Stock KUWAITRE KUWAIT REINSURANCE COMPANY K.S.C.P.
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Financials Kuwait Reinsurance Company K.S.C.P.

Equities

KUWAITRE

KW0EQ0300453

Reinsurance

End-of-day quote Kuwait S.E.
Other stock markets
 06:00:00 2024-04-24 pm EDT 		5-day change 1st Jan Change
0.464 KWD 0.00% Intraday chart for Kuwait Reinsurance Company K.S.C.P. 0.00% +20.52%
Feb. 15 Kuwait Reinsurance Company K.S.C.P. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 Kuwait Reinsurance Company K.S.C.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 34.49 27.92 42.29 60.1 68.61 99.96
Enterprise Value (EV) 1 29.79 23.34 35.22 54.2 63.95 94.84
P/E ratio 10.2 x 5.91 x 8.08 x 9.51 x 8.61 x 9.23 x
Yield 2.56% 3.35% 2.39% 1.81% 2.08% 1.82%
Capitalization / Revenue 0.84 x 0.57 x 0.78 x 0.91 x 0.99 x 1.29 x
EV / Revenue 0.73 x 0.48 x 0.65 x 0.82 x 0.92 x 1.22 x
EV / EBITDA 7.26 x 4.61 x 6.83 x 7.52 x 7.22 x 8.18 x
EV / FCF 6.96 x -3.68 x 2.25 x 2.51 x 5.47 x -8.48 x
FCF Yield 14.4% -27.2% 44.4% 39.8% 18.3% -11.8%
Price to Book 0.71 x 0.52 x 0.74 x 0.95 x 0.99 x 1.25 x
Nbr of stocks (in thousands) 259,854 259,681 259,660 259,660 259,659 259,645
Reference price 2 0.1327 0.1075 0.1629 0.2315 0.2642 0.3850
Announcement Date 2/18/19 2/13/20 2/18/21 2/17/22 2/16/23 2/15/24
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 41.04 48.73 53.93 66.4 69.63 77.51
EBITDA 1 4.104 5.061 5.159 7.212 8.852 11.59
EBIT 1 4.012 4.957 5.046 7.12 8.791 11.53
Operating Margin 9.77% 10.17% 9.36% 10.72% 12.63% 14.88%
Earnings before Tax (EBT) 1 3.408 4.778 5.29 6.389 8.055 10.97
Net income 1 3.371 4.727 5.234 6.317 7.97 10.83
Net margin 8.21% 9.7% 9.71% 9.51% 11.45% 13.98%
EPS 2 0.0130 0.0182 0.0202 0.0243 0.0307 0.0417
Free Cash Flow 1 4.279 -6.341 15.65 21.58 11.69 -11.18
FCF margin 10.42% -13.01% 29.02% 32.5% 16.79% -14.43%
FCF Conversion (EBITDA) 104.25% - 303.39% 299.28% 132.03% -
FCF Conversion (Net income) 126.94% - 299.03% 341.65% 146.64% -
Dividend per Share 2 0.003400 0.003600 0.003900 0.004200 0.005500 0.007000
Announcement Date 2/18/19 2/13/20 2/18/21 2/17/22 2/16/23 2/15/24
1KWD in Million2KWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 4.7 4.58 7.07 5.9 4.65 5.12
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 4.28 -6.34 15.7 21.6 11.7 -11.2
ROE (net income / shareholders' equity) 7.14% 9.26% 9.5% 10.5% 12% 14.4%
ROA (Net income/ Total Assets) 2.04% 2.22% 2.03% 2.52% 2.71% 4.01%
Assets 1 165.2 212.8 257.8 250.4 293.9 270.3
Book Value Per Share 2 0.1900 0.2100 0.2200 0.2400 0.2700 0.3100
Cash Flow per Share 2 0.0200 0.0200 0.0300 0.0200 0.0200 0.0200
Capex 1 0.05 0.05 0.09 0 0.02 0.03
Capex / Sales 0.11% 0.1% 0.17% 0.01% 0.03% 0.04%
Announcement Date 2/18/19 2/13/20 2/18/21 2/17/22 2/16/23 2/15/24
1KWD in Million2KWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Property & Casualty Reinsurance

1st Jan change Capi.
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Property & Casualty Reinsurance
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