APEX INVESTMENT

APEX INVESTMENT P.S.C

APEXStocksAbu Dhabi Securities ExchangeMaterials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	865.16M	852.85M	723.49M	820.30M	166.74M
Cost of Revenue	676.71M	661.49M	598.93M	596.74M	172.36M
Gross Profit	188.45M	191.36M	124.55M	223.56M	-5.62M
SG&A	81.03M	68.99M	64.69M	53.37M	16.04M
Operating Expenses	88.93M	80.49M	53.23M	63.16M	17.22M
Operating Income	99.51M	110.87M	71.32M	160.39M	-22.84M
Interest Income	27.96M	37.56M	9.46M	0.78M	0.79M
Interest Expense	-1.33M	-1.56M	-1.91M	-1.41M	-2.40M
Other Income/Expense	—	—	—	—	902.80K
Pretax Income	47.83M	86.30M	-58.43M	187.19M	2.98M
Income Tax	9.83M	10.65M	—	—	—
Net Income	38.00M	75.64M	-58.43M	187.19M	2.98M
EBITDA	140.31M	148.12M	103.53M	183.53M	-7.85M
EBIT	99.51M	110.87M	71.32M	160.39M	-22.84M
EPS (Basic)	0.01	0.02	-0.02	0.06	0.01
EPS (Diluted)	0.01	0.02	-0.02	0.06	0.01
Margins & Efficiency
Gross Margin %	+21.8%	+22.4%	+17.2%	+27.3%	-3.4%
EBITDA Margin %	+16.2%	+17.4%	+14.3%	+22.4%	-4.7%
Net Margin %	+4.4%	+8.9%	-8.1%	+22.8%	+1.8%
Revenue & Income
Revenue	865.16M	852.85M	723.49M	820.30M	166.74M
Revenue Growth (YoY)	+1.4%	+17.9%	-11.8%	+392.0%	+8.9%
Interest & Investment Income	27.96M	37.56M	9.46M	0.78M	0.79M
Earnings From Equity Investments	2.98M	-2.67M	-7.87M	-6.50M	-2.86M
Gain (Loss) on Sale of Investments	-81.30M	-57.90M	-129.43M	33.92M	29.39M
Expenses & Provisions
Cost of Revenue	676.71M	661.49M	598.93M	596.74M	172.36M
Selling, General & Admin	81.03M	68.99M	64.69M	53.37M	16.04M
Operating Expenses	88.93M	80.49M	53.23M	63.16M	17.22M
Other Operating Expenses	-1.79M	-0.20M	-1.40M	-3.01M	—
Interest Expense	-1.33M	-1.56M	-1.91M	-1.41M	-2.40M
Other Non Operating Income (Expenses)	—	—	—	—	902.80K
Amortization of Goodwill & Intangibles	2.57M	—	—	—	—
D&A For EBITDA	40.80M	37.25M	32.21M	23.14M	14.99M
Profitability & Returns
Gross Profit	188.45M	191.36M	124.55M	223.56M	-5.62M
Gross Margin	+21.8%	+22.4%	+17.2%	+27.3%	-3.4%
EBIT	99.51M	110.87M	71.32M	160.39M	-22.84M
EBIT Margin	+11.5%	+13.0%	+9.9%	+19.6%	-13.7%
EBITDA	140.31M	148.12M	103.53M	183.53M	-7.85M
EBITDA Margin	+16.2%	+17.4%	+14.3%	+22.4%	-4.7%
EBT Excluding Unusual Items	129.13M	144.20M	71.00M	153.27M	-26.41M
Pretax Income	47.83M	86.30M	-58.43M	187.19M	2.98M
Operating Income	99.51M	110.87M	71.32M	160.39M	-22.84M
Operating Margin	+11.5%	+13.0%	+9.9%	+19.6%	-13.7%
Profit Margin	+4.4%	+8.9%	-8.1%	+22.8%	+1.8%
Net Income	38.00M	75.64M	-58.43M	187.19M	2.98M
Net Income to Common	38.00M	75.64M	-58.43M	187.19M	2.98M
Net Income Growth	-49.8%	—	—	+6,179.7%	—
Income Tax Expense	9.83M	10.65M	—	—	—
Effective Tax Rate	+20.6%	+12.3%	—	—	—
Per Share & Capital
EPS (Basic)	0.01	0.02	-0.02	0.06	0.01
EPS (Diluted)	0.01	0.02	-0.02	0.06	0.01
EPS Growth	-49.8%	—	—	+932.6%	—
Shares Change (YoY)	—	—	0.16	5.08	—
Shares Outstanding (Basic)	3.55B	3.55B	3.55B	3.06B	0.50B
Shares Outstanding (Diluted)	3.55B	3.55B	3.55B	3.06B	0.50B
Free Cash Flow	49.37M	205.53M	467.81M	141.49M	-36.81M
Free Cash Flow Margin	+5.7%	+24.1%	+64.7%	+17.2%	-22.1%
Free Cash Flow Per Share	0.01	0.06	0.13	0.05	-0.07
Payout Ratio	—	—	—	—	+3.3%

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	865.16M	852.85M	723.49M	820.30M	166.74M
Cost of Revenue	676.71M	661.49M	598.93M	596.74M	172.36M
Gross Profit	188.45M	191.36M	124.55M	223.56M	-5.62M
SG&A	81.03M	68.99M	64.69M	53.37M	16.04M
Operating Expenses	88.93M	80.49M	53.23M	63.16M	17.22M
Operating Income	99.51M	110.87M	71.32M	160.39M	-22.84M
Interest Income	27.96M	37.56M	9.46M	0.78M	0.79M
Interest Expense	-1.33M	-1.56M	-1.91M	-1.41M	-2.40M
Other Income/Expense	—	—	—	—	902.80K
Pretax Income	47.83M	86.30M	-58.43M	187.19M	2.98M
Income Tax	9.83M	10.65M	—	—	—
Net Income	38.00M	75.64M	-58.43M	187.19M	2.98M
EBITDA	140.31M	148.12M	103.53M	183.53M	-7.85M
EBIT	99.51M	110.87M	71.32M	160.39M	-22.84M
EPS (Basic)	0.01	0.02	-0.02	0.06	0.01
EPS (Diluted)	0.01	0.02	-0.02	0.06	0.01
Margins & Efficiency
Gross Margin %	+21.8%	+22.4%	+17.2%	+27.3%	-3.4%
EBITDA Margin %	+16.2%	+17.4%	+14.3%	+22.4%	-4.7%
Net Margin %	+4.4%	+8.9%	-8.1%	+22.8%	+1.8%
Revenue & Income
Revenue	865.16M	852.85M	723.49M	820.30M	166.74M
Revenue Growth (YoY)	+1.4%	+17.9%	-11.8%	+392.0%	+8.9%
Interest & Investment Income	27.96M	37.56M	9.46M	0.78M	0.79M
Earnings From Equity Investments	2.98M	-2.67M	-7.87M	-6.50M	-2.86M
Gain (Loss) on Sale of Investments	-81.30M	-57.90M	-129.43M	33.92M	29.39M
Expenses & Provisions
Cost of Revenue	676.71M	661.49M	598.93M	596.74M	172.36M
Selling, General & Admin	81.03M	68.99M	64.69M	53.37M	16.04M
Operating Expenses	88.93M	80.49M	53.23M	63.16M	17.22M
Other Operating Expenses	-1.79M	-0.20M	-1.40M	-3.01M	—
Interest Expense	-1.33M	-1.56M	-1.91M	-1.41M	-2.40M
Other Non Operating Income (Expenses)	—	—	—	—	902.80K
Amortization of Goodwill & Intangibles	2.57M	—	—	—	—
D&A For EBITDA	40.80M	37.25M	32.21M	23.14M	14.99M
Profitability & Returns
Gross Profit	188.45M	191.36M	124.55M	223.56M	-5.62M
Gross Margin	+21.8%	+22.4%	+17.2%	+27.3%	-3.4%
EBIT	99.51M	110.87M	71.32M	160.39M	-22.84M
EBIT Margin	+11.5%	+13.0%	+9.9%	+19.6%	-13.7%
EBITDA	140.31M	148.12M	103.53M	183.53M	-7.85M
EBITDA Margin	+16.2%	+17.4%	+14.3%	+22.4%	-4.7%
EBT Excluding Unusual Items	129.13M	144.20M	71.00M	153.27M	-26.41M
Pretax Income	47.83M	86.30M	-58.43M	187.19M	2.98M
Operating Income	99.51M	110.87M	71.32M	160.39M	-22.84M
Operating Margin	+11.5%	+13.0%	+9.9%	+19.6%	-13.7%
Profit Margin	+4.4%	+8.9%	-8.1%	+22.8%	+1.8%
Net Income	38.00M	75.64M	-58.43M	187.19M	2.98M
Net Income to Common	38.00M	75.64M	-58.43M	187.19M	2.98M
Net Income Growth	-49.8%	—	—	+6,179.7%	—
Income Tax Expense	9.83M	10.65M	—	—	—
Effective Tax Rate	+20.6%	+12.3%	—	—	—
Per Share & Capital
EPS (Basic)	0.01	0.02	-0.02	0.06	0.01
EPS (Diluted)	0.01	0.02	-0.02	0.06	0.01
EPS Growth	-49.8%	—	—	+932.6%	—
Shares Change (YoY)	—	—	0.16	5.08	—
Shares Outstanding (Basic)	3.55B	3.55B	3.55B	3.06B	0.50B
Shares Outstanding (Diluted)	3.55B	3.55B	3.55B	3.06B	0.50B
Free Cash Flow	49.37M	205.53M	467.81M	141.49M	-36.81M
Free Cash Flow Margin	+5.7%	+24.1%	+64.7%	+17.2%	-22.1%
Free Cash Flow Per Share	0.01	0.06	0.13	0.05	-0.07
Payout Ratio	—	—	—	—	+3.3%