National Insurance Company (Palestine) (PEX: NIC)

NIC Income Statement

Financials in millions USD. 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	52.51	53.96	56.16	48.64	44.67	42.22
Total Interest & Dividend Income	3.63	3.71	3.41	1.68	1.72	1.97
Gain (Loss) on Sale of Investments	-1.64	-2.2	0.94	1.61	0.36	0.53
Other Revenue	0.51	0.6	0.35	2.82	2.71	1.47
Total Revenue	55.01	56.07	60.86	54.75	49.46	46.2
Revenue Growth (YoY)	-3.44%	-7.87%	11.17%	10.70%	7.06%	0.06%
Policy Benefits	45.77	50.35	54.31	40.59	30.53	30.99
Policy Acquisition & Underwriting Costs	-	-	-	1.96	1.91	1.91
Selling, General & Administrative	-0.01	-	-	9.04	8.7	8.13
Provision for Bad Debts	-	-	-	0.45	1.21	0.23
Other Operating Expenses	1.98	1.94	1.52	-	-	-
Total Operating Expenses	47.74	52.29	55.83	52.04	42.35	41.26
Operating Income	7.26	3.79	5.04	2.71	7.1	4.93
Interest Expense	-3.91	-2.65	-0.67	-0.09	-0.1	-0.07
Currency Exchange Gain (Loss)	-0.58	-0.37	-0.62	0.65	2.71	2.36
Other Non Operating Income (Expenses)	-	-	-	-	-	1.56
EBT Excluding Unusual Items	2.78	0.77	3.74	3.26	9.7	8.78
Gain (Loss) on Sale of Assets	0.02	0.14	0.21	0.07	0.03	-0
Other Unusual Items	-	-	-	-0.01	0.06	0
Pretax Income	2.8	0.91	3.95	3.32	9.8	8.79
Income Tax Expense	1.57	1.5	0.89	0.22	1.99	1.69
Earnings From Continuing Ops.	1.23	-0.59	3.06	3.11	7.81	7.09
Net Income to Company	1.23	-0.59	3.06	3.11	7.81	7.09
Minority Interest in Earnings	-0.06	-0.06	-0.14	-0.08	-0.09	-0.1
Net Income	1.17	-0.66	2.92	3.02	7.72	6.99
Net Income to Common	1.17	-0.66	2.92	3.02	7.72	6.99
Net Income Growth	-55.59%	-	-3.47%	-60.82%	10.45%	83.29%
Shares Outstanding (Basic)	18	18	18	18	18	18
Shares Outstanding (Diluted)	18	18	18	18	18	18
Shares Change (YoY)	-0.21%	-0.21%	-0.00%	-	-	0.28%
EPS (Basic)	0.06	-0.04	0.16	0.16	0.42	0.38
EPS (Diluted)	0.06	-0.04	0.16	0.16	0.42	0.38
EPS Growth	-55.50%	-	-3.47%	-60.82%	10.45%	82.78%
Free Cash Flow	0.85	1.09	-4.7	0.07	2.65	6.05
Free Cash Flow Per Share	0.05	0.06	-0.25	0.00	0.14	0.33
Dividend Per Share	0.047	0.047	0.117	0.163	0.182	0.162
Dividend Growth	-60.03%	-60.03%	-28.55%	-10.53%	12.45%	-9.08%
Operating Margin	13.21%	6.75%	8.27%	4.94%	14.36%	10.68%
Profit Margin	2.12%	-1.17%	4.80%	5.52%	15.61%	15.13%
Free Cash Flow Margin	1.55%	1.94%	-7.73%	0.12%	5.35%	13.10%
EBITDA	7.74	4.32	5.56	3.2	7.57	5.37
EBITDA Margin	14.07%	7.71%	9.13%	5.85%	15.31%	11.62%
D&A For EBITDA	0.48	0.54	0.52	0.49	0.47	0.44
EBIT	7.26	3.79	5.04	2.71	7.1	4.93
EBIT Margin	13.21%	6.75%	8.27%	4.94%	14.36%	10.68%
Effective Tax Rate	56.24%	164.80%	22.56%	6.52%	20.31%	19.27%

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