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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	749.66	784.54	740.95	632.5	292.17	195.69
Total Interest & Dividend Income	31.51	30.94	21.39	19.51	18.71	12.13
Gain (Loss) on Sale of Investments	3.98	8.66	-0.88	6.37	34.39	1.93
Other Revenue	1.65	3.74	2.32	2.39	28	21.55
Total Revenue	786.76	827.86	763.23	660.78	373.26	231.3
Revenue Growth (YoY)	-2.58%	8.47%	15.50%	77.03%	61.38%	5.04%
Policy Benefits	607.03	694.86	676.6	654.41	203.94	137.54
Policy Acquisition & Underwriting Costs	86.13	86.62	81.58	73.05	35.96	22.48
Amortization of Goodwill & Intangibles	-	-	-	-	1.44	-
Selling, General & Administrative	34.32	37.2	27.45	21.26	65.36	45.48
Other Operating Expenses	13.45	-37.01	-66.39	-136.95	0.52	0.31
Total Operating Expenses	740.93	781.67	719.24	611.78	307.21	205.82
Operating Income	45.83	46.19	43.99	48.99	66.05	25.48
Interest Expense	-5.93	-6.5	-7.29	-3.63	-2.62	-2.59
Currency Exchange Gain (Loss)	0.82	2.6	3.28	0.23	-	-
Other Non Operating Income (Expenses)	0.86	0.43	1.74	0.96	-0.29	-0.3
EBT Excluding Unusual Items	41.58	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	-4.03	-4.03	3.4	-3.96	23.46	-
Pretax Income	38.01	39.14	37.82	42.6	82.62	23.46
Income Tax Expense	8.25	7.32	8.29	5.75	6.12	3.37
Earnings From Continuing Ops.	29.76	31.82	29.53	36.85	76.5	20.09
Minority Interest in Earnings	-8.2	-5.9	-8.32	-3.47	-3.9	-3.76
Net Income	21.56	25.92	21.21	33.38	72.6	16.34
Preferred Dividends & Other Adjustments	3.12	3.12	3.44	-	-	-
Net Income to Common	18.43	22.8	17.77	33.38	72.6	16.34
Net Income Growth	4.15%	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)	0.29%	0.21%	-	26.35%	17.32%	2.75%
EPS (Basic)	0.06	0.08	0.06	0.12	0.32	0.09
EPS (Diluted)	0.06	0.08	0.06	0.12	0.32	0.09
EPS Growth	6.48%	28.03%	-46.76%	-63.62%	278.77%	19.12%
Free Cash Flow	11.63	12.89	33.45	13.83	-12.55	44.99
Free Cash Flow Per Share	0.04	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	5.83%	5.58%	5.76%	7.41%	17.70%	11.02%
Profit Margin	2.34%	2.75%	2.33%	5.05%	19.45%	7.06%
Free Cash Flow Margin	1.48%	1.56%	4.38%	2.09%	-3.36%	19.45%
EBITDA	53.29	53.16	50.87	56.09	69.62	28.54
EBITDA Margin	6.77%	6.42%	6.67%	8.49%	18.65%	12.34%
D&A For EBITDA	7.46	6.98	6.88	7.1	3.57	3.06
EBIT	45.83	46.19	43.99	48.99	66.05	25.48
EBIT Margin	5.83%	5.58%	5.76%	7.41%	17.70%	11.02%
Effective Tax Rate	21.70%	18.69%	21.92%	13.49%	7.40%	14.35%

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