Saudi Enaya earns SAR 682,000 in H1 2025, SAR 169,000 in Q2

05/08/2025 Argaam Exclusive

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Saudi Enaya Cooperative Insurance Co. posted net earnings of SAR 682,000 in H1 2025, against a loss of SAR 2.3 million in H1 2024.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 101.66 55.21 (45.7 %)
Insurance Revenues 116.99 104.90 (10.3 %)
Net Profit Before Zakat & Tax (0.98) 2.47 352.7 %
Net Income (2.28) 0.68 130.0 %
Average Shares 23.00 23.00 -
Earnings Per Share before unusual items (Riyals) (0.10) 0.03 130.0 %
EPS (Riyal) (0.10) 0.03 130.0 %

Insurance revenues amounted to SAR 104.9 million in H1 2025, down 10.3% from SAR 116.9 million a year ago, due to lower gross written premiums.

 

Insurance service result reached SAR 7.06 million, soaring from SAR 2.77 million a year before, which was principally driven by a decrease in claims incurred and technical reserves.

 

However, the company recorded no other income for the current period, compared to SAR 1.29 million a year earlier.

 

Other operating expenses leapt 31.34% year-on-year (YoY) to SAR 9.04 million from SAR 6.89 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Gross Written Premium (GWP) 40.21 23.04 (42.7 %)
Insurance Revenues 57.29 49.04 (14.4 %)
Net Profit Before Zakat & Tax 1.78 1.85 3.9 %
Net Income 0.73 0.17 (76.8 %)
Average Shares 23.00 23.00 -
Earnings Per Share before unusual items (Riyal) 0.03 0.01 (76.8 %)
EPS (Riyal) 0.03 0.01 (76.8 %)

The insurer's Q2 2025 net earnings dropped 77% YoY to SAR 169,000, mainly due to lower insurance revenues.

 

Sequentially, the second-quarter net earnings fell 67.1% from SAR 510,000.

Insurance Operations

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 101.66 55.21 (45.7 %)
Insurance Revenues 116.99 104.90 (10.3 %)
Insurance Services Income (2.78) 7.07 354.3 %
Investment Income 7.40 4.45 (39.9 %)
Net Profit of Insurance Services and Investment 4.62 11.52 149.4 %

Shareholders’ equity, no minority interest, reached SAR 162.9 million by the end of H1 2025, compared to SAR 185.9 million a year earlier.

 

Accumulated losses reached SAR 67.9 million by the end of the current period, representing 29.52% of the company's capital.

 

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Share Price

Saudi Enaya Cooperative Insurance Co.
9.20
(0.01) (0.11 %)

Saudi Enaya Cooperative Insurance Co. (ENAYA)

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Financial Ratios
Current
Market Cap (M Riyal) 211.60
Shares Outstanding (M) 23.00
EPS ( Riyal) (TTM) (1.03)
Book Value (BV) ( Riyal) 7.16
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/Book 1.29
Return on Average Assets (%) (TTM) (8.53 )
Return on Average Equity (%) (TTM) (13.48 )
Return on Market Cap (%) (10.07 )
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