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Saudi Arabian Cooperative Insurance 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 | 263,453 | 277,032 | -4.901 | 275,941 | -4.525 |
| Result of Insurance Services | 134,191 | 73,570 | 82.399 | 184,845 | -27.403 |
| Net Profit (Loss) of The Insurance Results | 13,714 | 5,581 | 145.726 | 8,057 | 70.212 |
| Net Profit (Loss) of The Investment Results | 6,492 | 6,887 | -5.735 | 7,431 | -12.636 |
| Net Insurance Financing Expenses | -3,400 | -3,404 | -0.117 | -1,107 | 207.136 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 14,248 | 3,208 | 344.139 | 12,163 | 17.142 |
| Total Comprehensive Income | 16,756 | 3,208 | 422.319 | 31,075 | -46.078 |
| 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) | 398,588 | 316,810 | 25.812 |
| Profit (Loss) per Share | 0.47 | 0.11 | |
| 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 | - Insurance Revenue during the current quarter amounted to 263,453 thousand Saudi Riyals, compared to 277,032 thousand Saudi Riyals for the same quarter of last year, with a decrease of 5%, The reason of the decrease in revenues during this current quarter is mainly due to the decrease in Medical Business. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit before zakat attributable to the shareholders for the current quarter amounted to 15,812 thousand Saudi Riyals compared to 5,252 thousand Saudi Riyals during the same quarter of last year, due to the following main reasons: - Net insurance service result for the current quarter amounted to 13,714 thousand Saudi Riyals, compared to 5,581 thousand Saudi Riyals during the same quarter of last year, an increase of 146%. - Other operating expenses decreased by 2,303 thousand Saudi Riyals during the current quarter compared to the same quarter of last year, a decrease of 48%. Total comprehensive income for the current quarter amounted to 16,756 thousand Saudi Riyals, compared to 3,208 thousand Saudi Riyals during the same quarter of last year. |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | - Insurance Revenue during the current quarter amounted to 263,453 thousand Saudi Riyals, compared to 275,941 thousand Saudi Riyals for the previous quarter, with decrease of 5%, The reason of the decrease in revenues during this current quarter is mainly due to the decrease in Medical Business. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is | Net profit before zakat attributable to the shareholders for the current quarter amounted to 15,812 thousand Saudi Riyals compared to 10,698 thousand Saudi Riyals during the previous quarter, due to the following main reasons: - Net insurance service result for the current quarter amounted to 13,714 thousand Saudi Riyals, compared to 8,057 thousand Saudi Riyals during the previous quarter, an increase of 70%. - Other operating expenses decreased by 1,854 thousand Saudi Riyals during the current quarter compared to the previous quarter, a decrease of 43%. Total comprehensive income for the current quarter amounted to 16,756 thousand Saudi Riyals, compared to 31,075 thousand Saudi Riyals during the previous quarter. |
| 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 | - None |
| Additional Information | - The Earnings per Share for the current quarter is SAR 0.47 compared to SAR 0.11 for the same quarter previous year. Which was calculated based on weighted average number of shares which are 30,000 thousand shares. - Total Shareholders’ Equity (no minority interest) as at end of current quarter is 398,588 thousand Saudi Riyals, compared to 316,810 thousand Saudi Riyals for the same quarter previous year, an increase of 26%. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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