Warba Insurance and Reinsurance Company (K.S.C.P.) (KWSE: WINSRE)

WINSRE Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	46.35	45.83	19.6	18.04	16.06	14.91
Total Interest & Dividend Income	-0.03	-0.27	1.6	0.96	1.43	1.32
Gain (Loss) on Sale of Investments	1.37	0.71	-0.63	0.38	-0.52	0.34
Other Revenue	0.26	0.35	0.46	2.34	2.12	2.26
Total Revenue	47.95	46.62	21.02	21.71	19.09	18.83
Revenue Growth (YoY)	22.63%	121.77%	-3.18%	13.72%	1.41%	9.72%
Policy Benefits	36.86	36.89	14.26	11.48	9.05	9.72
Policy Acquisition & Underwriting Costs	-	-	-	2.23	2.05	1.95
Selling, General & Administrative	2.2	2.69	1.94	4.94	5.19	5.52
Provision for Bad Debts	-	-	-	0.7	0.5	0.5
Other Operating Expenses	0.17	0.1	0.11	0.08	0.04	0.03
Total Operating Expenses	39.23	39.67	16.31	19.43	16.83	17.72
Operating Income	8.72	6.94	4.71	2.28	2.26	1.11
Currency Exchange Gain (Loss)	-	-	-	0.09	-0.42	0.04
Other Non Operating Income (Expenses)	0.36	0.21	0.19	-0.02	-0.02	-0.01
EBT Excluding Unusual Items	9.07	7.15	4.9	2.35	1.83	1.14
Pretax Income	9.07	7.15	4.9	2.35	1.83	1.14
Income Tax Expense	0.06	0.04	0.04	0.03	0.02	0.01
Earnings From Continuing Ops.	9.01	7.12	4.86	2.32	1.81	1.13
Net Income to Company	9.01	7.12	4.86	2.32	1.81	1.13
Minority Interest in Earnings	-0.04	-0.02	0	0.02	0.01	0.04
Net Income	8.97	7.09	4.86	2.34	1.82	1.17
Net Income to Common	8.97	7.09	4.86	2.34	1.82	1.17
Net Income Growth	25.97%	45.84%	107.48%	28.59%	55.69%	49.76%
Shares Outstanding (Basic)	240	241	243	240	244	244
Shares Outstanding (Diluted)	240	241	243	240	244	244
Shares Change (YoY)	-0.87%	-0.76%	1.05%	-1.72%	0.19%	0.00%
EPS (Basic)	0.04	0.03	0.02	0.01	0.01	0.00
EPS (Diluted)	0.04	0.03	0.02	0.01	0.01	0.00
EPS Growth	27.08%	46.96%	105.33%	30.83%	55.40%	49.75%
Free Cash Flow	12.25	6.28	4.15	1.49	4.77	0.31
Free Cash Flow Per Share	0.05	0.03	0.02	0.01	0.02	0.00
Dividend Per Share	0.010	0.010	0.006	0.007	0.005	0.005
Dividend Growth	75.44%	75.44%	-19.72%	29.09%	10.00%	-
Operating Margin	18.18%	14.90%	22.42%	10.50%	11.85%	5.90%
Profit Margin	18.70%	15.21%	23.13%	10.79%	9.54%	6.22%
Free Cash Flow Margin	25.55%	13.48%	19.73%	6.88%	24.99%	1.64%
EBITDA	8.96	7.18	4.92	2.49	2.44	1.32
EBITDA Margin	18.69%	15.39%	23.42%	11.49%	12.80%	7.03%
D&A For EBITDA	0.24	0.23	0.21	0.21	0.18	0.21
EBIT	8.72	6.94	4.71	2.28	2.26	1.11
EBIT Margin	18.18%	14.90%	22.42%	10.50%	11.85%	5.90%
Effective Tax Rate	0.70%	0.53%	0.83%	1.28%	0.91%	0.84%

Source: S&P Capital IQ. Insurance template. Financial Sources.