A AYAN REAL ESTATE CO.

A'ayan Real Estate Company

AAYANREStocksBoursa KuwaitReal Estate

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	7.87M	6.86M	7.51M	5.28M	2.53M
Interest Expense	-888.23K	-771.33K	-687.42K	-692.88K	-738.10K
Pretax Income	4.39M	4.02M	3.78M	3.76M	0.04M
Income Tax	156.12K	94.91K	99.33K	101.37K	8.88K
Net Income	3.40M	2.91M	2.75M	2.64M	-0.77M
Rental Revenue	5.09M	4.90M	4.50M	4.25M	3.48M
Property Expenses	—	-0.00M	-0.00M	-0.01M	0.00M
Operating Income	5.35M	4.66M	4.83M	3.15M	0.81M
EPS (Basic)	0.01	0.01	0.01	0.01	-0.00
EPS (Diluted)	0.01	0.01	0.01	0.01	-0.00
DPS	0.01	0.01	0.01	0.01	—
Margins & Efficiency
Net Margin %	+43.2%	+42.4%	+36.7%	+50.1%	-30.5%
Revenue & Income
Revenue as Reported	—	—	7.17M	6.61M	2.50M
Revenue Growth (YoY)	+14.7%	-8.6%	+42.3%	+108.5%	—
Revenue RE	7.87M	6.86M	7.51M	5.28M	2.53M
Rental Revenue	5.09M	4.90M	4.50M	4.25M	3.48M
Other Revenue RE	1.71M	1.22M	0.82M	0.19M	-1.31M
Gain Assets RE	—	—	—	1.35M	—
Gain Assets Rev Real Estate	-84.24K	-15.04K	-20.17K	162.18K	-17.08K
Gain Investments Rev Real Estate	0.40M	0.17M	1.83M	-0.00M	-0.01M
Currency Exchange Gain (Loss)	-39.47K	19.57K	—	—	—
Expenses & Provisions
SG&A RE	861.52K	542.26K	603.60K	603.51K	373.85K
Total Operating Expenses RE	2.52M	2.21M	2.68M	2.13M	1.72M
Interest Expense RE	-888.23K	-771.33K	-687.42K	-692.88K	-738.10K
Other Non Oper Exp Suppl RE	-19.65K	-15.94K	-21.88K	-24.98K	-8.41K
Property Expenses	—	-0.00M	-0.00M	-0.01M	0.00M
Provision For Loan Losses	—	—	—	—	—
Legal Settlements RE	—	—	—	—	—
Asset Writedown	-0.01M	0.13M	-0.34M	-0.02M	-0.03M
D&A For EBITDA	63.89K	78.57K	88.94K	58.49K	37.75K
Profitability & Returns
EBIT	5.35M	4.66M	4.83M	3.15M	0.81M
EBIT Margin	+68.0%	+67.9%	+64.3%	+59.7%	+32.1%
EBITDA	5.41M	4.74M	4.92M	3.21M	0.85M
EBITDA Margin	+68.8%	+69.0%	+65.5%	+60.8%	+33.6%
EBT Excl RE	4.40M	3.89M	4.12M	2.43M	0.07M
Pretax Income	4.39M	4.02M	3.78M	3.76M	0.04M
Operating Income RE	5.35M	4.66M	4.83M	3.15M	0.81M
Operating Margin	+68.0%	+67.9%	+64.3%	+59.7%	+32.1%
Profit Margin	+43.2%	+42.4%	+36.7%	+50.1%	-30.5%
Net Income	3.40M	2.91M	2.75M	2.64M	-0.77M
Net Income to Common	3.40M	2.91M	2.75M	2.64M	-0.77M
Net Income Growth	+16.8%	+5.7%	+4.1%	—	—
Earnings From Continuing Ops.	4.24M	3.92M	3.68M	3.66M	0.03M
Minority Interest in Earnings	-0.84M	-1.01M	-0.93M	-1.02M	-0.80M
Income Tax Expense	156.12K	94.91K	99.33K	101.37K	8.88K
Effective Tax Rate	+3.6%	+2.4%	+2.6%	+2.7%	+24.2%
Net Interest Expense RE	-888.23K	-771.33K	-687.42K	-692.88K	-738.10K
Per Share & Capital
EPS (Basic)	0.01	0.01	0.01	0.01	-0.00
EPS (Diluted)	0.01	0.01	0.01	0.01	-0.00
EPS Growth	+16.7%	+5.8%	+4.1%	—	—
Dividend Per Share	0.01	0.01	0.01	0.01	—
Shares Change (YoY)	0	-0	0	0.01	0.03
Shares Outstanding (Basic)	415.64M	415.30M	415.64M	415.55M	413.48M
Shares Outstanding (Diluted)	415.64M	415.30M	415.64M	415.55M	413.48M
Dividend Growth	+20.0%	—	—	—	—
Payout Ratio	+60.7%	+71.0%	+74.9%	—	—
Supplemental
Other Operating Expenses RE	1.65M	1.72M	1.92M	1.51M	1.36M
Property Management Fees	603.91K	453.47K	280.43K	458.51K	198.61K

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	7.87M	6.86M	7.51M	5.28M	2.53M
Interest Expense	-888.23K	-771.33K	-687.42K	-692.88K	-738.10K
Pretax Income	4.39M	4.02M	3.78M	3.76M	0.04M
Income Tax	156.12K	94.91K	99.33K	101.37K	8.88K
Net Income	3.40M	2.91M	2.75M	2.64M	-0.77M
Rental Revenue	5.09M	4.90M	4.50M	4.25M	3.48M
Property Expenses	—	-0.00M	-0.00M	-0.01M	0.00M
Operating Income	5.35M	4.66M	4.83M	3.15M	0.81M
EPS (Basic)	0.01	0.01	0.01	0.01	-0.00
EPS (Diluted)	0.01	0.01	0.01	0.01	-0.00
DPS	0.01	0.01	0.01	0.01	—
Margins & Efficiency
Net Margin %	+43.2%	+42.4%	+36.7%	+50.1%	-30.5%
Revenue & Income
Revenue as Reported	—	—	7.17M	6.61M	2.50M
Revenue Growth (YoY)	+14.7%	-8.6%	+42.3%	+108.5%	—
Revenue RE	7.87M	6.86M	7.51M	5.28M	2.53M
Rental Revenue	5.09M	4.90M	4.50M	4.25M	3.48M
Other Revenue RE	1.71M	1.22M	0.82M	0.19M	-1.31M
Gain Assets RE	—	—	—	1.35M	—
Gain Assets Rev Real Estate	-84.24K	-15.04K	-20.17K	162.18K	-17.08K
Gain Investments Rev Real Estate	0.40M	0.17M	1.83M	-0.00M	-0.01M
Currency Exchange Gain (Loss)	-39.47K	19.57K	—	—	—
Expenses & Provisions
SG&A RE	861.52K	542.26K	603.60K	603.51K	373.85K
Total Operating Expenses RE	2.52M	2.21M	2.68M	2.13M	1.72M
Interest Expense RE	-888.23K	-771.33K	-687.42K	-692.88K	-738.10K
Other Non Oper Exp Suppl RE	-19.65K	-15.94K	-21.88K	-24.98K	-8.41K
Property Expenses	—	-0.00M	-0.00M	-0.01M	0.00M
Provision For Loan Losses	—	—	—	—	—
Legal Settlements RE	—	—	—	—	—
Asset Writedown	-0.01M	0.13M	-0.34M	-0.02M	-0.03M
D&A For EBITDA	63.89K	78.57K	88.94K	58.49K	37.75K
Profitability & Returns
EBIT	5.35M	4.66M	4.83M	3.15M	0.81M
EBIT Margin	+68.0%	+67.9%	+64.3%	+59.7%	+32.1%
EBITDA	5.41M	4.74M	4.92M	3.21M	0.85M
EBITDA Margin	+68.8%	+69.0%	+65.5%	+60.8%	+33.6%
EBT Excl RE	4.40M	3.89M	4.12M	2.43M	0.07M
Pretax Income	4.39M	4.02M	3.78M	3.76M	0.04M
Operating Income RE	5.35M	4.66M	4.83M	3.15M	0.81M
Operating Margin	+68.0%	+67.9%	+64.3%	+59.7%	+32.1%
Profit Margin	+43.2%	+42.4%	+36.7%	+50.1%	-30.5%
Net Income	3.40M	2.91M	2.75M	2.64M	-0.77M
Net Income to Common	3.40M	2.91M	2.75M	2.64M	-0.77M
Net Income Growth	+16.8%	+5.7%	+4.1%	—	—
Earnings From Continuing Ops.	4.24M	3.92M	3.68M	3.66M	0.03M
Minority Interest in Earnings	-0.84M	-1.01M	-0.93M	-1.02M	-0.80M
Income Tax Expense	156.12K	94.91K	99.33K	101.37K	8.88K
Effective Tax Rate	+3.6%	+2.4%	+2.6%	+2.7%	+24.2%
Net Interest Expense RE	-888.23K	-771.33K	-687.42K	-692.88K	-738.10K
Per Share & Capital
EPS (Basic)	0.01	0.01	0.01	0.01	-0.00
EPS (Diluted)	0.01	0.01	0.01	0.01	-0.00
EPS Growth	+16.7%	+5.8%	+4.1%	—	—
Dividend Per Share	0.01	0.01	0.01	0.01	—
Shares Change (YoY)	0	-0	0	0.01	0.03
Shares Outstanding (Basic)	415.64M	415.30M	415.64M	415.55M	413.48M
Shares Outstanding (Diluted)	415.64M	415.30M	415.64M	415.55M	413.48M
Dividend Growth	+20.0%	—	—	—	—
Payout Ratio	+60.7%	+71.0%	+74.9%	—	—
Supplemental
Other Operating Expenses RE	1.65M	1.72M	1.92M	1.51M	1.36M
Property Management Fees	603.91K	453.47K	280.43K	458.51K	198.61K