Investor Presentation
ALDAGI
SEGMENT RESULTS | CONSOLIDATED
Income Statement by Segments | Sep YTD 2013
GEL '000
Health
Life
P&C
Healthcare
Total
Insurance premiums written, gross
89,146
2,174
28,804
119,871
SEGMENT CONTRIBUTIONS
Revenue from healthcare
67,298
41,745
Revenue, gross
78,072
2,906
27,555
67,298
150,025
Insurance premiums ceded to reinsurers
(38)
(526)
(6,006)
(6,570)
Gross Revenue
Insurance premiums revenue ceded to reinsurers
(50)
(510)
(5,834)
(6,394)
Net revenue
78,022
2,396
21,720
67,298
143,631
Line
Sep YTD '13
Sep YTD '12
Insurance claims expenses, gross
(62,885)
(1,246)
(7,786)
(62,538)
Health
44.4%
Life
1.7%
P&C
15.6%
36.5%
1.3%
22.4%
COGS
(43,903)
(27,730)
Insurance claims expenses, gross / COGS
(62,885)
(1,246)
(7,786)
(43,903)
(90,268)
Insurance claims expenses recovered by reinsurers
298
1,379
1,677
Net insurance claims expenses / COGS
(62,885)
(948)
(6,407)
(43,903)
(88,591)
HC
38.3%
39.8%
Net commission income / (expense)
(1,782)
(26)
(2,252)
(4,059)
Net underwriting profit / gross profit
13,355
1,423
13,061
23,395
50,981
Net income from pension benefit plan
114
114
Other operating income
Other operating income \ (loss)
230
7
167
1,229
1,633
230
122
167
1,229
1,748
Salaries and other employee benefits
(3,358)
(86)
(1,828)
(5,529)
(10,548)
Bonuses accrued
(1,089)
(199)
(1,292)
(716)
(3,295)
Selling, general administrative expenses
(2,038)
(54)
(1,285)
(2,369)
(5,746)
Net Profit
Operating taxes
(51)
(1)
(24)
(32)
(108)
Line
Health
Sep YTD '13 Sep YTD '12
Provisions expense for / (recovery of) bad debts
(281)
(26)
(498)
(659)
(1,465)
32.6%
42.5%
Other operating expenses
(292)
(8)
(69)
(618)
(986)
Life
5.9%
3.4%
Total recurring operating costs
(7,108)
(374)
(4,996)
(9,923)
(22,148)
P&C
38.6%
27.5%
EBITDA
6,478
1,170
8,233
18,484
34,365
HC
22.9%
26.6%
Foreign exchange gain/(loss)
(125)
(3)
(69)
(829)
(1,026)
Depreciation and amortization expenses
(321)
(3)
(493)
(37)
(854)
Net interest income / (expense)
1,120
140
697
(9,350)
(7,393)
Non-recurring income / (costs)
(48)
(9)
61
Pre-tax income
7,104
1,296
8,428
Income tax expense
Net profit
1,136
207
1,347
93
4,578
378
91
21,400
5,968
1,088
7,081
4,200
3,068
18,331
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