Solidarity Bahrain B.S.C. (BAX: SOLID)

Solidarity Bahrain B.S.C. Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	26.71	26.82	26.72	14.47	15.07	14.97
Total Interest & Dividend Income	3.73	2.79	2.53	2.13	1.88	1.94
Gain (Loss) on Sale of Investments	-0.09	-0.09	-	-0.26	-	-
Other Revenue	2.96	2.75	2.38	1.48	1.05	1.23
Total Revenue	33.31	32.27	31.63	17.82	17.99	18.14
Revenue Growth (YoY)	-2.93%	2.03%	77.47%	-0.96%	-0.80%	0.15%
Policy Benefits	17.87	17.58	18.06	8.43	9.19	9.56
Policy Acquisition & Underwriting Costs	2.58	2.9	2.82	1.56	1.45	1.4
Provision for Bad Debts	0.06	0.06	0.11	0.04	0.16	0.36
Other Operating Expenses	2.86	2.8	2.65	1.92	1.95	1.57
Total Operating Expenses	27.59	27.06	27.07	14.51	15.21	15.24
Operating Income	5.72	5.21	4.56	3.31	2.78	2.9
EBT Excluding Unusual Items	5.72	5.21	4.56	3.31	2.78	2.9
Other Unusual Items	-	-	-	-	0.3	-
Pretax Income	5.72	5.21	4.56	3.31	3.08	2.9
Net Income	5.72	5.21	4.56	3.31	3.08	2.9
Preferred Dividends & Other Adjustments	1.07	0.87	0.83	0.42	0.39	0.29
Net Income to Common	4.65	4.34	3.73	2.89	2.69	2.62
Net Income Growth	12.81%	14.23%	37.88%	7.44%	6.06%	12.69%
Shares Outstanding (Basic)	133	133	132	120	120	120
Shares Outstanding (Diluted)	133	133	132	120	120	120
Shares Change (YoY)	-0.01%	0.74%	10.30%	-	-	-
EPS (Basic)	0.03	0.03	0.03	0.02	0.02	0.02
EPS (Diluted)	0.03	0.03	0.03	0.02	0.02	0.02
EPS Growth	14.93%	15.43%	17.35%	7.45%	2.64%	13.45%
Free Cash Flow	0.6	1.73	3.12	4.15	2.79	1.01
Free Cash Flow Per Share	0.00	0.01	0.02	0.03	0.02	0.01
Dividend Per Share	0.025	0.025	0.020	0.018	0.018	0.015
Dividend Growth	25.00%	25.00%	11.11%	2.86%	16.67%	20.00%
Operating Margin	17.16%	16.15%	14.42%	18.56%	15.46%	16.00%
Profit Margin	13.96%	13.46%	11.81%	16.19%	14.92%	14.42%
Free Cash Flow Margin	1.79%	5.36%	9.86%	23.28%	15.52%	5.54%
EBITDA	5.98	5.4	4.7	3.58	3.03	3.06
EBITDA Margin	17.95%	16.74%	14.86%	20.10%	16.85%	16.85%
D&A For EBITDA	0.26	0.19	0.14	0.27	0.25	0.15
EBIT	5.72	5.21	4.56	3.31	2.78	2.9
EBIT Margin	17.16%	16.15%	14.42%	18.56%	15.46%	16.00%

Source: S&P Capital IQ. Insurance template. Financial Sources.