National Investments Company Hosts Year-End 2023 Analyst Conference

National Investments Company Year-End Financial Results Conference

The National Investments Company (NIC), a leading Kuwaiti Shareholding Company, held its annual Analyst and Investor Conference to discuss the company's financial results for the fourth quarter which concluded at the end of 2023. The event was prominently hosted by Mr. Almuthana Al Maktoum, Executive Vice President of Wealth Management Sector, Mr. Girish S. Nair, Chief Financial Officer, and Mr. Bashar Khan, Executive Vice President of Investment Banking Sector.

Financial Highlights and Performance Metrics

The conference provided insights into the key financial highlights of the year. Notably, the company reported a dividend yield of 6%, a return on average equity of 2.2%, and a return on average assets of 1.7%. These represent a decrease from the previous year's robust returns which stood at 12%, 4.2%, and 3.3% respectively. Another significant point of discussion was the leverage ratio, which saw an increase to 30.3% in 2023 from 24.9% in 2022.

The conference also shared the annual income statement which showed a 51% decline in consolidated net profit. This downturn was primarily associated with a higher FVTPL (Fair Value Through Profit or Loss) loss, among other factors. A detailed review of the year's income sources such as dividend income, income from associates, joint ventures, real estate, and various fee incomes were examined alongside expense figures and profitability metrics.

Balance Sheet Strength and Asset Management

Focusing on the company's asset management strategy, NIC showcased a robust balance sheet with low leverage. The balance sheet highlights reflected an 8% decrease in total assets in 2023 compared to the previous year. Moreover, the company touched upon different classes of assets and liabilities, shedding light on shifts in cash balances, investment properties, and equity dynamics.

The presentation concluded with a disclaimer, emphasizing that while the presentation contained internally developed data and analysis, it may not include all material information for investors and should not be solely relied upon for investment decisions.

NIC, conference, financial