Shaheen Insurance Company Income Statement

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

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Premiums & Annuity Revenue	1,325	921.36	443.68	300.87	180.19	228.75
Total Interest & Dividend Income	90.69	105.08	105.17	73.52	54.13	63.24
Gain (Loss) on Sale of Investments	3.95	0.04	14.98	10.44	0.07	0.09
Other Revenue	41.21	67.25	28.62	7.37	0.91	1.85
Total Revenue	1,461	1,094	592.45	392.2	235.31	293.93
Revenue Growth (YoY)	68.43%	84.61%	51.06%	66.67%	-19.94%	-19.93%
Policy Benefits	742.86	444.01	149.42	80.08	42.71	66.08
Policy Acquisition & Underwriting Costs	219.3	173.13	93.72	63.37	36.93	58.65
Selling, General & Administrative	299.9	261.89	195.21	201.77	143.49	151.3
Other Operating Expenses	-3.59	-16.93	-11.62	-2.23	4.19	1.16
Total Operating Expenses	1,258	862.1	426.72	342.99	227.31	277.19
Operating Income	202.57	231.63	165.72	49.21	8	16.74
Interest Expense	-4.57	-3.12	-2.32	-2.45	-2.16	-3.14
Currency Exchange Gain (Loss)	0.01	-	0.14	0.13	0.02	0.03
Other Non Operating Income (Expenses)	0	-0	-	-	-	-
EBT Excluding Unusual Items	198.02	228.51	163.54	46.88	5.85	13.64
Gain (Loss) on Sale of Assets	2.76	8.47	0.39	2.97	0.55	4.14
Asset Writedown	1.83	1.83	-	12.1	19.57	4.96
Other Unusual Items	-	-	-	15.83	-	23.24
Pretax Income	201.94	238.8	163.93	77.79	25.97	45.98
Income Tax Expense	62.84	73.54	47.63	24.41	-5.11	10.38
Net Income	139.09	165.27	116.3	53.38	31.08	35.6
Net Income to Common	139.09	165.27	116.3	53.38	31.08	35.6
Net Income Growth	-15.75%	42.10%	117.89%	71.75%	-12.70%	-40.67%
Shares Outstanding (Basic)	81	81	81	81	81	81
Shares Outstanding (Diluted)	81	81	81	81	81	81
Shares Change (YoY)	-0.52%	-	-	-	-	-
EPS (Basic)	1.73	2.05	1.44	0.66	0.39	0.44
EPS (Diluted)	1.73	2.05	1.44	0.66	0.39	0.44
EPS Growth	-15.31%	42.10%	117.89%	71.75%	-12.70%	-40.67%
Free Cash Flow	225.48	4.12	94.12	23.67	-18.91	-19.49
Free Cash Flow Per Share	2.80	0.05	1.17	0.29	-0.23	-0.24
Dividend Per Share	-	-	0.186	-	-	-
Operating Margin	13.87%	21.18%	27.97%	12.55%	3.40%	5.70%
Profit Margin	9.52%	15.11%	19.63%	13.61%	13.21%	12.11%
Free Cash Flow Margin	15.43%	0.38%	15.89%	6.04%	-8.04%	-6.63%
EBITDA	218.68	239.16	170.94	53.34	11.8	20.61
EBITDA Margin	14.97%	21.87%	28.85%	13.60%	5.02%	7.01%
D&A For EBITDA	16.1	7.53	5.21	4.14	3.81	3.87
EBIT	202.57	231.63	165.72	49.21	8	16.74
EBIT Margin	13.87%	21.18%	27.97%	12.55%	3.40%	5.70%
Effective Tax Rate	31.12%	30.79%	29.05%	31.39%	-	22.57%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.