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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	28.91	26.82	26.72	14.47	15.07	14.97
Total Interest & Dividend Income	3.65	2.79	2.53	2.13	1.88	1.94
Gain (Loss) on Sale of Investments	0.17	-0.09	-	-0.26	-	-
Other Revenue	2.76	2.75	2.38	1.48	1.05	1.23
Total Revenue	35.49	32.27	31.63	17.82	17.99	18.14
Revenue Growth (YoY)	-0.70%	2.03%	77.47%	-0.96%	-0.80%	0.15%
Policy Benefits	19.86	17.58	18.06	8.43	9.19	9.56
Policy Acquisition & Underwriting Costs	3.97	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	1.42	2.8	2.65	1.92	1.95	1.57
Total Operating Expenses	29.71	27.06	27.07	14.51	15.21	15.24
Operating Income	5.78	5.21	4.56	3.31	2.78	2.9
EBT Excluding Unusual Items	5.78	5.21	4.56	3.31	2.78	2.9
Other Unusual Items	-	-	-	-	0.3	-
Pretax Income	5.78	5.21	4.56	3.31	3.08	2.9
Net Income	5.78	5.21	4.56	3.31	3.08	2.9
Preferred Dividends & Other Adjustments	0.81	0.87	0.83	0.42	0.39	0.29
Net Income to Common	4.97	4.34	3.73	2.89	2.69	2.62
Net Income Growth	7.78%	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)	0.00%	0.74%	10.30%	-	-	-
EPS (Basic)	0.04	0.03	0.03	0.02	0.02	0.02
EPS (Diluted)	0.04	0.03	0.03	0.02	0.02	0.02
EPS Growth	16.84%	15.43%	17.35%	7.45%	2.64%	13.45%
Free Cash Flow	4.68	1.73	3.12	4.15	2.79	1.01
Free Cash Flow Per Share	0.04	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	16.28%	16.15%	14.42%	18.56%	15.46%	16.00%
Profit Margin	14.01%	13.46%	11.81%	16.19%	14.92%	14.42%
Free Cash Flow Margin	13.18%	5.36%	9.86%	23.28%	15.52%	5.54%
EBITDA	6.07	5.4	4.7	3.58	3.03	3.06
EBITDA Margin	17.12%	16.74%	14.86%	20.10%	16.85%	16.85%
D&A For EBITDA	0.3	0.19	0.14	0.27	0.25	0.15
EBIT	5.78	5.21	4.56	3.31	2.78	2.9
EBIT Margin	16.28%	16.15%	14.42%	18.56%	15.46%	16.00%

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