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Gulf Union Cooperative Insurance Company (إتحاد الخليج للتأمين التعاوني)
Main Activities: Insurance Carriers
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Company Information |
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Full name Gulf Union Cooperative Insurance Company (إتحاد الخليج للتأمين التعاوني) Headquarters P.O. Box 5719 Dammam 31432 Saudi Arabia ; Dammam; Eastern Province |
Status: Listed Legal Form: Limited Liability Company Operational Status: Operational Financial Auditors: Deloitte Touche Tohmatsu (2008) Tel: +966-3-8333544 |
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Company Description |
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Gulf Union Cooperative Insurance Company is a Saudi Joint Stock Company authorized to be established pursuant to the Council of Minister Resolution No. 233 dated 16 Ramadan 1427H (corresponding to October 9, 2006G) and the Royal Decree No. M/60 dated 18 Ramadan 1427H (corresponding to October 11, 2006G) and is established pursuant to the Ministerial Decree No. 196/ق dated 22/7/1428H 05/08/2007 ) It is engaged in the provision of multi-line insurance and reinsurance products and services. The |
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Company Analysis |
| According to the Individual - Audited financial statement for the Year of 2011, total net operating revenues decreased with -15.61%, from SAR 389,586.762 thousands to SAR 328,776.56 thousands. The results of the period reached SAR -63,008.37 thousands at the end of the period against SAR 6,544.023 thousands last year. Return on equity (Net income/Total equity) went from 3.09% to -42.26%, the Return On Asset (Net income / Total Asset) went from 0.90% to -8.44% and the Net Profit Margin (Net Income/Net Sales) went from 1.68% to -19.16% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 400.76% compared to 244.27% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 1.00 to 1.00 when compared to the previous year. |
Key Executives |
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Companies with Similar Main Activities |
FULL COMPANY PROFILE
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2012 Y (non-cons) |
2011 Y (non-cons) |
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| Audited | Audited | |
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| Finglobe - MENA Spread Financial Statements | Finglobe - MENA Spread Financial Statements | |
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| Unit | Thousands | Thousands |
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Balance Sheet
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Total Assets |
792,732 |
746,604 |
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Current Assets |
565,070 |
516,973 |
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Total Liabilities |
637,878 |
597,510 |
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Shareholders Equity |
154,853 |
149,094 |
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Current Liabilities |
565,070 |
516,973 |
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| * All the accounts are in SAR. | ||
Income Statement
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Total Operating Revenue |
417,504 |
328,776 |
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Net Profit (Loss) |
5,759 |
-63,008 |
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| * All the accounts are in SAR. | ||
Ratios
| Profitability Ratios | ||
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Return on Assets (ROA) |
0.73% |
-8.44% |
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Annualised Return on Assets (ROA) |
0.73% |
-8.44% |
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Return on Equity (ROE) |
3.72% |
-42.26% |
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Annualised Return on Equity (ROE) |
3.86% |
437.11% |
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Return on Sales (ROS) |
1.38% |
-19.16% |
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Gross Profit Margin |
100% |
100% |
| Efficiency Ratios | ||
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Accounts Receivable Turnover |
2,262.27x |
841.62x |
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Current asset turnover |
0.74x |
0.64x |
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Fixed-asset turnover |
1.83x |
1.43x |
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Asset Turnover |
0.53x |
0.44x |
| Valuation figures and ratios | ||
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Enterprise value |
987,668 |
1,050,710 |
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Bookvalue (BV) |
133,940 |
149,094 |
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Net Cash |
-563,068 |
-597,510 |
| Liquidity Ratios | ||
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Current Ratio |
100% |
100% |
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Quick ratio |
100% |
100% |
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Doom's day ratio |
13.24% |
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Cash Flow to Debt |
0% |
4.61% |
| Leverage Ratios | ||
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Leverage ratio |
511.92% |
500.76% |
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Debt to equity |
411.92% |
400.76% |
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Debt to total assets |
80.47% |
80.03% |
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Long Term Debt to Capital |
31.98% |
35.07% |
| Market ratios | ||
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Market Cap / Net cash |
-0.75 |
-0.76 |
| Trend Ratios | ||
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Revenue Trend |
126.99% |
84.39% |
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Net Income Trend |
-9.14% |
-962.84% |
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