NATIONAL CLEANING CO.

National Cleaning Company

CLEANINGStocksBoursa KuwaitIndustrials

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
Operations
Operating Cash Flow	6.53M	4.17M	11.06M	9.70M	5.50M
Free Cash Flow	5.27M	2.61M	7.87M	6.04M	-2.79M
Capital Expenditures	-1.27M	-1.56M	-3.19M	-3.66M	-8.29M
Investing & Financing
Investing Cash Flow	5.65M	7.00M	1.44M	-3.49M	-7.49M
Financing Cash Flow	-11.78M	-7.19M	-11.07M	-5.67M	-1.59M
Share Repurchase	-805.24K	—	—	-0.01K	—
Operating Activities
Operating Cash Flow	6.53M	4.17M	11.06M	9.70M	5.50M
Net Income	2.69M	1.12M	0.45M	-3.36M	-2.18M
Change in Accounts Payable	3.32M	-4.30M	1.67M	4.34M	1.41M
Change in Accounts Receivable	-3.62M	-0.28M	0.15M	-1.67M	-1.14M
Change in Inventory	-24.30K	105.56K	554.91K	355.24K	190.08K
Change in Other Net Operating Assets	-542.65K	695.67K	51.81K	81.50K	0.24K
Change in Working Capital	-0.87M	-3.78M	2.42M	3.10M	0.46M
Other Operating Activities	1.27M	-0.22M	2.40M	2.70M	2.04M
Provision & Write-off of Bad Debts	0.74M	2.39M	0.40M	0.60M	-0.86M
Depreciation & Amortization	5.20M	6.09M	6.82M	6.91M	6.61M
Cash Interest Paid	2.15M	2.40M	2.49M	2.55M	2.27M
Miscellaneous Cash Flow Adjustments	-0.02M	—	0.27M	2.12M	—
Asset Writedown & Restructuring Costs	-678.61K	88.00K	—	—	50.00K
Investing Activities
Investing Cash Flow	5.65M	7.00M	1.44M	-3.49M	-7.49M
Capital Expenditures	-1.27M	-1.56M	-3.19M	-3.66M	-8.29M
Cash Acquisitions	—	—	-262.42K	-127.10K	—
Investment in Securities	-0.62M	-0.34M	-0.02M	-0.04M	0.02M
Other Investing Activities	22.31K	69.95K	49.56K	16.83K	10.98K
Sale of Property, Plant & Equipment	7.52M	8.83M	4.86M	0.31M	0.77M
Loss (Gain) From Sale of Assets	-1.82M	-1.53M	-1.45M	-0.26M	-0.65M
Loss (Gain) on Sale of Investments	0.56K	22.39K	4.37K	—	9.55K
Financing Activities
Financing Cash Flow	-11.78M	-7.19M	-11.07M	-5.67M	-1.59M
Issuance of Common Stock	929.71K	—	—	—	—
Repurchase of Common Stock	-805.24K	—	—	-0.01K	—
Long-Term Debt Issued	—	—	—	—	728.66K
Long-Term Debt Repaid	-9.75M	-5.11M	-8.58M	-3.11M	-0.04M
Net Debt Issued (Repaid)	-9.75M	-5.11M	-8.58M	-3.11M	0.68M
Other Financing Activities	-2.15M	-2.08M	-2.49M	-2.55M	-2.27M
Free Cash Flow & Returns
Free Cash Flow	5.27M	2.61M	7.87M	6.04M	-2.79M
Free Cash Flow Growth	+101.7%	-66.8%	+30.3%	—	—
Free Cash Flow Margin	+13.5%	+7.0%	+22.8%	+17.3%	-8.0%
Free Cash Flow Per Share	0.02	0.01	0.03	0.03	-0.01
Levered Free Cash Flow	1.75M	0.25M	5.80M	9.06M	-4.67M
Unlevered Free Cash Flow	2.04M	0.56M	6.19M	9.47M	-4.32M
Operating Cash Flow Growth	+56.6%	-62.3%	+14.1%	+76.4%	-15.5%
Net Cash Flow	0.46M	3.86M	1.72M	2.57M	-3.59M
Foreign Exchange Rate Adjustments	69.88K	-119.33K	14.21K	-79.47K	-14.42K

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
Operations
Operating Cash Flow	6.53M	4.17M	11.06M	9.70M	5.50M
Free Cash Flow	5.27M	2.61M	7.87M	6.04M	-2.79M
Capital Expenditures	-1.27M	-1.56M	-3.19M	-3.66M	-8.29M
Investing & Financing
Investing Cash Flow	5.65M	7.00M	1.44M	-3.49M	-7.49M
Financing Cash Flow	-11.78M	-7.19M	-11.07M	-5.67M	-1.59M
Share Repurchase	-805.24K	—	—	-0.01K	—
Operating Activities
Operating Cash Flow	6.53M	4.17M	11.06M	9.70M	5.50M
Net Income	2.69M	1.12M	0.45M	-3.36M	-2.18M
Change in Accounts Payable	3.32M	-4.30M	1.67M	4.34M	1.41M
Change in Accounts Receivable	-3.62M	-0.28M	0.15M	-1.67M	-1.14M
Change in Inventory	-24.30K	105.56K	554.91K	355.24K	190.08K
Change in Other Net Operating Assets	-542.65K	695.67K	51.81K	81.50K	0.24K
Change in Working Capital	-0.87M	-3.78M	2.42M	3.10M	0.46M
Other Operating Activities	1.27M	-0.22M	2.40M	2.70M	2.04M
Provision & Write-off of Bad Debts	0.74M	2.39M	0.40M	0.60M	-0.86M
Depreciation & Amortization	5.20M	6.09M	6.82M	6.91M	6.61M
Cash Interest Paid	2.15M	2.40M	2.49M	2.55M	2.27M
Miscellaneous Cash Flow Adjustments	-0.02M	—	0.27M	2.12M	—
Asset Writedown & Restructuring Costs	-678.61K	88.00K	—	—	50.00K
Investing Activities
Investing Cash Flow	5.65M	7.00M	1.44M	-3.49M	-7.49M
Capital Expenditures	-1.27M	-1.56M	-3.19M	-3.66M	-8.29M
Cash Acquisitions	—	—	-262.42K	-127.10K	—
Investment in Securities	-0.62M	-0.34M	-0.02M	-0.04M	0.02M
Other Investing Activities	22.31K	69.95K	49.56K	16.83K	10.98K
Sale of Property, Plant & Equipment	7.52M	8.83M	4.86M	0.31M	0.77M
Loss (Gain) From Sale of Assets	-1.82M	-1.53M	-1.45M	-0.26M	-0.65M
Loss (Gain) on Sale of Investments	0.56K	22.39K	4.37K	—	9.55K
Financing Activities
Financing Cash Flow	-11.78M	-7.19M	-11.07M	-5.67M	-1.59M
Issuance of Common Stock	929.71K	—	—	—	—
Repurchase of Common Stock	-805.24K	—	—	-0.01K	—
Long-Term Debt Issued	—	—	—	—	728.66K
Long-Term Debt Repaid	-9.75M	-5.11M	-8.58M	-3.11M	-0.04M
Net Debt Issued (Repaid)	-9.75M	-5.11M	-8.58M	-3.11M	0.68M
Other Financing Activities	-2.15M	-2.08M	-2.49M	-2.55M	-2.27M
Free Cash Flow & Returns
Free Cash Flow	5.27M	2.61M	7.87M	6.04M	-2.79M
Free Cash Flow Growth	+101.7%	-66.8%	+30.3%	—	—
Free Cash Flow Margin	+13.5%	+7.0%	+22.8%	+17.3%	-8.0%
Free Cash Flow Per Share	0.02	0.01	0.03	0.03	-0.01
Levered Free Cash Flow	1.75M	0.25M	5.80M	9.06M	-4.67M
Unlevered Free Cash Flow	2.04M	0.56M	6.19M	9.47M	-4.32M
Operating Cash Flow Growth	+56.6%	-62.3%	+14.1%	+76.4%	-15.5%
Net Cash Flow	0.46M	3.86M	1.72M	2.57M	-3.59M
Foreign Exchange Rate Adjustments	69.88K	-119.33K	14.21K	-79.47K	-14.42K