NIC Holds its Analysts Conference for Q4 2024

The National Investment Company (NIC) held its Analysts Conference for the fourth quarter of 2024 on Tuesday, 25 March 2025. The conference has witnessed positive participation from Mr. Sulaiman  AlDerbas, Managing Director -Strategy Sector, Senior Director of Finance and Accounts, Mr. Mohamed Baig; Managing Director of the wealth Management Sector, Mr. Al Muthana Al Maktoum, who presented a brief about the company and shed light on the positive financial results achieved in 2024, in which NIC has proven that it is taking successful and practical steps in strengthening its leading position and achieving sustainable positive growth in its profits and that the company, in pursuit of its strategic objectives, always seeks to focus on basic investment activities by consolidating its sustainability approach.

Financial Performance

Mr. Mohamed Baig presented a detailed explanation of the financial position of the National Investments Company. The company has achieved a total revenue of KD31.3 million for the year 2024, a net profit of KD12.1 million, and earnings per share of 15.2 fils, as shown in the comprehensive income statement, compared to the same period in 2023, when total revenues were KD13.8 million, net profit was KD4.1 million, and earnings per share were 5.2 fils.  He pointed out that the return on average shareholders’ equity and return on average assets were 6.5% and 5.2%, respectively, and the leverage ratio was 31.7% as of 31 December 2024. He added that the net book value per share was 248 fils per share as of 31 December 2024, while the net book value was 217 fils per share as of 31 December 2023.

On the other hand, Mr. Mohamed Baig pointed out that the company’s consolidated net profit during 2024 increased by up to 208%, with a value of KD13.84 million compared to KD4.5 million in 2023. The total revenues for the fiscal year ending in 2024 increased by 127% to reach KD31.3 million compared to KD13.8 million in 2023, mainly due to the realized profits, as the S&P Kuwait index recorded an increase of 7.7% during 2024 compared to a decrease of 9.1% during the same period in 2023.  Also, the revenues of management, incentives, brokerage, and advisory services fees during 2024 amounted to KD10.2 million compared to KD9.3 million for the corresponding period in 2023.

Administrative expenses increased to KD13 million during 2024, compared to the corresponding period of 2023, which amounted to KD8.8 million, in line with the increase in operating income, while financing costs increased to KD2.7 million compared to KD1.8 million last year due to new loans. The other comprehensive income was KD24 million in 2024, compared to another comprehensive loss of KD7.3 million in 2023. Thus, comprehensive income on a consolidated basis amounted to KD37.9 million for 2024 compared to a total comprehensive loss of KD2.8 million in the comparative period 2023.

Mr. Mohamed Baig also referred to the total assets and shareholders’ equity of the parent company, which as of December 31, 2024 amounted to KD283.6 million and KD197.4 million respectively, compared to KD249.3 million and KD173.3 million respectively for the same period of 2023, noting that most of the total assets are about 81%, are investments, of which 10% are real estate, and the rest are cash and other assets.

Unique Opportunities

Mr. Sulaiman AlDerbas highlighted that NIC is committed to originality, enabling us to identify and capitalize on unique opportunities and create value and growth for our clients. Hence, the company’s investment funds, where Al Darij Fund achieved the best performance in the Islamic funds category, Al Mada Investment Fund achieved the best performance among local funds investing in the GCC markets, and Wataniya Fund achieved outstanding quarterly performance in the category of large market capitalization companies. The company’s managed investment portfolios achieved a return of 9.8% compared to the S&P GCC index of 5.42%, or an alpha factor of 4.4%.

He added that the company has attracted four new clients to its investment portfolios and continues to offer customized portfolios to meet their needs. The company is also developing several new investment products, which are expected to be launched in the second half of 2025. The Market-Making service was also expanded, adding five new companies to reach 14.

“Being an exclusive selling party advisor to a key client in a significant deal during the fourth quarter of 2024 has facilitated the sale of a minority stake of US$10.4 million, representing 4.7% of the company’s total market capitalization of approximately US$222.27 million,” added AlDerbas.

In 2024, NIC also won four renowned awards, including ‘Best Local Investment Bank in Kuwait -2024’, ‘Kuwait’s Best for Next-Gen for 2024’, and ‘Kuwait’s Best for Family Office Services’ from Euromoney. In addition, Forbes Middle East magazine nominated the company as the strongest asset manager in Kuwait.

At the end of the conference, NIC affirmed its eagerness and commitment to continue regularly communicating with its customers and shareholders while keeping them informed about company developments through the quarterly analyst conference.

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