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Real Estate Mgmt & Dev't
Food & Beverages
- 9515 - FESH FASH
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The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) posted a 30% fall in its net income for the first nine months of 2024 to SAR 99 million, compared to SAR 140.6 million in the corresponding period of 2023.
Financials (M)
Item | 9m 2023 | 9m 2024 | Change |
---|---|---|---|
Gross Written Premium (GWP) | 2,583.83 | 3,182.01 | 23.2 % |
Insurance Revenues | 2,531.84 | 2,609.95 | 3.1 % |
Net Profit Before Zakat & Tax | 145.56 | 106.81 | (26.6 %) |
Net Income | 140.56 | 98.99 | (29.6 %) |
Average Shares | 105.00 | 105.00 | - |
EPS (Riyals) | 1.34 | 0.94 | (29.6 %) |
The profit drop was attributed to a decline in net investment results for the current period to SAR 59.4 million, from SAR 80.2 million for the same period last year, mostly due to the decrease in the contribution of investments measured with fair value.
Moreover, net insurance service results in the nine-month period dropped to SAR 32.4 million from SAR 62.1 million in 9M 2023, mainly due to the different portfolio structure in medical insurance and the performance of reinsurance operations.
On the other hand, insurance revenues rose to SAR 2.60 billion from SAR 2.53 billion in the first nine months of 2023.
Current Quarter Comparison (M)
Item | Q3 2023 | Q3 2024 | Change |
---|---|---|---|
Gross Written Premium (GWP) | 562.40 | 794.99 | 41.4 % |
Insurance Revenues | 878.36 | 900.42 | 2.5 % |
Net Profit Before Zakat & Tax | 43.79 | 40.42 | (7.7 %) |
Net Income | 39.79 | 39.12 | (1.7 %) |
Average Shares | 105.00 | 105.00 | - |
EPS (Riyals) | 0.38 | 0.37 | (1.7 %) |
Item | Q2 2024 | Q3 2024 | Change |
---|---|---|---|
Gross Written Premium (GWP) | 528.59 | 794.99 | 50.4 % |
Insurance Revenues | 875.91 | 900.42 | 2.8 % |
Net Profit Before Zakat & Tax | 39.12 | 40.42 | 3.3 % |
Net Income | 33.61 | 39.12 | 16.4 % |
Average Shares | 105.00 | 105.00 | - |
EPS (Riyals) | 0.32 | 0.37 | 16.4 % |
The third-quarter net income after Zakat declined by 2% to SAR 39.1 million from SAR 39.7 million in Q3 2023 as insurance revenues grew to SAR 900.4 million from SAR 878.3 million in the first nine months of 2023.
Net income, however, climbed 16.4% from SAR 33.6 million in the previous quarter, thanks to a 2.8% quarter-on-quarter (QoQ) rise in insurance revenues to SAR 900.4 million. Net investment results also leapt 60.44% QoQ to SAR 26.65 million.
Insurance Operations
Item | 9m 2023 | 9m 2024 | Change |
---|---|---|---|
Gross Written Premium (GWP) | 2,583.83 | 3,182.01 | 23.2 % |
Insurance Revenues | 2,531.84 | 2,609.95 | 3.1 % |
Insurance Services Income | 62.12 | 32.44 | (47.8 %) |
Investment Income | 80.20 | 59.41 | (25.9 %) |
Net Profit of Insurance Services and Investment | 134.06 | 87.45 | (34.8 %) |
Total shareholders’ equity, no minority interest, decreased to SAR 1.01 billion as of Sept. 30, 2024, from SAR 840.7 million a year earlier.
Accumulated losses reached SAR 158.13 million by the end of the nine-month period, representing 15.06% of the insurance service provider’s capital.
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- TASI
-
Energy
- 2222 - SAUDI ARAMCO
- 2030 - SARCO
- 2380 - PETRO RABIGH
- 4030 - BAHRI
- 4200 - ALDREES
- 2381 - ARABIAN DRILLING
- 2382 - ADES
- 1201 - TAKWEEN
- 1202 - MEPCO
- 1210 - BCI
- 1211 - MAADEN
- 1301 - ASLAK
- 1304 - ALYAMAMAH STEEL
- 1320 - SSP
- 2001 - CHEMANOL
- 2010 - SABIC
- 2020 - SABIC AGRI-NUTRIENTS
- 2090 - NGC
- 2150 - ZOUJAJ
- 2170 - ALUJAIN
- 2180 - FIPCO
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- 3002 - NAJRAN CEMENT
- 3003 - CITY CEMENT
- 3004 - NORTHERN CEMENT
- 3005 - UACC
- 3010 - ACC
- 3020 - YC
- 3030 - SAUDI CEMENT
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- 3050 - SPCC
- 3060 - YCC
- 3080 - EPCCO
- 3090 - TCC
- 3091 - JOUF CEMENT
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- 2060 - TASNEE
- 3008 - ALKATHIRI
- 3007 - OASIS
- 1321 - EAST PIPES
- 1322 - AMAK
- 2223 - LUBEREF
- 2360 - SVCP
- 1212 - ASTRA INDUSTRIAL
- 1302 - BAWAN
- 1303 - EIC
- 2040 - SAUDI CERAMICS
- 2110 - SAUDI CABLE
- 2160 - AMIANTIT
- 2320 - ALBABTAIN
- 2370 - MESC
- 4140 - SIECO
- 4141 - ALOMRAN
- 4142 - RIYADH CABLES
- 1214 - SHAKER
- 4110 - BATIC
- 4143 - TALCO
- 4031 - SGS
- 4040 - SAPTCO
- 4260 - BUDGET SAUDI
- 2190 - SISCO HOLDING
- 4261 - THEEB
- 4263 - SAL
- 4262 - LUMI
- 1810 - SEERA
- 6013 - DWF
- 1820 - ALHOKAIR GROUP
- 4170 - TECO
- 4290 - ALKHALEEJ TRNG
- 6002 - HERFY FOODS
- 1830 - Leejam Sports
- 6012 - RAYDAN
- 4291 - NCLE
- 4292 - ATAA
- 6014 - ALAMAR
- 6015 - AMERICANA
- 6016 - BURGERIZZR
- 4003 - EXTRA
- 4008 - SACO
- 4050 - SASCO
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- 4240 - CENOMI RETAIL
- 4191 - ABO MOATI
- 4051 - BAAZEEM
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- 4006 - FARM SUPERSTORES
- 4061 - ANAAM HOLDING
- 4160 - THIMAR
- 4161 - BINDAWOOD
- 4162 - ALMUNAJEM
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- 2050 - SAVOLA GROUP
- 2100 - WAFRAH
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- 2280 - ALMARAI
- 6001 - HB
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- 6020 - GACO
- 6040 - TADCO
- 6050 - SFICO
- 6060 - SHARQIYAH DEV
- 6070 - ALJOUF
- 6090 - JAZADCO
- 2281 - TANMIAH
- 2282 - NAQI
- 2283 - FIRST MILLS
- 4080 - SINAD HOLDING
- 2284 - MODERN MILLS
- 2285 - ARABIAN MILLS
- 2286 - FOURTH MILLING
- 4002 - MOUWASAT
- 4004 - DALLAH HEALTH
- 4005 - CARE
- 4007 - ALHAMMADI
- 4009 - SAUDI GERMAN HEALTH
- 2230 - CHEMICAL
- 4013 - SULAIMAN ALHABIB
- 2140 - AYYAN
- 4014 - EQUIPMENT HOUSE
- 4017 - FAKEEH CARE
- 1010 - RIBL
- 1020 - BJAZ
- 1030 - SAIB
- 1050 - BSF
- 1060 - SAB
- 1080 - ANB
- 1120 - ALRAJHI
- 1140 - ALBILAD
- 1150 - ALINMA
- 1180 - SNB
- 2120 - SAIC
- 4280 - KINGDOM
- 4130 - ALBAHA
- 4081 - NAYIFAT
- 1111 - TADAWUL GROUP
- 4082 - MRNA
- 1182 - AMLAK
- 1183 - SHL
- 8010 - TAWUNIYA
- 8012 - JAZIRA TAKAFUL
- 8020 - MALATH INSURANCE
- 8030 - MEDGULF
- 8040 - ALLIANZ SF
- 8050 - SALAMA
- 8060 - WALAA
- 8070 - ARABIAN SHIELD
- 8190 - UCA
- 8230 - ALRAJHI TAKAFUL
- 8280 - LIVA
- 8150 - ACIG
- 8210 - BUPA ARABIA
- 8270 - BURUJ
- 8180 - ALSAGR INSURANCE
- 8170 - ALETIHAD
- 8100 - SAICO
- 8120 - GULF UNION ALAHLIA
- 8200 - SAUDI RE
- 8160 - AICC
- 8250 - GIG
- 8240 - CHUBB
- 8260 - GULF GENERAL
- 8300 - WATANIYA
- 8310 - AMANA INSURANCE
- 8311 - ENAYA
- 8313 - RASAN
- 4330 - RIYAD REIT
- 4331 - ALJAZIRA REIT
- 4332 - JADWA REIT ALHARAMAIN
- 4333 - TALEEM REIT
- 4334 - AL MAATHER REIT
- 4335 - MUSHARAKA REIT
- 4336 - MULKIA REIT
- 4338 - ALAHLI REIT 1
- 4337 - SICO SAUDI REIT
- 4342 - JADWA REIT SAUDI
- 4340 - Al RAJHI REIT
- 4339 - DERAYAH REIT
- 4344 - SEDCO CAPITAL REIT
- 4347 - BONYAN REIT
- 4345 - ALINMA RETAIL REIT
- 4346 - MEFIC REIT
- 4348 - ALKHABEER REIT
- 4349 - ALINMA HOSPITALITY REIT
- 4350 - ALISTITHMAR REIT
- 4020 - ALAKARIA
- 4323 - SUMOU
- 4090 - TAIBA
- 4100 - MCDC
- 4150 - ARDCO
- 4220 - EMAAR EC
- 4230 - RED SEA
- 4250 - JABAL OMAR
- 4300 - DAR ALARKAN
- 4310 - KEC
- 4320 - ALANDALUS
- 4321 - CENOMI CENTERS
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- NOMU
-
Real Estate Mgmt & Dev't
Food & Beverages
- 9515 - FESH FASH
- 9532 - ALJOUF WATER
- 9536 - FADECO
- 9556 - NOFOTH
- 9559 - BALADY
- 9564 - HORIZON FOOD
- 9555 - LEEN ALKHAIR
- 9612 - SAMA WATER
- 9518 - CMCER
- 9530 - TIBBIYAH
- 9527 - AME
- 9544 - FUTURE CARE
- 9546 - NABA ALSAHA
- 9574 - PRO MEDEX
- 9594 - ALMODAWAT
- 9572 - ALRAZI
- 9587 - LANA
- 9600 - QOMEL
- 9604 - MIRAL
- 9513 - WATANI STEEL
- 9514 - ALNAQOOL
- 9523 - GROUP FIVE
- 9539 - AQASEEM
- 9548 - APICO
- 9553 - MOLAN
- 9565 - MEYAR
- 9552 - SAUDI TOP
- 9563 - BENA
- 9566 - LIME INDUSTRIES
- 9580 - ALRASHID INDUSTRIAL
- 9583 - UNITED MINING
- 9576 - PAPER HOME
- 9588 - RIYADH STEEL
- 9575 - MARBLE DESIGN
- 9599 - TAQAT
- 9601 - ALRASHEED
- 9605 - NEFT ALSHARQ
- 9607 - ASG
- 9609 - NAAS PETROL
- 9510 - NBM
- 9528 - GAS
- 9531 - OBEIKAN GLASS
- 9533 - SPC
- 9529 - RAOOM
- 9525 - ALWASAIL INDUSTRIAL
- 9542 - KEIR
- 9547 - RAWASI
- 9568 - MAYAR
- 9569 - ALMUNEEF
- 9578 - ATLAS ELEVATORS
- 9560 - WAJA
- 9611 - UFG
- 9540 - TADWEEER
- 9545 - ALDAWLIAH
- 9570 - TAM DEVELOPMENT
- 9581 - CLEAN LIFE
- 9593 - PAN GULF
- 9597 - LEAF
- 9608 - ALASHGHAL ALMOYSRA
- 9606 - THARWAH
- 9613 - SHALFA
- 9541 - ACADEMY OF LEARNING
- 9562 - FOOD GATE
- 9590 - ARMAH
- 9526 - JAHEZ
- 9598 - ALMOHAFAZA FOR EDUCATION
- 9603 - HORIZON EDUCATIONAL
- 9567 - GHIDA ALSULTAN
Share Price
The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF)
Current | |
Market Cap (M) | 2,440.20 |
Shares Outstanding (M) | 105.00 |
EPS ( Riyal) (TTM) | 1.52 |
Book Value (BV) ( Riyal) | 9.68 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 15.26 |
P/E (TTM) | 15.26 |
Price/Book | 2.40 |
Return on Average Assets (%) (TTM) | 4.8 |
Return on Average Equity (%) (TTM) | 17.2 |
Return on Market Cap (%) | 6.4 |
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