Aljazira Takaful Taawuni Co. announces its Interim Financial Results for the period ending on 2025-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 83,758 | 91,965 | -8.924 | 88,731 | -5.604 |
| Result of Insurance Services | 31,607 | 17,612 | 79.462 | 2,586 | 1,122.235 |
| Net Profit (Loss) of The Insurance Results | 16,537 | 15,673 | 5.512 | 2,728 | 506.195 |
| Net Profit (Loss) of The Investment Results | 10,996 | 106,453 | -89.67 | -13,897 | - |
| Net Insurance Financing Expenses | -3,742 | -97,863 | -96.176 | 25,468 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 16,112 | 12,780 | 26.071 | 4,073 | 295.58 |
| Total Comprehensive Income | 18,621 | 12,780 | 45.704 | 22,070 | -15.627 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 994,297 | 953,056 | 4.327 |
| Profit (Loss) per Share | 0.24 | 0.19 | |
| 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 the revenues during the current quarter compared to the same quarter of last year is | The insurance revenues for the current quarter amounted to SAR 83,758 thousand, compared to SAR 91,965 thousand for the same quarter of the previous year, reflecting a decrease of 8.92%. This decline is primarily due to an increase in the unearned premium reserve. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SAR 16,112 thousand, compared to SAR 12,780 thousand for the same quarter of the previous year, representing an increase of 26.07%.
This increase is primarily due to the followings:
• An increase in the results of insurance services, which reached SAR 31,607 thousand, compared to SAR 17,612 thousand in the same quarter of the previous year, achieving a growth of 79.46%.
• An increase in the net results of insurance services, which reached SAR 16,537 thousand, compared to SAR 15,673 thousand in the same quarter of the previous year, reflecting an increase of 5.51%.
• A decrease in other operating expenses for the current quarter which reached SR 6,564 thousand compared to SR 10,956 thousand in the same period of the last year showing saving of expenses of 40.09%. |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | Insurance revenues for the current quarter amounted to SAR 83,758 thousand, compared to SAR 88,731 thousand in the previous quarter, representing a decrease of 5.60%. This decline is due to seasonality of the business. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is | The net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SAR 16,112 thousand, compared to SAR 4,073 thousand for the previous quarter, an increase of 295.58%.
The increase is primarily due to the followings:
• An increase in the results of insurance services, which reached SAR 31,607 thousand, compared to SAR 2,586 thousand in the previous quarter, an increase of 1,122.24%.
• An increase in net profit from insurance results which reached SAR 16,537 thousand, compared to SAR 2,728 thousand in the previous quarter, an increase of 506.20%.
• A decrease in other operating expenses for the current quarter which reached SR 6,564 thousand compared to SR 8,200 thousand in the previous quarter, showing a decrease of 19.95%. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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 (after deducting minority equity) at the end of the current quarter amounted to SAR 994,055 thousand, compared to SAR 953,140 thousand for the same quarter of the previous year, representing an increase of 4.29%.
• The earnings per share for the current quarter stood at SAR 0.24 per share, compared to SAR 0.19 per share for the same quarter of the previous year. Earnings per share were calculated by dividing the net income attributable to shareholders after zakat and income tax, which amounted to SAR 16,112 thousand, by the weighted average number of outstanding ordinary shares of 66,000 thousand shares during the current quarter, compared to net income attributable to shareholders after zakat and income tax of SAR 12,780 thousand on 66,000 thousand shares in the same quarter of the previous year. |
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