Arabian Shield FY 2018 net profit declines 68%

Argaam Report: Last Updated Date (21/03/2019)

Arabian Shield Cooperative Insurance Co.'s net profit before zakat and tax slumped 68.3 percent year-on-year (YoY) to SAR 34.3 million for fiscal year 2018. This was due to a drop in net earned premiums and earned commission income.

Financials Highlights (M)

Item 2017 2018 Change‬
Gross Written Premium (GWP) 593.08 625.10 5.4 %
Net Profit Before Zakat & Tax 108.18 34.29 (68.3 %)
Average Shares 30.00 30.00 -
EPS (SAR) 3.61 1.14 (68.3 %)

Insurance Operations (M)

Item 2017 2018 Change‬
Gross Written Premium (GWP) 593.08 625.10 5.4 %
Net Written Premiums (NWP) 394.27 452.57 14.8 %
Net Incurred Claims (258.51) (284.24) (10.0 %)

Historical Performance (M)

Period Gross Premium Written Net Profit Before Zakat & Tax EPS (SAR) Earnings Growth
2018 625.10 34.29 1.14 (75.68 %)
2018 - Q4 117.98 9.89 0.33 (80.63 %)
2018 - Q3 172.78 4.65 0.15 (89.66 %)
2018 - Q2 93.43 6.70 0.22 (80.88 %)
2018 - Q1 240.91 13.06 0.44 (43.54 %)
2017 - Q4 72.48 42.01 1.40 (12.73 %)
2017 - Q3 115.37 23.14 0.77 23.15 %
2017 - Q2 165.35 22.35 0.74 150.86 %
2017 - Q1 239.89 20.68 0.69 229.08 %
2016 - Q4 156.42 44.73 1.49 71.26 %
2016 - Q3 152.71 18.72 0.62 218.09 %
2016 - Q2 175.28 10.07 0.34 908.85 %
2016 - Q1 270.06 7.43 0.25 91.28 %
2015 - Q4 70.88 27.83 0.93 192.96 %
2015 - Q3 71.75 6.37 0.21 1,601.35 %
2015 - Q2 136.67 2.59 0.09 9.71 %
2015 - Q1 251.88 4.51 0.15 229.98 %
2014 - Q4 75.82 9.73 0.32 398.55 %
2014 - Q3 95.60 1.44 0.05 113.67 %
2014 - Q2 112.27 2.10 0.07 319.16 %
2014 - Q1 169.00 2.05 0.07 293.40 %
2013 - Q4 69.74 2.97 0.10 23.03 %
2013 - Q3 68.65 0.80 0.03 (90.69 %)
2013 - Q2 71.54 1.37 0.05 35.77 %
2013 - Q1 123.37 1.41 0.05 (80.62 %)
2012 - Q4 45.46 2.40 0.08 (73.11 %)
2012 - Q3 71.46 2.94 0.10 31.31 %
2012 - Q2 97.29 1.49 0.05 (95.93 %)
2012 - Q1 117.33 2.43 0.08 (45.38 %)
2011 - Q4 46.53 6.38 0.21 (33.40 %)
2011 - Q3 49.10 2.60 0.09 (60.77 %)
2011 - Q2 75.16 4.46 0.15 14.52 %
2011 - Q1 103.45 2.98 0.10 0.10 %
2010 - Q4 40.85 8.04 0.27 361.95 %
2010 - Q3 45.06 4.27 0.14 21.36 %
2010 - Q2 60.25 4.02 0.13 14.30 %
2010 - Q1 88.28 3.19 0.11 12.86 %
2009 - Q4 33.33 3.38 0.11 119.92 %
2009 - Q3 42.19 3.82 0.13 54.96 %
2009 - Q2 45.31 3.80 0.13 76.72 %
2009 - Q1 62.95 2.45 0.08 11.58 %

Insurance Operations Performance (M)

Period Gross Written Premium (GWP) Net Written Premiums (NWP) Net Incurred Claims
2018 625.10 452.57 (284.24)
2018 - Q4 117.98 96.03 (88.32)
2018 - Q3 172.78 144.93 (65.06)
2018 - Q2 93.43 63.33 (67.13)
2018 - Q1 240.91 148.27 (63.73)
2017 - Q4 72.48 52.16 (38.07)
2017 - Q3 115.37 79.00 (61.19)
2017 - Q2 165.35 113.78 (70.26)
2017 - Q1 239.89 149.33 (88.98)
2016 - Q4 156.42 104.38 (69.54)
2016 - Q3 152.71 101.28 (65.86)
2016 - Q2 175.28 116.79 (65.67)
2016 - Q1 270.06 158.34 (66.84)
2015 - Q4 70.88 46.54 (43.66)
2015 - Q3 71.75 48.75 (67.56)
2015 - Q2 136.67 89.53 (66.34)
2015 - Q1 251.88 147.35 (60.52)
2014 - Q4 75.82 48.13 (55.16)
2014 - Q3 95.60 54.86 (60.34)
2014 - Q2 112.27 75.16 (54.31)
2014 - Q1 169.00 112.21 (45.27)
2013 - Q4 69.74 50.65 (42.90)
2013 - Q3 68.65 45.37 (42.82)
2013 - Q2 71.54 47.63 (43.35)
2013 - Q1 123.37 67.66 (49.48)
2012 - Q4 45.46 34.87 (51.90)
2012 - Q3 71.46 57.05 (49.24)
2012 - Q2 97.29 77.09 (42.50)
2012 - Q1 117.33 81.49 (37.86)
2011 - Q4 46.53 37.14 (33.43)
2011 - Q3 49.10 34.14 (33.92)
2011 - Q2 75.16 52.35 (31.33)
2011 - Q1 103.45 61.52 (33.43)
2010 - Q4 40.85 31.54 (23.15)
2010 - Q3 45.06 28.12 (26.36)
2010 - Q2 60.25 41.90 (24.79)
2010 - Q1 88.28 50.29 (21.74)
2009 - Q4 33.33 18.91 (15.39)
2009 - Q3 42.19 19.76 (12.03)
2009 - Q2 45.31 23.73 (10.05)
2009 - Q1 62.95 24.59 (9.13)

Business Segments - Gross Premium Written (M)

Period Property Insurance Motor Insurance Medical Insurance Other classes Protection & Saving
2018 - Q1 53.83 34.20 128.18 - 24.71
2018 - Q2 9.19 24.40 51.02 - 9.02
2018 - Q3 8.46 13.29 138.83 - 12.01
2018 - Q4 8.12 11.17 89.31 - 9.38
2018 79.60 83.06 407.34 - 55.10
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Per Share Data (SAR)

Period Shares Outstanding (M) EPS (TTM) EPS Before XO Items (TTM) Book Value (BV)
2018 - Q4 30.00 0.75 0.75 14.26
2018 - Q3 30.00 1.72 1.72 14.01
2018 - Q2 30.00 2.31 2.31 13.95
2018 - Q1 30.00 2.84 2.84 13.85
2017 - Q4 30.00 3.09 3.09 13.49
2017 - Q3 30.00 3.27 3.27 12.29
2017 - Q2 30.00 3.14 3.14 11.62
2017 - Q1 30.00 2.75 2.75 10.97
2016 - Q4 30.00 2.35 2.35 11.67
2016 - Q3 30.00 1.78 1.78 10.29
2016 - Q2 30.00 1.41 1.41 9.76
2016 - Q1 30.00 1.18 1.18 9.50
2015 - Q4 30.00 1.09 1.09 9.32
2015 - Q3 30.00 0.56 0.56 8.52
2015 - Q2 30.00 0.40 0.40 8.35
2015 - Q1 30.00 0.40 0.40 8.32
2014 - Q4 30.00 0.34 0.34 8.23
2014 - Q3 30.00 0.12 0.12 7.95
2014 - Q2 30.00 0.11 0.11 7.94
2014 - Q1 30.00 0.09 0.09 7.92
2013 - Q4 30.00 0.07 0.07 7.89
2013 - Q3 30.00 0.06 0.06 7.84
2013 - Q2 30.00 0.11 0.11 7.83
2013 - Q1 30.00 0.11 0.11 7.83
2012 - Q4 30.00 0.14 0.14 7.82
2012 - Q3 30.00 0.26 0.26 7.78
2012 - Q2 30.00 0.25 0.25 7.73
2012 - Q1 30.00 0.34 0.34 7.72
2011 - Q4 30.00 0.37 0.37 7.69
2011 - Q3 30.00 0.46 0.46 7.52
2011 - Q2 30.00 0.51 0.51 7.48
2011 - Q1 30.00 0.50 0.50 7.38
2010 - Q4 30.00 0.50 0.50 7.31
2010 - Q3 30.00 0.31 0.31 7.06
2010 - Q2 30.00 0.29 0.29 6.97
2010 - Q1 30.00 0.28 0.28 6.88
2009 - Q4 30.00 0.27 0.27 6.81
2009 - Q3 30.00 (0.06) (0.06) 6.76
2009 - Q2 30.00 (0.08) (0.08) 6.68
2009 - Q1 30.00 (0.12) (0.12) 6.55

Multiple Ratios (End of Period Price)

Period P/E P/E Before Unusual Items
2018 - Q4 24.49 24.49
2018 - Q3 10.92 10.92
2018 - Q2 11.79 11.79
2018 - Q1 10.82 10.82
2017 - Q4 9.05 9.05
2017 - Q3 8.45 8.45
2017 - Q2 9.97 9.97
2017 - Q1 14.39 14.39
2016 - Q4 11.47 11.47
2016 - Q3 7.03 7.03
2016 - Q2 10.77 10.77
2016 - Q1 13.05 13.05
2015 - Q4 16.14 16.14
2015 - Q3 29.07 29.07
2015 - Q2 HIGH HIGH
2015 - Q1 HIGH HIGH
2014 - Q4 HIGH HIGH
2014 - Q3 HIGH HIGH
2014 - Q2 HIGH HIGH
2014 - Q1 HIGH HIGH
2013 - Q4 HIGH HIGH
2013 - Q3 HIGH HIGH
2013 - Q2 HIGH HIGH
2013 - Q1 HIGH HIGH
2012 - Q4 HIGH HIGH
2012 - Q3 HIGH HIGH
2012 - Q2 HIGH HIGH
2012 - Q1 HIGH HIGH
2011 - Q4 37.07 37.07
2011 - Q3 29.02 29.02
2011 - Q2 25.65 25.65
2011 - Q1 24.17 24.17
2010 - Q4 26.51 26.51
2010 - Q3 44.52 44.52
2010 - Q2 47.15 47.15
2010 - Q1 HIGH HIGH
2009 - Q4 HIGH HIGH
2009 - Q3 NEG NEG
2009 - Q2 NEG NEG
2009 - Q1 NEG NEG
Arabian Shield Cooperative Insurance Company
16.16
0.16 1.00 %
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Financials Highlights (M)

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Business Segments

Valuation Data (Latest Share Price)

P/E (TTM) 34.58
P/E Before Unusual Items (TTM) 34.58
P/BV 1.13
Dividend Yield -
Market Cap. (M) 484.80
Return on Average Assets 1.08 %
Return on Average Equity 3.32 %

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