Guardian Holdings Limited(GHL)

Audited financials for the year ended December 31, 2024:

Guardian Holdings Limited (GHL) for the year that ended December 31, 2024, reported an 8% increase in insurance revenue totaling $5.88 million compared to $5.44 million in the corresponding period last year. Insurance Revenue for the fourth quarter had a 5% increase to close at $1.54 million compared to $1.46 million for the comparable quarter of 2023.

Insurance Service Expenses amounted to $3.69 million (2023: 3.73 million), representing a decrease of 1% year over year. Consequently, net results from insurance activities increased by 36% to $885,843 compared to $651,374 for the year ended December 31, 2023. The company booked net results from insurance activities of $272,389 for the fourth quarter versus $161,268 reported for the similar quarter of 2023.

Net Income from all Activities increased by 14% to close at $2.09 million (2023: $1.84 million), while Operating Expenses increased by 2% from $818,342 in 2023 to $836,409 in the period under review. As a result, the operating profit for the year that ended on December 31, 2024, amounted to $1.07 million, a 27% increase relative to $842,317 reported in 2023.

Net Income from all Activities for the year ended December 31, 2024, amounted to $2.09 million, a 14% increase relative to $1.84 million reported in 2023. Net Income from all Activities for the fourth quarter amounted to $541,885 (2023: $407,889).

Finance Charges for the year ended December 31, 2024, amounted to $189,987, an 8% increase relative to $176,041 reported in 2023. Finance Charges for the fourth quarter amounted to 47,993 (2023: $43,413).

Profit before Taxation for the year ended December 31, 2024, had a 28% increase to reach $1.10 million (2023: $857,576). Taxation for the year amounted to $250,995, an 18% increase from the $213,039 reported in 2023. For the fourth quarter, Taxation was $65,372 (2023: $19,470).

Net Profit increased by 34% to $856,837 (2023: $650,608). Net Profit for the quarter totaled $258,374 relative to the $175,627 booked in the prior year’s quarter.

Equity holders of the parent for the period totaled $856,837, relative to the $639,363 reported twelve priors. For the quarter, Equity holders of the parent amounted to $258,374 compared to the $175,627 reported in 2023.

Consequently, Earnings Per Share for the year amounted to $3.69 (2023: EPS: $2.76), while Earnings Per Share for the quarter totaled $1.11 (2023: EPS: $0.76). The twelve-month trailing EPS was $3.69, and the number of shares used in these calculations was 232,024,923.

Notably, GHL’s stock price closed the trading period on April 08, 2025, at a price of $308.22 with a corresponding P/E ratio of 3.56x.

Balance Sheet Highlights

The company’s assets totalled $36.96 million (2023: $34.77 million). The overall growth in the company’s asset base was primarily driven by several key increases: a 37% year-over-year (YoY) rise in Cash and Cash Equivalents, which closed the year at $4.05 million (2023: $2.96 million); a 2% YoY increase in Investment Securities, ending at $25.51 million (2023: $25.09 million); a 19% YoY growth in Loans and Receivables, reaching $2.35 million (2023: $1.97 million); an 11% YoY rise in Reinsurance Assets, which totalled $795,121 (2023: $718,365); and a 50% YoY increase in Insurance Contract Assets, closing at $154,755 (2023: $103,003).

Shareholder’s equity was $4.57 million (2023: $3.76 million), representing a book value per share of $19.71 (2023: $16.23).

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