INVICTUS INVESTMENT

Invictus Investment Company PLC

INVICTUSStocksAbu Dhabi Securities ExchangeIndustrials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (AED)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	0.90B	1.01B	0.37B	0.54B	0.02B
Cash & Short-Term Investments	0.90B	1.01B	0.37B	0.54B	0.02B
Receivables	3.04B	2.35B	1.57B	1.31B	0.80B
Inventory	1.19B	0.76B	0.61B	0.58B	0.00B
Current Assets	5.36B	4.35B	2.64B	2.69B	1.07B
PP&E	694.91M	198.01M	34.90M	5.34M	5.02M
Goodwill	291.13M	85.85M	—	—	—
Intangible Assets	205.83M	41.89M	0.99M	1.28M	—
Total Assets	6.57B	4.71B	2.68B	2.70B	1.07B
Liabilities
Accounts Payable	571.00M	545.10M	416.36M	818.02M	120.97M
Current Liabilities	4.47B	2.74B	1.61B	1.67B	0.82B
Long-Term Debt	554.94M	667.32M	—	—	—
Short-Term Debt	3.31B	1.98B	0.90B	0.73B	0.46B
Total Debt	4.11B	2.68B	1.09B	0.73B	0.46B
Total Liabilities	5.13B	3.48B	1.62B	1.67B	0.82B
Equity & Ownership
Retained Earnings	809.53M	616.63M	493.25M	454.59M	250.00M
Total Equity	1.44B	1.23B	1.07B	1.03B	0.25B
Net Debt	3.21B	1.67B	0.72B	0.20B	0.44B
Shares Outstanding	1,120,000,000	1,120,000,000	1,120,000,000	1,120,000,000	4,000,000
Cash & Assets
Total Assets	6.57B	4.71B	2.68B	2.70B	1.07B
Total Current Assets	5.36B	4.35B	2.64B	2.69B	1.07B
Cash & Equivalents	0.90B	1.01B	0.37B	0.54B	0.02B
Cash & Short-Term Investments	0.90B	1.01B	0.37B	0.54B	0.02B
Net Cash (Debt)	-3.21B	-1.67B	-0.72B	-0.20B	-0.44B
Net Cash Per Share	-2.87	-1.49	-0.64	-0.25	-109.78
Cash Growth	-11.5%	+173.7%	-31.1%	+3,018.2%	-36.4%
Accounts Receivable	2.82B	2.21B	1.55B	1.30B	0.79B
Other Receivables	215.79M	135.68M	26.54M	8.71M	4.69M
Receivables	3.04B	2.35B	1.57B	1.31B	0.80B
Inventory	1.19B	0.76B	0.61B	0.58B	0.00B
Prepaid Expenses	10.71M	1.84M	0.53M	0.41M	1.39M
Construction In Progress	19.24M	12.27M	10.00M	7.89M	4.87M
Land	447.83M	89.10M	17.57M	—	—
Buildings	—	—	—	—	—
Machinery	437.99M	17.85M	4.89M	0.83M	0.72M
Property, Plant & Equipment	694.91M	198.01M	34.90M	5.34M	5.02M
Goodwill	291.13M	85.85M	—	—	—
Other Intangible Assets	205.83M	41.89M	0.99M	1.28M	—
Other Current Assets	217.68M	231.19M	88.86M	254.85M	246.97M
Other Long-Term Assets	7.74M	11.62M	—	—	—
Long-Term Deferred Tax Assets	13.03M	7.59M	—	—	—
Long-Term Leases	40.57M	29.01M	6.90M	—	—
Current Portion of Leases	5.19M	3.61M	0.47M	—	—
Loans & Investments
Short-Term Investments	1.52M	1.65M	1.03M	0.60M	0.59M
Long-Term Investments	5.03M	6.30M	3.80M	4.90M	—
Liabilities & Obligations
Total Liabilities	5.13B	3.48B	1.62B	1.67B	0.82B
Total Liabilities & Equity	6.57B	4.71B	2.68B	2.70B	1.07B
Total Current Liabilities	4.47B	2.74B	1.61B	1.67B	0.82B
Accounts Payable	571.00M	545.10M	416.36M	818.02M	120.97M
Accrued Expenses	195.30M	119.40M	66.43M	67.13M	43.84M
Current Income Taxes Payable	33.81M	7.42M	—	—	—
Current Unearned Revenue	87.62M	63.97M	40.47M	27.38M	108.72M
Other Current Liabilities	69.21M	22.50M	—	23.96M	91.77M
Pension & Post-Retirement Benefits	3.92M	1.54M	0.62M	—	—
Long-Term Deferred Tax Liabilities	31.73M	24.66M	—	—	—
Other Long-Term Liabilities	25.47M	9.43M	—	—	—
Debt & Funding
Long-Term Debt	554.94M	667.32M	—	—	—
Short-Term Debt	3.31B	1.98B	0.90B	0.73B	0.46B
Total Debt	4.11B	2.68B	1.09B	0.73B	0.46B
Current Portion of Long-Term Debt	205.66M	2.87M	183.65M	—	—
Equity & Book Value
Shareholders' Equity	1.44B	1.23B	1.07B	1.03B	0.25B
Total Common Equity	1.39B	1.19B	1.07B	1.03B	0.25B
Common Stock	280.00M	280.00M	280.00M	280.00M	—
Additional Paid-In Capital	294.00M	294.00M	294.00M	294.00M	—
Retained Earnings	809.53M	616.63M	493.25M	454.59M	250.00M
Comprehensive Income & Other	5.20M	-3.88M	—	—	—
Minority Interest	54.79M	43.88M	—	—	—
Book Value Per Share	1.24	1.06	0.95	0.92	62.50
Tangible Book Value	0.89B	1.06B	1.07B	1.03B	0.25B
Tangible Book Value Per Share	0.80	0.95	0.95	0.92	62.50
Filing Date Shares Outstanding	1.12B	1.12B	1.12B	1.12B	0.00B
Total Common Shares Outstanding	1.12B	1.12B	1.12B	1.12B	0.00B
Working Capital	0.88B	1.61B	1.04B	1.02B	0.24B

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (AED)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	0.90B	1.01B	0.37B	0.54B	0.02B
Cash & Short-Term Investments	0.90B	1.01B	0.37B	0.54B	0.02B
Receivables	3.04B	2.35B	1.57B	1.31B	0.80B
Inventory	1.19B	0.76B	0.61B	0.58B	0.00B
Current Assets	5.36B	4.35B	2.64B	2.69B	1.07B
PP&E	694.91M	198.01M	34.90M	5.34M	5.02M
Goodwill	291.13M	85.85M	—	—	—
Intangible Assets	205.83M	41.89M	0.99M	1.28M	—
Total Assets	6.57B	4.71B	2.68B	2.70B	1.07B
Liabilities
Accounts Payable	571.00M	545.10M	416.36M	818.02M	120.97M
Current Liabilities	4.47B	2.74B	1.61B	1.67B	0.82B
Long-Term Debt	554.94M	667.32M	—	—	—
Short-Term Debt	3.31B	1.98B	0.90B	0.73B	0.46B
Total Debt	4.11B	2.68B	1.09B	0.73B	0.46B
Total Liabilities	5.13B	3.48B	1.62B	1.67B	0.82B
Equity & Ownership
Retained Earnings	809.53M	616.63M	493.25M	454.59M	250.00M
Total Equity	1.44B	1.23B	1.07B	1.03B	0.25B
Net Debt	3.21B	1.67B	0.72B	0.20B	0.44B
Shares Outstanding	1,120,000,000	1,120,000,000	1,120,000,000	1,120,000,000	4,000,000
Cash & Assets
Total Assets	6.57B	4.71B	2.68B	2.70B	1.07B
Total Current Assets	5.36B	4.35B	2.64B	2.69B	1.07B
Cash & Equivalents	0.90B	1.01B	0.37B	0.54B	0.02B
Cash & Short-Term Investments	0.90B	1.01B	0.37B	0.54B	0.02B
Net Cash (Debt)	-3.21B	-1.67B	-0.72B	-0.20B	-0.44B
Net Cash Per Share	-2.87	-1.49	-0.64	-0.25	-109.78
Cash Growth	-11.5%	+173.7%	-31.1%	+3,018.2%	-36.4%
Accounts Receivable	2.82B	2.21B	1.55B	1.30B	0.79B
Other Receivables	215.79M	135.68M	26.54M	8.71M	4.69M
Receivables	3.04B	2.35B	1.57B	1.31B	0.80B
Inventory	1.19B	0.76B	0.61B	0.58B	0.00B
Prepaid Expenses	10.71M	1.84M	0.53M	0.41M	1.39M
Construction In Progress	19.24M	12.27M	10.00M	7.89M	4.87M
Land	447.83M	89.10M	17.57M	—	—
Buildings	—	—	—	—	—
Machinery	437.99M	17.85M	4.89M	0.83M	0.72M
Property, Plant & Equipment	694.91M	198.01M	34.90M	5.34M	5.02M
Goodwill	291.13M	85.85M	—	—	—
Other Intangible Assets	205.83M	41.89M	0.99M	1.28M	—
Other Current Assets	217.68M	231.19M	88.86M	254.85M	246.97M
Other Long-Term Assets	7.74M	11.62M	—	—	—
Long-Term Deferred Tax Assets	13.03M	7.59M	—	—	—
Long-Term Leases	40.57M	29.01M	6.90M	—	—
Current Portion of Leases	5.19M	3.61M	0.47M	—	—
Loans & Investments
Short-Term Investments	1.52M	1.65M	1.03M	0.60M	0.59M
Long-Term Investments	5.03M	6.30M	3.80M	4.90M	—
Liabilities & Obligations
Total Liabilities	5.13B	3.48B	1.62B	1.67B	0.82B
Total Liabilities & Equity	6.57B	4.71B	2.68B	2.70B	1.07B
Total Current Liabilities	4.47B	2.74B	1.61B	1.67B	0.82B
Accounts Payable	571.00M	545.10M	416.36M	818.02M	120.97M
Accrued Expenses	195.30M	119.40M	66.43M	67.13M	43.84M
Current Income Taxes Payable	33.81M	7.42M	—	—	—
Current Unearned Revenue	87.62M	63.97M	40.47M	27.38M	108.72M
Other Current Liabilities	69.21M	22.50M	—	23.96M	91.77M
Pension & Post-Retirement Benefits	3.92M	1.54M	0.62M	—	—
Long-Term Deferred Tax Liabilities	31.73M	24.66M	—	—	—
Other Long-Term Liabilities	25.47M	9.43M	—	—	—
Debt & Funding
Long-Term Debt	554.94M	667.32M	—	—	—
Short-Term Debt	3.31B	1.98B	0.90B	0.73B	0.46B
Total Debt	4.11B	2.68B	1.09B	0.73B	0.46B
Current Portion of Long-Term Debt	205.66M	2.87M	183.65M	—	—
Equity & Book Value
Shareholders' Equity	1.44B	1.23B	1.07B	1.03B	0.25B
Total Common Equity	1.39B	1.19B	1.07B	1.03B	0.25B
Common Stock	280.00M	280.00M	280.00M	280.00M	—
Additional Paid-In Capital	294.00M	294.00M	294.00M	294.00M	—
Retained Earnings	809.53M	616.63M	493.25M	454.59M	250.00M
Comprehensive Income & Other	5.20M	-3.88M	—	—	—
Minority Interest	54.79M	43.88M	—	—	—
Book Value Per Share	1.24	1.06	0.95	0.92	62.50
Tangible Book Value	0.89B	1.06B	1.07B	1.03B	0.25B
Tangible Book Value Per Share	0.80	0.95	0.95	0.92	62.50
Filing Date Shares Outstanding	1.12B	1.12B	1.12B	1.12B	0.00B
Total Common Shares Outstanding	1.12B	1.12B	1.12B	1.12B	0.00B
Working Capital	0.88B	1.61B	1.04B	1.02B	0.24B