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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	364.27	361.46	347.5	360.08	477.22	532.68
Total Interest & Dividend Income	37.28	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	76.8	90.78	71.76	62.53	45.97	53.53
Total Revenue	478.38	495.19	470.25	475.23	599.5	661.6
Revenue Growth (YoY)	-2.64%	5.30%	-1.05%	-20.73%	-9.39%	-1.29%
Policy Benefits	121.46	112.99	90.91	91.72	170.14	199.52
Policy Acquisition & Underwriting Costs	77.29	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	178.74	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	397.7	407.39	358.52	315.46	441.72	478.27
Operating Income	80.69	87.79	111.72	159.76	157.78	183.34
EBT Excluding Unusual Items	80.69	87.79	111.72	159.76	157.78	183.34
Gain (Loss) on Sale of Assets	-	-	0	0.09	-	-
Pretax Income	80.69	87.79	111.73	159.85	157.78	183.34
Income Tax Expense	32.75	28.39	26.06	42.13	43.44	53.79
Net Income	47.94	59.4	85.67	117.72	114.34	129.54
Net Income to Common	47.94	59.4	85.67	117.72	114.34	129.54
Net Income Growth	-38.92%	-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)	-0.72%	-	-	-	-	-
EPS (Basic)	1.21	1.48	2.13	2.93	2.84	3.22
EPS (Diluted)	1.21	1.48	2.13	2.93	2.84	3.22
EPS Growth	-38.47%	-30.66%	-27.23%	2.96%	-11.74%	8.86%
Free Cash Flow	3.24	-292.44	-23.95	11.75	40.87	125.03
Free Cash Flow Per Share	0.08	-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	16.87%	17.73%	23.76%	33.62%	26.32%	27.71%
Profit Margin	10.02%	11.99%	18.22%	24.77%	19.07%	19.58%
Free Cash Flow Margin	0.68%	-59.06%	-5.09%	2.47%	6.82%	18.90%
EBITDA	100.37	108.04	129.98	177.96	177.17	203.78
EBITDA Margin	20.98%	21.82%	27.64%	37.45%	29.55%	30.80%
D&A For EBITDA	19.68	20.25	18.26	18.2	19.39	20.44
EBIT	80.69	87.79	111.72	159.76	157.78	183.34
EBIT Margin	16.87%	17.73%	23.76%	33.62%	26.32%	27.71%
Effective Tax Rate	40.59%	32.34%	23.33%	26.36%	27.53%	29.34%

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