Bupa Arabia for Cooperative Insurance Company (8210) Q2 2025 earnings summary

Executive summary

• Achieved robust profitability growth and significant value creation for shareholders, with over 25 years of experience and a network of 1,450+ providers and 2,000+ employees.

• Maintains leadership in the Saudi health insurance market, holding a 45.9% share of the health insurance GWP in H1-25.

• Strategic transformation underway to become the most trusted healthcare company in the Arab world by 2030, focusing on core business, medical inflation control, and vertical integration.

• Interim results for the three- and six-month periods ended 30 June 2025 show a decline in net income and earnings per share compared to the same period last year.

• The company operates solely in the Saudi medical insurance market, with all business conducted domestically.

Financial highlights

• H1-25 EBT decreased by ~12% year-over-year, mainly due to inflationary trends and claims seasonality.

• Insurance revenue grew 2.1% YoY to SAR 9.13B in H1-25; investment income increased 8.7% YoY to SAR 371M.

• Net income for the six months was SR 666.5 million, down from SR 764.0 million year-over-year.

• Basic and diluted EPS for the six months was SR 4.46, compared to SR 5.10 in the prior year.

• Total assets increased to SR 16.81 billion from SR 15.58 billion at year-end 2024.

Outlook and guidance

• Plans to expand CareConnect’s physical footprint and digital capabilities, aiming for a holistic, patient-centered care model.

• Focus on leveraging technology, incentive programs, and smart clinics to drive future growth.

• Management notes seasonality in operations, with profits expected to fluctuate between periods.

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