Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (AED)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	18.19B	16.10B	10.28B	5.79B	4.74B
Cost of Revenue	7.11B	6.69B	4.83B	2.93B	2.31B
Gross Profit	11.08B	9.41B	5.44B	2.86B	2.43B
SG&A	8.24B	6.72B	3.50B	1.71B	1.33B
Operating Expenses	9.45B	7.81B	4.12B	2.17B	1.78B
Operating Income	1.62B	1.60B	1.33B	0.68B	0.65B
Interest Income	121.39M	95.94M	64.15M	4.90M	24.20M
Interest Expense	-885.80M	-483.39M	-382.76M	-251.40M	-220.48M
Other Income/Expense	57.63M	60.43M	64.84M	118.57M	72.79M
Pretax Income	1.78B	1.52B	1.15B	0.59B	0.49B
Income Tax	227.46M	236.45M	115.11M	79.47M	33.69M
Net Income	0.75B	0.99B	0.81B	11.63B	0.49B
EBITDA	2.17B	2.17B	1.71B	1.08B	1.08B
EBIT	1.62B	1.60B	1.33B	0.68B	0.65B
EPS (Basic)	0.03	0.03	0.03	0.39	0.02
EPS (Diluted)	0.03	0.03	0.03	0.39	0.02
DPS	0.01	0.02	—	0.02	0.01
Margins & Efficiency
Gross Margin %	+60.9%	+58.5%	+53.0%	+49.4%	+51.3%
EBITDA Margin %	+11.9%	+13.5%	+16.7%	+18.7%	+22.8%
Net Margin %	+4.1%	+6.2%	+7.9%	+201.1%	+10.4%
Revenue & Income
Revenue	1.53B	1.35B	0.86B	0.49B	0.40B
Revenue as Reported	—	—	—	—	398.08M
Revenue Growth (YoY)	+12.9%	+56.7%	+77.6%	+22.1%	-74.8%
Interest & Investment Income	10.20M	8.06M	5.39M	0.41M	2.03M
Earnings From Equity Investments	8.91M	6.19M	-1.98M	4.45M	0.68M
Gain (Loss) on Sale of Assets	4.00M	1.23M	—	—	—
Gain (Loss) on Sale of Investments	7.81M	-2.59M	-6.28M	-13.80M	9.92M
Expenses & Provisions
Cost of Revenue	597.53M	562.11M	406.09M	246.13M	193.79M
Selling, General & Admin	692.06M	564.63M	294.02M	144.04M	111.48M
Operating Expenses	794.15M	656.13M	345.96M	182.68M	149.78M
Interest Expense	-74.43M	-40.62M	-32.16M	-21.12M	-18.53M
Other Non Operating Income (Expenses)	4.84M	5.08M	5.45M	9.96M	6.12M
Legal Settlements	42.60M	—	—	—	—
Merger & Restructuring Charges	—	—	-7.57M	—	—
Asset Writedown	9.20M	15.47M	22.53M	12.00M	-13.40M
Amortization of Goodwill & Intangibles	8.07M	10.32M	6.44M	4.80M	5.22M
D&A For EBITDA	45.74M	47.20M	32.53M	33.71M	36.24M
Profitability & Returns
Gross Profit	930.54M	790.92M	457.29M	240.03M	204.29M
Gross Margin	+60.9%	+58.5%	+53.0%	+49.4%	+51.3%
EBIT	136.39M	134.79M	111.33M	57.34M	54.51M
EBIT Margin	+8.9%	+10.0%	+12.9%	+11.8%	+13.7%
EBITDA	182.13M	181.98M	143.86M	91.05M	90.75M
EBITDA Margin	+11.9%	+13.5%	+16.7%	+18.7%	+22.8%
EBT Excluding Unusual Items	85.91M	113.50M	88.02M	51.05M	44.81M
Pretax Income	149.53M	127.60M	96.70M	49.25M	41.32M
Operating Income	136.39M	134.79M	111.33M	57.34M	54.51M
Operating Margin	+8.9%	+10.0%	+12.9%	+11.8%	+13.7%
Profit Margin	+4.1%	+6.2%	+7.9%	+201.1%	+10.4%
Net Income	62.63M	83.57M	68.04M	977.43M	41.58M
Net Income to Common	62.63M	83.57M	68.04M	977.43M	41.58M
Net Income to Company	130.42M	107.73M	87.03M	995.77M	50.73M
Net Income Growth	-25.1%	+22.8%	-93.0%	+2,250.9%	-52.1%
Earnings From Continuing Ops.	130.42M	107.73M	87.03M	42.58M	38.49M
Earnings From Discontinued Ops.	—	—	—	953.19M	12.24M
Minority Interest in Earnings	-67.79M	-24.16M	-18.99M	-18.34M	-9.16M
Income Tax Expense	19.11M	19.87M	9.67M	6.68M	2.83M
Effective Tax Rate	+12.8%	+15.6%	+10.0%	+13.6%	+6.9%
Per Share & Capital
EPS (Basic)	0.03	0.03	0.03	0.39	0.02
EPS (Diluted)	0.03	0.03	0.03	0.39	0.02
EPS Growth	-25.1%	+24.7%	-93.1%	+2,251.0%	-52.1%
Dividend Per Share	0.01	0.02	—	0.02	0.01
Shares Change (YoY)	—	-0.02	0	0	0
Shares Outstanding (Basic)	2.50B	2.50B	2.54B	2.53B	2.53B
Shares Outstanding (Diluted)	2.50B	2.50B	2.54B	2.53B	2.53B
Dividend Growth	-50.0%	—	—	+122.7%	+127.3%
Free Cash Flow	169.31M	159.33M	44.86M	116.25M	116.08M
Free Cash Flow Margin	+11.1%	+11.8%	+5.2%	+23.9%	+29.2%
Free Cash Flow Per Share	0.07	0.06	0.02	0.05	0.05
Payout Ratio	+81.5%	+0.4%	+61.2%	+2.0%	+19.6%

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

KWD AED

Annual (AED)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	18.19B	16.10B	10.28B	5.79B	4.74B
Cost of Revenue	7.11B	6.69B	4.83B	2.93B	2.31B
Gross Profit	11.08B	9.41B	5.44B	2.86B	2.43B
SG&A	8.24B	6.72B	3.50B	1.71B	1.33B
Operating Expenses	9.45B	7.81B	4.12B	2.17B	1.78B
Operating Income	1.62B	1.60B	1.33B	0.68B	0.65B
Interest Income	121.39M	95.94M	64.15M	4.90M	24.20M
Interest Expense	-885.80M	-483.39M	-382.76M	-251.40M	-220.48M
Other Income/Expense	57.63M	60.43M	64.84M	118.57M	72.79M
Pretax Income	1.78B	1.52B	1.15B	0.59B	0.49B
Income Tax	227.46M	236.45M	115.11M	79.47M	33.69M
Net Income	0.75B	0.99B	0.81B	11.63B	0.49B
EBITDA	2.17B	2.17B	1.71B	1.08B	1.08B
EBIT	1.62B	1.60B	1.33B	0.68B	0.65B
EPS (Basic)	0.03	0.03	0.03	0.39	0.02
EPS (Diluted)	0.03	0.03	0.03	0.39	0.02
DPS	0.01	0.02	—	0.02	0.01
Margins & Efficiency
Gross Margin %	+60.9%	+58.5%	+53.0%	+49.4%	+51.3%
EBITDA Margin %	+11.9%	+13.5%	+16.7%	+18.7%	+22.8%
Net Margin %	+4.1%	+6.2%	+7.9%	+201.1%	+10.4%
Revenue & Income
Revenue	1.53B	1.35B	0.86B	0.49B	0.40B
Revenue as Reported	—	—	—	—	398.08M
Revenue Growth (YoY)	+12.9%	+56.7%	+77.6%	+22.1%	-74.8%
Interest & Investment Income	10.20M	8.06M	5.39M	0.41M	2.03M
Earnings From Equity Investments	8.91M	6.19M	-1.98M	4.45M	0.68M
Gain (Loss) on Sale of Assets	4.00M	1.23M	—	—	—
Gain (Loss) on Sale of Investments	7.81M	-2.59M	-6.28M	-13.80M	9.92M
Expenses & Provisions
Cost of Revenue	597.53M	562.11M	406.09M	246.13M	193.79M
Selling, General & Admin	692.06M	564.63M	294.02M	144.04M	111.48M
Operating Expenses	794.15M	656.13M	345.96M	182.68M	149.78M
Interest Expense	-74.43M	-40.62M	-32.16M	-21.12M	-18.53M
Other Non Operating Income (Expenses)	4.84M	5.08M	5.45M	9.96M	6.12M
Legal Settlements	42.60M	—	—	—	—
Merger & Restructuring Charges	—	—	-7.57M	—	—
Asset Writedown	9.20M	15.47M	22.53M	12.00M	-13.40M
Amortization of Goodwill & Intangibles	8.07M	10.32M	6.44M	4.80M	5.22M
D&A For EBITDA	45.74M	47.20M	32.53M	33.71M	36.24M
Profitability & Returns
Gross Profit	930.54M	790.92M	457.29M	240.03M	204.29M
Gross Margin	+60.9%	+58.5%	+53.0%	+49.4%	+51.3%
EBIT	136.39M	134.79M	111.33M	57.34M	54.51M
EBIT Margin	+8.9%	+10.0%	+12.9%	+11.8%	+13.7%
EBITDA	182.13M	181.98M	143.86M	91.05M	90.75M
EBITDA Margin	+11.9%	+13.5%	+16.7%	+18.7%	+22.8%
EBT Excluding Unusual Items	85.91M	113.50M	88.02M	51.05M	44.81M
Pretax Income	149.53M	127.60M	96.70M	49.25M	41.32M
Operating Income	136.39M	134.79M	111.33M	57.34M	54.51M
Operating Margin	+8.9%	+10.0%	+12.9%	+11.8%	+13.7%
Profit Margin	+4.1%	+6.2%	+7.9%	+201.1%	+10.4%
Net Income	62.63M	83.57M	68.04M	977.43M	41.58M
Net Income to Common	62.63M	83.57M	68.04M	977.43M	41.58M
Net Income to Company	130.42M	107.73M	87.03M	995.77M	50.73M
Net Income Growth	-25.1%	+22.8%	-93.0%	+2,250.9%	-52.1%
Earnings From Continuing Ops.	130.42M	107.73M	87.03M	42.58M	38.49M
Earnings From Discontinued Ops.	—	—	—	953.19M	12.24M
Minority Interest in Earnings	-67.79M	-24.16M	-18.99M	-18.34M	-9.16M
Income Tax Expense	19.11M	19.87M	9.67M	6.68M	2.83M
Effective Tax Rate	+12.8%	+15.6%	+10.0%	+13.6%	+6.9%
Per Share & Capital
EPS (Basic)	0.03	0.03	0.03	0.39	0.02
EPS (Diluted)	0.03	0.03	0.03	0.39	0.02
EPS Growth	-25.1%	+24.7%	-93.1%	+2,251.0%	-52.1%
Dividend Per Share	0.01	0.02	—	0.02	0.01
Shares Change (YoY)	—	-0.02	0	0	0
Shares Outstanding (Basic)	2.50B	2.50B	2.54B	2.53B	2.53B
Shares Outstanding (Diluted)	2.50B	2.50B	2.54B	2.53B	2.53B
Dividend Growth	-50.0%	—	—	+122.7%	+127.3%
Free Cash Flow	169.31M	159.33M	44.86M	116.25M	116.08M
Free Cash Flow Margin	+11.1%	+11.8%	+5.2%	+23.9%	+29.2%
Free Cash Flow Per Share	0.07	0.06	0.02	0.05	0.05
Payout Ratio	+81.5%	+0.4%	+61.2%	+2.0%	+19.6%

Financials

Annual (AED)

MKHZN

Annual (AED)