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
Operating Summary
Revenue	38.88M	37.06M	34.54M	34.90M	34.77M
Cost of Revenue	34.33M	33.73M	31.34M	34.59M	35.67M
Gross Profit	4.56M	3.33M	3.20M	0.30M	-0.90M
SG&A	2.96M	2.92M	3.23M	2.81M	2.74M
Operating Expenses	3.89M	5.51M	3.80M	3.90M	2.86M
Operating Income	0.67M	-2.17M	-0.60M	-3.59M	-3.76M
Interest Income	22.31K	69.95K	49.56K	16.83K	10.98K
Interest Expense	-469.69K	-505.53K	-619.65K	-653.69K	-568.44K
Other Income/Expense	0.29M	1.86M	0.10M	0.41M	1.51M
Pretax Income	2.70M	0.83M	0.37M	-3.49M	-2.16M
Income Tax	29.32K	12.39K	—	—	—
Net Income	2.69M	1.12M	0.45M	-3.36M	-2.18M
EBITDA	5.87M	3.92M	6.21M	3.28M	2.77M
EBIT	0.67M	-2.17M	-0.60M	-3.59M	-3.76M
EPS (Basic)	0.01	0.00	0.00	-0.01	-0.01
EPS (Diluted)	0.01	0.00	0.00	-0.01	-0.01
DPS	0.00	—	—	—	—
Margins & Efficiency
Gross Margin %	+11.7%	+9.0%	+9.3%	+0.9%	-2.6%
EBITDA Margin %	+15.1%	+10.6%	+18.0%	+9.4%	+8.0%
Net Margin %	+6.9%	+3.0%	+1.3%	-9.6%	-6.3%
Revenue & Income
Revenue	38.88M	37.06M	34.54M	34.90M	34.77M
Revenue Growth (YoY)	+4.9%	+7.3%	-1.0%	+0.4%	-3.2%
Interest & Investment Income	22.31K	69.95K	49.56K	16.83K	10.98K
Gain (Loss) on Sale of Assets	1.69M	1.60M	1.45M	0.25M	0.65M
Gain (Loss) on Sale of Investments	-0.56K	53.02K	-4.37K	—	-9.55K
Currency Exchange Gain (Loss)	-184.96K	—	—	—	—
Expenses & Provisions
Cost of Revenue	34.33M	33.73M	31.34M	34.59M	35.67M
Selling, General & Admin	2.96M	2.92M	3.23M	2.81M	2.74M
Operating Expenses	3.89M	5.51M	3.80M	3.90M	2.86M
Other Operating Expenses	73.31K	78.04K	—	—	—
Interest Expense	-469.69K	-505.53K	-619.65K	-653.69K	-568.44K
Other Non Operating Income (Expenses)	0.29M	1.86M	0.10M	0.41M	1.51M
Asset Writedown	751.00K	—	—	—	—
Impairment of Goodwill	-72.40K	-88.00K	—	—	-50.00K
D&A For EBITDA	5.20M	6.09M	6.81M	6.88M	6.53M
Profitability & Returns
Gross Profit	4.56M	3.33M	3.20M	0.30M	-0.90M
Gross Margin	+11.7%	+9.0%	+9.3%	+0.9%	-2.6%
EBIT	0.67M	-2.17M	-0.60M	-3.59M	-3.76M
EBIT Margin	+1.7%	-5.9%	-1.7%	-10.3%	-10.8%
EBITDA	5.87M	3.92M	6.21M	3.28M	2.77M
EBITDA Margin	+15.1%	+10.6%	+18.0%	+9.4%	+8.0%
EBT Excluding Unusual Items	0.33M	-0.74M	-1.07M	-3.82M	-2.80M
Pretax Income	2.70M	0.83M	0.37M	-3.49M	-2.16M
Operating Income	0.67M	-2.17M	-0.60M	-3.59M	-3.76M
Operating Margin	+1.7%	-5.9%	-1.7%	-10.3%	-10.8%
Profit Margin	+6.9%	+3.0%	+1.3%	-9.6%	-6.3%
Net Income	2.69M	1.12M	0.45M	-3.36M	-2.18M
Net Income to Common	2.69M	1.12M	0.45M	-3.36M	-2.18M
Net Income Growth	+140.8%	+146.1%	—	—	—
Earnings From Continuing Ops.	2.67M	0.81M	0.37M	-3.49M	-2.16M
Minority Interest in Earnings	20.69K	305.84K	81.67K	127.96K	-10.10K
Income Tax Expense	29.32K	12.39K	—	—	—
Effective Tax Rate	+1.1%	+1.5%	—	—	—
Per Share & Capital
EPS (Basic)	0.01	0.00	0.00	-0.01	-0.01
EPS (Diluted)	0.01	0.00	0.00	-0.01	-0.01
EPS Growth	+129.3%	+146.2%	—	—	—
Dividend Per Share	0.00	—	—	—	—
Shares Change (YoY)	0.05	—	—	0	—
Shares Outstanding (Basic)	242.96M	231.37M	231.37M	231.37M	231.37M
Shares Outstanding (Diluted)	242.96M	231.37M	231.37M	231.37M	231.37M
Free Cash Flow	5.27M	2.61M	7.87M	6.04M	-2.79M
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
Supplemental
Other Unusual Items	—	—	—	82.71K	43.97K

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	38.88M	37.06M	34.54M	34.90M	34.77M
Cost of Revenue	34.33M	33.73M	31.34M	34.59M	35.67M
Gross Profit	4.56M	3.33M	3.20M	0.30M	-0.90M
SG&A	2.96M	2.92M	3.23M	2.81M	2.74M
Operating Expenses	3.89M	5.51M	3.80M	3.90M	2.86M
Operating Income	0.67M	-2.17M	-0.60M	-3.59M	-3.76M
Interest Income	22.31K	69.95K	49.56K	16.83K	10.98K
Interest Expense	-469.69K	-505.53K	-619.65K	-653.69K	-568.44K
Other Income/Expense	0.29M	1.86M	0.10M	0.41M	1.51M
Pretax Income	2.70M	0.83M	0.37M	-3.49M	-2.16M
Income Tax	29.32K	12.39K	—	—	—
Net Income	2.69M	1.12M	0.45M	-3.36M	-2.18M
EBITDA	5.87M	3.92M	6.21M	3.28M	2.77M
EBIT	0.67M	-2.17M	-0.60M	-3.59M	-3.76M
EPS (Basic)	0.01	0.00	0.00	-0.01	-0.01
EPS (Diluted)	0.01	0.00	0.00	-0.01	-0.01
DPS	0.00	—	—	—	—
Margins & Efficiency
Gross Margin %	+11.7%	+9.0%	+9.3%	+0.9%	-2.6%
EBITDA Margin %	+15.1%	+10.6%	+18.0%	+9.4%	+8.0%
Net Margin %	+6.9%	+3.0%	+1.3%	-9.6%	-6.3%
Revenue & Income
Revenue	38.88M	37.06M	34.54M	34.90M	34.77M
Revenue Growth (YoY)	+4.9%	+7.3%	-1.0%	+0.4%	-3.2%
Interest & Investment Income	22.31K	69.95K	49.56K	16.83K	10.98K
Gain (Loss) on Sale of Assets	1.69M	1.60M	1.45M	0.25M	0.65M
Gain (Loss) on Sale of Investments	-0.56K	53.02K	-4.37K	—	-9.55K
Currency Exchange Gain (Loss)	-184.96K	—	—	—	—
Expenses & Provisions
Cost of Revenue	34.33M	33.73M	31.34M	34.59M	35.67M
Selling, General & Admin	2.96M	2.92M	3.23M	2.81M	2.74M
Operating Expenses	3.89M	5.51M	3.80M	3.90M	2.86M
Other Operating Expenses	73.31K	78.04K	—	—	—
Interest Expense	-469.69K	-505.53K	-619.65K	-653.69K	-568.44K
Other Non Operating Income (Expenses)	0.29M	1.86M	0.10M	0.41M	1.51M
Asset Writedown	751.00K	—	—	—	—
Impairment of Goodwill	-72.40K	-88.00K	—	—	-50.00K
D&A For EBITDA	5.20M	6.09M	6.81M	6.88M	6.53M
Profitability & Returns
Gross Profit	4.56M	3.33M	3.20M	0.30M	-0.90M
Gross Margin	+11.7%	+9.0%	+9.3%	+0.9%	-2.6%
EBIT	0.67M	-2.17M	-0.60M	-3.59M	-3.76M
EBIT Margin	+1.7%	-5.9%	-1.7%	-10.3%	-10.8%
EBITDA	5.87M	3.92M	6.21M	3.28M	2.77M
EBITDA Margin	+15.1%	+10.6%	+18.0%	+9.4%	+8.0%
EBT Excluding Unusual Items	0.33M	-0.74M	-1.07M	-3.82M	-2.80M
Pretax Income	2.70M	0.83M	0.37M	-3.49M	-2.16M
Operating Income	0.67M	-2.17M	-0.60M	-3.59M	-3.76M
Operating Margin	+1.7%	-5.9%	-1.7%	-10.3%	-10.8%
Profit Margin	+6.9%	+3.0%	+1.3%	-9.6%	-6.3%
Net Income	2.69M	1.12M	0.45M	-3.36M	-2.18M
Net Income to Common	2.69M	1.12M	0.45M	-3.36M	-2.18M
Net Income Growth	+140.8%	+146.1%	—	—	—
Earnings From Continuing Ops.	2.67M	0.81M	0.37M	-3.49M	-2.16M
Minority Interest in Earnings	20.69K	305.84K	81.67K	127.96K	-10.10K
Income Tax Expense	29.32K	12.39K	—	—	—
Effective Tax Rate	+1.1%	+1.5%	—	—	—
Per Share & Capital
EPS (Basic)	0.01	0.00	0.00	-0.01	-0.01
EPS (Diluted)	0.01	0.00	0.00	-0.01	-0.01
EPS Growth	+129.3%	+146.2%	—	—	—
Dividend Per Share	0.00	—	—	—	—
Shares Change (YoY)	0.05	—	—	0	—
Shares Outstanding (Basic)	242.96M	231.37M	231.37M	231.37M	231.37M
Shares Outstanding (Diluted)	242.96M	231.37M	231.37M	231.37M	231.37M
Free Cash Flow	5.27M	2.61M	7.87M	6.04M	-2.79M
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
Supplemental
Other Unusual Items	—	—	—	82.71K	43.97K

Financials

Annual (KWD)

NATIONAL CLEANING CO.

Annual (KWD)