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
Operating Summary
Revenue	3.50M	2.16M	2.01M	1.85M	0.88M
Interest Expense	-375.89K	-417.25K	-417.85K	-251.86K	-191.56K
Pretax Income	1.76M	0.98M	0.95M	0.99M	0.61M
Income Tax	6.08K	10.70K	9.20K	9.42K	4.37K
Net Income	1.75M	0.97M	0.94M	0.98M	0.61M
Rental Revenue	1.13M	1.05M	1.02M	0.97M	0.86M
Property Expenses	193.69K	221.00K	182.28K	163.79K	128.24K
Operating Income	2.74M	1.31M	1.48M	1.34M	0.50M
EPS (Basic)	0.01	0.00	0.00	0.00	0.00
EPS (Diluted)	0.01	0.00	0.00	0.00	0.00
DPS	—	0.00	0.00	0.00	0.00
Margins & Efficiency
Net Margin %	+50.0%	+44.8%	+47.0%	+53.1%	+68.9%
Revenue & Income
Revenue Growth (YoY)	+62.1%	+7.6%	+8.6%	+110.3%	-38.9%
Revenue RE	3.50M	2.16M	2.01M	1.85M	0.88M
Rental Revenue	1.13M	1.05M	1.02M	0.97M	0.86M
Other Revenue RE	799.49K	411.19K	552.16K	498.93K	421.70K
Gain Investments RE	-102.28K	—	—	—	—
Currency Exchange Gain (Loss)	-91.63K	47.61K	-50.15K	-85.15K	-8.07K
Expenses & Provisions
SG&A RE	480.10K	520.49K	329.93K	296.18K	271.80K
Total Operating Expenses RE	757.74K	849.48K	529.79K	503.36K	382.57K
Interest Expense RE	-375.89K	-417.25K	-417.85K	-251.86K	-191.56K
Other Non Oper Exp Suppl RE	—	-5.02K	-3.36K	-4.66K	-1.65K
Property Expenses	193.69K	221.00K	182.28K	163.79K	128.24K
Asset Writedown	-418.06K	42.99K	-54.54K	-12.34K	314.98K
D&A For EBITDA	8.77K	21.33K	21.52K	22.15K	21.30K
Dep Amor RE	8.77K	21.33K	21.52K	22.15K	21.30K
Profitability & Returns
EBIT	2.74M	1.31M	1.48M	1.34M	0.50M
EBIT Margin	+78.4%	+60.7%	+73.6%	+72.8%	+56.5%
EBITDA	2.75M	1.33M	1.50M	1.37M	0.52M
EBITDA Margin	+78.6%	+61.7%	+74.7%	+74.0%	+58.9%
EBT Excl RE	2.28M	0.94M	1.01M	1.00M	0.29M
Pretax Income	1.76M	0.98M	0.95M	0.99M	0.61M
Operating Income RE	2.74M	1.31M	1.48M	1.34M	0.50M
Operating Margin	+78.4%	+60.7%	+73.6%	+72.8%	+56.5%
Profit Margin	+50.0%	+44.8%	+47.0%	+53.1%	+68.9%
Net Income	1.75M	0.97M	0.94M	0.98M	0.61M
Net Income to Common	1.75M	0.97M	0.94M	0.98M	0.61M
Net Income to Company	1.75M	0.97M	0.94M	0.98M	0.61M
Net Income Growth	+80.8%	+2.7%	-3.9%	+62.1%	—
Earnings From Continuing Ops.	1.75M	0.97M	0.94M	0.98M	0.61M
Income Tax Expense	6.08K	10.70K	9.20K	9.42K	4.37K
Effective Tax Rate	+0.3%	+1.1%	+1.0%	+1.0%	+0.7%
Net Interest Expense RE	-375.89K	-417.25K	-417.85K	-251.86K	-191.56K
Per Share & Capital
EPS (Basic)	0.01	0.00	0.00	0.00	0.00
EPS (Diluted)	0.01	0.00	0.00	0.00	0.00
EPS Growth	+85.3%	+4.2%	-3.5%	+50.0%	—
Dividend Per Share	—	0.00	0.00	0.00	0.00
Shares Change (YoY)	-0.02	-0.01	-0	0.08	0.02
Shares Outstanding (Basic)	224.13M	229.61M	232.90M	233.98M	216.44M
Shares Outstanding (Diluted)	224.13M	229.61M	232.90M	233.98M	216.44M
Dividend Growth	—	+50.0%	—	—	—
Payout Ratio	+38.4%	+48.0%	+3.8%	+74.7%	+33.0%
Supplemental
Other Operating Expenses RE	54.93K	27.61K	24.59K	24.43K	10.92K

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
Operating Summary
Revenue	3.50M	2.16M	2.01M	1.85M	0.88M
Interest Expense	-375.89K	-417.25K	-417.85K	-251.86K	-191.56K
Pretax Income	1.76M	0.98M	0.95M	0.99M	0.61M
Income Tax	6.08K	10.70K	9.20K	9.42K	4.37K
Net Income	1.75M	0.97M	0.94M	0.98M	0.61M
Rental Revenue	1.13M	1.05M	1.02M	0.97M	0.86M
Property Expenses	193.69K	221.00K	182.28K	163.79K	128.24K
Operating Income	2.74M	1.31M	1.48M	1.34M	0.50M
EPS (Basic)	0.01	0.00	0.00	0.00	0.00
EPS (Diluted)	0.01	0.00	0.00	0.00	0.00
DPS	—	0.00	0.00	0.00	0.00
Margins & Efficiency
Net Margin %	+50.0%	+44.8%	+47.0%	+53.1%	+68.9%
Revenue & Income
Revenue Growth (YoY)	+62.1%	+7.6%	+8.6%	+110.3%	-38.9%
Revenue RE	3.50M	2.16M	2.01M	1.85M	0.88M
Rental Revenue	1.13M	1.05M	1.02M	0.97M	0.86M
Other Revenue RE	799.49K	411.19K	552.16K	498.93K	421.70K
Gain Investments RE	-102.28K	—	—	—	—
Currency Exchange Gain (Loss)	-91.63K	47.61K	-50.15K	-85.15K	-8.07K
Expenses & Provisions
SG&A RE	480.10K	520.49K	329.93K	296.18K	271.80K
Total Operating Expenses RE	757.74K	849.48K	529.79K	503.36K	382.57K
Interest Expense RE	-375.89K	-417.25K	-417.85K	-251.86K	-191.56K
Other Non Oper Exp Suppl RE	—	-5.02K	-3.36K	-4.66K	-1.65K
Property Expenses	193.69K	221.00K	182.28K	163.79K	128.24K
Asset Writedown	-418.06K	42.99K	-54.54K	-12.34K	314.98K
D&A For EBITDA	8.77K	21.33K	21.52K	22.15K	21.30K
Dep Amor RE	8.77K	21.33K	21.52K	22.15K	21.30K
Profitability & Returns
EBIT	2.74M	1.31M	1.48M	1.34M	0.50M
EBIT Margin	+78.4%	+60.7%	+73.6%	+72.8%	+56.5%
EBITDA	2.75M	1.33M	1.50M	1.37M	0.52M
EBITDA Margin	+78.6%	+61.7%	+74.7%	+74.0%	+58.9%
EBT Excl RE	2.28M	0.94M	1.01M	1.00M	0.29M
Pretax Income	1.76M	0.98M	0.95M	0.99M	0.61M
Operating Income RE	2.74M	1.31M	1.48M	1.34M	0.50M
Operating Margin	+78.4%	+60.7%	+73.6%	+72.8%	+56.5%
Profit Margin	+50.0%	+44.8%	+47.0%	+53.1%	+68.9%
Net Income	1.75M	0.97M	0.94M	0.98M	0.61M
Net Income to Common	1.75M	0.97M	0.94M	0.98M	0.61M
Net Income to Company	1.75M	0.97M	0.94M	0.98M	0.61M
Net Income Growth	+80.8%	+2.7%	-3.9%	+62.1%	—
Earnings From Continuing Ops.	1.75M	0.97M	0.94M	0.98M	0.61M
Income Tax Expense	6.08K	10.70K	9.20K	9.42K	4.37K
Effective Tax Rate	+0.3%	+1.1%	+1.0%	+1.0%	+0.7%
Net Interest Expense RE	-375.89K	-417.25K	-417.85K	-251.86K	-191.56K
Per Share & Capital
EPS (Basic)	0.01	0.00	0.00	0.00	0.00
EPS (Diluted)	0.01	0.00	0.00	0.00	0.00
EPS Growth	+85.3%	+4.2%	-3.5%	+50.0%	—
Dividend Per Share	—	0.00	0.00	0.00	0.00
Shares Change (YoY)	-0.02	-0.01	-0	0.08	0.02
Shares Outstanding (Basic)	224.13M	229.61M	232.90M	233.98M	216.44M
Shares Outstanding (Diluted)	224.13M	229.61M	232.90M	233.98M	216.44M
Dividend Growth	—	+50.0%	—	—	—
Payout Ratio	+38.4%	+48.0%	+3.8%	+74.7%	+33.0%
Supplemental
Other Operating Expenses RE	54.93K	27.61K	24.59K	24.43K	10.92K