Safety Insurance Group (SAFT) FY2014 results: revenue $779 million, up 4.5% on the year
Safety Insurance Group Inc. (SAFT) reported revenue of $779 million for fiscal 2014, the year ended 31 December 2014, up 4.5% on the year before. Net income was $59 million, down 3.3%, and diluted earnings per share $3.91. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$779 million
+4.5% on the year
FY2009FY2014
Operating margin
10.7%
11.8% a year earlier
FY2009FY2014
Net income
$59 million
-3.3% on the year
FY2009FY2014
Diluted EPS
$3.91
-1.8% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
779
745
704
+4.5%
Operating income
83.3
87.7
81.4
-5.0%
Operating margin
10.7%
11.8%
11.6%
Interest expense
0.1
0.1
0.1
+1.1%
Pre-tax income
83.3
87.7
81.4
-5.0%
Income tax
24.0
26.3
23.4
-9.0%
Effective tax rate
28.8%
30.0%
28.7%
Net income
59.4
61.4
58.1
-3.3%
Net margin
7.6%
8.2%
8.3%
Diluted EPS
$3.91
$3.98
$3.80
-1.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
97.6
111
104
-12.0%
Capital expenditure
1.8
4.9
4.2
-64.2%
Free cash flow
95.8
106
100
-9.6%
Free cash flow margin
12.3%
14.2%
14.2%
Cash from investing
n/a
n/a
-74.4
Cash from financing
n/a
n/a
-32.4
Depreciation and amortisation
4.1
4.0
4.5
+4.0%
Buybacks
23.5
4.8
0.0
+389.0%
Dividends paid
39.3
36.9
33.6
+6.6%
Dividend per share
$2.60
$2.40
$2.20
+8.3%
Diluted shares, weighted
15m
15m
15m
-1.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
708
695
694
+1.9%
Other liabilities
967
930
880
+4.0%
Total liabilities and equity
1,676
1,625
1,574
+3.1%
Fixed assets
8.3
10.7
9.1
-22.3%
Investments
0.0
0.0
0.0
Cash and equivalents
42.5
55.9
35.4
-24.0%
Other assets
1,625
1,559
1,530
+4.2%
Total assets
1,676
1,625
1,574
+3.1%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.