Income Statement ASR Nederland N.V.

Equities

ASRNL

NL0011872643

Multiline Insurance & Brokers

Market Closed - Euronext Amsterdam Other stock markets 16:55:00 21/05/2026 BST			After hours 17:10:21
67.12 ^EUR	+1.08%		67.20	+0.12%

05-20	ASR Nederland completes buyback	RE
05-15	Sadif Investment Analytics Downgrades ASR Nederland to Hold Rating	MT

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Published financial data: ASR NEDERLAND N.V.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	5.78B	5.92B	7.54B	9.6B	10.32B
Total Interest And Dividend Income	3.21B	-211M	-578M	620M	10.34B
Gain (Loss) on Sale of Investments, Total (Rev)	448M	-333M	1.05B	195M	-1.2B
Other Revenues, Total	283M	233M	4.75B	4.69B	-2.34B
Total Revenues	9.72B	5.61B	12.76B	15.11B	17.12B
Policy Benefits	6.82B	2.92B	6.4B	7.48B	8.22B
Policy Acquisition / Underwriting Costs, Total	526M	589M	-	-	-
Selling General & Admin Expenses, Total	725M	779M	1.44B	1.56B	1.57B
Provision For Loan Losses - (Ins. / REIT / Utility Templates)	-1M	17M	-	-	-
Salaries And Other Employee Benefits	20M	36M	142M	176M	175M
Other Operating Expenses	160M	57M	930M	818M	845M
Total Operating Expenses	8.25B	4.36B	8.92B	10.03B	10.81B
Operating Income	1.47B	1.25B	3.84B	5.08B	6.31B
Interest Expense, Total	-342M	-411M	-467M	-459M	-351M
Currency Exchange Gains (Loss)	-	-	-2M	-2M	11M
Other Non Operating Income (Expenses)	32M	12M	-2.03B	-3.38B	-5.47B
EBT, Excl. Unusual Items	1.16B	850M	1.35B	1.24B	503M
Restructuring Charges	-4M	-4M	-	-	-
Total Merger & Related Restructuring Charges	-300K	-	-	-	-
Impairment of Goodwill	-9M	-	-	-	-
Gain (Loss) on Sale of Assets	-26M	-33M	-7M	-	-
Asset Writedown	92M	116M	-104M	208M	193M
Other Unusual Items	-	-	153M	-	-
EBT, Incl. Unusual Items	1.21B	929M	1.39B	1.45B	696M
Income Tax Expense	270M	204M	303M	383M	131M
Earnings From Continuing Operations	939M	725M	1.09B	1.06B	565M
Earnings Of Discontinued Operations	-	-	-	-121M	-
Net Income to Company	939M	725M	1.09B	944M	565M
Minority Interest	3M	8M	-	2M	-17M
Net Income - (IS)	942M	733M	1.09B	946M	548M
Preferred Dividend and Other Adjustments	48M	48M	48M	63M	72M
Net Income to Common Incl Extra Items	894M	685M	1.04B	883M	476M
Net Income to Common Excl. Extra Items	894M	685M	1.04B	1B	476M
Per Share Items
Net EPS - Basic	6.56	5	5.8	4.19	2.31
Basic EPS - Continuing Operations	6.56	5	5.8	4.76	2.31
Basic Weighted Average Shares Outstanding	136M	137M	179M	211M	206M
Net EPS - Diluted	5.77	4.42	5.26	3.87	2.16
Diluted EPS - Continuing Operations	5.77	4.42	5.26	4.39	2.16
Diluted Weighted Average Shares Outstanding	158M	159M	200M	232M	228M
Normalized Basic EPS	5.33	3.94	4.71	3.69	1.44
Normalized Diluted EPS	4.6	3.4	4.2	3.34	1.3
Dividend Per Share	2.42	2.7	2.89	3.12	3.41
Payout Ratio	30.25	47.34	44.57	66.17	121.72
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	1.49B	1.29B	3.91B	5.18B	6.45B
EBITA	1.48B	1.26B	3.87B	5.13B	6.39B
EBIT	1.47B	1.25B	3.84B	5.08B	6.31B
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	10.04B	5.5B	-	-	-
Effective Tax Rate - (Ratio)	22.33	21.96	21.81	26.45	18.82
Total Current Taxes	162M	-47M	142M	-66M	172M
Total Deferred Taxes	108M	251M	161M	448M	-41M
Normalized Net Income	726M	539M	842M	777M	297M
Interest on Long-Term Debt	44M	51M	115M	115M	98M
Non-Cash Pension Expense	111M	33M	133M	174M	172M
Supplemental Operating Expense Items
Marketing Expenses	20M	22M	51M	19M	25M
Selling and Marketing Expenses	20M	22M	-	-	-
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	25.51B	16.83B	880M	-	-
Investment In Equity and Preferred Securities, Total	4.92B	4.14B	2.72B	3.29B	3.03B
Trading Asset Securities, Total	9.36B	10.01B	86.82B	86.52B	89.55B
Real Estate Owned	2.05B	664M	3.05B	3.36B	3.22B
Mortgage Loans	9.99B	10.37B	14.59B	2.62B	2.53B
Total Other Investments	146M	42M	5M	11M	12M
Total investments	51.98B	42.06B	108B	95.8B	98.34B
Cash And Equivalents	323M	2B	5.09B	1.53B	2.71B
Reinsurance Recoverable - (IS)	513M	420M	501M	485M	351M
Other Receivables - (Insurance Template)	5.5B	7.35B	1.34B	916M	805M
Separate Account Assets	11.57B	9.91B	30.35B	33.02B	33.3B
Gross Property Plant And Equipment	705M	859M	1.06B	1.02B	989M
Accumulated Depreciation	-149M	-180M	-329M	-341M	-311M
Net Property Plant And Equipment	556M	679M	732M	676M	678M
Goodwill	224M	234M	234M	233M	357M
Other Intangibles, Total	86M	89M	415M	359M	448M
Restricted Cash	1.98B	249M	2.82B	5B	4.72B
Other Current Assets, Total	201M	303M	494M	377M	328M
Deferred Tax Assets Long-Term (Collected)	-	119M	636M	101M	36M
Other Long-Term Assets, Total	2.1B	2.12B	76M	84M	69M
Total Assets	75.04B	65.54B	151B	139B	142B
Liabilities
Accounts Payable, Total	15M	12M	51M	371M	376M
Accrued Expenses, Total	254M	342M	228M	242M	269M
Insurance And Annuity Liabilities	31.28B	23.07B	63.49B	64.52B	63.61B
Unpaid Claims	6.74B	6.72B	-	-	-
Unearned Premiums	307M	310M	-	-	-
Reinsurance Payable - (BS)	44M	8M	-	-	-
Current Portion of Long-Term Debt	5.74B	2.26B	4.66B	5.21B	3.76B
Short-Term Borrowings	678M	5.49B	9.77B	8.33B	15B
Long-Term Debt	1.13B	2.13B	8.3B	5.46B	5.34B
Long-Term Leases	55M	62M	88M	74M	120M
Separate Account Liability	14.57B	13.01B	36.08B	38.37B	38.05B
Current Income Taxes Payable	129M	-	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	89M	36M	12.56B	649M	235M
Unearned Revenue Non Current	110M	112M	11M	11M	11M
Pension & Other Post Retirement Benefits	3.88B	2.61B	5.02B	4.84B	4.59B
Deferred Tax Liability Non-Current	69M	-	-	-	-
Other Non Current Liabilities	2.57B	2.61B	1.13B	691M	665M
Total Liabilities	67.66B	58.79B	141B	129B	132B
Common Stock, Total	22M	24M	34M	34M	33M
Additional Paid In Capital	956M	1.53B	4.07B	4.07B	4.03B
Retained Earnings	5.06B	5.33B	4.15B	4.53B	4.34B
Treasury Stock	-83M	-79M	-7M	-109M	-245M
Comprehensive Income and Other	1.41B	-85M	1.1B	1.26B	1.95B
Total Common Equity	7.37B	6.73B	9.34B	9.79B	10.11B
Minority Interest	18M	27M	35M	47M	13M
Total Equity	7.38B	6.75B	9.38B	9.83B	10.12B
Total Liabilities And Equity	75.04B	65.54B	151B	139B	142B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	136M	148M	211M	209M	205M
ECS Total Common Shares Outstanding	136M	148M	211M	209M	205M
Book Value / Share	54.24	45.47	44.24	46.84	49.43
Tangible Book Value	7.06B	6.4B	8.69B	9.19B	9.31B
Tangible Book Value Per Share	51.96	43.29	41.17	44.01	45.49
Total Debt	7.61B	9.95B	22.82B	19.08B	24.23B
Net Debt	7.28B	7.95B	17.73B	17.55B	21.52B
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.99B	2.72B	5.16B	4.97B	4.75B
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	18M	27M	35M	47M	13M
Equity Method Investments, Total	102M	79M	298M	457M	408M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	248M	222M	285M	290M	272M
Machinery, Total	388M	556M	647M	613M	550M
Full Time Employees	2.14K	2.19K	2.37K	4.29K	4.77K
Part Time Employees	1.73K	1.78K	1.79K	3.7K	4.95K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	942M	733M	1.09B	946M	548M
Depreciation, Depletion & Amortization	19M	37M	50M	63M	72M
Amortization of Goodwill and Intangible Assets - (CF)	11M	11M	30M	50M	78M
Total Depreciation, Depletion & Amortization	30M	48M	80M	113M	150M
(Gain) Loss on Sale of Investments - (CF)	-86M	138M	47M	540M	1.61B
Total Asset Writedown	8M	1M	26M	28M	20M
Amort. Of Deferred Policy Acq. Costs - (CF)	22M	23M	-	-	-
Provision for Credit Losses	1M	-17M	-	-	-
(Income) Loss On Equity Investments - (CF)	-7M	23M	-5M	-16M	18M
Change in Accounts Receivable	-2.63B	-726M	1.35B	616M	-1.44B
Reinsurance Recoverable - (CF)	66M	60M	65M	-48M	277M
Change in insurance Reserves / Liabilities	-545M	-7.92B	3.52B	-1.66B	1.15B
Change in Other Net Operating Assets (Collected)	2.26B	6.66B	-2.8B	-1.78B	-3.08B
Other Operating Activities	138M	-4M	215M	572M	186M
Cash from Operations	198M	-974M	3.58B	-699M	-569M
Capital Expenditure	-386M	-179M	-29M	-25M	-18M
Sale of Property, Plant, and Equipment	-	1M	-	1M	1M
Cash Acquisitions	-88M	-10M	2.26B	1M	-110M
Divestitures	-	-	-	-1.9B	97M
Purchase / Sale of Intangible Assets	-1M	-11M	-5M	-5M	-14M
Investment in Marketable and Equity Securities, Total	13M	-	-10M	-15M	-28M
Other Investing Activities, Total	-1M	-	-	-	-
Cash from Investing	-463M	-199M	2.21B	-1.94B	-72M
Long-Term Debt Issued, Total	113M	987M	1.16B	310M	509M
Total Debt Issued	113M	987M	1.16B	310M	509M
Long-Term Debt Repaid, Total	-16M	-13M	-753M	-599M	-927M
Total Debt Repaid	-16M	-13M	-753M	-599M	-927M
Issuance of Common Stock	-	586M	-	500M	500M
Repurchase of Common Stock	-79M	-71M	-5M	-605M	-236M
Common Dividends Paid	-285M	-347M	-484M	-626M	-667M
Common & Preferred Stock Dividends Paid	-285M	-347M	-484M	-626M	-667M
Other Financing Activities, Total	-25M	-30M	-53M	-56M	-32M
Cash from Financing	-292M	1.11B	-130M	-1.08B	-853M
Foreign Exchange Rate Adjustments	-	-	-	-	9M
Net Change in Cash	-557M	-61M	5.66B	-3.72B	-1.48B
Supplemental Items
Cash Interest Paid	370M	438M	2.27B	3.59B	5.7B
Cash Income Tax Paid (Refund)	131M	202M	90M	102M	32M
Net Debt Issued / Repaid	97M	974M	412M	-289M	-418M
Levered Free Cash Flow	5.1B	-272M	-31.2B	-10.73B	990M
Unlevered Free Cash Flow	5.31B	-15.38M	-30.91B	-10.44B	1.21B
Change In Net Working Capital	-4.73B	677M	33.36B	13.7B	2.85B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.2	1.11	2.26	2.19	2.81
Return on Total Capital	5.78	4.93	9.91	10.39	12.46
Return On Equity %	13.71	10.26	13.96	11.09	5.65
Return on Common Equity	13.07	9.72	13.4	10.5	4.77
Margin Analysis
Gross Profit Margin %	24.41	37.79	49.84	50.5	52
SG&A Margin	7.67	14.52	12.42	11.46	10.21
EBITDA Margin %	15.34	22.97	30.66	34.3	37.68
EBITA Margin %	15.21	22.45	30.36	33.96	37.31
EBIT Margin %	15.09	22.26	30.12	33.63	36.85
Income From Continuing Operations Margin %	9.67	12.92	8.51	7.05	3.3
Net Income Margin %	9.7	13.06	8.51	6.26	3.2
Net Avail. For Common Margin %	9.2	12.21	8.14	6.64	2.78
Normalized Net Income Margin	7.47	9.61	6.6	5.14	1.74
Levered Free Cash Flow Margin	52.47	-4.85	-244.54	-71.01	5.78
Unlevered Free Cash Flow Margin	54.67	-0.27	-242.26	-69.11	7.06
Asset Turnover
Asset Turnover	0.13	0.08	0.12	0.1	0.12
Fixed Assets Turnover	25.77	9.09	18.08	21.46	25.29
Receivables Turnover (Average Receivables)	137.16	73.7	421.64	229.69	236.16
Short Term Liquidity
Current Ratio	0.99	1.06	3.55	6.4	5.01
Quick Ratio	0.77	0.96	3.41	6.01	4.74
Operating Cash Flow to Current Liabilities	0.01	-0.06	0.13	-0.05	-0.03
Days Sales Outstanding (Average Receivables)	2.66	4.95	0.87	1.59	1.55
Average Days Payable Outstanding	333.27	707.26	1.51	22.63	16.59
Long Term Solvency
Total Debt/Equity	103.01	147.34	243.33	194.01	239.3
Total Debt / Total Capital	50.74	59.57	70.87	65.99	70.53
LT Debt/Equity	16.03	32.49	89.46	56.28	53.98
Long-Term Debt / Total Capital	7.9	13.14	26.06	19.14	15.91
Total Liabilities / Total Assets	90.16	89.7	93.78	92.91	92.88
EBIT / Interest Expense	4.29	3.04	8.23	11.07	17.98
EBITDA / Interest Expense	4.38	3.16	8.4	11.32	18.41
(EBITDA - Capex) / Interest Expense	3.25	2.72	8.34	11.26	18.36
Total Debt / EBITDA	5.08	7.67	5.82	3.67	3.75
Net Debt / EBITDA	4.87	6.13	4.52	3.38	3.33
Total Debt / (EBITDA - Capex)	6.85	8.9	5.86	3.69	3.76
Net Debt / (EBITDA - Capex)	6.56	7.11	4.55	3.39	3.34
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	28.01	-42.23	222.17	20.65	13.35
Gross Profit, 1 Yr. Growth %	16.63	-10.54	-1.2K	25.16	16.45
EBITDA, 1 Yr. Growth %	26.62	-13.84	-299.85	38.4	23.82
EBITA, 1 Yr. Growth %	27.24	-14.69	-294.23	38.79	24.18
EBIT, 1 Yr. Growth %	27.28	-14.8	-291.67	38.56	23.79
Earnings From Cont. Operations, 1 Yr. Growth %	43.14	-22.79	-163.25	6.08	-47.54
Net Income, 1 Yr. Growth %	43.38	-22.19	-163.55	-12.89	-42.8
Normalized Net Income, 1 Yr. Growth %	31.41	-25.67	-156.26	-10.11	-62.21
Diluted EPS Before Extra, 1 Yr. Growth %	47.98	-23.3	-141.03	-9.58	-51.32
Net Property, Plant and Equip., 1 Yr. Growth %	180.81	22.12	7.81	-7.65	0.3
Accounts Receivable, 1 Yr. Growth %	-40.24	116.33	6.25	323.53	43.06
Total Assets, 1 Yr. Growth %	-2.74	-12.66	143.57	-8.07	2.58
Common Equity, 1 Yr. Growth %	16.68	-8.69	51.9	4.75	2.75
Tangible Book Value, 1 Yr. Growth %	15.46	-9.25	49.16	5.76	0.63
Cash From Operations, 1 Yr. Growth %	-44.07	-591.92	-472.84	-119.43	-18.6
Capital Expenditures, 1 Yr. Growth %	2.66K	-53.63	-83.8	-13.79	-28
Levered Free Cash Flow, 1 Yr. Growth %	-246.72	-105.28	-24.16	-64.89	-109.25
Unlevered Free Cash Flow, 1 Yr. Growth %	-261.34	-100.29	-24.76	-65.64	-111.61
Dividend Per Share, 1 Yr. Growth %	18.63	11.57	7.04	7.96	9.29
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	9.89	-14.01	14.6	95.33	16.94
Gross Profit, 2 Yr. CAGR %	5.14	2.14	63.75	263.64	20.86
EBITDA, 2 Yr. CAGR %	3.69	4.65	61.69	62.74	31.26
EBITA, 2 Yr. CAGR %	3.88	4.18	61.93	60.41	31.46
EBIT, 2 Yr. CAGR %	3.76	4.12	61.91	59.19	31.19
Earnings From Cont. Operations, 2 Yr. CAGR %	-1.66	5.13	7.54	-21.24	-24.98
Net Income, 2 Yr. CAGR %	-1.56	5.63	7.37	-25.6	-28.96
Normalized Net Income, 2 Yr. CAGR %	3.59	-1.18	7.72	-27.94	-41.35
Diluted EPS Before Extra, 2 Yr. CAGR %	-1.42	6.53	-4.5	-41.5	-33.26
Net Property, Plant and Equip., 2 Yr. CAGR %	71.52	85.18	14.74	-0.22	-3.76
Accounts Receivable, 2 Yr. CAGR %	-35.01	13.7	-41.1	112.13	146.15
Total Assets, 2 Yr. CAGR %	3.74	-7.83	41.75	49.63	-2.9
Common Equity, 2 Yr. CAGR %	9.95	3.22	12.62	26.14	4.03
Tangible Book Value, 2 Yr. CAGR %	10.47	2.36	11	25.6	3.47
Cash From Operations, 2 Yr. CAGR %	-48.82	65.87	325.39	-14.71	-60.23
Capital Expenditures, 2 Yr. CAGR %	554.9	257.57	-72.59	-62.63	-21.22
Levered Free Cash Flow, 2 Yr. CAGR %	66.24	-72.01	146.02	-48.93	-82
Unlevered Free Cash Flow, 2 Yr. CAGR %	78.73	-93.17	139.95	-49.58	-80.05
Dividend Per Share, 2 Yr. CAGR %	12.86	15.04	9.28	7.5	8.62
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	18.56	-11.31	18.9	15.86	62.92
Gross Profit, 3 Yr. CAGR %	9.32	-0.37	46.24	47.64	148.97
EBITDA, 3 Yr. CAGR %	10.22	-2.39	49.22	51.32	48.83
EBITA, 3 Yr. CAGR %	10.3	-2.73	49.42	51.45	47.42
EBIT, 3 Yr. CAGR %	10.12	-2.85	49.42	51.33	46.55
Earnings From Cont. Operations, 3 Yr. CAGR %	9.92	-9.28	18.3	4.29	-30.96
Net Income, 3 Yr. CAGR %	12.08	-8.98	18.24	0.14	-31.55
Normalized Net Income, 3 Yr. CAGR %	7.19	-7.27	15.09	2.31	-41.64
Diluted EPS Before Extra, 3 Yr. CAGR %	10.58	-9.33	10.51	-8.72	-44.76
Net Property, Plant and Equip., 3 Yr. CAGR %	47.86	53.16	54.63	6.73	-0.05
Accounts Receivable, 3 Yr. CAGR %	-26.81	-2.96	-40.82	13.69	86.03
Total Assets, 3 Yr. CAGR %	8.34	-2.04	25.02	22.69	31.93
Common Equity, 3 Yr. CAGR %	10.37	3.35	13.96	9.93	18.02
Tangible Book Value, 3 Yr. CAGR %	11.33	3.46	12.47	9.22	16.88
Cash From Operations, 3 Yr. CAGR %	-35.53	8.81	116.31	52.27	-16.03
Capital Expenditures, 3 Yr. CAGR %	325.8	170.94	27.47	-59.84	-53.5
Levered Free Cash Flow, 3 Yr. CAGR %	231.74	-47.15	107.85	27.68	-71.13
Unlevered Free Cash Flow, 3 Yr. CAGR %	162.02	-79.01	110.96	24.83	-69.12
Dividend Per Share, 3 Yr. CAGR %	11.62	12.43	12.31	8.84	8.09
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.92	-1.71	16.96	13.43	17.68
Gross Profit, 5 Yr. CAGR %	9.23	2.3	28.5	28.89	34.37
EBITDA, 5 Yr. CAGR %	10.39	2.6	28.58	30.19	40.53
EBITA, 5 Yr. CAGR %	10.44	2.33	28.6	30.24	40.64
EBIT, 5 Yr. CAGR %	10.6	2.19	28.47	30.12	40.52
Earnings From Cont. Operations, 5 Yr. CAGR %	7.5	-4.34	8.96	1.87	-2.94
Net Income, 5 Yr. CAGR %	7.41	-4.15	10.17	-0.54	-3.56
Normalized Net Income, 5 Yr. CAGR %	8.54	-6.03	7.4	2.82	-11.64
Diluted EPS Before Extra, 5 Yr. CAGR %	6.86	-5.59	4.28	-5.87	-11.13
Net Property, Plant and Equip., 5 Yr. CAGR %	26.59	31.76	33.6	29.03	27.91
Accounts Receivable, 5 Yr. CAGR %	-16.68	1.17	-32.9	-9.1	4.67
Total Assets, 5 Yr. CAGR %	5.67	3.42	20.64	14.73	13
Common Equity, 5 Yr. CAGR %	10.45	4.36	11.26	9.94	9.88
Tangible Book Value, 5 Yr. CAGR %	10.61	4.27	11.2	9.72	8.78
Cash From Operations, 5 Yr. CAGR %	-29.5	19.42	37.13	-1.56	9.96
Capital Expenditures, 5 Yr. CAGR %	80.76	97.22	42.13	22.67	5.15
Levered Free Cash Flow, 5 Yr. CAGR %	31.42	20.17	195.01	42.21	-22.21
Unlevered Free Cash Flow, 5 Yr. CAGR %	35.03	-13.84	153.5	44.41	-18.15
Dividend Per Share, 5 Yr. CAGR %	13.76	10.62	10.68	10.43	10.82