Nitol Insurance Company Limited (DSE: NITOLINS)

Nitol Insurance Company 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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	365.67	361.46	347.5	360.08	477.22	532.68
Total Interest & Dividend Income	39.69	42.92	51.33	52.5	76.32	75.91
Gain (Loss) on Sale of Investments	0.03	0.03	-0.34	0.12	-	-0.51
Other Revenue	81.1	90.78	71.76	62.53	45.97	53.53
Total Revenue	486.49	495.19	470.25	475.23	599.5	661.6
Revenue Growth (YoY)	0.20%	5.30%	-1.05%	-20.73%	-9.39%	-1.29%
Policy Benefits	131.6	112.99	90.91	91.72	170.14	199.52
Policy Acquisition & Underwriting Costs	80.61	85.01	77.2	35.17	93.14	98.06
Depreciation & Amortization	20.25	20.25	18.26	18.2	19.39	20.44
Selling, General & Administrative	174.9	189.19	172.41	171.61	160.01	160.26
Other Operating Expenses	-0.04	-0.04	-0.26	-1.23	-0.95	-0
Total Operating Expenses	407.32	407.39	358.52	315.46	441.72	478.27
Operating Income	79.17	87.79	111.72	159.76	157.78	183.34
EBT Excluding Unusual Items	79.17	87.79	111.72	159.76	157.78	183.34
Gain (Loss) on Sale of Assets	-	-	0	0.09	-	-
Pretax Income	79.17	87.79	111.73	159.85	157.78	183.34
Income Tax Expense	28.35	28.39	26.06	42.13	43.44	53.79
Net Income	50.82	59.4	85.67	117.72	114.34	129.54
Net Income to Common	50.82	59.4	85.67	117.72	114.34	129.54
Net Income Growth	-35.40%	-30.66%	-27.23%	2.96%	-11.74%	8.86%
Shares Outstanding (Basic)	40	40	40	40	40	40
Shares Outstanding (Diluted)	40	40	40	40	40	40
Shares Change (YoY)	-0.05%	-	-	-	-	-
EPS (Basic)	1.27	1.48	2.13	2.93	2.84	3.22
EPS (Diluted)	1.27	1.48	2.13	2.93	2.84	3.22
EPS Growth	-35.37%	-30.66%	-27.23%	2.96%	-11.74%	8.86%
Free Cash Flow	-271.16	-292.44	-23.95	11.75	40.87	125.03
Free Cash Flow Per Share	-6.76	-7.27	-0.60	0.29	1.02	3.11
Dividend Per Share	1.050	1.050	1.100	1.250	1.000	1.500
Dividend Growth	-4.55%	-4.55%	-12.00%	25.00%	-33.33%	0%
Operating Margin	16.27%	17.73%	23.76%	33.62%	26.32%	27.71%
Profit Margin	10.45%	11.99%	18.22%	24.77%	19.07%	19.58%
Free Cash Flow Margin	-55.74%	-59.06%	-5.09%	2.47%	6.82%	18.90%
EBITDA	96.65	108.04	129.98	177.96	177.17	203.78
EBITDA Margin	19.87%	21.82%	27.64%	37.45%	29.55%	30.80%
D&A For EBITDA	17.47	20.25	18.26	18.2	19.39	20.44
EBIT	79.17	87.79	111.72	159.76	157.78	183.34
EBIT Margin	16.27%	17.73%	23.76%	33.62%	26.32%	27.71%
Effective Tax Rate	35.81%	32.34%	23.33%	26.36%	27.53%	29.34%

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