Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Fardan AlFardan was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 20
First quarter 2026 earnings released: د.إ0.007 loss per share (vs د.إ0.071 loss in 1Q 2025) First quarter 2026 results: د.إ0.007 loss per share (improved from د.إ0.071 loss in 1Q 2025). Revenue: د.إ124.5m (up 64% from 1Q 2025). Net loss: د.إ1.25m (loss narrowed 89% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Apr 02
United Fidelity Insurance Company (P.S.C.), Annual General Meeting, Apr 30, 2026 United Fidelity Insurance Company (P.S.C.), Annual General Meeting, Apr 30, 2026, at 12:00 Arabian Standard Time. Location: dubai United Arab Emirates Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: د.إ0.036 (vs د.إ0.40 loss in FY 2024) Full year 2025 results: EPS: د.إ0.036 (up from د.إ0.40 loss in FY 2024). Revenue: د.إ579.0m (up 94% from FY 2024). Net income: د.إ5.77m (up د.إ70.2m from FY 2024). Profit margin: 1.0% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Mar 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 75% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (د.إ286.9m market cap, or US$78.1m). Board Change • Feb 25
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Fardan AlFardan was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Feb 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Fardan AlFardan was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • May 28
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Vice Chairman Ricardo Sleiman was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Apr 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -د.إ100m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-د.إ100m free cash flow). Earnings have declined by 71% per year over the past 5 years. Minor Risk Market cap is less than US$100m (د.إ256.0m market cap, or US$69.7m). Announcement • Mar 25
United Fidelity Insurance Company (P.S.C.), Annual General Meeting, Apr 30, 2025 United Fidelity Insurance Company (P.S.C.), Annual General Meeting, Apr 30, 2025. Announcement • Mar 20
United Fidelity Insurance Company (P.S.C.) to Report Q4, 2024 Results on Mar 24, 2025 United Fidelity Insurance Company (P.S.C.) announced that they will report Q4, 2024 results on Mar 24, 2025 Board Change • Mar 06
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Vice Chairman Ricardo Sleiman was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 17
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Vice Chairman Ricardo Sleiman was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 19
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Vice Chairman Ricardo Sleiman was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 16
Third quarter 2024 earnings released: د.إ0.03 loss per share (vs د.إ0.015 loss in 3Q 2023) Third quarter 2024 results: د.إ0.03 loss per share (further deteriorated from د.إ0.015 loss in 3Q 2023). Revenue: د.إ89.9m (down 42% from 3Q 2023). Net loss: د.إ4.80m (loss widened 99% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 16
Second quarter 2024 earnings released: د.إ0.081 loss per share (vs د.إ0.032 loss in 2Q 2023) Second quarter 2024 results: د.إ0.081 loss per share (further deteriorated from د.إ0.032 loss in 2Q 2023). Revenue: د.إ81.1m (down 59% from 2Q 2023). Net loss: د.إ12.9m (loss widened 152% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • Aug 11
United Fidelity Insurance Company (P.S.C.) to Report Q2, 2024 Results on Aug 14, 2024 United Fidelity Insurance Company (P.S.C.) announced that they will report Q2, 2024 results on Aug 14, 2024 Reported Earnings • May 17
First quarter 2024 earnings released: EPS: د.إ0.019 (vs د.إ0.038 loss in 1Q 2023) First quarter 2024 results: EPS: د.إ0.019 (up from د.إ0.038 loss in 1Q 2023). Revenue: د.إ85.7m (up 30% from 1Q 2023). Net income: د.إ3.00m (up د.إ8.99m from 1Q 2023). Profit margin: 3.5% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Mar 28
United Fidelity Insurance Company (P.S.C.), Annual General Meeting, Apr 23, 2024 United Fidelity Insurance Company (P.S.C.), Annual General Meeting, Apr 23, 2024, at 08:00 Coordinated Universal Time. Location: Office B703, Block B, The Opus Tower Business Bay, P.O. Box 1888 Dubai United Arab Emirates Agenda: To review and approve the report of the Board of Directors on the Company's activities and its financial position for the year ended 31st December 2023; to Review and approve the report of the Auditor on the financial position of the Company for the financial year ended 31st December 2023; to Discuss and approve the Company's balance sheet and its profit and loss accounts for the financial year ended 31st December 2023; to Consider and approve the proposal of the Board of Directors not to distribute cash dividends for the financial year ended 31st December 2023; to Discharge the Board of Directors of liability for their activities for the financial year ended 31st December 2023; to Discharge the External Auditors of liability for their activities for the financial year ended 31st December 2023; to Appoint External Auditors for the financial year 2024 and determine their remuneration. Reported Earnings • Mar 23
Full year 2023 earnings released: د.إ0.11 loss per share (vs د.إ0.006 profit in FY 2022) Full year 2023 results: د.إ0.11 loss per share (down from د.إ0.006 profit in FY 2022). Revenue: د.إ581.8m (up 166% from FY 2022). Net loss: د.إ290.5m (down د.إ291.2m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Feb 23
United Fidelity Insurance Company (P.S.C.) to Report Fiscal Year 2023 Results on Feb 27, 2024 United Fidelity Insurance Company (P.S.C.) announced that they will report fiscal year 2023 results on Feb 27, 2024 Reported Earnings • Nov 17
Third quarter 2023 earnings released: د.إ0.015 loss per share (vs د.إ0.002 profit in 3Q 2022) Third quarter 2023 results: د.إ0.015 loss per share (down from د.إ0.002 profit in 3Q 2022). Revenue: د.إ153.8m (up 192% from 3Q 2022). Net loss: د.إ2.41m (down د.إ2.61m from profit in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 06
Second quarter 2023 earnings released: د.إ0.032 loss per share (vs د.إ0.004 profit in 2Q 2022) Second quarter 2023 results: د.إ0.032 loss per share (down from د.إ0.004 profit in 2Q 2022). Revenue: د.إ109.3m (up 115% from 2Q 2022). Net loss: د.إ5.14m (down د.إ5.71m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
First quarter 2023 earnings released: د.إ0.037 loss per share (vs د.إ0.003 profit in 1Q 2022) First quarter 2023 results: د.إ0.037 loss per share (down from د.إ0.003 profit in 1Q 2022). Revenue: د.إ138.4m (up 144% from 1Q 2022). Net loss: د.إ5.99m (down د.إ6.53m from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: د.إ0.006 (vs د.إ0.08 in FY 2021) Full year 2022 results: EPS: د.إ0.006 (down from د.إ0.08 in FY 2021). Revenue: د.إ218.5m (down 11% from FY 2021). Net income: د.إ683.2k (down 92% from FY 2021). Profit margin: 0.3% (down from 3.3% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Nov 16
United Fidelity Insurance Company (P.S.C.), Annual General Meeting, Dec 06, 2022 United Fidelity Insurance Company (P.S.C.), Annual General Meeting, Dec 06, 2022, at 08:00 Coordinated Universal Time. Location: Office B703, Block B, The Opus Tower Business Bay, P.O. Box 1888 Dubai United Arab Emirates Agenda: To amend article of the Company's Articles of Association. Board Change • Nov 16
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Director Fadi Eddin Cherkawi was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: د.إ0.006 (vs د.إ0.018 in 2Q 2021) Second quarter 2022 results: EPS: د.إ0.006 (down from د.إ0.018 in 2Q 2021). Revenue: د.إ50.8m (down 16% from 2Q 2021). Net income: د.إ573.1k (down 67% from 2Q 2021). Profit margin: 1.1% (down from 2.9% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: د.إ0.003 (vs د.إ0.038 in 1Q 2021) First quarter 2022 results: EPS: د.إ0.003 (down from د.إ0.038 in 1Q 2021). Revenue: د.إ56.8m (flat on 1Q 2021). Net income: د.إ541.3k (down 86% from 1Q 2021). Profit margin: 1.0% (down from 6.8% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Director Fadi Eddin Cherkawi was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 06
United Fidelity Insurance Company (PSC), Annual General Meeting, Apr 27, 2022 United Fidelity Insurance Company (PSC), Annual General Meeting, Apr 27, 2022, at 09:00 Coordinated Universal Time. Agenda: To review and approve the report of the board of directors on the company's activities and its financial position for the year ended 31st December 2021; to review and approve the report of the Auditor on the financial position of the company for the financial year ended 31st December 2021; to discuss and approve the company's balance sheet and its profit and loss accounts for the financial year ended 31st December 2021; to consider and approve the proposal of the Board of Directors not to distribute cash dividends for the financial year ended 31st December 2021; to discharge the board of directors of liability for their activities for the financial year ended 31st December 2021; to discharge the External Auditors of liability for their activities for the financial year ended 31st December 2021; and to appoint external auditors for the financial year 2022 and determine their remuneration. Reported Earnings • Feb 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: د.إ0.08 (up from د.إ0.036 in FY 2020). Revenue: د.إ383.8m (up 127% from FY 2020). Net income: د.إ8.04m (up 122% from FY 2020). Profit margin: 2.1% (in line with FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS د.إ0.004 (vs د.إ0.011 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: د.إ61.6m (up 41% from 3Q 2020). Net income: د.إ424.3k (down 60% from 3Q 2020). Profit margin: 0.7% (down from 2.4% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 10
Second quarter 2021 earnings released: EPS د.إ0.018 (vs د.إ0.011 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: د.إ60.5m (up 59% from 2Q 2020). Net income: د.إ1.76m (up 67% from 2Q 2020). Profit margin: 2.9% (up from 2.8% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 04
First quarter 2021 earnings released: EPS د.إ0.038 (vs د.إ0.005 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: د.إ56.5m (up 52% from 1Q 2020). Net income: د.إ3.84m (up د.إ3.30m from 1Q 2020). Profit margin: 6.8% (up from 1.5% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Apr 01
United Fidelity Insurance Company (PSC) announced that it expects to receive AED 60 million in funding United Fidelity Insurance Company (PSC) (ADX:FIDELITYUNITED) announced a private placement of common shares for gross proceeds of AED 60,000,000 on March 30, 2021. The transaction was approved by the board of directors of the company. Reported Earnings • Feb 17
Full year 2020 earnings released: EPS د.إ0.036 (vs د.إ0.014 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: د.إ352.7m (up 250% from FY 2019). Net income: د.إ3.62m (up 157% from FY 2019). Profit margin: 1.0% (down from 1.4% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 