Announcement • Sep 19
Methaq Takaful Insurance P.S.C. to Report Fiscal Year 2024 Results on Sep 22, 2025 Methaq Takaful Insurance P.S.C. announced that they will report fiscal year 2024 results at 2:00 PM, Arabian Standard Time on Sep 22, 2025 Board Change • Dec 17
No independent directors There are 11 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. No independent directors (9 non-independent directors). Chairman Ahmad Humaid Almazrouei is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Nov 19
No independent directors There are 11 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. No independent directors (9 non-independent directors). Chairman Ahmad Humaid Almazrouei is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings have declined by 84% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-د.إ456m). Earnings have declined by 84% per year over the past 5 years. Minor Risk Market cap is less than US$100m (د.إ96.8m market cap, or US$26.3m). New Risk • Jul 27
New major risk - Negative shareholders equity The company has negative equity. Total equity: -د.إ229m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risk Negative equity (-د.إ229m). Minor Risk Market cap is less than US$100m (د.إ96.8m market cap, or US$26.3m). New Risk • Mar 31
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2022. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2022 fiscal period end). Debt is not well covered by operating cash flow (1.7% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (د.إ96.8m market cap, or US$26.3m). New Risk • Oct 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.7% operating cash flow to total debt). Earnings have declined by 32% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (د.إ96.8m market cap, or US$26.3m). Board Change • Nov 16
No independent directors There are 8 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Chairman Ahmad Humaid Almazrouei is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 07
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: د.إ96.4m (up 62% from 2Q 2021). Net loss: د.إ12.5m (loss narrowed 11% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Reported Earnings • May 26
First quarter 2022 earnings released: د.إ0.05 loss per share (vs د.إ0.084 profit in 1Q 2021) First quarter 2022 results: د.إ0.05 loss per share (down from د.إ0.084 profit in 1Q 2021). Revenue: د.إ84.4m (up 99% from 1Q 2021). Net loss: د.إ7.53m (down 160% from profit in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • May 02
Methaq Takaful Insurance P.S.C., Annual General Meeting, Apr 29, 2022 Methaq Takaful Insurance P.S.C., Annual General Meeting, Apr 29, 2022. Agenda: To consider the report of the Sharia supervisory committee; to appoint members of the Sharia supervisory committee; to reappointed the auditors M/s. Talal Abu Ghazaleh & Co. International, for the financial year which will be ended on 31 December 2022 and determine their remuneration; and to consider the appointment and election of directors. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). VP, MD & Director Musallam Al Blooshi is the most experienced director on the board, commencing their role in 2019. Independent Director Yaser Salem Saleh Alsaedi was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 23% share price gain to د.إ1.06, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 8x in the Insurance industry in United Arab Emirates. Total returns to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improved over the past week After last week's 15% share price gain to د.إ1.06, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 9x in the Insurance industry in United Arab Emirates. Total returns to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improved over the past week After last week's 30% share price gain to د.إ1.05, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 9x in the Insurance industry in United Arab Emirates. Total returns to shareholders of 38% over the past three years. Reported Earnings • May 17
First quarter 2021 earnings released: EPS د.إ0.084 (vs د.إ0.054 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: د.إ62.2m (up 47% from 1Q 2020). Net income: د.إ12.6m (up 57% from 1Q 2020). Profit margin: 20% (up from 19% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Mar 22
Full year 2020 earnings released: EPS د.إ0.055 (vs د.إ0.026 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: د.إ244.8m (up 24% from FY 2019). Net income: د.إ8.23m (up 112% from FY 2019). Profit margin: 3.4% (up from 2.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Mar 19
Methaq Takaful Insurance Company PSC announced that it expects to receive AED 400 million in funding Methaq Takaful Insurance Company PSC (ADX:METHAQ) announced a private placement of common shares for minimum gross proceeds of AED 150,000,000 to maximum gross proceeds of up to AED 400,000,000 on March 18, 2021. The transaction was approved by the board of directors of the company. Is New 90 Day High Low • Mar 09
New 90-day low: د.إ0.82 The company is down 9.0% from its price of د.إ0.90 on 09 December 2020. The Emirian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is down 1.0% over the same period. Is New 90 Day High Low • Nov 11
New 90-day high: د.إ0.89 The company is up 50% from its price of د.إ0.59 on 13 August 2020. The Emirian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 11% over the same period. Is New 90 Day High Low • Oct 26
New 90-day high: د.إ0.79 The company is up 45% from its price of د.إ0.55 on 28 July 2020. The Emirian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 11% over the same period. Announcement • Jul 26
Methaq Takaful Insurance Company PSC to Report Q1, 2020 Results on Jun 25, 2020 Methaq Takaful Insurance Company PSC announced that they will report Q1, 2020 results on Jun 25, 2020