Union Insurance Company P.J.S.C. (ADX:UNION)

Accolade Income Statement

Financials in millions AED. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	249.49	252.7	247.3	304.16	299.67	307.86
Total Interest & Dividend Income	16.07	13.84	18.13	4.16	3.49	7.13
Gain (Loss) on Sale of Investments	-1.82	0.72	1.25	-2.12	1.94	8.31
Other Revenue	-	-	-	-	92.01	77.65
Total Revenue	263.74	267.26	266.68	306.2	397.12	400.96
Revenue Growth (YoY)	-3.06%	0.22%	-12.91%	-22.89%	-0.96%	-18.35%
Policy Benefits	171.23	163.76	184.08	203.46	151.88	130.36
Policy Acquisition & Underwriting Costs	49.32	49.04	58.76	81.91	91.06	105.9
Selling, General & Administrative	-	-	-	-	93.88	98.39
Provision for Bad Debts	-	-	-	-	10.06	23.27
Other Operating Expenses	14.05	26.63	26.32	18.32	37.01	46.73
Total Operating Expenses	234.6	239.42	269.16	303.69	383.9	404.66
Operating Income	29.14	27.84	-2.48	2.51	13.22	-3.7
Interest Expense	-	-	-	-	-	-0.23
EBT Excluding Unusual Items	29.14	27.84	-2.48	2.51	13.22	-3.94
Gain (Loss) on Sale of Assets	14.22	14.22	-	-	-	-
Pretax Income	43.35	42.06	-2.48	2.51	13.22	-3.94
Income Tax Expense	3.77	3.75	-	-	-	-
Net Income	39.58	38.31	-2.48	2.51	13.22	-3.94
Net Income to Common	39.58	38.31	-2.48	2.51	13.22	-3.94
Net Income Growth	-	-	-	-81.04%	-	-
Shares Outstanding (Basic)	230	230	230	230	230	230
Shares Outstanding (Diluted)	230	230	230	230	230	230
EPS (Basic)	0.17	0.17	-0.01	0.01	0.06	-0.02
EPS (Diluted)	0.17	0.17	-0.01	0.01	0.06	-0.02
EPS Growth	-	-	-	-81.04%	-	-
Free Cash Flow	-0.01	-25.82	38.97	1.37	-6.33	6.56
Free Cash Flow Per Share	-	-0.11	0.17	0.01	-0.03	0.03
Operating Margin	11.05%	10.42%	-0.93%	0.82%	3.33%	-0.92%
Profit Margin	15.01%	14.33%	-0.93%	0.82%	3.33%	-0.98%
Free Cash Flow Margin	-0.00%	-9.66%	14.61%	0.45%	-1.59%	1.64%
EBITDA	30.03	28.86	2.65	7.88	18.2	1.77
EBITDA Margin	11.39%	10.80%	1.00%	2.57%	4.58%	0.44%
D&A For EBITDA	0.89	1.02	5.13	5.37	4.98	5.47
EBIT	29.14	27.84	-2.48	2.51	13.22	-3.7
EBIT Margin	11.05%	10.42%	-0.93%	0.82%	3.33%	-0.92%
Effective Tax Rate	8.69%	8.92%	-	-	-	-

Updated Mar 20, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.