Announcement • May 07
Atlantic Insurance Company Public Limited, Annual General Meeting, Jun 03, 2026 Atlantic Insurance Company Public Limited, Annual General Meeting, Jun 03, 2026, at 17:00 GTB Standard Time. Location: zenios pyrishis training centre, company`s headquarters, 15 esperidon street, 2001 strovolos, Cyprus New Risk • Apr 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 379% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (379% accrual ratio). Revenue is less than US$1m. Minor Risk Dividend is not well covered by cash flows (91% cash payout ratio). Reported Earnings • Apr 08
Full year 2025 earnings released: EPS: €0.52 (vs €0.35 in FY 2024) Full year 2025 results: EPS: €0.52 (up from €0.35 in FY 2024). Revenue: €25.9m (down 15% from FY 2024). Net income: €20.2m (up 49% from FY 2024). Profit margin: 78% (up from 44% in FY 2024). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Mar 26
Atlantic Insurance Company Public Limited to Report Fiscal Year 2025 Results on Apr 03, 2026 Atlantic Insurance Company Public Limited announced that they will report fiscal year 2025 results at 10:30 AM, GTB Standard Time on Apr 03, 2026 New Risk • Mar 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by cash flows (dividend per share is over 8x cash flows per share). New Risk • Mar 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €86.5m (US$100.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 8x cash flows per share). Market cap is less than US$100m (€86.5m market cap, or US$100.0m). New Risk • Oct 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €86.5m (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 8x cash flows per share). Large one-off items impacting financial results. Market cap is less than US$100m (€86.5m market cap, or US$99.9m). Upcoming Dividend • Sep 30
Upcoming dividend of €0.14 per share Eligible shareholders must have bought the stock before 07 October 2025. Payment date: 03 November 2025. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 6.0%. Within top quartile of Cypriot dividend payers (5.1%). Higher than average of industry peers (3.4%). Announcement • Aug 22
Atlantic Insurance Company Public Limited to Report First Half, 2025 Results on Sep 03, 2025 Atlantic Insurance Company Public Limited announced that they will report first half, 2025 results on Sep 03, 2025 Reported Earnings • Apr 11
Full year 2024 earnings released: EPS: €0.35 (vs €0.33 in FY 2023) Full year 2024 results: EPS: €0.35 (up from €0.33 in FY 2023). Revenue: €24.0m (down 17% from FY 2023). Net income: €13.5m (up 5.8% from FY 2023). Profit margin: 56% (up from 45% in FY 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Apr 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Feb 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Cypriot stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €2.86, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 11x in the Insurance industry in Asia. Total returns to shareholders of 103% over the past three years. Reported Earnings • Sep 26
First half 2024 earnings released: EPS: €0.14 (vs €0.17 in 1H 2023) First half 2024 results: EPS: €0.14 (down from €0.17 in 1H 2023). Revenue: €12.4m (up 13% from 1H 2023). Net income: €5.26m (down 19% from 1H 2023). Profit margin: 43% (down from 59% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jun 09
Dividend of €0.14 announced Shareholders will receive a dividend of €0.14. Ex-date: 11th June 2024 Payment date: 1st July 2024 Dividend yield will be 6.7%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but not covered by cash flows (127% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 49% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 11
Atlantic Insurance Company Public Limited, Annual General Meeting, Jun 05, 2024 Atlantic Insurance Company Public Limited, Annual General Meeting, Jun 05, 2024, at 17:00 GTB Standard Time. Location: zenios pyrishis training centre, at the companys headquarters, 15 esperidon street, 2001strovolos, Cyprus Reported Earnings • Apr 09
Full year 2023 earnings released: EPS: €0.33 (vs €0.14 in FY 2022) Full year 2023 results: EPS: €0.33 (up from €0.14 in FY 2022). Revenue: €21.3m (down 2.2% from FY 2022). Net income: €12.8m (up 130% from FY 2022). Profit margin: 60% (up from 26% in FY 2022). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year. New Risk • Mar 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Cypriot stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (102% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (€74.8m market cap, or US$80.7m). New Risk • Oct 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 66% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (101% cash payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (€66.2m market cap, or US$70.0m). Upcoming Dividend • Jun 01
Upcoming dividend of €0.12 per share at 7.0% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 26 June 2023. Payout ratio and cash payout ratio are on the higher end at 84% and 99% respectively. Trailing yield: 7.0%. Within top quartile of Cypriot dividend payers (7.0%). Higher than average of industry peers (3.9%). Reported Earnings • Apr 11
Full year 2022 earnings released: EPS: €0.14 (vs €0.30 in FY 2021) Full year 2022 results: EPS: €0.14 (down from €0.30 in FY 2021). Revenue: €20.4m (down 26% from FY 2021). Net income: €5.56m (down 53% from FY 2021). Profit margin: 27% (down from 43% 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 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 23
Now 21% undervalued Over the last 90 days, the stock is up 4.0%. The fair value is estimated to be €1.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 36%. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Non-Executive Independent Director George Koutsos was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 14
First half 2022 earnings released: EPS: €0.037 (vs €0.17 in 1H 2021) First half 2022 results: EPS: €0.037 (down from €0.17 in 1H 2021). Revenue: €10.1m (down 26% from 1H 2021). Net income: €1.44m (down 78% from 1H 2021). Profit margin: 14% (down from 48% in 1H 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Jul 20
Atlantic Insurance Company Public Limited Provides Earnings Guidance for the First Half of 2022 Atlantic Insurance Company Public Limited provided earnings guidance for the first half of 2022. For the period, the company expected that the results will be decreased compared to the corresponding period of last year, mainly due to the losses in the Company's investment portfolio, as against investment profits in 2021. Announcement • May 28
Atlantic Insurance Company Public Limited Approves Dividend, Payable on 27 June 2022 Atlantic Insurance Company Public Limited announced at annual general meeting held on May 25, 2022, the shareholders approved the proposal of the Board of Directors for payment of total dividend of 12.00 cents per share of a nominal value of €0.34, which comprises an ordinary dividend of 8.50 cents and a special dividend of 3.50 cents which resulted from the high profitability of the company's investment portfolio. The dividend equals a dividend yield of 6.0% on the average closing price of the share on 25 May 2022. The record date for the dividend is 10 June 2022. The shareholders registered in the Register of Shareholders on record date or who will be holders of securities (recipients) based on off-exchange transactions to be completed by the record date will also be entitled to dividend. Therefore, the ex-dividend date is 9 June 2022. The dividend will be paid and posted to the beneficiaries on 27 June 2022 (Payment Date). Announcement • May 27
Atlantic Insurance Company Public Limited Approves Special Dividend, Payable on 27 June 2022 Atlantic Insurance Company Public Limited announced at annual general meeting held on May 25, 2022, the shareholders approved the proposal of the Board of Directors for payment of total dividend of 12.00 cents per share of a nominal value of €0.34, which comprises an ordinary dividend of 8.50 cents and a special dividend of 3.50 cents which resulted from the high profitability of the company's investment portfolio. The dividend equals a dividend yield of 6.0% on the average closing price of the share on 25 May 2022. The record date for the dividend is 10 June 2022. The shareholders registered in the Register of Shareholders on record date or who will be holders of securities (recipients) based on off-exchange transactions to be completed by the record date will also be entitled to dividend. Therefore, the ex-dividend date is 9 June 2022. The dividend will be paid and posted to the beneficiaries on 27 June 2022 (Payment Date). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Non-Executive Independent Director George Koutsos was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 09
Full year 2021 earnings released: EPS: €0.30 (vs €0.096 in FY 2020) Full year 2021 results: EPS: €0.30 (up from €0.096 in FY 2020). Revenue: €20.0m (up 8.4% from FY 2020). Net income: €11.8m (up 215% from FY 2020). Profit margin: 59% (up from 20% in FY 2020). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 16
First half 2021 earnings released: EPS €0.17 (vs €0.05 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €13.4m (up 170% from 1H 2020). Net income: €6.52m (up €8.46m from 1H 2020). Profit margin: 49% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 03
Upcoming dividend of €0.085 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 29 June 2021. Trailing yield: 6.1%. Within top quartile of Cypriot dividend payers (5.7%). Higher than average of industry peers (3.3%). Announcement • May 28
Atlantic Insurance Company Public Limited Announces Dividend, Payable on 29 June 2021 Atlantic Insurance Company Public Limited announced that in its Annual General Meeting held on 26 May 2021, it is approved the proposal of the Board of Directors for the payment of dividend of 8.50 cents per share of a nominal value of 0.34. The dividend corresponds to a dividend yield of 6.0% on the average closing price of the share on 26 May 2021. The record date is 11 June 2021. Shareholders registered in the Register of Shareholders as at the record date or holders of bonds following off-floor transfers finalised by the record date will be entitled to receive dividend. The Company's shares will therefore trade on the Cyprus Stock Exchange ex-dividend as of 10 June 2021 (Ex-dividend Date). The dividend will be paid to the beneficiaries on 29 June 2021 (Payment Date). Is New 90 Day High Low • Dec 16
New 90-day high: €1.35 The company is up 6.0% from its price of €1.27 on 17 September 2020. The Cypriot market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: €1.20 The company is down 3.0% from its price of €1.24 on 27 July 2020. The Cypriot market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 5.0% over the same period. Announcement • Oct 02
Atlantic Insurance Company Public Limited Announces Resignation of Marios Savvides, Deputy Director ATLANTIC INSURANCE COMPANY PUBLIC LTD announced that Mr. Marios Savvides has resigned from his position as deputy director of the Company in view of his retirement from Astrobank Ltd. The date of resignation is September 30, 2020. Announcement • Aug 08
Atlantic Insurance Company Public Limited to Report First Half, 2020 Results on Aug 07, 2020 Atlantic Insurance Company Public Limited announced that they will report first half, 2020 results on Aug 07, 2020