Islamic Arab Insurance Co. (Salama) PJSC (DFM:SALAMA)

DFM:SALAMA 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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	1,033	1,046	1,111	924.14	651.97	707.09
Total Interest & Dividend Income	-111.96	-52.49	-169.29	253.1	42.6	44.2
Gain (Loss) on Sale of Investments	106.39	106.39	236.05	-234.51	-30.36	70.16
Other Revenue	41.39	2.14	1.81	1.72	58.47	62.86
Total Revenue	1,069	1,102	1,180	944.45	722.68	884.92
Revenue Growth (YoY)	-8.79%	-6.54%	24.90%	30.69%	-18.33%	2.75%
Policy Benefits	829.01	821.17	1,067	843.02	223.73	250.94
Policy Acquisition & Underwriting Costs	-	-	-	-	305.31	330.68
Amortization of Goodwill & Intangibles	-	-	-	-	0.85	0.88
Depreciation & Amortization	2.14	2.14	1.42	0.89	6.53	7.15
Selling, General & Administrative	5.98	5.98	8.72	5.66	41.63	25.72
Provision for Bad Debts	-20.16	2.9	83.29	-	0.05	6.44
Other Operating Expenses	185.14	188.69	59.54	26.24	21.5	16.9
Total Operating Expenses	1,030	1,049	1,243	895.12	665.65	709.03
Operating Income	38.64	53.32	-63.77	49.33	57.04	175.89
Interest Expense	-19.94	-19.94	-14.85	-14.25	-3.35	-3.05
Currency Exchange Gain (Loss)	-	-	-	-	-0.44	-0.12
Other Non Operating Income (Expenses)	-3.28	-3.28	-	-	-	-
EBT Excluding Unusual Items	15.41	30.1	-78.62	35.08	53.25	172.72
Impairment of Goodwill	-	-	-49.01	-	-	-
Gain (Loss) on Sale of Assets	2.02	2.02	-	-	-	-
Asset Writedown	4.5	4.5	3.6	9.17	4.22	-3.48
Pretax Income	21.93	36.62	-124.03	44.25	57.47	169.24
Income Tax Expense	9.63	12.03	15.3	8.81	9.3	12.34
Earnings From Continuing Ops.	12.3	24.59	-139.33	35.44	48.17	156.9
Earnings From Discontinued Ops.	-	-	-	-	-	0.15
Net Income to Company	12.3	24.59	-139.33	35.44	48.17	157.05
Minority Interest in Earnings	-4.32	-11.5	-19.06	-16.54	-8.12	-7.68
Net Income	7.98	13.09	-158.39	18.9	40.05	149.37
Net Income to Common	7.98	13.09	-158.39	18.9	40.05	149.37
Net Income Growth	-	-	-	-52.83%	-73.19%	171.39%
Shares Outstanding (Basic)	947	923	982	923	923	923
Shares Outstanding (Diluted)	947	923	982	923	923	923
Shares Change (YoY)	3.98%	-6.07%	6.46%	-	-	-
EPS (Basic)	0.01	0.01	-0.16	0.02	0.04	0.16
EPS (Diluted)	0.01	0.01	-0.16	0.02	0.04	0.16
EPS Growth	-	-	-	-52.83%	-73.19%	171.39%
Free Cash Flow	-116.16	-80.99	101.86	-624.18	321.26	91.85
Free Cash Flow Per Share	-0.12	-0.09	0.10	-0.68	0.35	0.10
Dividend Per Share	-	-	-	-	0.026	0.145
Dividend Growth	-	-	-	-	-82.19%	-
Operating Margin	3.61%	4.84%	-5.41%	5.22%	7.89%	19.88%
Profit Margin	0.75%	1.19%	-13.43%	2.00%	5.54%	16.88%
Free Cash Flow Margin	-10.87%	-7.35%	8.63%	-66.09%	44.45%	10.38%
EBITDA	42.07	56.39	-61.02	52.57	59.97	179.33
EBITDA Margin	3.94%	5.12%	-5.17%	5.57%	8.30%	20.27%
D&A For EBITDA	3.43	3.07	2.76	3.25	2.94	3.44
EBIT	38.64	53.32	-63.77	49.33	57.04	175.89
EBIT Margin	3.61%	4.84%	-5.41%	5.22%	7.89%	19.88%
Effective Tax Rate	43.91%	32.85%	-	19.91%	16.18%	7.29%

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.