Stock ARIG ARAB INSURANCE GROUP (B.S.C.)
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Financials Arab Insurance Group (B.S.C.)

Equities

ARIG

BH0009114776

Property & Casualty Insurance

End-of-day quote Bahrain Bourse
Other stock markets
 04:30:00 31/03/2024 am IST 		5-day change 1st Jan Change
1.045 USD +0.48% Intraday chart for Arab Insurance Group (B.S.C.) -.--% +30.62%
13/03 Lepercq Multi-Asset Fund managed by Lepercq de Neuflize & Co and Callaway Capital Management, LLC completed the acquisition of 13.85% stake in Arab Insurance Group (B.S.C.) (BAX : ARIG) from Emirates Investment Authority for $16.1 million. CI
27/02 Arab Insurance Group (B.S.C.) Recommends Dividend for Year Ended 31 December 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 82.18 55.45 76.24 92.08 87.17 158.5
Enterprise Value (EV) 1 -20.72 -4.446 12.81 51.62 24.93 118.1
P/E ratio -1.49 x 3.16 x 5.62 x 3.83 x 4.44 x 11.3 x
Yield - - - 5.38% 11.4% 25%
Capitalization / Revenue 0.37 x 0.28 x 1.04 x 3.93 x 30.3 x 14 x
EV / Revenue -0.09 x -0.02 x 0.17 x 2.21 x 8.67 x 10.4 x
EV / EBITDA 0.63 x -0.23 x 1.71 x 2.12 x 1.71 x 10.8 x
EV / FCF -1.21 x -0.15 x 2.49 x 2.33 x -2.45 x 33.1 x
FCF Yield -82.8% -653% 40.1% 42.9% -40.8% 3.02%
Price to Book 0.42 x 0.24 x 0.31 x 0.35 x 0.33 x 0.54 x
Nbr of stocks (in thousands) 1,98,032 1,98,032 1,98,032 1,98,032 1,98,115 1,98,115
Reference price 2 0.4150 0.2800 0.3850 0.4650 0.4400 0.8000
Announcement Date 14/02/19 16/02/20 21/02/21 15/02/22 28/02/23 27/02/24
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 224 199.9 73.4 23.41 2.876 11.35
EBITDA 1 -32.77 18.95 7.492 24.3 14.56 10.95
EBIT 1 -33.71 18.25 6.874 23.72 14.07 10.44
Operating Margin -15.05% 9.13% 9.36% 101.32% 489.29% 91.98%
Earnings before Tax (EBT) 1 -52.2 18.43 12.67 24.41 19.91 14.32
Net income 1 -55.25 17.53 13.56 24.06 19.63 13.98
Net margin -24.67% 8.77% 18.47% 102.81% 682.61% 123.12%
EPS 2 -0.2790 0.0885 0.0685 0.1215 0.0991 0.0706
Free Cash Flow 1 17.16 29.05 5.136 22.15 -10.16 3.567
FCF margin 7.66% 14.53% 7% 94.62% -353.41% 31.42%
FCF Conversion (EBITDA) - 153.31% 68.56% 91.17% - 32.56%
FCF Conversion (Net income) - 165.73% 37.88% 92.04% - 25.52%
Dividend per Share - - - 0.0250 0.0500 0.2000
Announcement Date 14/02/19 16/02/20 21/02/21 15/02/22 28/02/23 27/02/24
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 103 59.9 63.4 40.5 62.2 40.4
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 17.2 29 5.14 22.1 -10.2 3.57
ROE (net income / shareholders' equity) -20.6% 7.82% 4.98% 9.02% 7.16% 4.72%
ROA (Net income/ Total Assets) -1.97% 1.09% 0.47% 2.11% 1.65% 1.57%
Assets 1 2,804 1,605 2,882 1,140 1,190 892.5
Book Value Per Share 2 0.9900 1.150 1.240 1.340 1.340 1.490
Cash Flow per Share 2 0.5600 0.3400 0.3200 0.2000 0.3100 0.2000
Capex 1 0.1 0 0.03 0.01 0.03 -
Capex / Sales 0.05% 0% 0.04% 0.02% 1.15% -
Announcement Date 14/02/19 16/02/20 21/02/21 15/02/22 28/02/23 27/02/24
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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