Hanwha General Insurance Co., Ltd. (KRX: 000370)

Hanwha General Insurance Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	4,646,735	4,417,821	4,084,693	4,876,179	4,855,497	4,578,315
Total Interest & Dividend Income	407,975	392,373	349,957	532,177	531,437	528,104
Gain (Loss) on Sale of Investments	119,927	138,229	110,002	64,630	89,314	47,432
Other Revenue	215,318	207,809	239,239	71,505	168,922	100,052
Total Revenue	5,389,955	5,156,232	4,783,891	5,544,491	5,645,171	5,253,902
Revenue Growth (YoY)	8.23%	7.78%	-13.72%	-1.78%	7.45%	4.35%
Policy Benefits	3,008,894	3,086,789	2,987,147	3,981,951	4,042,525	3,804,625
Policy Acquisition & Underwriting Costs	904,502	769,864	565,947	619,047	613,800	722,535
Amortization of Goodwill & Intangibles	20,695	20,234	19,696	18,741	17,154	12,090
Depreciation & Amortization	25.92	-	-	2,106	2,109	2,138
Selling, General & Administrative	576,115	506,564	483,783	324,961	302,589	313,868
Other Operating Expenses	157,346	118,862	121,852	270,510	231,359	258,561
Reinsurance Income or Expense	-	-	-	-5,920	-6,476	-5,170
Total Operating Expenses	4,971,558	4,784,087	4,434,650	5,467,542	5,463,991	5,345,856
Operating Income	418,398	372,145	349,242	76,949	181,179	-91,953
Interest Expense	-23,311	-34,753	-34,539	-22,699	-22,641	-25,275
Earnings From Equity Investments	4,568	1,782	1,113	6,212	-	-27.77
Currency Exchange Gain (Loss)	97,076	64,445	71,916	111,003	-41,510	72,464
Other Non Operating Income (Expenses)	-2,395	-474.24	425.04	312.38	-359.19	-749.6
EBT Excluding Unusual Items	494,336	403,145	388,157	171,778	116,670	-45,542
Gain (Loss) on Sale of Investments	-122,621	-95,313	-181,771	-30,936	-46,696	-49,324
Gain (Loss) on Sale of Assets	-432.87	-235.68	69,386	-44.79	1,040	-71.82
Asset Writedown	-	-	237.26	-1,230	-	-
Pretax Income	371,282	307,596	276,010	139,567	71,013	-94,938
Income Tax Expense	117,718	94,839	88,746	44,699	22,763	-25,864
Earnings From Continuing Ops.	253,564	212,757	187,264	94,867	48,250	-69,074
Minority Interest in Earnings	39,938	34,482	34,928	27,117	13,012	2,877
Net Income	293,502	247,239	222,191	121,984	61,262	-66,197
Preferred Dividends & Other Adjustments	15,262	20,582	17,619	12,320	11,433	13.21
Net Income to Common	278,240	226,657	204,572	109,664	49,829	-66,210
Net Income Growth	32.31%	11.27%	82.15%	99.12%	-	-
Shares Outstanding (Basic)	155	155	127	117	117	117
Shares Outstanding (Diluted)	155	155	127	117	117	117
Shares Change (YoY)	6.24%	22.30%	8.38%	-	-	-
EPS (Basic)	1799.78	1464.77	1616.85	939.40	426.84	-567.16
EPS (Diluted)	1799.78	1464.77	1616.85	939.00	426.84	-567.16
EPS Growth	32.16%	-9.41%	72.19%	119.99%	-	-
Free Cash Flow	1,661,904	1,562,017	-15,109	1,217,231	1,501,753	1,859,306
Free Cash Flow Per Share	10749.96	10094.53	-119.41	10426.95	12864.21	15927.05
Dividend Per Share	200.000	200.000	-	-	-	-
Operating Margin	7.76%	7.22%	7.30%	1.39%	3.21%	-1.75%
Profit Margin	5.16%	4.40%	4.28%	1.98%	0.88%	-1.26%
Free Cash Flow Margin	30.83%	30.29%	-0.32%	21.95%	26.60%	35.39%
EBITDA	506,767	454,916	422,240	145,033	244,880	-36,044
EBITDA Margin	9.40%	8.82%	8.83%	2.62%	4.34%	-0.69%
D&A For EBITDA	88,369	82,771	72,998	68,084	63,700	55,909
EBIT	418,398	372,145	349,242	76,949	181,179	-91,953
EBIT Margin	7.76%	7.22%	7.30%	1.39%	3.21%	-1.75%
Effective Tax Rate	31.71%	30.83%	32.15%	32.03%	32.05%	-

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