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

KWSE:GINS Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	784.54	740.95	632.5	292.17	195.69
Total Interest & Dividend Income	30.94	21.39	19.51	18.71	12.13
Gain (Loss) on Sale of Investments	8.66	-0.88	6.37	34.39	1.93
Other Revenue	3.74	2.32	2.39	28	21.55
Total Revenue	827.86	763.23	660.78	373.26	231.3
Revenue Growth (YoY)	8.47%	15.50%	77.03%	61.38%	5.04%
Policy Benefits	694.86	676.6	654.41	203.94	137.54
Policy Acquisition & Underwriting Costs	86.62	81.58	73.05	35.96	22.48
Amortization of Goodwill & Intangibles	-	-	-	1.44	-
Selling, General & Administrative	37.2	27.45	21.26	65.36	45.48
Other Operating Expenses	-37.01	-66.39	-136.95	0.52	0.31
Total Operating Expenses	781.67	719.24	611.78	307.21	205.82
Operating Income	46.19	43.99	48.99	66.05	25.48
Interest Expense	-6.5	-7.29	-3.63	-2.62	-2.59
Currency Exchange Gain (Loss)	2.6	3.28	0.23	-	-
Other Non Operating Income (Expenses)	0.43	1.74	0.96	-0.29	-0.3
EBT Excluding Unusual Items	42.71	41.72	46.55	63.14	22.59
Impairment of Goodwill	-	-	-	-3.93	-
Gain (Loss) on Sale of Investments	0.3	-	-	-	-
Gain (Loss) on Sale of Assets	-	-8.87	-	-	-
Asset Writedown	0.16	1.58	-	-0.05	0.87
Other Unusual Items	-4.03	3.4	-3.96	23.46	-
Pretax Income	39.14	37.82	42.6	82.62	23.46
Income Tax Expense	7.32	8.29	5.75	6.12	3.37
Earnings From Continuing Ops.	31.82	29.53	36.85	76.5	20.09
Minority Interest in Earnings	-5.9	-8.32	-3.47	-3.9	-3.76
Net Income	25.92	21.21	33.38	72.6	16.34
Preferred Dividends & Other Adjustments	3.12	3.44	-	-	-
Net Income to Common	22.8	17.77	33.38	72.6	16.34
Net Income Growth	22.24%	-36.46%	-54.03%	344.38%	22.39%
Shares Outstanding (Basic)	284	284	284	225	191
Shares Outstanding (Diluted)	284	284	284	225	191
Shares Change (YoY)	0.21%	-	26.35%	17.32%	2.75%
EPS (Basic)	0.08	0.06	0.12	0.32	0.09
EPS (Diluted)	0.08	0.06	0.12	0.32	0.09
EPS Growth	28.03%	-46.76%	-63.62%	278.77%	19.12%
Free Cash Flow	12.89	33.45	13.83	-12.55	44.99
Free Cash Flow Per Share	0.04	0.12	0.05	-0.06	0.23
Dividend Per Share	0.023	0.037	0.054	0.106	-
Dividend Growth	-37.84%	-31.48%	-49.06%	-	-
Operating Margin	5.58%	5.76%	7.41%	17.70%	11.02%
Profit Margin	2.75%	2.33%	5.05%	19.45%	7.06%
Free Cash Flow Margin	1.56%	4.38%	2.09%	-3.36%	19.45%
EBITDA	53.16	50.87	56.09	69.62	28.54
EBITDA Margin	6.42%	6.67%	8.49%	18.65%	12.34%
D&A For EBITDA	6.98	6.88	7.1	3.57	3.06
EBIT	46.19	43.99	48.99	66.05	25.48
EBIT Margin	5.58%	5.76%	7.41%	17.70%	11.02%
Effective Tax Rate	18.69%	21.92%	13.49%	7.40%	14.35%

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