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	-7.83	954.36	820.18	448.9
Total Interest & Dividend Income	25.34	22.38	20.81	10.96	22.7
Gain (Loss) on Sale of Investments	30.27	31.51	12.74	1.52	3.25
Other Revenue	-	-	-	-	23.02
Total Revenue	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	21.11	954.76	830.17	296.4
Policy Acquisition & Underwriting Costs	-	-	-	-	83.01
Amortization of Goodwill & Intangibles	4.14	5.31	6.3	16.18	-
Selling, General & Administrative	23.16	19.88	31.78	50.93	70.02
Other Operating Expenses	-	-	-	-	10.51
Reinsurance Income or Expense	-	-	-	-	-11.63
Total Operating Expenses	42.97	46.3	992.84	897.27	471.57
Operating Income	38.54	-0.24	-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	10.04	21.45	13.68	-
EBT Excluding Unusual Items	35.03	5.12	10.45	-55.15	21.14
Merger & Restructuring Charges	-	-	-	-	-3.17
Asset Writedown	2.37	5.26	2.59	1.3	3.61
Other Unusual Items	-	-	-	0.72	-
Pretax Income	37.4	10.38	13.04	-53.13	21.58
Income Tax Expense	3.04	0.61	-0.24	-	-
Net Income	34.36	9.77	13.28	-53.13	21.58
Net Income to Common	34.36	9.77	13.28	-53.13	21.58
Net Income Growth	251.65%	-26.40%	-	-	-4.70%
Shares Outstanding (Basic)	260	260	260	260	150
Shares Outstanding (Diluted)	260	260	260	260	150
Shares Change (YoY)	-	-	-	73.44%	-
EPS (Basic)	0.13	0.04	0.05	-0.20	0.14
EPS (Diluted)	0.13	0.04	0.05	-0.20	0.14
EPS Growth	251.65%	-26.40%	-	-	-4.70%
Free Cash Flow	55.07	-55.67	-71.29	2.55	-43.28
Free Cash Flow Per Share	0.21	-0.21	-0.27	0.01	-0.29
Operating Margin	47.28%	-0.51%	-0.50%	-7.76%	5.28%
Profit Margin	42.16%	21.21%	1.34%	-6.38%	4.33%
Free Cash Flow Margin	67.56%	-120.85%	-7.22%	0.31%	-8.69%
EBITDA	44.12	6.94	3.4	-53.62	32.05
EBITDA Margin	54.13%	15.07%	0.34%	-6.44%	6.44%
D&A For EBITDA	5.58	7.18	8.33	10.99	5.76
EBIT	38.54	-0.24	-4.94	-64.61	26.29
EBIT Margin	47.28%	-0.51%	-0.50%	-7.76%	5.28%
Effective Tax Rate	8.14%	5.88%	-	-	-

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