Saudi Enaya Reports SAR 0.04M Net Profit in Three Months 2026
ENAYA 8311.SA | 0.00 |
On 2026-05-06 08:28:22 (Saudi Time), Saudi Enaya Cooperative Insurance Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 31,790 | 55,861 | -43.09 | 31,226 | 1.806 |
| Result of Insurance Services | 990 | 2,825 | -64.955 | 2,240 | -55.803 |
| Net Profit (Loss) of The Insurance Results | 990 | 2,825 | -64.955 | 2,240 | -55.803 |
| Net Profit (Loss) of The Investment Results | 2,014 | 2,307 | -12.7 | 1,771 | 13.721 |
| Net Insurance Financing Expenses | - | - | - | - | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 37 | 513 | -92.787 | -8,107 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 37 | 513 | -92.787 | -8,772 | - |
| 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) | 154,753 | 161,928 | -4.43 |
| Profit (Loss) per Share | 0.0016 | 0.0223 | |
| 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 | -75,247 | 33 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance revenues declined 43.09% YoY to 31.79 million SAR, primarily driven by an increase in unearned premium of 48.15 million SAR due to policy timing deferrals, partially offset by a 22.97 million SAR increase in gross written premiums. Net profit dropped 92.787% YoY to 0.037 million SAR, mainly due to a 64.955% decrease in insurance service results caused by the unearned premium increase, combined with a 12.7% decline in investment results, though partially mitigated by a 48.76% reduction in operating expenses.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenue increased 1.81% to 31.79 million due to substantial GWP growth of 28.27 million, partially offset by increased unearned premiums of 26.95 million from policy timing deferrals. Net profit improved dramatically from a loss of 8.11 million to a profit of 0.04 million, driven by a 62.15% reduction in operating expenses and 13.72% increase in investment results.
Other Items
The external auditor issued an unmodified conclusion but included an Emphasis of Matter paragraph regarding material uncertainty related to going concern. Accumulated losses reached 75,247 thousand SAR, representing 33% of capital. Earnings per share declined significantly to 0.0016 SAR compared to 0.0223 SAR in the prior year quarter. Total shareholders' equity decreased 4.43% year-over-year to 154,753 thousand SAR.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94999&anCat=1&cs=8311&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.