Malath Insurance Reports SAR 21.70M Net Profit in 2025
MALATH INSURANCE 8020.SA | 0.00 |
On 2026-02-19 08:01:15 (Saudi Time), Malath Cooperative Insurance Co. announced its Annual financial results for the twelve months ended on December 31, 2025.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Insurance Revenues | 1,445,363 | 1,010,723 | 43 | ||
| Result of Insurance Services | -32,198 | 34,693 | - | ||
| Net Profit (Loss) of The Insurance Results | -13,061 | -4,199 | 211.05 | ||
| Net Profit (Loss) of The Investment Results | 52,942 | 36,697 | 44.27 | ||
| Net Insurance Financing Expenses | -12,343 | -10,197 | 21.05 | ||
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 21,701 | 26,889 | -19.29 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 29,556 | 42,685 | -30.76 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 462,331 | 432,775 | 6.83 | ||
| Profit (Loss) per Share | 0.43 | 0.54 | |||
| 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 | 21,463 | 4.3 | |
| Accumulated Losses | -86,359 | 17.3 | |
| 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 to SR 1,445.4 million, compared to SR 1,010.7 million for the previous year, representing an increase of 43%, which was mainly driven by prior year and first half of the current year business growth in overall insurance portfolio, and motor segment mainly. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
Net profit for the current year amounted to SR 21.7 million, compared to SR 26.9 million for the previous year, representing a decrease of 19% due to the following main reasons:
• Increase in insurance serives expenses by SR 501.5 million that represent an increase of 51%, mainly driven from motor portfolio as result of prior year business growth.
• Decrease in other income by SR 8 million by 18%, compared to the previous year.
• Increase in other operating expenses by SR 3.8 million by 12%, compared to the previous year.
Above points were partially offset by the following:
• Increase in insurance revenues by SR 434.6 million compared to the previous year, representing an increase by 43%.
• Increase in investment income by SR 16.2 million compared to the previous year, representing an increase by 44%. |
| 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 | Certain amounts from prior periods in notes to the financial statements have been reclassified and regrouped to align with current periods' presentation. |
| Additional Information |
The accumulated losses over share capital, this year dropped to 17.27% compared to 21.61% for the last year.
Gross Written Premiums (GWP) for the current year is amounted to SR 1,241 million compared to SR 1,406 million for last year. A decrease of 12% of written premiums.
Earnings per share was calculated based on Net Income after zakat amounted to SR 21.7 million for the current year compared to SR 26.9 million for last year divided by 50 Million weighted average number of shares issued and outstanding.
During the year fair value gain of investment properties was reported amounting to SR 21.4 after adoption the fair value model on investment properties. |
Year-on-Year Performance Drivers
Insurance revenues increased 43% YoY to 1,445.36 million driven by business growth in the overall insurance portfolio, particularly the motor segment from prior year expansion. Net profit declined 19.29% to 21.70 million primarily due to a 51% increase in insurance services expenses totaling 501.5 million, mainly from the motor portfolio as a result of prior year business growth, along with decreased other income and higher operating expenses. This was partially offset by the 43% revenue increase and 44% growth in investment income totaling 16.2 million.
Other Items
Auditors issued an unmodified opinion with no additional comments or qualifications. Accumulated losses decreased to 17.27% of capital from 21.61% in the previous year. The company reported accumulated losses of -86,359 thousand SAR representing 17.3% of capital. Fair value gains from investment properties amounted to 21,463 thousand SAR (4.3% of capital) following adoption of the fair value model. Gross written premiums decreased 12% to 1,241 million SAR compared to 1,406 million SAR in the prior year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=93225&anCat=1&cs=8020&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.