DFM:WATANIA Income Statement

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

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	29.01	25.9	-7.83	954.36	820.18	448.9
Total Interest & Dividend Income	17.76	25.34	22.38	20.81	10.96	22.7
Gain (Loss) on Sale of Investments	30.27	30.27	31.51	12.74	1.52	3.25
Other Revenue	-	-	-	-	-	23.02
Total Revenue	77.03	81.51	46.06	987.91	832.66	497.86
Revenue Growth (YoY)	-	76.94%	-95.34%	18.64%	67.25%	14.75%
Policy Benefits	15.66	15.66	21.11	954.76	830.17	296.4
Policy Acquisition & Underwriting Costs	-	-	-	-	-	83.01
Amortization of Goodwill & Intangibles	4.21	4.14	5.31	6.3	16.18	-
Selling, General & Administrative	22.1	23.16	19.88	31.78	50.93	70.02
Other Operating Expenses	-	-	-	-	-	10.51
Reinsurance Income or Expense	-	-	-	-	-	-11.63
Total Operating Expenses	41.97	42.97	46.3	992.84	897.27	471.57
Operating Income	35.06	38.54	-0.24	-4.94	-64.61	26.29
Interest Expense	-6.16	-5.93	-4.68	-6.07	-4.22	-5.16
Other Non Operating Income (Expenses)	2.14	2.43	10.04	21.45	13.68	-
EBT Excluding Unusual Items	31.04	35.03	5.12	10.45	-55.15	21.14
Merger & Restructuring Charges	-	-	-	-	-	-3.17
Asset Writedown	2.37	2.37	5.26	2.59	1.3	3.61
Other Unusual Items	-	-	-	-	0.72	-
Pretax Income	34	37.4	10.38	13.04	-53.13	21.58
Income Tax Expense	2.57	3.04	0.61	-0.24	-	-
Net Income	31.43	34.36	9.77	13.28	-53.13	21.58
Net Income to Common	31.43	34.36	9.77	13.28	-53.13	21.58
Net Income Growth	1224.61%	251.65%	-26.40%	-	-	-4.70%
Shares Outstanding (Basic)	262	260	260	260	260	150
Shares Outstanding (Diluted)	262	260	260	260	260	150
Shares Change (YoY)	0.97%	-	-	-	73.44%	-
EPS (Basic)	0.12	0.13	0.04	0.05	-0.20	0.14
EPS (Diluted)	0.12	0.13	0.04	0.05	-0.20	0.14
EPS Growth	1211.96%	251.65%	-26.40%	-	-	-4.70%
Free Cash Flow	61.67	55.07	-55.67	-71.29	2.55	-43.28
Free Cash Flow Per Share	0.24	0.21	-0.21	-0.27	0.01	-0.29
Operating Margin	45.51%	47.28%	-0.51%	-0.50%	-7.76%	5.28%
Profit Margin	40.81%	42.16%	21.21%	1.34%	-6.38%	4.33%
Free Cash Flow Margin	80.06%	67.56%	-120.85%	-7.22%	0.31%	-8.69%
EBITDA	40.59	44.12	6.94	3.4	-53.62	32.05
EBITDA Margin	52.69%	54.13%	15.07%	0.34%	-6.44%	6.44%
D&A For EBITDA	5.53	5.58	7.18	8.33	10.99	5.76
EBIT	35.06	38.54	-0.24	-4.94	-64.61	26.29
EBIT Margin	45.51%	47.28%	-0.51%	-0.50%	-7.76%	5.28%
Effective Tax Rate	7.55%	8.14%	5.88%	-	-	-

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