DFM:WATANIA Income Statement

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

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	25.9	869.59	954.36	820.18	448.9
Total Interest & Dividend Income	59.26	22.38	20.81	10.96	22.7
Gain (Loss) on Sale of Investments	-	8.65	12.74	1.52	3.25
Other Revenue	-	-	-	-	23.02
Total Revenue	85.16	900.62	987.91	832.66	497.86
Revenue Growth (YoY)	-90.55%	-8.84%	18.64%	67.25%	14.75%
Policy Benefits	15.66	875.66	954.76	830.17	296.4
Policy Acquisition & Underwriting Costs	-	-	-	-	83.01
Amortization of Goodwill & Intangibles	5.42	6.3	6.3	16.18	-
Selling, General & Administrative	23.16	18.68	31.78	50.93	70.02
Other Operating Expenses	-	-	-	-	10.51
Reinsurance Income or Expense	-	-	-	-	-11.63
Total Operating Expenses	44.25	900.64	992.84	897.27	471.57
Operating Income	40.91	-0.03	-4.94	-64.61	26.29
Interest Expense	-5.93	-4.68	-6.07	-4.22	-5.16
Other Non Operating Income (Expenses)	2.43	13.56	21.45	13.68	-
EBT Excluding Unusual Items	37.4	8.86	10.45	-55.15	21.14
Merger & Restructuring Charges	-	-	-	-	-3.17
Asset Writedown	-	5.26	2.59	1.3	3.61
Other Unusual Items	-	-	-	0.72	-
Pretax Income	37.4	14.12	13.04	-53.13	21.58
Income Tax Expense	3.04	0.84	-0.24	-	-
Net Income	34.36	13.28	13.28	-53.13	21.58
Net Income to Common	34.36	13.28	13.28	-53.13	21.58
Net Income Growth	158.74%	0.04%	-	-	-4.70%
Shares Outstanding (Basic)	260	260	260	260	150
Shares Outstanding (Diluted)	260	260	260	260	150
Shares Change (YoY)	0.06%	-	-	73.44%	-
EPS (Basic)	0.13	0.05	0.05	-0.20	0.14
EPS (Diluted)	0.13	0.05	0.05	-0.20	0.14
EPS Growth	158.59%	0.04%	-	-	-4.70%
Free Cash Flow	55.07	-55	-71.29	2.55	-43.28
Free Cash Flow Per Share	0.21	-0.21	-0.27	0.01	-0.29
Operating Margin	48.04%	-0.00%	-0.50%	-7.76%	5.28%
Profit Margin	40.35%	1.47%	1.34%	-6.38%	4.33%
Free Cash Flow Margin	64.66%	-6.11%	-7.22%	0.31%	-8.69%
EBITDA	51.97	8.14	3.4	-53.62	32.05
EBITDA Margin	61.03%	0.90%	0.34%	-6.44%	6.44%
D&A For EBITDA	11.06	8.17	8.33	10.99	5.76
EBIT	40.91	-0.03	-4.94	-64.61	26.29
EBIT Margin	48.04%	-0.00%	-0.50%	-7.76%	5.28%
Effective Tax Rate	8.14%	5.94%	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.