Hiscox Ltd (LSE:HSX) Annual Report 2021



The latest annual report of Hiscox Ltd (HSX) was published on 31 Dec 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - HSX Annual Results

Amounts in USD

Total Revenue
3.02B
Gross Profit
574.4M
EBIT
235.2M
Net Tangible Assets
2.23B
Net Income
189.5M
Capital Expenditures
-5.4M

HSX Income Statement 2021 Annual Report

As per the latest Income Statement of HSX, the Net revenue increased by $22.80M (1%) compared to the previous period. The operating income in 2021 increased by $444.70M (212%). The net income as per the annual report was 189.5M which increased by $483.20M (165%) compared to previous year.

Income Statement Report (2021/2020)

2021 2020
Total Revenue 3.02B 3B
Gross Profit 574.4M 74.3M
Operating Income 235.2M -209.5M
Income Before Tax 190.8M -268.5M
Net Income 189.5M -293.7M

Balance Sheet - HSX 2021 Annual Report

Read further: HSX Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Hiscox Ltd showed the company reduced the cash on balance sheet by $-317.40M (-23%). The Net tangible assets of HSX on the balance sheet were at 2.23B which is $171.20M (8%) more than previous annual report. The total stockholder equity also increased by $185.40M (8%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

2021 2020
Cash 1.08B 1.4B
Total Assets 13.85B 13.86B
Long Term Debt 743.7M 943.3M
Total Liabilities 11.31B 11.5B
Total Shareholder Equity 2.54B 2.35B
Net Tangible Assets 2.23B 2.05B

Cash Flow Statement - HSX 2021 Annual Report

The 2021 annual cash flow statement of Hiscox Ltd showed that the net income increased by $483.20M (165%) compared to previous reporting period. Also the capital expenditure of HSX increased by $3.60M (40%).

As of 2021, the total cash from investing activities was -36.6M and total cash from financing activities was -246.2M.

Cash Flow Statement Report (2021/2020)

2021 2020
Net Income 189.5M -293.7M
Capital Expenditures -5.4M -9M
Dividends Paid -39.2M -39.2M
Total Cash From From Investing Activities -36.6M -52.7M
Total Cash From From Financing Activities -246.2M 592.8M

Hiscox Ltd Annual Report History

Income Statement

Income Statement history of Hiscox Ltd (LSE:HSX)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Total Revenue 3.02B 3B 2.91B 2.66B
Cost Of Revenue 2.45B 2.93B 2.52B 2.11B
Gross Profit 574.4M 74.3M 390.7M 550.7M
Research Development - - - -
Selling General Administrative 622.4M 572.8M 592M 607.5M
Non Recurring - - - -
Other Operating Expenses -283.2M -289M -283.9M -240.3M
Total Operating Expenses 2.79B 3.21B 2.83B 2.48B
Operating Income 235.2M -209.5M 82.6M 183.5M
Total Other Income Expense Net -44.4M -59M -29.5M -47.9M
Ebit 235.2M -209.5M 82.6M 183.5M
Interest Expense -50.8M -44M -36.6M -34.6M
Income Before Tax 190.8M -268.5M 53.1M 135.6M
Income Tax Expense 1.3M 25.2M 4.2M 17.7M
Minority Interest 1.1M 1.1M 1.1M 1.1M
Net Income From Continuing Ops 189.5M -293.7M 48.9M 117.9M
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 189.5M -293.7M 48.9M 117.9M
Net Income Applicable To Common Shares 189.5M -293.7M 48.9M 117.9M

Balance Sheet Statement

Balance Sheet Statement history of Hiscox Ltd (LSE:HSX)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Cash 1.08B 1.4B 907.6M 1.04B
Net Receivables 990.1M 972.6M 972.4M 830.9M
Other Current Assets 2.81B 2.58B 2.29B 1.94B
Total Current Assets 6.53B 7.17B 6.18B 5.55B
Long Term Investments 4.42B 3.92B 3.55B 3.33B
Property Plant Equipment 90.4M 109.4M 128.4M 61.4M
Good Will 8.3M 8.8M 8.3M 8.4M
Intangible Assets 741.7M 729.3M 725.8M 652.1M
Other Assets 2.06B 1.92B 1.95B 1.24B
Deferred Long Term Asset Charges 67.3M 70.7M 76.9M 60.7M
Total Assets 13.85B 13.86B 12.55B 10.84B
Accounts Payable 4.5B 4.2B 3.3B 2.82B
Short Long Term Debt 2.8M 2.9M 2.6M 2.8M
Other Current Liab 1.84B 1.85B 1.88B 1.75B
Long Term Debt 743.7M 943.3M 725.6M 697.1M
Other Liab 3.96B 4.25B 4.2B 3.1B
Minority Interest 1.1M 1.1M 1.1M 1.1M
Total Current Liabilities 6.57B 6.27B 5.38B 4.78B
Total Liab 11.31B 11.5B 10.36B 8.58B
Common Stock 38.7M 38.7M 34.1M 34M
Retained Earnings 2.09B 1.88B 2.23B 2.31B
Treasury Stock -289.3M -270.8M -326.3M -325.3M
Capital Surplus 700.8M 700.5M 254.5M 241.6M
Other Stockholder Equity -289.3M -270.8M -326.3M -325.3M
Total Stockholder Equity 2.54B 2.35B 2.19B 2.26B
Net Tangible Assets 2.23B 2.05B 1.91B 2.05B

Cash Flow Statement

Cash Flow Statement history of Hiscox Ltd (LSE:HSX)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Net Income 189.5M -293.7M 48.9M 117.9M
Depreciation 22.7M 26.1M 25.4M 13.5M
Change To Netincome 69.7M -69M -76.4M 23M
Change To Liabilities - - - -
Change To Operating Activities -300.6M 192.2M 23.9M 126.3M
Total Cash From Operating Activities 16.6M -117.1M 39.5M 300.4M
Capital Expenditures -5.4M -9M -6.4M -7.8M
Total Cashflows From Investing Activities -36.6M -52.7M -97.3M -59.6M
Dividends Paid -39.2M -39.2M -111.6M -105.7M
Net Borrowings -207.1M 166.1M -15.5M 380.3M
Total Cash From Financing Activities -246.2M 592.8M -123.5M 202.2M
Effect Of Exchange Rate -10.3M 38.3M 8.4M -22M
Change In Cash -276.5M 461.3M -172.9M 421M
Issuance Of Stock 100k 450.6M 3.6M 4.1M