Gulf Insurance Group K.S.C.P. (KWSE:GINS)

KWSE:GINS Income Statement

Financials in millions KWD. 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	694.95	784.54	740.95	632.5	292.17	195.69
Total Interest & Dividend Income	28.64	30.94	21.39	19.51	18.71	12.13
Gain (Loss) on Sale of Investments	7.14	8.66	-0.88	6.37	34.39	1.93
Other Revenue	3.74	3.74	2.32	2.39	28	21.55
Total Revenue	734.44	827.86	763.23	660.78	373.26	231.3
Revenue Growth (YoY)	-11.54%	8.47%	15.50%	77.03%	61.38%	5.04%
Policy Benefits	519.05	694.86	676.6	654.41	203.94	137.54
Policy Acquisition & Underwriting Costs	88.76	86.62	81.58	73.05	35.96	22.48
Amortization of Goodwill & Intangibles	-	-	-	-	1.44	-
Selling, General & Administrative	36.44	37.2	27.45	21.26	65.36	45.48
Other Operating Expenses	45.85	-37.01	-66.39	-136.95	0.52	0.31
Total Operating Expenses	690.11	781.67	719.24	611.78	307.21	205.82
Operating Income	44.34	46.19	43.99	48.99	66.05	25.48
Interest Expense	-5.39	-6.5	-7.29	-3.63	-2.62	-2.59
Currency Exchange Gain (Loss)	1.98	2.6	3.28	0.23	-	-
Other Non Operating Income (Expenses)	0.27	0.43	1.74	0.96	-0.29	-0.3
EBT Excluding Unusual Items	40.1	42.71	41.72	46.55	63.14	22.59
Impairment of Goodwill	-	-	-	-	-3.93	-
Gain (Loss) on Sale of Investments	0.3	0.3	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-8.87	-	-	-
Asset Writedown	0.16	0.16	1.58	-	-0.05	0.87
Other Unusual Items	-4.82	-4.03	3.4	-3.96	23.46	-
Pretax Income	35.73	39.14	37.82	42.6	82.62	23.46
Income Tax Expense	6.81	7.32	8.29	5.75	6.12	3.37
Earnings From Continuing Ops.	28.92	31.82	29.53	36.85	76.5	20.09
Minority Interest in Earnings	-7.21	-5.9	-8.32	-3.47	-3.9	-3.76
Net Income	21.71	25.92	21.21	33.38	72.6	16.34
Preferred Dividends & Other Adjustments	3.12	3.12	3.44	-	-	-
Net Income to Common	18.59	22.8	17.77	33.38	72.6	16.34
Net Income Growth	71.86%	22.24%	-36.46%	-54.03%	344.38%	22.39%
Shares Outstanding (Basic)	285	284	284	284	225	191
Shares Outstanding (Diluted)	285	284	284	284	225	191
Shares Change (YoY)	0.21%	0.21%	-	26.35%	17.32%	2.75%
EPS (Basic)	0.07	0.08	0.06	0.12	0.32	0.09
EPS (Diluted)	0.07	0.08	0.06	0.12	0.32	0.09
EPS Growth	142.77%	28.03%	-46.76%	-63.62%	278.77%	19.12%
Free Cash Flow	27.23	12.89	33.45	13.83	-12.55	44.99
Free Cash Flow Per Share	0.10	0.04	0.12	0.05	-0.06	0.23
Dividend Per Share	0.023	0.023	0.037	0.054	0.106	-
Dividend Growth	-37.84%	-37.84%	-31.48%	-49.06%	-	-
Operating Margin	6.04%	5.58%	5.76%	7.41%	17.70%	11.02%
Profit Margin	2.53%	2.75%	2.33%	5.05%	19.45%	7.06%
Free Cash Flow Margin	3.71%	1.56%	4.38%	2.09%	-3.36%	19.45%
EBITDA	51.72	53.16	50.87	56.09	69.62	28.54
EBITDA Margin	7.04%	6.42%	6.67%	8.49%	18.65%	12.34%
D&A For EBITDA	7.38	6.98	6.88	7.1	3.57	3.06
EBIT	44.34	46.19	43.99	48.99	66.05	25.48
EBIT Margin	6.04%	5.58%	5.76%	7.41%	17.70%	11.02%
Effective Tax Rate	19.06%	18.69%	21.92%	13.49%	7.40%	14.35%

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