Discovery Income Statement

Financials in millions ZAR. Fiscal year is July - June.

Millions ZAR. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Premiums & Annuity Revenue	58,711	56,407	51,215	45,128	50,050	47,383
Total Interest & Dividend Income	-16,072	-9,887	-4,593	-5,461	1,107	907
Gain (Loss) on Sale of Investments	35,438	25,786	16,267	17,227	-1,658	12,296
Non-Insurance Activities Revenue	2,536	2,238	1,872	1,292	853	633
Other Revenue	10,454	13,267	14,621	12,582	17,588	16,912
Total Revenue	91,067	87,811	79,382	70,768	67,940	78,131
Revenue Growth (YoY)	10.73%	10.62%	12.17%	4.16%	-13.04%	20.95%
Policy Benefits	50,233	49,028	46,117	39,826	31,980	46,607
Policy Acquisition & Underwriting Costs	255	384	491	880	4,758	5,033
Amortization of Goodwill & Intangibles	-	-	-	-	59	66
Selling, General & Administrative	22,117	21,558	19,567	18,171	25,084	22,567
Provision for Bad Debts	311	279	183	139	67	271
Non-Insurance Activities Expense	582	543	474	327	208	153
Reinsurance Income or Expense	-	-	-	-	2,859	2,773
Total Operating Expenses	73,498	71,792	66,832	59,343	59,297	71,924
Operating Income	17,569	16,019	12,550	11,425	8,643	6,207
Interest Expense	-3,204	-3,324	-3,097	-2,663	-2,151	-2,034
Earnings From Equity Investments	1,523	1,215	975	525	422	523
Currency Exchange Gain (Loss)	-132	-36	-87	149	155	-389
EBT Excluding Unusual Items	15,756	13,874	10,341	9,436	7,069	4,307
Impairment of Goodwill	-20	-20	-	-9	-	-
Asset Writedown	-207	-207	-77	-369	-125	-112
Pretax Income	15,529	13,647	10,264	9,058	6,944	4,195
Income Tax Expense	4,704	4,089	2,715	2,486	1,465	975
Earnings From Continuing Ops.	10,825	9,558	7,549	6,572	5,479	3,220
Minority Interest in Earnings	-8	-6	-10	-7	-1	-
Net Income	10,817	9,552	7,539	6,565	5,478	3,220
Preferred Dividends & Other Adjustments	223	237	219	181	56	63
Net Income to Common	10,594	9,315	7,320	6,384	5,422	3,157
Net Income Growth	23.61%	26.70%	14.84%	19.84%	70.12%	1708.99%
Shares Outstanding (Basic)	668	665	661	658	657	657
Shares Outstanding (Diluted)	672	669	665	661	663	664
Shares Change (YoY)	0.72%	0.56%	0.56%	-0.27%	-0.15%	0.43%
EPS (Basic)	15.86	14.00	11.07	9.70	8.25	4.81
EPS (Diluted)	15.80	13.95	11.04	9.68	8.18	4.75
EPS Growth	23.35%	26.38%	14.04%	18.36%	72.00%	3134.01%
Free Cash Flow	6,767	8,373	2,319	3,670	3,322	10,130
Free Cash Flow Per Share	10.08	12.52	3.49	5.55	5.01	15.25
Dividend Per Share	3.120	2.880	2.170	1.100	-	-
Dividend Growth	30.54%	32.72%	97.27%	-	-	-
Operating Margin	19.29%	18.24%	15.81%	16.14%	12.72%	7.94%
Profit Margin	11.63%	10.61%	9.22%	9.02%	7.98%	4.04%
Free Cash Flow Margin	7.43%	9.54%	2.92%	5.19%	4.89%	12.96%
EBITDA	18,006	16,426	12,953	11,790	9,352	6,923
EBITDA Margin	19.77%	18.71%	16.32%	16.66%	13.76%	8.86%
D&A For EBITDA	437	407	403	365	709	716
EBIT	17,569	16,019	12,550	11,425	8,643	6,207
EBIT Margin	19.29%	18.24%	15.81%	16.14%	12.72%	7.94%
Effective Tax Rate	30.29%	29.96%	26.45%	27.45%	21.10%	23.24%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.