Shinkong Insurance Co., Ltd. (TPE: 2850)

Shinkong Insurance Income Statement

Financials in millions TWD. 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	19,010	18,668	17,951	16,841	15,227	14,378
Total Interest & Dividend Income	657.15	613.89	448	389.43	397.22	407.29
Gain (Loss) on Sale of Investments	501.39	229.81	-382.53	949.64	-424.57	437.62
Other Revenue	423.55	371.92	321.18	396.35	1,540	442.52
Total Revenue	20,592	19,883	18,338	18,576	16,739	15,666
Revenue Growth (YoY)	4.41%	8.43%	-1.28%	10.98%	6.85%	6.85%
Policy Benefits	9,684	9,803	9,624	9,099	8,420	7,807
Policy Acquisition & Underwriting Costs	2,908	2,836	2,991	2,912	2,676	2,547
Selling, General & Administrative	3,359	3,113	3,747	3,640	3,387	3,241
Provision for Bad Debts	23.39	23.34	17.6	20.34	-	-
Other Operating Expenses	629.88	612.65	90.91	129.16	111.12	65.93
Total Operating Expenses	16,604	16,388	16,470	15,800	14,594	13,662
Operating Income	3,988	3,495	1,869	2,776	2,145	2,004
Interest Expense	-0.58	-0.58	-	-	-	-
Currency Exchange Gain (Loss)	-78.05	21.27	552.7	-138.1	-228.74	-143.58
Other Non Operating Income (Expenses)	12.79	8.03	52.47	16.71	13.84	30.43
EBT Excluding Unusual Items	3,922	3,524	2,474	2,655	1,930	1,891
Gain (Loss) on Sale of Assets	-0.03	-0.03	-	-	-	-
Other Unusual Items	1.07	-1.01	0.12	0.46	-	-
Pretax Income	3,923	3,523	2,474	2,655	1,930	1,891
Income Tax Expense	673.15	608.51	470.25	400.99	299.92	328.84
Net Income	3,250	2,914	2,004	2,254	1,630	1,562
Net Income to Common	3,250	2,914	2,004	2,254	1,630	1,562
Net Income Growth	22.22%	45.45%	-11.11%	38.31%	4.33%	-11.77%
Shares Outstanding (Basic)	316	316	316	316	316	316
Shares Outstanding (Diluted)	316	316	316	316	316	316
EPS (Basic)	10.29	9.22	6.34	7.13	5.16	4.94
EPS (Diluted)	10.29	9.22	6.34	7.13	5.16	4.94
EPS Growth	22.22%	45.45%	-11.11%	38.31%	4.33%	-11.77%
Free Cash Flow	2,666	1,519	105.84	1,640	2,067	785.86
Free Cash Flow Per Share	8.44	4.81	0.33	5.19	6.54	2.49
Dividend Per Share	4.990	4.990	2.540	3.200	1.950	1.800
Dividend Growth	96.46%	96.46%	-20.63%	64.10%	8.33%	-32.08%
Operating Margin	19.37%	17.58%	10.19%	14.94%	12.81%	12.79%
Profit Margin	15.78%	14.66%	10.93%	12.13%	9.74%	9.97%
Free Cash Flow Margin	12.95%	7.64%	0.58%	8.83%	12.35%	5.02%
EBITDA	4,050	3,561	1,935	2,840	2,204	2,057
EBITDA Margin	19.67%	17.91%	10.55%	15.29%	13.17%	13.13%
D&A For EBITDA	61.97	66.19	66.12	64.13	59.83	52.85
EBIT	3,988	3,495	1,869	2,776	2,145	2,004
EBIT Margin	19.36%	17.58%	10.19%	14.94%	12.81%	12.79%
Effective Tax Rate	17.16%	17.27%	19.01%	15.10%	15.54%	17.39%
Revenue as Reported	20,550	19,939	18,931	18,464	16,510	15,531

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