Safety Insurance Group (SAFT) FY2013 results: revenue $745 million, up 5.9% on the year
Safety Insurance Group Inc. (SAFT) reported revenue of $745 million for fiscal 2013, the year ended 31 December 2013, up 5.9% on the year before. Net income was $61 million, up 5.7%, and diluted earnings per share $3.98. The figures are the company's own, from the 10-K it filed with the SEC on 17 March 2014.
Revenue
$745 million
+5.9% on the year
FY2009FY2013
Operating margin
11.8%
11.6% a year earlier
FY2009FY2013
Net income
$61 million
+5.7% on the year
FY2009FY2013
Diluted EPS
$3.98
+4.7% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
745
704
660
+5.9%
Operating income
87.7
81.4
14.3
+7.7%
Operating margin
11.8%
11.6%
2.2%
Interest expense
0.1
0.1
0.1
+1.1%
Pre-tax income
87.7
81.4
14.3
+7.7%
Income tax
26.3
23.4
0.6
+12.8%
Effective tax rate
30.0%
28.7%
4.0%
Net income
61.4
58.1
13.7
+5.7%
Net margin
8.2%
8.3%
2.1%
Diluted EPS
$3.98
$3.80
$0.90
+4.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
111
104
39.5
+6.2%
Capital expenditure
4.9
4.2
4.4
+17.0%
Free cash flow
106
100
35.1
+5.8%
Free cash flow margin
14.2%
14.2%
5.3%
Cash from investing
n/a
-74.4
-12.4
Cash from financing
n/a
-32.4
-29.5
Depreciation and amortisation
4.0
4.5
3.3
-10.7%
Buybacks
4.8
0.0
0.0
Dividends paid
36.9
33.6
30.3
+9.6%
Dividend per share
$2.40
$2.20
$2.00
+9.1%
Diluted shares, weighted
15m
15m
15m
+0.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
695
694
656
+0.1%
Other liabilities
930
880
816
+5.7%
Total liabilities and equity
1,625
1,574
1,473
+3.2%
Fixed assets
10.7
9.1
n/a
+17.3%
Investments
0.0
0.0
n/a
Securities held for sale or to maturity
n/a
n/a
1,087
Cash and equivalents
55.9
35.4
37.9
+57.9%
Other assets
1,559
1,530
348
+1.9%
Total assets
1,625
1,574
1,473
+3.2%
10-K for the year ended 31 December 2013, filed 17 March 2014: the filing.