Stock Analysis
Syarikat Takaful Malaysia Keluarga Berhad Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Syarikat Takaful Malaysia Keluarga Berhad (KLSE:TAKAFUL) Full Year 2023 Results
Key Financial Results
- Revenue: RM2.65b (up 13% from FY 2022).
- Net income: RM346.9m (up 23% from FY 2022).
- Profit margin: 13% (up from 12% in FY 2022). The increase in margin was driven by higher revenue.
- EPS: RM0.41 (up from RM0.34 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Syarikat Takaful Malaysia Keluarga Berhad Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 4.5%.
The primary driver behind last 12 months revenue was the Family Takaful segment contributing a total revenue of RM1.64b (62% of total revenue). Notably, cost of sales worth RM2.12b amounted to 80% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling RM160.7m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how TAKAFUL's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Insurance industry in Malaysia.
Performance of the Malaysian Insurance industry.
The company's shares are up 2.3% from a week ago.
Risk Analysis
You should learn about the 1 warning sign we've spotted with Syarikat Takaful Malaysia Keluarga Berhad.
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About KLSE:TAKAFUL
Syarikat Takaful Malaysia Keluarga Berhad
Manages family and general takaful businesses in Malaysia and Indonesia.
Solid track record with excellent balance sheet.