AQAR REAL ESTATE INVESTMENTS CO.

Aqar Real Estate Investments Company (K.S.C.P)

AQARStocksBoursa KuwaitReal Estate

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	622.69K	425.06K	577.21K	358.74K	435.79K
Real Estate Asset Acquisitions	-0.55K	-0.12K	-0.16K	-5.01K	-17.43K
Investing & Financing
Investing Cash Flow	3.24M	1.23M	-1.16M	-1.28M	-2.71M
Dividends Paid	-672.38K	-464.86K	-36.10K	-733.20K	-199.91K
Share Repurchase	-0.80K	-668.52K	-0.03K	-90.63K	—
Operating Activities
Operating Cash Flow	622.69K	425.06K	577.21K	358.74K	435.79K
Net Income	1.75M	0.97M	0.94M	0.98M	0.61M
Change Accounts Payable RE	140.30K	153.52K	39.37K	-52.88K	6.37K
Change Accounts Receivable RE	34.77K	-23.17K	51.28K	-93.26K	69.21K
Change in Working Capital	175.08K	130.34K	90.65K	-209.16K	5.34K
Change Other Net Oper Assets RE	—	—	—	-63.02K	-70.24K
Other Operating Activities RE	-1.08M	-0.31M	0.04M	-0.01M	0.18M
Depreciation & Amortization	8.77K	21.33K	21.52K	22.15K	21.30K
Cash Interest Paid	380.79K	417.25K	418.64K	194.42K	177.81K
Loss (Gain) on Equity Investments	-768.44K	-396.43K	-543.24K	-435.98K	-418.28K
Asset Writedown Cfre	418.06K	-42.99K	54.54K	12.34K	-314.98K
Investing Activities
Investing Cash Flow	3.24M	1.23M	-1.16M	-1.28M	-2.71M
Invest In Securities RE	2.75M	0.70M	-1.57M	-1.46M	-2.75M
Other Investing Activities RE	482.48K	527.36K	409.15K	191.29K	53.64K
Acquisition Real Estate Assets	-0.55K	-0.12K	-0.16K	-5.01K	-17.43K
Net Sale Acquisition Real Estate Assets	-0.55K	-0.12K	-0.16K	-5.01K	-17.43K
Loss (Gain) on Sale of Investments	102.28K	—	—	—	406.19K
Financing Activities
Common Dividends Paid	-672.38K	-464.86K	-36.10K	-733.20K	-199.91K
Issuance of Common Stock	0.15M	0.01M	—	—	2.08M
Repurchase of Common Stock	-0.80K	-668.52K	-0.03K	-90.63K	—
Long-Term Debt Issued	—	—	—	311.69K	—
Short-Term Debt Issued	—	0.35M	—	1.00M	—
Total Debt Issued	—	0.35M	—	1.31M	—
Long-Term Debt Repaid	-350.91K	-293.51K	-258.63K	—	-621.15K
Short-Term Debt Repaid	-242.06K	—	-152.00K	—	-160.00K
Total Debt Repaid	-592.97K	-293.51K	-410.63K	—	-781.15K
Net Debt Issued (Repaid)	-0.59M	0.06M	-0.41M	1.31M	-0.78M
Other Financing Activities RE	-380.79K	-417.25K	-418.64K	-194.42K	-177.81K
Free Cash Flow & Returns
Levered Free Cash Flow	1.67M	0.76M	0.72M	0.66M	0.17M
Unlevered Free Cash Flow	1.91M	1.03M	0.98M	0.81M	0.29M
Operating Cash Flow Growth	+46.5%	-26.4%	+60.9%	-17.7%	+72.8%
Net Cash Flow	2.36M	0.17M	-1.45M	-0.63M	-1.36M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	622.69K	425.06K	577.21K	358.74K	435.79K
Real Estate Asset Acquisitions	-0.55K	-0.12K	-0.16K	-5.01K	-17.43K
Investing & Financing
Investing Cash Flow	3.24M	1.23M	-1.16M	-1.28M	-2.71M
Dividends Paid	-672.38K	-464.86K	-36.10K	-733.20K	-199.91K
Share Repurchase	-0.80K	-668.52K	-0.03K	-90.63K	—
Operating Activities
Operating Cash Flow	622.69K	425.06K	577.21K	358.74K	435.79K
Net Income	1.75M	0.97M	0.94M	0.98M	0.61M
Change Accounts Payable RE	140.30K	153.52K	39.37K	-52.88K	6.37K
Change Accounts Receivable RE	34.77K	-23.17K	51.28K	-93.26K	69.21K
Change in Working Capital	175.08K	130.34K	90.65K	-209.16K	5.34K
Change Other Net Oper Assets RE	—	—	—	-63.02K	-70.24K
Other Operating Activities RE	-1.08M	-0.31M	0.04M	-0.01M	0.18M
Depreciation & Amortization	8.77K	21.33K	21.52K	22.15K	21.30K
Cash Interest Paid	380.79K	417.25K	418.64K	194.42K	177.81K
Loss (Gain) on Equity Investments	-768.44K	-396.43K	-543.24K	-435.98K	-418.28K
Asset Writedown Cfre	418.06K	-42.99K	54.54K	12.34K	-314.98K
Investing Activities
Investing Cash Flow	3.24M	1.23M	-1.16M	-1.28M	-2.71M
Invest In Securities RE	2.75M	0.70M	-1.57M	-1.46M	-2.75M
Other Investing Activities RE	482.48K	527.36K	409.15K	191.29K	53.64K
Acquisition Real Estate Assets	-0.55K	-0.12K	-0.16K	-5.01K	-17.43K
Net Sale Acquisition Real Estate Assets	-0.55K	-0.12K	-0.16K	-5.01K	-17.43K
Loss (Gain) on Sale of Investments	102.28K	—	—	—	406.19K
Financing Activities
Common Dividends Paid	-672.38K	-464.86K	-36.10K	-733.20K	-199.91K
Issuance of Common Stock	0.15M	0.01M	—	—	2.08M
Repurchase of Common Stock	-0.80K	-668.52K	-0.03K	-90.63K	—
Long-Term Debt Issued	—	—	—	311.69K	—
Short-Term Debt Issued	—	0.35M	—	1.00M	—
Total Debt Issued	—	0.35M	—	1.31M	—
Long-Term Debt Repaid	-350.91K	-293.51K	-258.63K	—	-621.15K
Short-Term Debt Repaid	-242.06K	—	-152.00K	—	-160.00K
Total Debt Repaid	-592.97K	-293.51K	-410.63K	—	-781.15K
Net Debt Issued (Repaid)	-0.59M	0.06M	-0.41M	1.31M	-0.78M
Other Financing Activities RE	-380.79K	-417.25K	-418.64K	-194.42K	-177.81K
Free Cash Flow & Returns
Levered Free Cash Flow	1.67M	0.76M	0.72M	0.66M	0.17M
Unlevered Free Cash Flow	1.91M	1.03M	0.98M	0.81M	0.29M
Operating Cash Flow Growth	+46.5%	-26.4%	+60.9%	-17.7%	+72.8%
Net Cash Flow	2.36M	0.17M	-1.45M	-0.63M	-1.36M