CTBC Financial Holding Co., Ltd. (TPE: 2891)

CTBC Financial Holding 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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	141,475	131,400	129,986	144,210	168,231	212,525
Total Interest & Dividend Income	235,253	222,063	160,825	124,148	130,745	142,530
Gain (Loss) on Sale of Investments	28,579	47,297	-71,671	57,319	60,541	52,412
Other Revenue	46,985	24,699	63,770	57,968	64,834	34,506
Total Revenue	452,292	425,459	282,910	383,645	424,351	441,973
Revenue Growth (YoY)	21.78%	50.39%	-26.26%	-9.59%	-3.99%	3.52%
Policy Benefits	173,307	163,147	186,084	176,230	200,915	247,254
Depreciation & Amortization	7,924	7,865	7,633	7,161	7,256	6,931
Selling, General & Administrative	26,308	26,036	19,377	22,291	17,618	20,787
Provision for Bad Debts	12,168	9,674	8,986	7,714	9,258	5,641
Other Operating Expenses	31,049	23,554	1,356	33,728	46,395	26,767
Reinsurance Income or Expense	-3,648	-3,429	-2,960	-2,608	-2,484	-2,113
Total Operating Expenses	303,466	280,346	266,234	288,777	320,210	346,324
Operating Income	148,825	145,113	16,676	94,868	104,141	95,648
Interest Expense	-103,170	-88,320	-32,701	-14,691	-20,425	-31,023
Currency Exchange Gain (Loss)	34,395	10,113	63,083	-18,136	-32,013	-12,811
Other Non Operating Income (Expenses)	-	-	-	-	-0	-
EBT Excluding Unusual Items	80,050	66,906	47,058	62,041	51,703	51,814
Asset Writedown	-29.25	-40.88	-9.1	3.45	-125.75	-5.4
Other Unusual Items	69.62	69.62	-	-	-	-
Pretax Income	80,091	66,934	47,049	62,044	51,577	51,809
Income Tax Expense	14,445	9,360	14,436	8,046	8,722	8,927
Earnings From Continuing Ops.	65,646	57,574	32,613	53,998	42,855	42,882
Minority Interest in Earnings	-1,170	-1,493	-1,334	206.75	-1.75	-2.47
Net Income	64,475	56,081	31,279	54,205	42,853	42,880
Preferred Dividends & Other Adjustments	2,140	1,070	1,070	1,070	989.33	749.99
Net Income to Common	62,335	55,011	30,209	53,135	41,864	42,130
Net Income Growth	80.11%	79.29%	-42.29%	26.49%	-0.06%	19.00%
Shares Outstanding (Basic)	19,497	19,497	19,497	19,497	19,497	19,497
Shares Outstanding (Diluted)	19,548	19,528	19,499	19,497	19,497	19,497
Shares Change (YoY)	0.20%	0.15%	0.01%	-	-	0.04%
EPS (Basic)	3.20	2.82	1.55	2.73	2.15	2.16
EPS (Diluted)	3.19	2.82	1.55	2.73	2.15	2.16
EPS Growth	73.76%	82.00%	-43.15%	26.92%	-0.63%	16.92%
Free Cash Flow	16,507	-19,475	92,456	-35,720	189,245	-50,400
Free Cash Flow Per Share	0.84	-1.00	4.74	-1.83	9.71	-2.59
Dividend Per Share	-	-	1.000	1.250	1.050	1.000
Dividend Growth	-	-	-20.00%	19.05%	5.00%	0%
Operating Margin	32.90%	34.11%	5.89%	24.73%	24.54%	21.64%
Profit Margin	13.78%	12.93%	10.68%	13.85%	9.87%	9.53%
Free Cash Flow Margin	3.65%	-4.58%	32.68%	-9.31%	44.60%	-11.40%
EBITDA	152,162	148,443	19,687	97,007	106,878	98,317
EBITDA Margin	33.64%	34.89%	6.96%	25.29%	25.19%	22.25%
D&A For EBITDA	3,337	3,330	3,011	2,138	2,736	2,669
EBIT	148,825	145,113	16,676	94,868	104,141	95,648
EBIT Margin	32.90%	34.11%	5.89%	24.73%	24.54%	21.64%
Effective Tax Rate	18.04%	13.98%	30.68%	12.97%	16.91%	17.23%

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