NATIONAL

INVESTMENTS COMPANY

ANALYSTS

CONFERENCE

Q1 2024

PRESENTED BY

Mr. Almuthana Al Maktoum

Mr. Girish S. Nair

Mr. Bashar Khan

Managing Director

Chief Financial Officer

Managing Director

Wealth Management Sector

Investment Banking Sector

02

DISCLAIMER

  • This presentation has been prepared and issued by National Investments Company ("NIC"), a Public Kuwaiti Shareholding Company based on internally developed data and analysis.
  • This presentation does not contain all the information that is considered as material information for the investor and it is provided as information only.
  • This presentation does not disclose all the risks and other related issues to an investment in any securities. NIC may not be held liable for any decision made in reliance of this presentation.
  • The information contained in this document may be subject to amendments, supplements, revision without prior notice. However, neither the shareholders of the Company nor NIC, undertake any obligation to update, expand, revise or amend any information or correct any inaccuracies contained in this document or provide the recipients with additional information.
  • It is not allowed to reproduce (fully or partially), distribute or transmit the information in this presentation to other parties without NIC's prior written consent.
  • Past performance presented is not indicative of future results and any forward-looking statements in this document are results of the exercise of subjective assessment and assumptions. There is no guarantee that such statements would be materialized or even occur and NIC has no liability whatsoever as a result of such forward-looking statements therefore, recipients should not rely on such forward- looking statements.

03

CONTENTS

> FINANCIALHIGHLIGHTS

5

> OURSTRATEGYFORTHEFUTURE

10

> Q&A

14

04

FINANCIAL HIGHLIGHTS

Q1 2024

Q1 2024 | Key Financial Highlights |

Total Income

(KWD mn)

8.4

2.1

Q1 2023

Q1 2024

Net Profit

(KWD mn)

4.1

1.1

Q1 2023

Q1 2024

EPS

(KWD fils)

5.1

1.3

Q1 2023

Q1 2024

Book Value

(KWD fils)

242

246

Q1 2023

Q1 2024

AUM

(KWD mn)

1,090

1,066

Q1 2023

Q1 2024

Return on Average EquityReturn on Average Assets

2.2%

1.7%

Q1 2024

Q1 2024

vs 0.5% Q1 2023

vs 0.3% Q1 2023

Leverage Ratio

29.6%

Q1 2024

vs 23.7% Q1 2023

06

Q1 2024 | Income Statement Highlights |

Consolidatednetprofitincreasedby403%,primarilyattributedtoincreasedincomefromFVTPL

KWD '000s

FVTPL (loss) income

Dividend income

Associate & Joint Venture income

Income `from real estate

Fee income

Other Income

Total income

Administrative expenses Finance costs

(Reversal of) impairment losses and other provisions (Gain) loss on foreign currency translation

Total expenses

Profit for the period before taxation & director fees

Taxation & Director fees

Profit for the period

Attributable to:

Equity holders of the Parent Company

Non-controlling interests (NCI)

Total

EPS (fils)

Other comprehensive income (loss) for the period

Equity holders of the Parent Company

Non-controlling interests (NCI)

Total

Total comprehensive income (loss) for the period

Equity holders of the Parent Company

Non-controlling interests (NCI)

Total

Q1 2023

Q1 2024

Change

(4,813)

5,113

206%

3,200

512

-84%

636

(20)

-103%

295

281

-5%

2,339

2,351

1%

437

147

-66%

2,094

8,384

300%

2,153

2,626

22%

431

631

46%

(1,320)

454

134%

(53)

75

242%

1,211

3,786

213%

883

4,598

421%

0

(159)

NA

883

4,439

403%

1,074

4,101

282%

(191)

338

277%

883

4,439

403%

1.3

5.1

292%

(7,031)

18,447

362%

(92)

58

163%

(7,123)

18,505

360%

(5,957)

22,548

479%

(283)

396

240%

(6,240)

22,944

468%

Income Drivers

(KWD mn)

2.1

1.4

2.3

3.2

(4.8)

Q1 2023

Fee Income Breakdown

(KWD mn)

2.3

0.5

0.9

0.9

Q1 2023

8.4

0.4

2.4

0.5

5.1

Q1 2024

2.4

0.7

0.9

0.8

Q1 2024

Other income

Fee income

Dividend income

FVTPL gain (loss)

Advisory & Other service fees Brokerage fees

Management fees

07

Q1 2024 | Balance Sheet Highlights |

A robust balance sheet with low leverage

KWD '000s

Dec 23

Mar 24

Change

Cash & balances with banks and financial institutions

20,400

16,325

-20%

Financial assets at FVTPL

113,583

126,756

12%

Trading properties

271

271

0%

Loans

276

157

-43%

Financial assets at FVOCI

65,254

82,743

27%

Investment in associates and joint ventures

12,579

13,148

5%

Investment properties

29,039

29,055

0%

Intangible assets

1,202

1,168

-3%

Goodwill

1,708

1,708

0%

Other assets

4,989

6,326

27%

Total assets

249,301

277,657

11%

Bank borrowings

47,413

52,163

10%

Accounts payable and accruals

10,590

11,289

7%

Total liabilities

58,003

63,452

9%

Issued and fully paid-up share capital

79,786

79,786

0%

Share premium

49,593

49,593

0%

Statutory reserve

11,615

11,615

0%

Voluntary reserve

1,130

1,130

0%

Treasury shares

(235)

(235)

0%

Treasury shares reserve

520

520

0%

Other reserves

486

486

0%

Foreign currency translation reserve

499

512

3%

Cumulative changes in fair value

26,000

44,530

71%

Retained earnings

3,866

7,871

104%

Equity attributable to equity holders of Parent Company

173,260

195,808

13%

Non-Controlling interests

18,038

18,397

2%

Total equity

191,298

214,205

12%

Total liabilities and equity

249,301

277,657

11%

Asset Breakdown

(KWD mn)

3.3%

3.6%

8.1%

5.8%

10.5%

11.7%

76.7%80.1%

2023

Q1 2024

Equity Breakdown

(KWD mn)

7.7%

6.7%

2.8%

4.5%

15.0%

22.7%

28.6%

25.3%

46.0%

40.7%

2023

Q1 2024

Goodwill & Other Assets Cash

Properties

Investments

Other items

Retained Earnings & Vol. Reserve

Fair Value Reserve

Share Premium

Share Capital

08

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National Investments Company KSCC published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 05:09:07 UTC.