Bupa Arabia for Cooperative Insurance Company (8210) Q1 2025 earnings summary

Executive summary

• Achieved robust profitability growth in Q1 2025, with significant value creation for shareholders and continued market leadership in health insurance.

• Interim results for the three months ended 31 March 2025 show continued profitability and strong capital position.

• Implemented the 3B strategy to transform into a leading healthcare company by 2030, focusing on core business, medical inflation control, and vertical integration.

• Net income attributed to shareholders after zakat and income tax reached SR 380.2 million, up from SR 359.4 million year-over-year.

• Total comprehensive income for the period was SR 451.1 million, compared to SR 300.3 million in the prior year.

Financial highlights

• Insurance revenue reached SAR 4.41B in Q1 2025, up 0.8% year-over-year.

• EBT increased by 7% YoY to SAR 444M, with EBT margin improving to 10.1%.

• Net insurance and investment results rose to SR 537.4 million from SR 479.7 million year-over-year.

• Basic and diluted EPS increased to SR 2.55 from SR 2.40 year-over-year.

• Total assets stood at SR 15.72 billion as of 31 March 2025, up from SR 15.58 billion at year-end 2024.

Outlook and guidance

• Continued focus on digital health and integrated care through CareConnect, aiming to enhance member engagement and health outcomes.

• Strategic initiatives aligned with Vision 2030 and regulatory reforms to sustain growth and market leadership.

• Management notes that due to seasonality, operating profits are expected to fluctuate between periods.

• Interim results may not be indicative of full-year performance.