Aljazira Takaful Taawuni Co. announces its Annual Financial Results for the Period Ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Insurance Revenues | 339,672 | 301,954 | 12.49 | ||
| Result of Insurance Services | -65,769 | 66,721 | - | ||
| Net Profit (Loss) of The Insurance Results | 36,032 | 57,161 | -36.96 | ||
| Net Profit (Loss) of The Investment Results | 201,051 | 348,515 | -42.31 | ||
| Net Insurance Financing Expenses | -165,817 | -318,147 | -47.88 | ||
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 37,203 | 44,254 | -15.93 | ||
| Total Comprehensive Income | 55,200 | 47,558 | 16.07 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 975,434 | 940,360 | 3.73 | ||
| Profit (Loss) per Share | 0.56 | 0.67 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in revenues during the current year compared to the last year is | Insurance revenue for the current year amounted SR 339,672 thousand, compared to SR 301,954 thousand during the previous year, an increase of 12.49%, which was principally driven by performance of the business. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit after zakat and income tax attributable to shareholders for the current year amounted to SR 37,203 thousand, compared to SR 44,254 thousand during the previous year, a decrease of 15.93%, which was mainly due to:
• Decrease in net results of insurance services for the current year to SR 36,032 thousand as compared to SR 57,161 thousand during the previous year, reflecting a decline of 36.96%.
•The decrease was off-set by an increase in net investment results after deducting the net finance expense for the current year amounted by SR 35,234 thousand, compared to SR 30,368 thousand during the previous year, an increase of 16.02%.
• Total comprehensive income for the current year reached SR 55,200 thousand, compared to SAR 47,558 during the previous year, showing an increase of 16.07%. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | No reclassification |
| Additional Information | • The total shareholders' equity (excluding minority interest) at the end of the current year amounted to SR 975,434 thousand, compared to SR 940,360 thousand in the previous year, reflecting an increase of 3.73%.
• Earnings per share (EPS) for the current year is SR 0.56 per share, compared to SR 0.67 per share for the previous year. Earnings per share was calculated by dividing the net income attributable to shareholders after zakat and income tax amounted to SR 37,203 thousand over the weighted average number of ordinary outstanding shares of 66,000 thousand during the current year, compared to net income attributable to shareholders after zakat and income tax amounted to SR 44,254 thousand on 66,000 thousand shares in the previous year. |
Comments