NATIONAL

INVESTMENTS COMPANY

ANALYSTS

CONFERENCE

YE 2023

PRESENTED BY

Mr. Almuthana Al Maktoum

Mr. Girish S. Nair

Mr. Bashar Khan

Executive Vice President

Chief Financial Officer

Executive Vice President

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

YE 2023

YE 2023 | Key Financial Highlights |

Total Income

(KWD mn)

19.9

13.8

2022

2023

Net Profit

(KWD mn)

8.7

4.1

2022

2023

EPS

(KWD fils)

11.0

5.2

2022

2023

Book Value

(KWD fils)

249

217

2022

2023

AUM

(KWD mn)

1,121

1,049

2022

2023

Dividend Yield Return on Average Equity Return on Average Assets

6%

2.2%

1.7%

2023

2023

2023

vs 12% 2022

vs 4.2% 2022

vs 3.3% 2022

Leverage Ratio

30.3%

2023

vs 24.9% 2022

06

YE 2023 | Income Statement Highlights |

ConsolidatedNetProfit saw a 51% decline, primarily due to higher FVTPL loss.

KWD '000s

FVTPL loss

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 on foreign currency translation

Total expenses

Profit for the year before taxation & director fees

Taxation & Director fees

Profit for the year

Attributable to:

Equity holders of the Parent Company

Non-controlling interests (NCI)

Total

EPS (fils)

Other comprehensive income (loss) for the year

Equity holders of the Parent Company

Non-controlling interests (NCI)

Total

Total comprehensive income (loss) for the year

Equity holders of the Parent Company

Non-controlling interests (NCI)

Total

2022

2023

Change

(3,176)

(5,648)

78%

8,528

6,816

-20%

670

1,126

68%

2,424

1,266

-48%

10,880

9,252

-15%

605

983

62%

19,931

13,795

-31%

9,361

8,787

-6%

1,190

1,834

54%

30

(1,316)

-4487%

(227)

(21)

-91%

10,354

9,284

-10%

9,577

4,511

-53%

(408)

(19)

-95%

9,169

4,492

-51%

8,736

4,139

-53%

433

353

-18%

9,169

4,492

-51%

11.0

5.2

-53%

9,394

(7,377)

-179%

75

26

-65%

9,469

(7,351)

-178%

18,130

(3,238)

-118%

508

379

-25%

18,638

(2,859)

-115%

Income Drivers

(KWD mn)

19.9

3.7

10.9

8.5

(3.2)

2022

Fee Income Breakdown

(KWD mn)

10.9

2.2

4.5

4.2

2022

13.8

3.3

9.3

6.8

(5.6)

2023

9.3

2.9

3.0

3.4

2023

Other income

Fee income

Dividend income

FVTPL loss

Advisory & Other service fees

Brokerage fees

Management fees

07

YE 2023 | Balance Sheet Highlights |

A robust balance sheet with low leverage

KWD '000s

2022

2023

Change

Cash & balances with banks and financial institutions

32,396

20,400

-37%

Financial assets at FVTPL

102,196

113,583

11%

Trading properties

278

271

-3%

Loans

341

276

-19%

Financial assets at FVOCI

84,065

65,254

-22%

Investment in associates and joint ventures

14,160

12,579

-11%

Investment properties

28,995

29,039

0%

Intangible assets

1,306

1,202

-8%

Goodwill

1,708

1,708

0%

Other assets

5,506

4,989

-9%

Total assets

270,951

249,301

-8%

Bank borrowings

39,003

47,413

22%

Accounts payable and accruals

14,959

10,590

-29%

Total liabilities

53,962

58,003

7%

Issued and fully paid-up share capital

79,786

79,786

0%

Share premium

49,593

49,593

0%

Statutory reserve

11,199

11,615

4%

Voluntary reserve

12,508

1,130

-91%

Treasury shares

(235)

(235)

0%

Treasury shares reserve

520

520

0%

Other reserves

486

486

0%

Foreign currency translation reserve

557

499

-10%

Cumulative changes in fair value

33,462

26,000

-22%

Retained earnings

10,939

3,866

-65%

Equity attributable to equity holders of Parent Company

198,815

173,260

-13%

Non-Controlling interests

18,174

18,038

-1%

Total equity

216,989

191,298

-12%

Total liabilities and equity

270,951

249,301

-8%

Asset Breakdown

(KWD mn)

15.3%11.6%

10.8%11.7%

73.9%76.7%

20222023

Equity Breakdown

(KWD mn)

6.5%

7.6%

11.7%

2.8%

15.0%

16.8%

28.6%

24.9%

40.1%

46.0%

2022

2023

Cash, Goodwill & Other Assets Properties

Investments

Other items

Ret. Earnings & Vol. Reserve

FV Reserve

Share Premium

Share Capital

08

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National Investments Company KSCC published this content on 10 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2024 12:16:05 UTC.