Financial Results : Malath H1 2025 profit jumps 43% to SAR 16.6M; Q2 at SAR 6.7M

Malath H1 2025 profit jumps 43% to SAR 16.6M; Q2 at SAR 6.7M

31/07/2025 Argaam Exclusive

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Malath Cooperative Insurance Co. reported a 43% profit increase to SAR 16.6 million in the first half of 2025, from SAR 11.6 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 619.14 763.54 23.3 %
Insurance Revenues 431.72 706.08 63.5 %
Net Profit Before Zakat & Tax 16.35 21.56 31.9 %
Net Income 11.59 16.56 42.8 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyals) 0.23 0.33 42.8 %
EPS (Riyal) 0.23 0.33 42.8 %

The profit increase is driven by a 64% increase year-on-year (YoY) in insurance revenues by SAR 274.4 million, mainly due to the increase of gross written premiums during the period of six months by SAR 144.1 million (23% YoY). Furthermore, premium continued to rise in second half of last year.

 

Other income for the current period increased by SAR 12.1 million mainly due to increase in IDI pool management and administrative fees, an increase by 58.6%.

 

Additionally, reinsurance contracts net expenses fell 63.7% YoY by SAR 8.8 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Gross Written Premium (GWP) 291.67 292.13 0.2 %
Insurance Revenues 225.96 365.95 62.0 %
Net Profit Before Zakat & Tax 2.53 10.68 322.5 %
Net Income 0.15 6.68 4321.9 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyal) 0.00 0.13 4321.9 %
EPS (Riyal) 0.00 0.13 4321.9 %

The second-quarter net earnings surged to SAR 6.7 million, compared with SAR 151,000 a year earlier.

 

On a quarterly basis, Q2 2025 profit fell by 32.4% from SAR 9.88 million in Q1 2025.

Insurance Operations

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 619.14 763.54 23.3 %
Insurance Revenues 431.72 706.08 63.6 %
Insurance Services Income (0.31) (6.75) (2,077.4 %)
Investment Income 19.02 15.95 (16.1 %)
Net Profit of Insurance Services and Investment 13.29 2.26 (83.0 %)

Total shareholders’ equity, no minority interest, rose to SAR 451.34 million by June 30, 2025, compared to SAR 403.5 million a year earlier.

 

Accumulated losses reached SAR 91.5 million by June 30, 2025, representing 18.3% of capital.

 

View more financial results

 


Financial results (Million)

Period Net Income Change EPS(Riyal) Net Profit Before Zakat & Tax Change
Q1 2016 0.74 105.5 % 0.01 2.86 125.0 %
Q2 2016 (131.50) (8016.8 %) (2.63) (129.62) (3640.6 %)
Q3 2016 0.00 (100.0 %) 0.00 1.34 (93.1 %)
Q4 2016 (25.41) (58.7 %) (0.51) (24.75) (76.6 %)
Q1 2017 7.36 901.5 % 0.15 8.86 209.8 %
Q2 2017 3.54 102.7 % 0.07 5.04 103.9 %
Q3 2017 9.60 319933.3 % 0.19 11.10 730.9 %
Q4 2017 (37.53) (47.7 %) (0.75) (36.03) (45.6 %)
Q1 2018 7.77 5.6 % 0.16 10.02 13.1 %
Q2 2018 3.04 (13.9 %) 0.06 5.29 5.1 %
Q3 2018 7.77 (19.0 %) 0.16 10.02 (9.7 %)
Q4 2018 (15.96) 57.5 % (0.32) (9.71) 73.0 %
Q1 2019 3.27 (57.9 %) 0.07 6.57 (34.4 %)
Q2 2019 (14.46) (575.2 %) (0.29) (11.16) (310.9 %)
Q3 2019 4.36 (43.9 %) 0.09 6.31 (37.1 %)
Q4 2019 11.09 169.5 % 0.22 15.72 261.9 %
Q1 2020 0.69 (78.8 %) 0.01 3.99 (39.3 %)
Q2 2020 1.42 109.8 % 0.03 4.72 142.3 %
Q3 2020 (2.00) (145.8 %) (0.04) 1.30 (79.3 %)
Q4 2020 6.83 (38.4 %) 0.14 12.05 (23.3 %)
Q1 2021 (2.54) (466.5 %) (0.05) 0.70 (82.4 %)
Q2 2021 (11.84) (931.7 %) (0.24) (8.60) (282.0 %)
Q3 2021 (36.67) (1,737.1 %) (0.73) (33.43) (2663.3 %)
Q4 2021 (34.61) (606.8 %) (0.69) (31.53) (361.6 %)
Q1 2022 (36.49) (1,336.7 %) (0.73) (33.24) (4821.9 %)
Q2 2022 (18.90) (59.5 %) (0.38) (15.65) (82.0 %)
Q3 2022 3.59 109.8 % 0.07 5.76 117.2 %
Q4 2022 10.42 130.1 % 0.21 12.04 138.2 %
Q1 2023 44.14 220.9 % 0.88 46.39 239.5 %
Q2 2023 8.19 143.4 % 0.16 10.44 166.7 %
Q3 2023 (22.94) (738.8 %) (0.46) (20.69) (459.4 %)
Q4 2023 8.80 (15.6 %) 0.18 11.05 (8.3 %)
Q1 2024 11.44 (74.1 %) 0.23 13.82 (70.2 %)
Q2 2024 0.15 (98.2 %) 0.00 2.53 (75.8 %)
Q3 2024 5.55 124.2 % 0.11 7.93 138.3 %
Q4 2024 9.75 10.8 % 0.19 12.12 9.7 %
Q1 2025 9.88 (13.6 %) 0.20 10.88 (21.3 %)
Q2 2025 6.68 4321.9 % 0.13 10.68 322.5 %

Insurance Operations Performance (M)

Compared With The
Period Gross Written Premium (GWP) Change Insurance Services Income Change Net Profit of Insurance Services and Investment Change
Q1 2016 1,186.43 60.0 % - - - -
Q2 2016 253.12 (15.3 %) - - - -
Q3 2016 531.01 10.8 % - - - -
Q4 2016 197.30 (42.6 %) - - - -
Q1 2017 447.76 (62.3 %) - - - -
Q2 2017 143.89 (43.2 %) - - - -
Q3 2017 62.11 (88.3 %) - - - -
Q4 2017 73.22 (62.9 %) - - - -
Q1 2018 372.44 (16.8 %) - - - -
Q2 2018 130.29 (9.5 %) - - - -
Q3 2018 150.37 142.1 % - - - -
Q4 2018 75.97 3.8 % - - - -
Q1 2019 380.30 2.1 % - - - -
Q2 2019 101.83 (21.8 %) - - - -
Q3 2019 154.33 2.6 % - - - -
Q4 2019 198.78 161.6 % - - - -
Q1 2020 253.80 (33.3 %) - - - -
Q2 2020 209.61 105.8 % - - - -
Q3 2020 153.61 (0.5 %) - - - -
Q4 2020 164.55 (17.2 %) - - - -
Q1 2021 290.33 14.4 % - - - -
Q2 2021 195.91 (6.5 %) - - - -
Q3 2021 284.96 85.5 % - - - -
Q4 2021 170.91 3.9 % - - - -
Q1 2022 286.39 (1.4 %) (42.61) - (27.87) -
Q2 2022 197.51 0.8 % (15.09) - (10.11) -
Q3 2022 261.92 (8.1 %) 2.05 - 11.51 -
Q4 2022 198.56 16.2 % 16.69 - 12.79 -
Q1 2023 323.45 12.9 % 36.81 186.4 % 44.82 260.8 %
Q2 2023 173.62 (12.1 %) 6.40 142.4 % 14.59 244.4 %
Q3 2023 198.67 (24.2 %) (20.23) (1085.6 %) (20.72) (280.0 %)
Q4 2023 174.95 (11.9 %) (5.53) (133.1 %) 6.89 (46.1 %)
Q1 2024 327.47 1.2 % (0.75) (102.0 %) 10.33 (76.9 %)
Q2 2024 291.67 68.0 % 0.44 (93.1 %) 2.96 (79.7 %)
Q3 2024 404.23 103.5 % (2.00) 90.1 % 5.59 127.0 %
Q4 2024 382.87 118.8 % (1.89) 65.8 % 3.42 (50.3 %)
Q1 2025 471.41 44.0 % (10.58) (1,312.8 %) (2.13) (120.6 %)
Q2 2025 292.13 0.2 % 3.83 771.1 % 4.39 48.6 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2016 50.00 0.07 0.07 5.08
Q2 2016 50.00 (2.59) (2.59) 2.31
Q3 2016 50.00 (2.94) (2.94) 2.25
Q4 2016 50.00 (3.12) (3.12) 1.79
Q1 2017 50.00 (2.99) (2.99) 1.93
Q2 2017 50.00 (0.29) (0.29) 2.00
Q3 2017 50.00 (0.10) (0.10) 2.19
Q4 2017 50.00 (0.34) (0.34) 9.01
Q1 2018 50.00 (0.33) (0.33) 9.17
Q2 2018 50.00 (0.34) (0.34) 9.23
Q3 2018 50.00 (0.38) (0.38) 9.39
Q4 2018 50.00 0.05 0.05 9.00
Q1 2019 50.00 (0.04) (0.04) 9.07
Q2 2019 50.00 (0.39) (0.39) 8.79
Q3 2019 50.00 (0.46) (0.46) 8.89
Q4 2019 50.00 0.09 0.09 9.11
Q1 2020 50.00 0.03 0.03 9.13
Q2 2020 50.00 0.35 0.35 9.17
Q3 2020 50.00 0.22 0.22 9.19
Q4 2020 50.00 0.14 0.14 9.21
Q1 2021 50.00 0.07 0.07 9.18
Q2 2021 50.00 (0.19) (0.19) 9.08
Q3 2021 50.00 (0.88) (0.88) 8.24
Q4 2021 50.00 (1.71) (1.71) 7.43
Q1 2022 50.00 (2.39) (2.39) 7.15
Q2 2022 50.00 (2.53) (2.53) 6.74
Q3 2022 50.00 (1.73) (1.73) 6.80
Q4 2022 50.00 (0.83) (0.83) 7.08
Q1 2023 50.00 0.78 0.78 7.94
Q2 2023 50.00 1.33 1.33 8.11
Q3 2023 50.00 0.80 0.80 7.66
Q4 2023 50.00 0.76 0.76 7.80
Q1 2024 50.00 0.11 0.11 8.07
Q2 2024 50.00 (0.05) (0.05) 8.07
Q3 2024 50.00 0.52 0.52 8.17
Q4 2024 50.00 0.54 0.54 8.66
Q1 2025 50.00 0.51 0.51 8.85
Q2 2025 50.00 0.64 0.64 9.03

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E
Q1 2016 More than 100 More than 100
Q2 2016 NEG NEG
Q3 2016 NEG NEG
Q4 2016 NEG NEG
Q1 2017 NEG NEG
Q2 2017 NEG NEG
Q3 2017 NEG NEG
Q4 2017 NEG NEG
Q1 2018 NEG NEG
Q2 2018 NEG NEG
Q3 2018 NEG NEG
Q4 2018 More than 100 More than 100
Q1 2019 NEG NEG
Q2 2019 NEG NEG
Q3 2019 NEG NEG
Q4 2019 More than 100 More than 100
Q1 2020 More than 100 More than 100
Q2 2020 29.78 29.78
Q3 2020 More than 100 More than 100
Q4 2020 More than 100 More than 100
Q1 2021 More than 100 More than 100
Q2 2021 NEG NEG
Q3 2021 NEG NEG
Q4 2021 NEG NEG
Q1 2022 NEG NEG
Q2 2022 NEG NEG
Q3 2022 NEG NEG
Q4 2022 NEG NEG
Q1 2023 16.64 16.64
Q2 2023 15.81 15.81
Q3 2023 26.48 26.48
Q4 2023 22.81 22.81
Q1 2024 More than 100 More than 100
Q2 2024 NEG NEG
Q3 2024 30.68 30.68
Q4 2024 30.53 30.53
Q1 2025 27.99 27.99
Q2 2025 21.85 21.85

Business Segments - Gross Premium Written (Million)

Compared With The
Period Medical Insurance Comprehensive Motor Insurance Property & casualty Insurance - Engineering Marine Other classes
Q1 2016 43.50 1,111.52 21.60 1.98 - 7.83
Q2 2016 12.34 195.22 21.97 4.73 - 18.86
Q3 2016 12.08 452.02 27.57 35.30 - 4.04
Q4 2016 27.24 141.87 1.85 0.56 - 25.78
Q1 2017 46.89 372.48 19.64 2.17 - 6.59
Q2 2017 27.10 97.67 13.76 0.75 - 4.61
Q3 2017 21.18 31.97 3.46 0.87 - 4.62
Q4 2017 33.39 32.15 2.97 0.63 - 4.08
Q1 2018 64.00 274.18 34.26 - - -
Q2 2018 30.24 70.32 29.74 - - -
Q3 2018 84.83 56.15 9.39 - - -
Q4 2018 26.03 40.44 9.51 - - -
Q1 2019 104.92 229.30 46.07 - - -
Q2 2019 48.16 38.15 15.53 - - -
Q3 2019 63.79 79.32 11.22 - - -
Q4 2019 44.89 142.63 11.26 - - -
Q1 2020 112.14 97.84 43.83 - - -
Q2 2020 62.56 130.65 16.41 - - -
Q3 2020 65.57 77.71 10.33 - - -
Q4 2020 54.70 95.40 14.45 - - -
Q1 2021 141.16 119.72 29.45 - - -
Q2 2021 86.04 99.13 10.73 - - -
Q3 2021 96.06 178.01 10.90 - - -
Q4 2021 66.61 95.60 8.71 - - -
Q1 2022 168.54 79.75 38.10 - - -
Q2 2022 126.65 57.08 13.78 - - -
Q3 2022 120.11 125.43 16.38 - - -
Q4 2022 90.15 92.41 16.00 - - -
Q1 2023 202.27 87.84 17.39 6.00 4.06 5.90
Q2 2023 97.04 55.69 7.31 3.59 1.71 8.18
Q3 2023 114.01 59.64 10.53 4.42 4.10 5.96
Q4 2023 84.18 71.07 4.27 5.88 3.30 6.25
Q1 2024 202.64 97.71 9.42 5.43 4.88 7.39
Q2 2024 132.61 116.61 6.55 4.90 1.93 29.06
Q3 2024 129.92 220.97 6.15 4.83 2.95 39.43
Q4 2024 154.33 190.01 5.84 4.25 1.64 26.79
Q1 2025 174.87 251.94 8.45 4.35 0.27 31.53
Q2 2025 116.57 142.41 7.43 2.85 0.94 21.94


Financial Ratios
Current
Market Cap (M Riyal) 451.50
Shares Outstanding (M) 50.00
EPS ( Riyal) (TTM) 0.43
Book Value (BV) ( Riyal) 9.25
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) 20.80
Price/Book 0.98
Return on Average Assets (%) (TTM) 1.7
Return on Average Equity (%) (TTM) 4.8
Return on Market Cap (%) 4.6
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Share Price

Malath Cooperative Insurance Co.
9.03
0.03 0.33 %

Malath Cooperative Insurance Co. (MALATH INSURANCE)

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