Discovery Limited (JSE: DSY)

Discovery Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Dec 31, 2023	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Premiums & Annuity Revenue	52,700	49,535	50,050	47,383	43,467	37,441
Total Interest & Dividend Income	3,873	2,090	1,107	907	541	427
Gain (Loss) on Sale of Investments	12,451	14,368	-1,658	12,296	4,096	5,870
Non-Insurance Activities Revenue	1,554	1,292	853	633	182	-
Other Revenue	21,771	20,192	17,588	16,912	16,312	15,120
Total Revenue	92,349	87,477	67,940	78,131	64,598	58,858
Revenue Growth (YoY)	67.54%	28.76%	-13.04%	20.95%	9.75%	11.47%
Policy Benefits	48,079	46,029	31,980	46,607	36,894	26,394
Policy Acquisition & Underwriting Costs	7,009	6,213	4,758	5,033	6,547	6,100
Amortization of Goodwill & Intangibles	56	56	59	66	76	99
Selling, General & Administrative	30,114	28,536	25,084	22,567	21,859	19,922
Provision for Bad Debts	189	139	67	271	181	-
Non-Insurance Activities Expense	457	327	208	153	32	-
Reinsurance Income or Expense	3,593	3,593	2,859	2,773	2,876	2,830
Total Operating Expenses	82,311	77,707	59,297	71,924	62,713	49,685
Operating Income	10,038	9,770	8,643	6,207	1,885	9,173
Interest Expense	-2,966	-2,685	-2,151	-2,034	-1,659	-1,342
Earnings From Equity Investments	738	515	422	523	264	170
Currency Exchange Gain (Loss)	82	150	155	-389	578	-
Other Non Operating Income (Expenses)	-	-	-	-	-	-33
EBT Excluding Unusual Items	7,892	7,750	7,069	4,307	1,068	7,968
Impairment of Goodwill	-9	-9	-	-	-9	-17
Asset Writedown	-369	-369	-125	-112	-259	-32
Pretax Income	7,514	7,372	6,944	4,195	800	7,919
Income Tax Expense	2,089	2,052	1,465	975	624	1,305
Earnings From Continuing Ops.	5,425	5,320	5,479	3,220	176	6,614
Minority Interest in Earnings	12	7	-1	-	2	-
Net Income	5,437	5,327	5,478	3,220	178	6,614
Preferred Dividends & Other Adjustments	222	159	56	63	81	81
Net Income to Common	5,215	5,168	5,422	3,157	97	6,533
Net Income Growth	0.48%	-2.76%	70.12%	1708.99%	-97.31%	15.33%
Shares Outstanding (Basic)	660	658	657	657	657	652
Shares Outstanding (Diluted)	660	661	663	664	661	653
Shares Change (YoY)	-0.64%	-0.26%	-0.15%	0.43%	1.33%	1.11%
EPS (Basic)	7.91	7.85	8.25	4.81	0.15	10.02
EPS (Diluted)	7.91	7.81	8.18	4.75	0.15	10.01
EPS Growth	-1.95%	-4.43%	72.00%	3134.01%	-98.53%	14.33%
Free Cash Flow	-210	1,998	3,322	10,130	7,775	1,228
Free Cash Flow Per Share	-0.32	3.02	5.01	15.25	11.76	1.88
Dividend Per Share	1.750	1.100	-	-	1.010	2.150
Dividend Growth	-	-	-	-	-53.02%	0%
Operating Margin	10.87%	11.17%	12.72%	7.94%	2.92%	15.58%
Profit Margin	5.65%	5.91%	7.98%	4.04%	0.15%	11.10%
Free Cash Flow Margin	-0.23%	2.28%	4.89%	12.97%	12.04%	2.09%
EBITDA	10,839	10,484	9,352	6,923	2,604	9,791
EBITDA Margin	11.74%	11.98%	13.76%	8.86%	4.03%	16.63%
D&A For EBITDA	801	714	709	716	719	618
EBIT	10,038	9,770	8,643	6,207	1,885	9,173
EBIT Margin	10.87%	11.17%	12.72%	7.94%	2.92%	15.58%
Effective Tax Rate	27.80%	27.83%	21.10%	23.24%	78.00%	16.48%

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