Salama Reports Strong Q1 2025 with AED 256M Revenue
Salama, a leading Takaful provider, announces robust Q1 2025 financial results with significant revenue growth and a stronger balance sheet.
Summary
Salama reports AED 256 million in Q1 2025 revenue, marking a strategic renewal phase. Despite a drop in net profit due to a one-off gain last year, the company shows resilience and growth potential.
Salama, a prominent name in the Takaful insurance sector, has reaffirmed its growth strategy with an impressive financial performance in Q1 2025. The company reported AED 256.36 million in Takaful revenue, showcasing a robust topline despite challenging market conditions. This figure marks a significant achievement for Salama as it navigates through a period of strategic renewal.
While the net profit for Q1 2025 stood at AED 0.39 million, a decline from AED 17.6 million in Q1 2024, it is crucial to note that the previous year's figures were bolstered by an exceptional one-off gain of AED 19.4 million. Excluding this gain, Salama's core performance remains resilient, demonstrating the company's ability to adapt and thrive.
Salama's total assets have reached AED 3.164 billion, with equity rising due to favorable foreign currency adjustments and improving macroeconomic conditions in key markets like Algeria and Egypt. This financial stability is further supported by S&P Global's affirmation of Salama's 'BBB-' rating with a developing outlook, reflecting the company's potential for sustainable growth.
The leadership of Group CEO Mohamed Ali Boubane has been instrumental in driving Salama's strategic focus. Under his guidance, the company is laying the groundwork for its next phase of evolution, emphasizing disciplined underwriting, operational excellence, and digital innovation. These efforts are centered around customer-centric approaches, aiming to deepen market leadership and unlock future growth opportunities.
Chairman H.E. Fahad AlQassim highlighted Salama's commitment to delivering world-class, Shariah-compliant insurance solutions while maximizing long-term shareholder value. The company's focus on empowering its people and delivering meaningful societal impact aligns with its broader vision of sustainable growth.
In light of these developments, investors might consider holding their position in Salama. The company's strategic initiatives and strong regional footprint suggest potential for enduring value and growth in the Takaful industry.
Source
Summary
Salama, a leading regional Takaful provider, reported AED 256 million in revenue for Q1 2025, showcasing strong performance in a challenging environment. The company's total assets reached AED 3.164 billion, with an increase in equity due to the appreciation of the Algerian Dinar and Egyptian Pound. Although net profit for Q1 2025 was AED 0.39 million, compared to AED 17.6 million in Q1 2024, the previous year's profit included a one-off gain. Excluding this, core performance remained resilient. Total comprehensive income improved to AED 4.07 million from a loss of AED 23.1 million in the same period last year, driven by favorable foreign currency adjustments. Salama's outlook was affirmed by S&P Global Ratings with a 'BBB-' rating and a Developing outlook, indicating potential for sustainable growth. The company is focused on sustainable growth, strategic renewal, and transformation under the leadership of Group CEO Mohamed Ali Boubane, emphasizing disciplined underwriting, operational excellence, and digital innovation.
