The People's Insurance Company (Group) of China Limited (HKG: 1339)

The People's Insurance Company (Group) of China Income Statement

Financials in millions CNY. 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	527,123	503,900	468,802	529,891	520,581	501,508
Total Interest & Dividend Income	15,803	17,549	10,713	38,708	37,318	35,335
Gain (Loss) on Sale of Investments	-14,028	-14,028	-5,185	11,501	9,070	1,413
Other Revenue	36,407	17,906	18,493	14,448	15,170	12,634
Total Revenue	565,305	525,327	492,823	594,548	582,139	550,890
Revenue Growth (YoY)	10.16%	6.60%	-17.11%	2.13%	5.67%	10.77%
Policy Benefits	490,200	479,397	439,680	423,403	382,837	364,578
Policy Acquisition & Underwriting Costs	-	-	-	50,939	62,489	66,448
Selling, General & Administrative	10,454	9,224	7,752	90,360	107,584	95,854
Provision for Bad Debts	-769	-6	-	-	-	-
Other Operating Expenses	-1,106	-438	-434	1,566	1,589	1,749
Total Operating Expenses	498,854	488,252	447,079	566,926	555,514	528,738
Operating Income	66,451	37,075	45,744	27,622	26,625	22,152
Interest Expense	-1,427	-1,463	-2,206	-5,460	-5,607	-5,698
Earnings From Equity Investments	-	-	-	13,571	11,413	12,566
Currency Exchange Gain (Loss)	-327	228	1,002	-331	-816	173
Other Non Operating Income (Expenses)	-140	-60	-205	-	-	-
EBT Excluding Unusual Items	64,557	35,780	44,335	35,402	31,615	29,193
Gain (Loss) on Sale of Assets	172	209	321	330	128	73
Asset Writedown	-438	-463	-182	-143	-133	-119
Other Unusual Items	-1,969	-1,969	-1,757	-	-	-
Pretax Income	62,322	33,557	42,717	35,589	31,610	29,147
Income Tax Expense	10,513	2,746	7,270	5,219	3,377	-2,134
Earnings From Continuing Ops.	51,809	30,811	35,447	30,370	28,233	31,281
Minority Interest in Earnings	-13,659	-8,489	-10,065	-8,894	-8,197	-9,146
Net Income	38,150	22,322	25,382	21,476	20,036	22,135
Net Income to Common	38,150	22,322	25,382	21,476	20,036	22,135
Net Income Growth	76.43%	-12.06%	18.19%	7.19%	-9.48%	71.43%
Shares Outstanding (Basic)	44,025	44,224	44,224	44,224	44,224	44,224
Shares Outstanding (Diluted)	44,025	44,224	44,224	44,224	44,224	44,224
Shares Change (YoY)	-1.51%	-	-	-	-	3.88%
EPS (Basic)	0.87	0.50	0.57	0.49	0.45	0.50
EPS (Diluted)	0.84	0.48	0.56	0.49	0.45	0.50
EPS Growth	80.21%	-14.14%	14.33%	7.92%	-10.09%	65.03%
Free Cash Flow	84,106	66,976	64,545	69,076	20,251	31,554
Free Cash Flow Per Share	1.91	1.51	1.46	1.56	0.46	0.71
Dividend Per Share	0.219	0.156	0.166	0.164	0.156	0.116
Dividend Growth	31.93%	-6.02%	1.22%	5.13%	34.48%	153.83%
Operating Margin	11.75%	7.06%	9.28%	4.65%	4.57%	4.02%
Profit Margin	6.75%	4.25%	5.15%	3.61%	3.44%	4.02%
Free Cash Flow Margin	14.88%	12.75%	13.10%	11.62%	3.48%	5.73%
EBITDA	68,962	39,635	48,370	30,144	29,002	24,521
EBITDA Margin	12.20%	7.54%	9.81%	5.07%	4.98%	4.45%
D&A For EBITDA	2,511	2,560	2,626	2,522	2,377	2,369
EBIT	66,451	37,075	45,744	27,622	26,625	22,152
EBIT Margin	11.75%	7.06%	9.28%	4.65%	4.57%	4.02%
Effective Tax Rate	16.87%	8.18%	17.02%	14.66%	10.68%	-
Revenue as Reported	553,467	553,467	528,527	594,606	581,605	551,212

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