Saudi Reinsurance Company (TADAWUL: 8200)

Saudi Reinsurance Company Income Statement

Financials in millions SAR. 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	957.38	627.19	697	854.73	647.12	642.53
Total Interest & Dividend Income	50.82	25.87	11.2	16.16	24.57	22.67
Gain (Loss) on Sale of Investments	374.37	-	-	12.12	0.8	17.7
Other Revenue	-10.77	-	-	38.33	24.77	23.29
Total Revenue	1,372	653.06	708.2	921.35	697.25	706.19
Revenue Growth (YoY)	81.77%	-7.79%	-23.13%	32.14%	-1.27%	9.53%
Policy Benefits	798.04	507.42	613.41	565.31	391.98	417.07
Policy Acquisition & Underwriting Costs	-	-	-	235.67	197.44	175.21
Depreciation & Amortization	2.71	2.71	2.82	-	-	-
Selling, General & Administrative	24.47	24.47	23.59	60.26	51.84	53.29
Provision for Bad Debts	-12.56	-9.5	6.14	0.15	-0.65	-0.52
Other Operating Expenses	-44.2	-44.06	-39.59	4.37	4.68	4.71
Total Operating Expenses	826.65	539.22	649.39	865.76	645.29	649.75
Operating Income	545.16	113.83	58.81	55.59	51.96	56.44
Earnings From Equity Investments	-1.85	40.07	33.1	-	-	-
Currency Exchange Gain (Loss)	11.18	-	-	-3.38	2.02	1.88
Other Non Operating Income (Expenses)	7.09	4.66	-0.59	1.11	1.14	1
Pretax Income	540.03	158.56	91.32	53.31	55.12	59.32
Income Tax Expense	45.88	34.13	15.27	15.01	9.21	13.87
Net Income	494.15	124.43	76.05	38.31	45.92	45.44
Net Income to Common	494.15	124.43	76.05	38.31	45.92	45.44
Net Income Growth	336.06%	63.61%	98.52%	-16.57%	1.04%	5449.57%
Shares Outstanding (Basic)	89	89	89	89	89	89
Shares Outstanding (Diluted)	89	89	89	89	89	89
Shares Change (YoY)	-	-	-	-	-0.18%	0.18%
EPS (Basic)	5.55	1.40	0.85	0.43	0.52	0.51
EPS (Diluted)	5.55	1.40	0.85	0.43	0.52	0.51
EPS Growth	336.06%	63.61%	98.52%	-16.57%	1.23%	5439.72%
Free Cash Flow	223.28	-9.36	70.89	405.53	12.61	-23.87
Free Cash Flow Per Share	2.51	-0.11	0.80	4.55	0.14	-0.27
Operating Margin	39.74%	17.43%	8.30%	6.03%	7.45%	7.99%
Profit Margin	36.02%	19.05%	10.74%	4.16%	6.59%	6.44%
Free Cash Flow Margin	16.28%	-1.43%	10.01%	44.02%	1.81%	-3.38%
EBITDA	548.31	116.32	61.41	57.96	54.08	58.02
EBITDA Margin	39.97%	17.81%	8.67%	6.29%	7.76%	8.22%
D&A For EBITDA	3.15	2.48	2.6	2.37	2.12	1.58
EBIT	545.16	113.83	58.81	55.59	51.96	56.44
EBIT Margin	39.74%	17.43%	8.30%	6.03%	7.45%	7.99%
Effective Tax Rate	8.50%	21.53%	16.72%	28.15%	16.70%	23.39%

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