cash Flow	18.59	36.12	20	41.33	45.87	43.2
Free Cash Flow Per Share	0.43	0.84	0.46	0.96	1.06	1.00
Dividend Per Share	1.000	1.000	1.000	1.000	1.000	0.700
Dividend Growth	0%	0%	0%	0%	42.86%	-30.00%
Operating Margin	10.77%	10.92%	24.62%	28.58%	26.62%	25.43%
Profit Margin	8.74%	11.07%	18.73%	21.19%	20.52%	20.13%
Free Cash Flow Margin	4.70%	8.03%	4.45%	9.79%	12.98%	14.10%
EBITDA	43.39	55.55	118.05	125.35	98.07	82.51
EBITDA Margin	10.96%	12.35%	26.29%	29.68%	27.75%	26.94%
D&A For EBITDA	0.74	6.45	7.53	4.68	3.97	4.62
EBIT	42.64	49.1	110.52	120.68	94.1	77.89
EBIT Margin	10.77%	10.92%	24.62%	28.58%	26.62%	25.43%
Effective Tax Rate	16.23%	-	22.62%	24.63%	22.32%	19.88%

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