Olympia Financial Group Inc. Announces 2024 Annual Results

About this update from Olympia Financial Group Inc.

[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - February 27, 2025) - Olympia Financial Group Inc. (TSX: OLY) ("Olympia") today announces its operating and financial results for the year ended December 31, 2024.","length":208,"tagName":"p"},{"type":"text","content":"The audited financial statements and notes, as well as management's discussion and analysis, are now available on SEDAR (www.sedarplus.ca).","length":143,"tagName":"p"},{"type":"text","content":"Results from operations for the year ended December 31, 2024, include the following (compared to operations for the year ended December 31, 2023):","length":146,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total net earnings and comprehensive income decreased less than 1% to $23.92 million from $23.96 million.","length":105,"tagName":"p"}]},{"val":[{"type":"text","content":"Total revenue increased 3% to $102.92 million from $100.21 million mainly due to an increase in trust income.","length":109,"tagName":"p"}]},{"val":[{"type":"text","content":"Service revenue decreased 1% to $47.78 million from $48.26 million mainly due to lower trading profits and losses.","length":114,"tagName":"p"}]},{"val":[{"type":"text","content":"Trust, interest, and other income increased 6% to $55.14 million from $51.95 million, due to an increase in the total amount of funds held in trust over the previous 12 months.","length":176,"tagName":"p"}]},{"val":[{"type":"text","content":"Other gains, net, decreased 60% to $0.02 million from $0.05 million, mainly due to a decrease in unrealized foreign exchange forward contract gains.","length":148,"tagName":"p"}]},{"val":[{"type":"text","content":"Direct and administrative expenses (excluding depreciation and amortization) increased 5% to $68.75 million from $65.41 million, mainly due to an increase in salaries, bonuses and computer network maintenance.","length":209,"tagName":"p"}]},{"val":[{"type":"text","content":"Earnings before income tax decreased 2% to $31.00 million from $31.59 million.","length":78,"tagName":"p"}]},{"val":[{"type":"text","content":"Income tax expense is recognized based on the estimated average annual income tax rate for the full financial year. A tax rate of 24% was used for the year ended December 31, 2024, which is consistent with the prior year.","length":221,"tagName":"p"}]},{"val":[{"type":"tex...

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