DFM:WATANIA Balance Sheet

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
Investments in Debt Securities	-	5.4	21.92	34.74	48.35	23.02
Investments in Equity & Preferred Securities	-	-	-	5.2	70.62	5.94
Other Investments	1	161.86	136.71	291.15	216.99	270.31
Total Investments	682.44	807.67	707.9	826.41	792.97	840.79
Cash & Equivalents	421.77	128.11	123.11	78.35	103.06	33.84
Reinsurance Recoverable	258.43	247.36	298.26	103.52	137.23	329.72
Other Receivables	36.3	47.84	52.94	36	87.2	203.99
Deferred Policy Acquisition Cost	-	-	-	-	-	22.15
Property, Plant & Equipment	10.13	10.71	14.68	15.13	15.66	15.93
Other Intangible Assets	33.75	34.93	41.41	83.07	90.55	89.14
Other Current Assets	-	-	-	-	-	47.51
Other Long-Term Assets	-	132.18	79.37	40.45	57.78	-
Total Assets	1,443	1,409	1,318	1,183	1,284	1,583
Accounts Payable	34.57	10.28	7.03	33.64	70.86	-
Accrued Expenses	-	-	-	-	-	31.55
Insurance & Annuity Liabilities	925.62	888.82	915.72	722.41	763.13	580.74
Unpaid Claims	-	-	-	-	-	257.58
Unearned Premiums	-	-	-	-	-	229.24
Reinsurance Payable	95.29	79.97	51.83	53.17	35.08	140.23
Current Portion of Long-Term Debt	-	33.33	-	12.94	20.7	13.8
Current Portion of Leases	4.43	4.38	6.07	7.56	8.9	9.1
Current Income Taxes Payable	2.69	2.42	0.02	-	-	-
Long-Term Debt	100	66.67	48.88	61.81	74.75	95.45
Long-Term Deferred Tax Liabilities	4.2	5.06	4.5	4.25	-	-
Other Current Liabilities	-	38.45	34.35	37.66	74.96	43.42
Other Long-Term Liabilities	-	-	-	-	-	22.18
Total Liabilities	1,185	1,147	1,088	953.33	1,066	1,431
Common Stock	260.16	260.16	260.16	260.16	260.16	150
Retained Earnings	3.76	8.73	-25.63	-30.76	-40.04	2.24
Treasury Stock	-8.4	-9.99	-7.55	-	-	-
Comprehensive Income & Other	2.59	3.11	2.28	0.2	-1.66	-
Shareholders' Equity	258.1	262.02	229.26	229.59	218.46	152.24
Total Liabilities & Equity	1,443	1,409	1,318	1,183	1,284	1,583
Filing Date Shares Outstanding	261.84	250.17	252.6	260.16	260.16	150
Total Common Shares Outstanding	261.84	250.17	252.6	260.16	260.16	150
Total Debt	104.43	104.38	54.94	82.31	104.35	118.35
Net Cash (Debt)	317.34	23.73	68.17	-3.96	-1.29	-84.51
Net Cash Growth	5.83%	-65.19%	-	-	-	-
Net Cash Per Share	1.21	0.09	0.26	-0.02	-0.00	-0.56
Book Value Per Share	0.99	1.05	0.91	0.88	0.84	1.01
Tangible Book Value	224.35	227.09	187.85	146.53	127.91	63.1
Tangible Book Value Per Share	0.86	0.91	0.74	0.56	0.49	0.42
Buildings	-	-	-	-	-	10.23
Machinery	-	19.38	19.37	18.8	17.64	16.1
Construction In Progress	-	1.5	2.4	0.91	3.43	2.26
Leasehold Improvements	-	7.57	7.77	6.98	1.8	1.8

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