Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	7.96M	13.71M	4.11M	4.60M	6.18M
Cash & Short-Term Investments	7.96M	13.71M	4.11M	4.60M	6.30M
Receivables	25.42M	26.51M	23.21M	22.62M	45.15M
Inventory	0.12M	0.10M	0.11M	0.19M	0.34M
Current Assets	41.14M	49.30M	30.03M	29.89M	56.46M
PP&E	84.13M	91.10M	38.71M	32.31M	48.63M
Intangible Assets	—	—	—	—	172.27K
Total Assets	228.05M	213.00M	135.52M	128.06M	179.86M
Liabilities
Accounts Payable	15.13M	14.94M	2.91M	2.33M	6.21M
Current Liabilities	37.97M	34.45M	29.01M	27.39M	43.56M
Long-Term Debt	58.45M	41.80M	28.59M	22.59M	28.51M
Total Debt	151.03M	135.75M	62.72M	54.49M	67.04M
Total Liabilities	175.17M	158.09M	82.31M	71.03M	98.48M
Equity & Ownership
Retained Earnings	21.18M	22.98M	21.18M	25.50M	21.72M
Total Equity	52.88M	54.91M	53.21M	57.03M	81.37M
Net Debt	143.07M	122.04M	58.61M	49.89M	60.75M
Shares Outstanding	299,733,000	299,868,000	300,000,000	300,000,000	600,000,000
Cash & Assets
Total Assets	228.05M	213.00M	135.52M	128.06M	179.86M
Total Current Assets	41.14M	49.30M	30.03M	29.89M	56.46M
Cash & Equivalents	7.96M	13.71M	4.11M	4.60M	6.18M
Cash & Short-Term Investments	7.96M	13.71M	4.11M	4.60M	6.30M
Net Cash (Debt)	-143.07M	-122.04M	-58.61M	-49.89M	-60.75M
Net Cash Per Share	-0.48	-0.41	-0.20	-0.10	-0.09
Cash Growth	-42.0%	+233.8%	-10.7%	-26.9%	-46.4%
Accounts Receivable	20.67M	21.52M	18.90M	10.49M	20.82M
Other Receivables	4.75M	4.99M	4.31M	12.13M	24.34M
Receivables	25.42M	26.51M	23.21M	22.62M	45.15M
Inventory	0.12M	0.10M	0.11M	0.19M	0.34M
Prepaid Expenses	1.66M	1.46M	1.70M	1.57M	1.53M
Construction In Progress	—	—	—	—	329.22K
Buildings	0.23M	0.16M	0.14M	0.20M	12.84M
Machinery	13.72M	12.21M	11.26M	6.73M	14.19M
Property, Plant & Equipment	84.13M	91.10M	38.71M	32.31M	48.63M
Other Intangible Assets	—	—	—	—	172.27K
Other Current Assets	5.97M	7.52M	0.90M	0.91M	2.91M
Other Long-Term Assets	102.63M	72.27M	66.44M	65.52M	73.16M
Long-Term Leases	69.92M	74.63M	19.55M	16.89M	22.22M
Current Portion of Leases	6.33M	5.18M	4.54M	3.38M	4.64M
Loans & Investments
Trading Asset Securities	—	—	—	—	115.19K
Long-Term Investments	0.15M	0.32M	0.33M	0.35M	1.44M
Liabilities & Obligations
Total Liabilities	175.17M	158.09M	82.31M	71.03M	98.48M
Total Liabilities & Equity	228.05M	213.00M	135.52M	128.06M	179.86M
Total Current Liabilities	37.97M	34.45M	29.01M	27.39M	43.56M
Accounts Payable	15.13M	14.94M	2.91M	2.33M	6.21M
Accrued Expenses	—	—	2.60M	8.10M	9.93M
Current Unearned Revenue	—	—	6.33M	—	—
Other Current Liabilities	0.19M	0.18M	2.58M	1.95M	11.10M
Pension & Post-Retirement Benefits	5.14M	5.52M	5.16M	4.17M	4.19M
Other Long-Term Liabilities	3.69M	1.70M	—	—	—
Debt & Funding
Long-Term Debt	58.45M	41.80M	28.59M	22.59M	28.51M
Total Debt	151.03M	135.75M	62.72M	54.49M	67.04M
Current Portion of Long-Term Debt	16.33M	14.14M	10.04M	11.63M	11.68M
Equity & Book Value
Shareholders' Equity	52.88M	54.91M	53.21M	57.03M	81.37M
Total Common Equity	51.16M	53.20M	51.28M	55.66M	80.65M
Common Stock	30.00M	30.00M	30.00M	30.00M	60.00M
Retained Earnings	21.18M	22.98M	21.18M	25.50M	21.72M
Treasury Stock	-105.15K	-53.39K	—	—	—
Comprehensive Income & Other	0.09M	0.28M	0.10M	0.16M	-1.07M
Minority Interest	1.72M	1.70M	1.93M	1.38M	0.73M
Book Value Per Share	0.17	0.18	0.17	0.19	0.13
Tangible Book Value	51.16M	53.20M	51.28M	55.66M	80.47M
Tangible Book Value Per Share	0.17	0.18	0.17	0.19	0.13
Filing Date Shares Outstanding	299.73M	299.87M	300.00M	300.00M	600.00M
Total Common Shares Outstanding	299.73M	299.87M	300.00M	300.00M	600.00M
Working Capital	3.17M	14.86M	1.03M	2.50M	12.90M

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
Assets
Cash & Equivalents	7.96M	13.71M	4.11M	4.60M	6.18M
Cash & Short-Term Investments	7.96M	13.71M	4.11M	4.60M	6.30M
Receivables	25.42M	26.51M	23.21M	22.62M	45.15M
Inventory	0.12M	0.10M	0.11M	0.19M	0.34M
Current Assets	41.14M	49.30M	30.03M	29.89M	56.46M
PP&E	84.13M	91.10M	38.71M	32.31M	48.63M
Intangible Assets	—	—	—	—	172.27K
Total Assets	228.05M	213.00M	135.52M	128.06M	179.86M
Liabilities
Accounts Payable	15.13M	14.94M	2.91M	2.33M	6.21M
Current Liabilities	37.97M	34.45M	29.01M	27.39M	43.56M
Long-Term Debt	58.45M	41.80M	28.59M	22.59M	28.51M
Total Debt	151.03M	135.75M	62.72M	54.49M	67.04M
Total Liabilities	175.17M	158.09M	82.31M	71.03M	98.48M
Equity & Ownership
Retained Earnings	21.18M	22.98M	21.18M	25.50M	21.72M
Total Equity	52.88M	54.91M	53.21M	57.03M	81.37M
Net Debt	143.07M	122.04M	58.61M	49.89M	60.75M
Shares Outstanding	299,733,000	299,868,000	300,000,000	300,000,000	600,000,000
Cash & Assets
Total Assets	228.05M	213.00M	135.52M	128.06M	179.86M
Total Current Assets	41.14M	49.30M	30.03M	29.89M	56.46M
Cash & Equivalents	7.96M	13.71M	4.11M	4.60M	6.18M
Cash & Short-Term Investments	7.96M	13.71M	4.11M	4.60M	6.30M
Net Cash (Debt)	-143.07M	-122.04M	-58.61M	-49.89M	-60.75M
Net Cash Per Share	-0.48	-0.41	-0.20	-0.10	-0.09
Cash Growth	-42.0%	+233.8%	-10.7%	-26.9%	-46.4%
Accounts Receivable	20.67M	21.52M	18.90M	10.49M	20.82M
Other Receivables	4.75M	4.99M	4.31M	12.13M	24.34M
Receivables	25.42M	26.51M	23.21M	22.62M	45.15M
Inventory	0.12M	0.10M	0.11M	0.19M	0.34M
Prepaid Expenses	1.66M	1.46M	1.70M	1.57M	1.53M
Construction In Progress	—	—	—	—	329.22K
Buildings	0.23M	0.16M	0.14M	0.20M	12.84M
Machinery	13.72M	12.21M	11.26M	6.73M	14.19M
Property, Plant & Equipment	84.13M	91.10M	38.71M	32.31M	48.63M
Other Intangible Assets	—	—	—	—	172.27K
Other Current Assets	5.97M	7.52M	0.90M	0.91M	2.91M
Other Long-Term Assets	102.63M	72.27M	66.44M	65.52M	73.16M
Long-Term Leases	69.92M	74.63M	19.55M	16.89M	22.22M
Current Portion of Leases	6.33M	5.18M	4.54M	3.38M	4.64M
Loans & Investments
Trading Asset Securities	—	—	—	—	115.19K
Long-Term Investments	0.15M	0.32M	0.33M	0.35M	1.44M
Liabilities & Obligations
Total Liabilities	175.17M	158.09M	82.31M	71.03M	98.48M
Total Liabilities & Equity	228.05M	213.00M	135.52M	128.06M	179.86M
Total Current Liabilities	37.97M	34.45M	29.01M	27.39M	43.56M
Accounts Payable	15.13M	14.94M	2.91M	2.33M	6.21M
Accrued Expenses	—	—	2.60M	8.10M	9.93M
Current Unearned Revenue	—	—	6.33M	—	—
Other Current Liabilities	0.19M	0.18M	2.58M	1.95M	11.10M
Pension & Post-Retirement Benefits	5.14M	5.52M	5.16M	4.17M	4.19M
Other Long-Term Liabilities	3.69M	1.70M	—	—	—
Debt & Funding
Long-Term Debt	58.45M	41.80M	28.59M	22.59M	28.51M
Total Debt	151.03M	135.75M	62.72M	54.49M	67.04M
Current Portion of Long-Term Debt	16.33M	14.14M	10.04M	11.63M	11.68M
Equity & Book Value
Shareholders' Equity	52.88M	54.91M	53.21M	57.03M	81.37M
Total Common Equity	51.16M	53.20M	51.28M	55.66M	80.65M
Common Stock	30.00M	30.00M	30.00M	30.00M	60.00M
Retained Earnings	21.18M	22.98M	21.18M	25.50M	21.72M
Treasury Stock	-105.15K	-53.39K	—	—	—
Comprehensive Income & Other	0.09M	0.28M	0.10M	0.16M	-1.07M
Minority Interest	1.72M	1.70M	1.93M	1.38M	0.73M
Book Value Per Share	0.17	0.18	0.17	0.19	0.13
Tangible Book Value	51.16M	53.20M	51.28M	55.66M	80.47M
Tangible Book Value Per Share	0.17	0.18	0.17	0.19	0.13
Filing Date Shares Outstanding	299.73M	299.87M	300.00M	300.00M	600.00M
Total Common Shares Outstanding	299.73M	299.87M	300.00M	300.00M	600.00M
Working Capital	3.17M	14.86M	1.03M	2.50M	12.90M

Financials

Annual (KWD)

BEYOUT

Annual (KWD)