Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	338.00M	308.94M	289.84M	292.03M	305.63M
Operating Expenses	289.77M	292.02M	275.30M	327.50M	298.59M
Pretax Income	48.23M	16.93M	14.54M	-35.46M	10.47M
Income Tax	5.04M	1.49M	—	—	—
Net Income	43.19M	15.44M	14.54M	-35.46M	10.47M
Premium Revenue	313.94M	289.38M	261.17M	284.04M	275.19M
Policy Benefits	188.83M	195.29M	261.01M	318.61M	166.79M
Policy Cost	88.62M	83.66M	—	—	76.34M
EPS (Basic)	0.36	0.13	0.12	-0.29	0.09
EPS (Diluted)	0.36	0.13	0.12	-0.29	0.09
DPS	—	—	—	—	0.08
Margins & Efficiency
Net Margin %	+12.8%	+5.0%	+5.0%	-12.1%	+3.4%
Revenue & Income
Revenue Growth (YoY)	+9.4%	+6.6%	-0.8%	-4.4%	-22.3%
Revenue Insurance	338.00M	308.94M	289.84M	292.03M	305.63M
Premiums Annuity Rev	313.94M	289.38M	261.17M	284.04M	275.19M
Other Revenue Insurance	3.95M	3.32M	3.14M	3.65M	19.92M
Gain (Loss) on Sale of Assets	—	—	—	—	4.81M
Gain Investment Rev Insurance	1.19M	-0.23M	0.39M	—	1.09M
Expenses & Provisions
SG&A Insurance	0.61M	0.41M	0.41M	0.45M	55.28M
Other Opex Insurance	11.71M	12.65M	13.88M	8.45M	—
Total Opex Insurance	289.77M	292.02M	275.30M	327.50M	298.59M
Other Non Operating Income (Expenses)	—	—	—	—	-1.37M
Policy Benefits	188.83M	195.29M	261.01M	318.61M	166.79M
Policy Cost	88.62M	83.66M	—	—	76.34M
Provision for Bad Debts	—	—	—	—	187.85K
D&A For EBITDA	0.33M	0.37M	0.71M	0.86M	1.16M
Deferred Policy Acquisition Cost	—	—	—	—	23.23M
Profitability & Returns
EBIT	48.23M	16.93M	14.54M	-35.46M	7.04M
EBIT Margin	+14.3%	+5.5%	+5.0%	-12.1%	+2.3%
EBITDA	48.56M	17.29M	15.25M	-34.60M	8.19M
EBITDA Margin	+14.4%	+5.6%	+5.3%	-11.8%	+2.7%
EBT Excluding Unusual Items	48.23M	16.93M	14.54M	-35.46M	5.67M
Pretax Income	48.23M	16.93M	14.54M	-35.46M	10.47M
Opinc Insurance	48.23M	16.93M	14.54M	-35.46M	7.04M
Operating Margin	+14.3%	+5.5%	+5.0%	-12.1%	+2.3%
Profit Margin	+12.8%	+5.0%	+5.0%	-12.1%	+3.4%
Net Income	43.19M	15.44M	14.54M	-35.46M	10.47M
Net Income to Common	43.19M	15.44M	14.54M	-35.46M	10.47M
Net Income Growth	+179.8%	+6.2%	—	—	-22.3%
Income Tax Expense	5.04M	1.49M	—	—	—
Effective Tax Rate	+10.4%	+8.8%	—	—	—
Per Share & Capital
EPS (Basic)	0.36	0.13	0.12	-0.29	0.09
EPS (Diluted)	0.36	0.13	0.12	-0.29	0.09
EPS Growth	+179.8%	+6.2%	—	—	-22.3%
Dividend Per Share	—	—	—	—	0.08
Shares Outstanding (Basic)	121.28M	121.28M	121.28M	121.28M	121.28M
Shares Outstanding (Diluted)	121.28M	121.28M	121.28M	121.28M	121.28M
Free Cash Flow	36.62M	78.85M	-14.86M	13.57M	24.66M
Free Cash Flow Margin	+10.8%	+25.5%	-5.1%	+4.6%	+8.1%
Free Cash Flow Per Share	0.30	0.65	-0.12	0.11	0.20
Payout Ratio	—	—	—	—	+92.6%
Supplemental
Total Interest Dividend Income	18.92M	16.48M	25.15M	4.35M	9.43M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	338.00M	308.94M	289.84M	292.03M	305.63M
Operating Expenses	289.77M	292.02M	275.30M	327.50M	298.59M
Pretax Income	48.23M	16.93M	14.54M	-35.46M	10.47M
Income Tax	5.04M	1.49M	—	—	—
Net Income	43.19M	15.44M	14.54M	-35.46M	10.47M
Premium Revenue	313.94M	289.38M	261.17M	284.04M	275.19M
Policy Benefits	188.83M	195.29M	261.01M	318.61M	166.79M
Policy Cost	88.62M	83.66M	—	—	76.34M
EPS (Basic)	0.36	0.13	0.12	-0.29	0.09
EPS (Diluted)	0.36	0.13	0.12	-0.29	0.09
DPS	—	—	—	—	0.08
Margins & Efficiency
Net Margin %	+12.8%	+5.0%	+5.0%	-12.1%	+3.4%
Revenue & Income
Revenue Growth (YoY)	+9.4%	+6.6%	-0.8%	-4.4%	-22.3%
Revenue Insurance	338.00M	308.94M	289.84M	292.03M	305.63M
Premiums Annuity Rev	313.94M	289.38M	261.17M	284.04M	275.19M
Other Revenue Insurance	3.95M	3.32M	3.14M	3.65M	19.92M
Gain (Loss) on Sale of Assets	—	—	—	—	4.81M
Gain Investment Rev Insurance	1.19M	-0.23M	0.39M	—	1.09M
Expenses & Provisions
SG&A Insurance	0.61M	0.41M	0.41M	0.45M	55.28M
Other Opex Insurance	11.71M	12.65M	13.88M	8.45M	—
Total Opex Insurance	289.77M	292.02M	275.30M	327.50M	298.59M
Other Non Operating Income (Expenses)	—	—	—	—	-1.37M
Policy Benefits	188.83M	195.29M	261.01M	318.61M	166.79M
Policy Cost	88.62M	83.66M	—	—	76.34M
Provision for Bad Debts	—	—	—	—	187.85K
D&A For EBITDA	0.33M	0.37M	0.71M	0.86M	1.16M
Deferred Policy Acquisition Cost	—	—	—	—	23.23M
Profitability & Returns
EBIT	48.23M	16.93M	14.54M	-35.46M	7.04M
EBIT Margin	+14.3%	+5.5%	+5.0%	-12.1%	+2.3%
EBITDA	48.56M	17.29M	15.25M	-34.60M	8.19M
EBITDA Margin	+14.4%	+5.6%	+5.3%	-11.8%	+2.7%
EBT Excluding Unusual Items	48.23M	16.93M	14.54M	-35.46M	5.67M
Pretax Income	48.23M	16.93M	14.54M	-35.46M	10.47M
Opinc Insurance	48.23M	16.93M	14.54M	-35.46M	7.04M
Operating Margin	+14.3%	+5.5%	+5.0%	-12.1%	+2.3%
Profit Margin	+12.8%	+5.0%	+5.0%	-12.1%	+3.4%
Net Income	43.19M	15.44M	14.54M	-35.46M	10.47M
Net Income to Common	43.19M	15.44M	14.54M	-35.46M	10.47M
Net Income Growth	+179.8%	+6.2%	—	—	-22.3%
Income Tax Expense	5.04M	1.49M	—	—	—
Effective Tax Rate	+10.4%	+8.8%	—	—	—
Per Share & Capital
EPS (Basic)	0.36	0.13	0.12	-0.29	0.09
EPS (Diluted)	0.36	0.13	0.12	-0.29	0.09
EPS Growth	+179.8%	+6.2%	—	—	-22.3%
Dividend Per Share	—	—	—	—	0.08
Shares Outstanding (Basic)	121.28M	121.28M	121.28M	121.28M	121.28M
Shares Outstanding (Diluted)	121.28M	121.28M	121.28M	121.28M	121.28M
Free Cash Flow	36.62M	78.85M	-14.86M	13.57M	24.66M
Free Cash Flow Margin	+10.8%	+25.5%	-5.1%	+4.6%	+8.1%
Free Cash Flow Per Share	0.30	0.65	-0.12	0.11	0.20
Payout Ratio	—	—	—	—	+92.6%
Supplemental
Total Interest Dividend Income	18.92M	16.48M	25.15M	4.35M	9.43M

Financials

Annual (AED)

Ras Alkhaima National Insurance

Annual (AED)