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

KWSE:WINSRE 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	25.12	24.9	26.98	19.6	18.04	16.06
Total Interest & Dividend Income	1.11	1.46	-0.27	1.6	0.96	1.43
Gain (Loss) on Sale of Investments	0.85	0.63	0.71	-0.63	0.38	-0.52
Other Revenue	0.32	0.31	0.35	0.46	2.34	2.12
Total Revenue	27.4	27.31	27.77	21.02	21.71	19.09
Revenue Growth (YoY)	-5.92%	-1.65%	32.09%	-3.18%	13.72%	1.41%
Policy Benefits	20.3	19.66	18.03	14.26	11.48	9.05
Policy Acquisition & Underwriting Costs	-	-	-	-	2.23	2.05
Selling, General & Administrative	2.1	2.13	2.69	1.94	4.94	5.19
Provision for Bad Debts	-	-	-	-	0.7	0.5
Other Operating Expenses	0.14	0.15	0.1	0.11	0.08	0.04
Total Operating Expenses	22.54	21.94	20.82	16.31	19.43	16.83
Operating Income	4.85	5.36	6.94	4.71	2.28	2.26
Currency Exchange Gain (Loss)	-	-	-	-	0.09	-0.42
Other Non Operating Income (Expenses)	0.44	0.36	0.21	0.19	-0.02	-0.02
EBT Excluding Unusual Items	5.29	5.72	7.15	4.9	2.35	1.83
Pretax Income	5.29	5.72	7.15	4.9	2.35	1.83
Income Tax Expense	0.05	0.05	0.04	0.04	0.03	0.02
Earnings From Continuing Ops.	5.24	5.67	7.12	4.86	2.32	1.81
Minority Interest in Earnings	-0.05	-0.05	-0.02	0	0.02	0.01
Net Income	5.19	5.62	7.09	4.86	2.34	1.82
Net Income to Common	5.19	5.62	7.09	4.86	2.34	1.82
Net Income Growth	-41.05%	-20.73%	45.84%	107.48%	28.59%	55.69%
Shares Outstanding (Basic)	243	241	241	243	240	244
Shares Outstanding (Diluted)	243	241	241	243	240	244
Shares Change (YoY)	0.88%	0.28%	-0.85%	1.05%	-1.72%	0.19%
EPS (Basic)	0.02	0.02	0.03	0.02	0.01	0.01
EPS (Diluted)	0.02	0.02	0.03	0.02	0.01	0.01
EPS Growth	-41.57%	-20.95%	47.10%	105.33%	30.83%	55.40%
Free Cash Flow	13.09	10.71	6.28	4.15	1.49	4.77
Free Cash Flow Per Share	0.05	0.04	0.03	0.02	0.01	0.02
Dividend Per Share	0.012	0.012	0.010	0.006	0.007	0.005
Dividend Growth	20.00%	20.00%	75.44%	-19.72%	29.09%	10.00%
Operating Margin	17.72%	19.64%	25.01%	22.42%	10.50%	11.85%
Profit Margin	18.96%	20.58%	25.54%	23.13%	10.79%	9.54%
Free Cash Flow Margin	47.79%	39.24%	22.63%	19.73%	6.88%	24.99%
EBITDA	5.1	5.61	7.18	4.92	2.49	2.44
EBITDA Margin	18.63%	20.56%	25.85%	23.42%	11.49%	12.80%
D&A For EBITDA	0.25	0.25	0.23	0.21	0.21	0.18
EBIT	4.85	5.36	6.94	4.71	2.28	2.26
EBIT Margin	17.72%	19.64%	25.01%	22.42%	10.50%	11.85%
Effective Tax Rate	0.90%	0.94%	0.53%	0.83%	1.28%	0.91%

Updated Feb 20, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.