Dubai National Insurance & Reinsurance Co. (P.S.C.) (DFM:DNIR)

DFM:DNIR Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	265.12	222.04	152.44	101.37	117.72
Total Interest & Dividend Income	50.62	28.51	27.25	28.06	27.19
Other Revenue	-	-	-	23.62	21.03
Total Revenue	315.74	250.55	179.69	153.04	165.94
Revenue Growth (YoY)	26.02%	39.44%	17.42%	-7.78%	-3.73%
Policy Benefits	267.41	206.28	142.2	36.91	43.7
Policy Acquisition & Underwriting Costs	-	-	-	32.09	41.46
Selling, General & Administrative	1.59	0.74	0.88	-	-
Other Operating Expenses	6.92	0.53	0.09	10.08	9.24
Total Operating Expenses	276.25	208.93	144.55	94.95	110.87
Operating Income	39.49	41.62	35.14	58.09	55.07
Other Non Operating Income (Expenses)	-	0.06	-	-	-
EBT Excluding Unusual Items	39.49	41.68	35.14	58.09	55.07
Gain (Loss) on Sale of Assets	-	-	-	0.16	-
Asset Writedown	16.93	5.44	8.59	0.58	-
Pretax Income	56.42	47.12	43.73	58.84	55.07
Income Tax Expense	2.88	-	-	-	-
Net Income	53.54	47.12	43.73	58.84	55.07
Net Income to Common	53.54	47.12	43.73	58.84	55.07
Net Income Growth	13.63%	7.75%	-25.67%	6.83%	-5.19%
Shares Outstanding (Basic)	116	116	116	116	116
Shares Outstanding (Diluted)	116	116	116	116	116
EPS (Basic)	0.46	0.41	0.38	0.51	0.48
EPS (Diluted)	0.46	0.41	0.38	0.51	0.48
EPS Growth	13.63%	7.75%	-25.67%	6.83%	-5.19%
Free Cash Flow	1.59	-23.21	56.11	32.51	-8.52
Free Cash Flow Per Share	0.01	-0.20	0.49	0.28	-0.07
Dividend Per Share	0.150	0.100	0.100	0.300	0.300
Dividend Growth	50.00%	-	-66.67%	-	-14.29%
Operating Margin	12.51%	16.61%	19.55%	37.96%	33.19%
Profit Margin	16.96%	18.81%	24.34%	38.45%	33.19%
Free Cash Flow Margin	0.50%	-9.26%	31.23%	21.25%	-5.13%
EBITDA	40.7	42.29	35.38	58.37	57.25
EBITDA Margin	12.89%	16.88%	19.69%	38.14%	34.50%
D&A For EBITDA	1.21	0.67	0.24	0.29	2.17
EBIT	39.49	41.62	35.14	58.09	55.07
EBIT Margin	12.51%	16.61%	19.55%	37.96%	33.19%
Effective Tax Rate	5.10%	-	-	-	-

Updated Mar 21, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.