Investor Presentation
ALDAGI
AUDITED INCOME STATEMENT
Income Statement | Consolidated
GEL '000
FY 2012
(Audited)
FY 2011
(Audited)
FY 2010
(Audited)
Insurance premiums written, gross
126,906
61,847
61,946
Change in unearned premium provision, gross
(17,094)
216
(906)
Revenue from healthcare
49,449
9,257
Revenue, gross
159,261
71,320
Insurance premiums revenue ceded to reinsurers
(11,871)
(10,452)
2,095
63,135
(11,129)
Net revenue
147,390
60,868
52,006
Insurance claims expenses, gross
(58,022)
(31,605)
(31,073)
COGS
(29,319)
(5,642)
(1,569)
Insurance claims expenses, gross / COGS
(87,341)
(37,247)
(32,642)
Net insurance claims expenses / COGS
(85,259)
(35,406)
(29,325)
Net commission income / (expense)
Net underwriting profit / gross profit
Net income from pension benefit plan
Other operating income
Other operating income
(5,538)
(3,367)
(3,831)
56,593
22,095
18,850
87
71
51
2,661
3,320
920
2,748
3,391
972
Salaries and other employee benefits
(13,048)
(7,271)
(5,679)
Bonuses accrued
(4,223)
(2,329)
(1,891)
Selling, general administrative expenses
(8,736)
(5,635)
(4,532)
Operating taxes
(71)
(253)
(168)
Provisions expense for / (recovery of) bad debts
(3,929)
(763)
(591)
Other operating expenses
(1,141)
(626)
(427)
Total recurring operating costs
(31,148)
(16,877)
(13,288)
EBITDA
28,193
8,609
6,534
Foreign exchange gain/(loss)
Depreciation and amortization expenses
Net interest income / (expense)
Non-recurring income / (costs)
Pre-tax income
Income tax expense
Net profit
(703)
(793)
371
(4,124)
(977)
(663)
(4,596)
(432)
(749)
34
864
192
18,804
7,271
5,685
2,524
769
662
16,280
6,502
5,023
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