SIC Insurance PLC (GHSE: SIC)

SIC Insurance Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Dec 31, 2023	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	373.19	373.19	355.53	141.13	115.52	107.35
Total Interest & Dividend Income	28.65	28.65	40.62	13.95	13.07	13.56
Gain (Loss) on Sale of Investments	-13.68	-13.68	-50.32	-0.21	-	-
Other Revenue	32.82	32.82	29.53	11.86	31.02	17.6
Total Revenue	420.97	420.97	375.37	176.64	169.52	145.2
Revenue Growth (YoY)	148.32%	12.15%	112.51%	4.20%	16.75%	2.27%
Policy Benefits	222.23	222.23	239.97	15.13	33.6	18.46
Policy Acquisition & Underwriting Costs	-	-	-	8.88	-	-
Amortization of Goodwill & Intangibles	1.79	1.79	2.36	-	-	-
Depreciation & Amortization	8.93	8.93	12.37	-	-	-
Selling, General & Administrative	1.43	1.43	1.23	119.58	106.79	109.14
Provision for Bad Debts	0.16	0.16	0.29	-	-	0.21
Other Operating Expenses	69.47	69.47	43.59	3.77	-0.28	-1.3
Total Operating Expenses	397.29	397.29	385.36	147.37	140.11	126.51
Operating Income	23.68	23.68	-9.99	29.27	29.42	18.69
Interest Expense	-2.46	-2.46	-3.18	-2.55	-1.94	-3.5
Currency Exchange Gain (Loss)	0.01	0.01	0.64	-	-	-
Other Non Operating Income (Expenses)	0.28	0.28	-	16.21	0	-
EBT Excluding Unusual Items	21.51	21.51	-12.53	42.93	27.48	15.19
Gain (Loss) on Sale of Assets	0.07	0.07	0.01	11.58	0.11	0.02
Asset Writedown	-	-	44.17	17.41	-	-
Pretax Income	21.58	21.58	31.65	71.92	27.59	15.21
Income Tax Expense	8.77	8.77	8.59	11.58	13.04	4.1
Earnings From Continuing Ops.	12.81	12.81	23.06	60.33	14.55	11.11
Minority Interest in Earnings	0.67	0.67	-0.42	-0.53	-2.16	-0.52
Net Income	13.49	13.49	22.65	59.8	12.39	10.59
Net Income to Common	13.49	13.49	22.65	59.8	12.39	10.59
Net Income Growth	8.82%	-40.45%	-62.13%	382.54%	17.04%	-76.95%
Shares Outstanding (Basic)	196	196	196	196	196	196
Shares Outstanding (Diluted)	196	196	196	196	196	196
EPS (Basic)	0.07	0.07	0.12	0.31	0.06	0.05
EPS (Diluted)	0.07	0.07	0.12	0.31	0.06	0.05
EPS Growth	8.83%	-40.45%	-62.13%	382.54%	17.04%	-76.95%
Free Cash Flow	75.31	75.31	68.87	-65.43	14.18	18.35
Free Cash Flow Per Share	0.38	0.38	0.35	-0.33	0.07	0.09
Dividend Per Share	0.051	0.051	-	0.046	0.015	-
Dividend Growth	233.99%	-	-	200.65%	-	-
Operating Margin	5.63%	5.63%	-2.66%	16.57%	17.35%	12.87%
Profit Margin	3.20%	3.20%	6.03%	33.86%	7.31%	7.29%
Free Cash Flow Margin	17.89%	17.89%	18.35%	-37.04%	8.36%	12.63%
EBITDA	32.61	32.61	2.38	37.31	36.76	25.95
EBITDA Margin	7.75%	7.75%	0.63%	21.12%	21.69%	17.87%
D&A For EBITDA	8.93	8.93	12.37	8.04	7.35	7.26
EBIT	23.68	23.68	-9.99	29.27	29.42	18.69
EBIT Margin	5.63%	5.63%	-2.66%	16.57%	17.35%	12.87%
Effective Tax Rate	40.63%	40.63%	27.13%	16.10%	47.25%	26.96%

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