Cash flow MNRB Holdings

Equities

MNRB

MYL6459OO001

Reinsurance

Market Closed - BURSA MALAYSIA Other stock markets 08:52:58 05/12/2025 GMT			5-day change	1st Jan Change
2.040 ^MYR	+0.49%		+4.62%	-9.33%

11-17	MNRB Holdings Berhad Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2025	CI
11-17	MNRB posts quarterly profit attributable 112.3 million RGT	RE

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Published financial data: MNRB HOLDINGS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	2.16B	2.39B	2.84B	2.49B	2.47B
Total Interest And Dividend Income	265M	266M	316M	-31.63M	180M
Gain (Loss) on Sale of Investments, Total (Rev)	18.45M	-37.79M	29.12M	137M	34.5M
Other Revenues, Total	54.56M	70.82M	93.68M	-80.35M	78.53M
Total Revenues	2.5B	2.69B	3.28B	2.52B	2.76B
Policy Benefits	1.47B	1.66B	2.07B	1.29B	1.59B
Policy Acquisition / Underwriting Costs, Total	478M	574M	638M	340M	345M
Selling General & Admin Expenses, Total	289M	297M	353M	93.77M	78.09M
Other Operating Expenses	9.38M	-6.82M	2.97M	380M	194M
Total Operating Expenses	2.25B	2.52B	3.07B	2.1B	2.2B
Operating Income	253M	169M	212M	415M	559M
Interest Expense, Total	-16.8M	-16.84M	-21.6M	-27.27M	-28.98M
Income (Loss) on Equity Invest.	15.47M	2.77M	-16.72M	44.62M	6.47M
Currency Exchange Gains (Loss)	-2.9M	-3.2M	11.68M	73.37M	-82.44M
Other Non Operating Income (Expenses)	-15.49M	-11.1M	-16.48M	1K	-
EBT, Excl. Unusual Items	233M	141M	169M	506M	454M
Gain (Loss) on Sale of Assets	-	-	414K	-	-
Asset Writedown	-34K	-548K	-2.12M	21K	-
EBT, Incl. Unusual Items	233M	140M	167M	506M	454M
Income Tax Expense	43.32M	25.66M	47.64M	72.24M	60M
Earnings From Continuing Operations	189M	114M	119M	434M	394M
Net Income to Company	189M	114M	119M	434M	394M
Net Income - (IS)	189M	114M	119M	434M	394M
Net Income to Common Incl Extra Items	189M	114M	119M	434M	394M
Net Income to Common Excl. Extra Items	189M	114M	119M	434M	394M
Per Share Items
Net EPS - Basic	0.24	0.15	0.15	0.55	0.5
Basic EPS - Continuing Operations	0.24	0.15	0.15	0.55	0.5
Basic Weighted Average Shares Outstanding	783M	783M	783M	783M	783M
Net EPS - Diluted	0.24	0.15	0.15	0.55	0.5
Diluted EPS - Continuing Operations	0.24	0.15	0.15	0.55	0.5
Diluted Weighted Average Shares Outstanding	783M	783M	783M	783M	783M
Normalized Basic EPS	0.19	0.11	0.13	0.4	0.36
Normalized Diluted EPS	0.19	0.11	0.13	0.4	0.36
Dividend Per Share	0.07	0.02	0.04	0.05	-
Payout Ratio	12.4	27.37	16.39	8.04	19.86
Supplemental Items
EBITDA	259M	176M	220M	424M	569M
EBITA	253M	169M	212M	415M	559M
EBIT	253M	169M	212M	415M	559M
EBITDAR	260M	177M	221M	425M	569M
Effective Tax Rate - (Ratio)	18.61	18.32	28.51	14.28	13.21
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	48.1M	45.49M	51.76M	73.79M	58.83M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-6.07M	-20.98M	-5.55M	-2.88M	-460K
Normalized Net Income	146M	87.9M	106M	316M	284M
Interest on Long-Term Debt	16.8M	16.84M	21.6M	27.27M	28.98M
Supplemental Operating Expense Items
Marketing Expenses	57.16M	43.19M	59.35M	62.41M	63.1M
Selling and Marketing Expenses	57.16M	43.19M	59.35M	-	-
General and Administrative Expenses	231M	253M	293M	93.77M	78.09M
Net Rental Expense, Total	851K	1.21M	1.28M	425K	408K
Imputed Operating Lease Interest Expense	354K	504K	520K	162K	152K
Imputed Operating Lease Depreciation	497K	707K	758K	263K	256K

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	2B	1.89B	1.72B	538M	849M
Investment In Equity and Preferred Securities, Total	219M	221M	209M	263M	259M
Trading Asset Securities, Total	3.1B	3.19B	3.45B	4.96B	6.37B
Real Estate Owned	-	-	-	-	-
Total Other Investments	3B	3.62B	4.62B	5.51B	4.54B
Total investments	8.32B	8.91B	9.99B	11.27B	12.02B
Cash And Equivalents	116M	214M	205M	116M	113M
Reinsurance Recoverable - (IS)	457M	952M	851M	519M	613M
Other Receivables - (Insurance Template)	712M	858M	907M	261M	321M
Gross Property Plant And Equipment	249M	262M	279M	293M	292M
Accumulated Depreciation	-42.34M	-45.49M	-50.14M	-54.9M	-51.59M
Net Property Plant And Equipment	206M	217M	229M	238M	240M
Other Intangibles, Total	71.8M	75.14M	125M	117M	114M
Other Current Assets, Total	3.03M	5.5M	6.75M	2.31M	6.17M
Deferred Tax Assets Long-Term (Collected)	21.5M	38.33M	42.62M	47.39M	42.44M
Total Assets	9.91B	11.27B	12.36B	12.57B	13.47B
Liabilities
Accrued Expenses, Total	5.64M	4.28M	4.47M	115M	40.16M
Insurance And Annuity Liabilities	4B	4.27B	4.55B	4.57B	5.15B
Unpaid Claims	2.39B	3.29B	3.65B	3.92B	3.93B
Unearned Premiums	535M	621M	698M	-	-
Reinsurance Payable - (BS)	932K	503K	689K	31.94M	34.12M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	1.56M	2.34M	-	2.42M	1.54M
Long-Term Debt	320M	320M	520M	620M	620M
Long-Term Leases	1.19M	3.14M	3.43M	599K	752K
Current Income Taxes Payable	7.74M	7.07M	9.95M	30.16M	8.72M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	225M	274M	331M	118M	212M
Deferred Tax Liability Non-Current	9.83M	3.18M	4.72M	37.21M	33.66M
Total Liabilities	7.49B	8.8B	9.78B	9.45B	10.03B
Common Stock, Total	739M	739M	739M	739M	739M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	1.53B	1.61B	1.71B	2.28B	2.59B
Comprehensive Income and Other	151M	122M	133M	108M	109M
Total Common Equity	2.42B	2.47B	2.58B	3.12B	3.44B
Total Equity	2.42B	2.47B	2.58B	3.12B	3.44B
Total Liabilities And Equity	9.91B	11.27B	12.36B	12.57B	13.47B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	783M	783M	783M	783M	783M
ECS Total Common Shares Outstanding	783M	783M	783M	783M	783M
Book Value / Share	3.09	3.16	3.3	3.99	4.39
Tangible Book Value	2.35B	2.4B	2.46B	3.01B	3.33B
Tangible Book Value Per Share	3	3.06	3.14	3.84	4.25
Total Debt	323M	325M	523M	623M	622M
Net Debt	207M	111M	318M	507M	509M
Debt Equivalent Oper. Leases	6.81M	9.69M	10.22M	3.4M	3.26M
Equity Method Investments, Total	135M	134M	122M	175M	166M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	36.8M	36.8M	36.8M	36.8M	47M
Buildings, Total	162M	162M	163M	174M	161M
Machinery, Total	47.33M	51.66M	58.93M	64.97M	66.91M
Full Time Employees	932	981	1.04K	1.12K	-

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	189M	114M	119M	434M	394M
Depreciation, Depletion & Amortization	9M	8.88M	9.3M	10.63M	11.17M
Total Depreciation, Depletion & Amortization	9M	8.88M	9.3M	10.63M	11.17M
Amortization of Deferred Charges, Total	10.59M	12.34M	20.72M	22.47M	16.97M
(Gain) Loss On Sale of Asset - (CF)	-70K	-	-414K	67K	-3.34M
(Gain) Loss on Sale of Investments - (CF)	-10.97M	40.46M	-24.25M	-18.6M	-31.16M
Total Asset Writedown	34K	548K	2.12M	-21K	11.38M
(Income) Loss On Equity Investments - (CF)	-15.47M	-2.77M	16.72M	-44.62M	-6.47M
Provision and Write-off of Bad Debts	8.9M	-8.11M	-1.66M	-	-
Change in Accounts Receivable	-126M	-108M	-90.05M	609M	545M
Reinsurance Recoverable - (CF)	40.09M	-495M	102M	38.86M	-104M
Change In Income Taxes	-	-	-	28.1M	-
Change in insurance Reserves / Liabilities	451M	1.15B	610M	-	-
Change in Other Net Operating Assets (Collected)	-553M	-641M	-866M	-1.51B	-712M
Other Operating Activities	84.94M	102M	26.88M	338M	74.51M
Cash from Operations	88.33M	174M	-75.24M	-95.06M	196M
Capital Expenditure	-2.2M	-9.81M	-18.62M	-16.27M	-15.43M
Sale of Property, Plant, and Equipment	70K	12K	16K	52K	11.33M
Purchase / Sale of Intangible Assets	-45.82M	-16.56M	-72.18M	-15M	-29.64M
Sale (Purchase) of Real Estate Properties (Collected)	-	-	-	-	-
Cash from Investing	-47.95M	-26.36M	-90.79M	-31.22M	-33.74M
Long-Term Debt Issued, Total	-	-	200M	420M	-
Total Debt Issued	-	-	200M	420M	-
Long-Term Debt Repaid, Total	-2.88M	-1.89M	-1.5M	-322M	-2.28M
Total Debt Repaid	-2.88M	-1.89M	-1.5M	-322M	-2.28M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-23.49M	-31.32M	-19.58M	-34.85M	-78.31M
Common & Preferred Stock Dividends Paid	-23.49M	-31.32M	-19.58M	-34.85M	-78.31M
Other Financing Activities, Total	-16.64M	-16.66M	-21.48M	-27.16M	-28.72M
Cash from Financing	-43.01M	-49.88M	157M	36.42M	-109M
Net Change in Cash	-2.63M	98.26M	-8.59M	-89.86M	52.73M
Supplemental Items
Cash Interest Paid	16.64M	16.66M	21.48M	27.16M	28.72M
Cash Income Tax Paid (Refund)	52.6M	29.34M	42.04M	60.52M	106M
Net Debt Issued / Repaid	-2.88M	-1.89M	198M	98.42M	-2.28M
Levered Free Cash Flow	203M	495M	348M	-945M	-1.25B
Unlevered Free Cash Flow	214M	506M	361M	-928M	-1.23B
Change In Net Working Capital	-84.13M	-405M	-289M	1.19B	1.56B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.65	1	1.12	2.16	2.68
Return on Total Capital	5.92	3.81	4.49	7.4	8.95
Return On Equity %	8.08	4.68	4.73	14.8	12.01
Return on Common Equity	8.08	4.68	4.73	14.8	12.01
Margin Analysis
Gross Profit Margin %	22.05	17.07	17.34	35.27	30.07
SG&A Margin	11.57	11.05	10.78	3.72	2.83
EBITDA Margin %	10.35	6.55	6.71	16.84	20.59
EBITA Margin %	10.11	6.28	6.47	16.48	20.24
EBIT Margin %	10.11	6.28	6.47	16.48	20.24
Income From Continuing Operations Margin %	7.59	4.25	3.65	17.21	14.27
Net Income Margin %	7.59	4.25	3.65	17.21	14.27
Net Avail. For Common Margin %	7.59	4.25	3.65	17.21	14.27
Normalized Net Income Margin	5.83	3.27	3.22	12.55	10.27
Levered Free Cash Flow Margin	8.13	18.4	10.61	-37.52	-45.25
Unlevered Free Cash Flow Margin	8.55	18.79	11.02	-36.85	-44.6
Asset Turnover
Asset Turnover	0.26	0.25	0.28	0.21	0.21
Fixed Assets Turnover	12.04	12.72	14.7	10.79	11.56
Receivables Turnover (Average Receivables)	5.28	4.7	4.74	41.32	28.52
Short Term Liquidity
Current Ratio	1.3	1.16	1.08	1.39	1.76
Quick Ratio	1.15	0.93	0.9	1.24	1.59
Operating Cash Flow to Current Liabilities	0.03	0.04	-0.02	-0.02	0.05
Days Sales Outstanding (Average Receivables)	69.1	77.74	76.94	8.86	12.8
Average Days Payable Outstanding	465.06	506.35	508.88	856.55	747.52
Long Term Solvency
Total Debt/Equity	13.35	13.17	20.27	19.95	18.09
Total Debt / Total Capital	11.77	11.64	16.85	16.63	15.32
LT Debt/Equity	13.28	13.07	20.27	19.87	18.04
Long-Term Debt / Total Capital	11.72	11.55	16.85	16.56	15.28
Total Liabilities / Total Assets	75.6	78.07	79.1	75.16	74.45
EBIT / Interest Expense	15.04	10.03	9.81	15.22	19.3
EBITDA / Interest Expense	15.57	10.56	10.24	15.61	19.68
(EBITDA - Capex) / Interest Expense	15.44	9.98	9.38	15.01	19.15
Total Debt / EBITDA	1.23	1.83	2.37	1.46	1.09
Net Debt / EBITDA	0.79	0.63	1.44	1.19	0.89
Total Debt / (EBITDA - Capex)	1.24	1.94	2.58	1.52	1.12
Net Debt / (EBITDA - Capex)	0.8	0.66	1.57	1.24	0.92
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	8.46	7.69	21.81	9.96	8.03
Gross Profit, 1 Yr. Growth %	20.99	-16.62	23.73	95.16	9.61
EBITDA, 1 Yr. Growth %	30.05	-31.93	24.85	205.6	26.59
EBITA, 1 Yr. Growth %	30.86	-33.09	25.41	217.07	26.97
EBIT, 1 Yr. Growth %	30.86	-33.09	25.41	217.07	26.97
Earnings From Cont. Operations, 1 Yr. Growth %	42.58	-39.62	4.41	266.54	-9.06
Net Income, 1 Yr. Growth %	42.58	-39.62	4.41	266.54	-9.06
Normalized Net Income, 1 Yr. Growth %	37.37	-39.61	20.05	249.74	-10.18
Diluted EPS Before Extra, 1 Yr. Growth %	40.71	-39.62	4.41	266.54	-9.06
Net Property, Plant and Equip., 1 Yr. Growth %	-1.18	5.08	5.72	3.77	0.99
Accounts Receivable, 1 Yr. Growth %	24.2	22.52	13.36	-2.35	115.71
Total Assets, 1 Yr. Growth %	7.55	13.74	9.63	10.36	7.13
Common Equity, 1 Yr. Growth %	6.45	2.21	4.49	14.14	10.16
Tangible Book Value, 1 Yr. Growth %	4.98	2.13	2.56	15.11	10.64
Cash From Operations, 1 Yr. Growth %	62.27	97.54	-143.12	26.34	-305.96
Capital Expenditures, 1 Yr. Growth %	-31.86	346.11	89.82	-12.64	-5.13
Levered Free Cash Flow, 1 Yr. Growth %	-5.42	143.81	-29.77	-647.81	34.57
Unlevered Free Cash Flow, 1 Yr. Growth %	-5.21	136.75	-28.57	-598.89	35.1
Dividend Per Share, 1 Yr. Growth %	180	-64.29	78	12.36	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	10	8.07	14.53	-3.24	9.84
Gross Profit, 2 Yr. CAGR %	14.13	0.44	1.57	39.07	35.1
EBITDA, 2 Yr. CAGR %	19.37	-5.91	-7.81	55.2	102.48
EBITA, 2 Yr. CAGR %	20.22	-6.43	-8.39	56.71	106.69
EBIT, 2 Yr. CAGR %	20.22	-6.43	-8.39	56.71	106.69
Earnings From Cont. Operations, 2 Yr. CAGR %	34.72	-7.21	-20.6	94.65	82.57
Net Income, 2 Yr. CAGR %	34.72	-7.21	-20.6	94.65	82.57
Normalized Net Income, 2 Yr. CAGR %	28.17	-8.91	-14.85	89.64	77.23
Diluted EPS Before Extra, 2 Yr. CAGR %	9.16	-7.83	-20.6	94.65	82.57
Net Property, Plant and Equip., 2 Yr. CAGR %	0.51	1.91	5.4	4.74	2.37
Accounts Receivable, 2 Yr. CAGR %	22.26	23.36	17.85	-69.27	45.13
Total Assets, 2 Yr. CAGR %	6.68	10.6	11.67	5.61	8.73
Common Equity, 2 Yr. CAGR %	6.81	4.31	3.34	12.42	12.13
Tangible Book Value, 2 Yr. CAGR %	6.15	3.55	2.34	12.01	12.85
Cash From Operations, 2 Yr. CAGR %	-56.36	79.04	-7.71	-26.19	61.31
Capital Expenditures, 2 Yr. CAGR %	-0.59	74.36	191	28.77	-8.96
Levered Free Cash Flow, 2 Yr. CAGR %	-73.83	51.85	30.85	38.17	169.23
Unlevered Free Cash Flow, 2 Yr. CAGR %	-73.12	49.8	30.05	35.48	157.39
Dividend Per Share, 2 Yr. CAGR %	-	0	-20.27	41.42	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.62	9.22	12.47	0.27	0.9
Gross Profit, 3 Yr. CAGR %	7.21	2.79	7.67	17.27	21.85
EBITDA, 3 Yr. CAGR %	3.04	-1.01	3.39	17.92	47.84
EBITA, 3 Yr. CAGR %	3.3	-1.11	3.17	18	49.01
EBIT, 3 Yr. CAGR %	3.3	-1.11	3.17	18	49.01
Earnings From Cont. Operations, 3 Yr. CAGR %	10.39	3.1	-3.49	31.77	51.04
Net Income, 3 Yr. CAGR %	10.39	3.1	-3.49	31.77	51.04
Normalized Net Income, 3 Yr. CAGR %	4.16	-0.26	-0.13	29.51	47.82
Diluted EPS Before Extra, 3 Yr. CAGR %	-18.12	-10.39	-3.91	31.77	51.04
Net Property, Plant and Equip., 3 Yr. CAGR %	-5.02	2.01	3.16	4.85	3.47
Accounts Receivable, 3 Yr. CAGR %	6.12	22.35	19.93	-51.27	-41.16
Total Assets, 3 Yr. CAGR %	7.69	8.99	10.28	8.25	6.11
Common Equity, 3 Yr. CAGR %	16.28	5.25	4.37	8.91	11.66
Tangible Book Value, 3 Yr. CAGR %	15.93	4.79	3.21	8.61	11.55
Cash From Operations, 3 Yr. CAGR %	10.56	-27.81	11.39	2.48	3.91
Capital Expenditures, 3 Yr. CAGR %	20.56	63.98	79.36	94.85	16.3
Levered Free Cash Flow, 3 Yr. CAGR %	5.64	-44.94	17.43	66.96	36.19
Unlevered Free Cash Flow, 3 Yr. CAGR %	5.45	-44.49	17.03	63.19	34.58
Dividend Per Share, 3 Yr. CAGR %	-	-	21.19	-10.61	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.65	3.09	7.86	4.05	3.71
Gross Profit, 5 Yr. CAGR %	20.43	4.02	4.92	16	12.78
EBITDA, 5 Yr. CAGR %	101.32	7.62	-1.44	18.5	23.39
EBITA, 5 Yr. CAGR %	226.47	8.21	-1.55	18.89	23.71
EBIT, 5 Yr. CAGR %	226.47	8.21	-1.55	18.89	23.71
Earnings From Cont. Operations, 5 Yr. CAGR %	37.31	9.96	-3.24	32.94	24.29
Net Income, 5 Yr. CAGR %	37.31	9.96	-3.24	32.94	24.29
Normalized Net Income, 5 Yr. CAGR %	74.21	4.23	-3.91	28.97	21.79
Diluted EPS Before Extra, 5 Yr. CAGR %	14.78	-11.97	-19.12	22.21	23.96
Net Property, Plant and Equip., 5 Yr. CAGR %	-3.58	-2.32	-0.98	3.09	2.84
Accounts Receivable, 5 Yr. CAGR %	6.64	12.86	10.67	-29.6	-20.88
Total Assets, 5 Yr. CAGR %	6.87	8.33	9.26	7.62	7.89
Common Equity, 5 Yr. CAGR %	12.7	11.73	10.92	8.06	8.66
Tangible Book Value, 5 Yr. CAGR %	12.27	11.41	10.29	7.62	8.28
Cash From Operations, 5 Yr. CAGR %	-5.62	30.67	2.85	-27.17	29.18
Capital Expenditures, 5 Yr. CAGR %	0.34	52.31	71.5	48.87	36.75
Levered Free Cash Flow, 5 Yr. CAGR %	0.98	26.14	15.08	-20.45	42.25
Unlevered Free Cash Flow, 5 Yr. CAGR %	0.84	24.9	14.68	-20.68	40.47