LIVA 9M 2024 earnings rise to SAR 22M; Q3 at SAR 10.7M

05/11/2024 Argaam Exclusive
LIVA Insurance Co. recorded a net profit of SAR 22 million in 9M 2024, up from SAR 4.6 million a year before.


Financials (M)

Item 9m 2023 9m 2024 Change‬
Insurance Revenues 382.90 328.33 (14.3 %)
Net Profit Before Zakat & Tax 9.96 27.12 172.4 %
Net Income 4.61 21.97 376.8 %
Average Shares 40.00 40.00 -
EPS (Riyals) 0.12 0.55 376.8 %

The total insurance service result reached SAR 23.47 million during the current period, soaring 167% from SAR 8.79 million a year before.

 

Total investment income leapt 33% year-on-year (YoY) to SAR 23.21 million.

 

The insurance service expenses fell 21% YoY to SAR 268.27 million.

 

Meanwhile, the insurance revenue decreased by 14% (SAR 54.56 million), mainly due to a decline in the motor business.

 

Other operating expenses rose 21% YoY to SAR 16.63 million.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Insurance Revenues 113.65 114.99 1.2 %
Net Profit Before Zakat & Tax 4.63 12.03 159.6 %
Net Income 2.63 10.72 306.9 %
Average Shares 40.00 40.00 -
EPS (Riyals) 0.07 0.27 306.9 %

Q3 2024 earnings reached SAR 10.7 million, soaring from SAR 2.63 million in Q3 2023, driven by a 1% (SAR 1.34 million) rise YoY in the insurance revenue.

 

The third-quarter net earnings also leapt 62.3% from SAR 6.60 million in Q2 2024.

Insurance Operations

Item 9m 2023 9m 2024 Change‬
Insurance Revenues 382.90 328.33 (14.3 %)
Insurance Services Income 8.79 23.37 165.9 %
Investment Income 17.42 23.21 33.2 %
Net Profit of Insurance Services and Investment 23.70 43.66 84.2 %

Shareholders’ equity, no minority interest, reached SAR 411.95 million as of Sept. 30, 2024, up from SAR 379.76 million in the year-earlier period.

 

Accumulated losses reached SAR 33.18 million by the end of the nine-month period, representing 8.3% of the company’s capital.

 

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Share Price

LIVA Insurance Co.
16.44
(0.02) (0.12 %)

LIVA Insurance Co. (LIVA)

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Financial Ratios
Current
Market Cap (M) 657.60
Shares Outstanding (M) 40.00
EPS ( Riyal) (TTM) 0.72
Book Value (BV) ( Riyal) 10.30
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 22.98
P/E (TTM) 22.98
Price/Book 1.60
Return on Average Assets (%) (TTM) 3.4
Return on Average Equity (%) (TTM) 7.2
Return on Market Cap (%) 3.8
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