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	38.01M	37.80M	44.18M	40.64M	44.01M
Cost of Revenue	13.44M	10.53M	15.83M	23.97M	26.76M
Gross Profit	24.57M	27.27M	28.35M	16.67M	17.25M
SG&A	3.99M	3.40M	4.88M	4.94M	4.29M
Operating Expenses	9.44M	8.33M	19.01M	15.06M	15.21M
Operating Income	15.14M	18.93M	9.34M	1.61M	2.04M
Interest Expense	-1.94M	-2.35M	-5.50M	-4.45M	-5.75M
Other Income/Expense	—	—	—	—	-0.15M
Pretax Income	13.18M	18.52M	17.04M	4.23M	-1.64M
Income Tax	1.07M	1.13M	0.90M	0.25M	0.27M
Net Income	18.62M	13.34M	13.91M	2.90M	2.73M
EBITDA	16.10M	22.35M	12.23M	4.28M	5.69M
EBIT	15.14M	18.93M	9.34M	1.61M	2.04M
EPS (Basic)	0.06	0.05	0.05	0.01	0.01
EPS (Diluted)	0.06	0.05	0.05	0.01	0.01
Margins & Efficiency
Gross Margin %	+64.6%	+72.1%	+64.2%	+41.0%	+39.2%
EBITDA Margin %	+42.4%	+59.1%	+27.7%	+10.5%	+12.9%
Net Margin %	+49.0%	+35.3%	+31.5%	+7.1%	+6.2%
Revenue & Income
Revenue	38.01M	37.80M	44.18M	40.64M	44.01M
Revenue Growth (YoY)	+0.6%	-14.5%	+8.7%	-7.7%	+103.1%
Operating Revenue	24.39M	18.16M	35.38M	40.01M	42.19M
Other Revenue	13.62M	19.64M	8.80M	0.63M	1.82M
Gain (Loss) on Sale of Assets	—	2.03M	13.61M	6.71M	1.03M
Currency Exchange Gain (Loss)	—	—	—	—	—
Expenses & Provisions
Cost of Revenue	13.44M	10.53M	15.83M	23.97M	26.76M
Selling, General & Admin	3.99M	3.40M	4.88M	4.94M	4.29M
Operating Expenses	9.44M	8.33M	19.01M	15.06M	15.21M
Other Operating Expenses	6.00M	4.02M	11.24M	7.44M	7.27M
Interest Expense	-1.94M	-2.35M	-5.50M	-4.45M	-5.75M
Other Non Operating Income (Expenses)	—	—	—	—	-0.15M
Asset Writedown	-0.02M	-0.09M	-0.41M	0.36M	1.17M
D&A For EBITDA	0.97M	3.41M	2.89M	2.67M	3.65M
Profitability & Returns
Gross Profit	24.57M	27.27M	28.35M	16.67M	17.25M
Gross Margin	+64.6%	+72.1%	+64.2%	+41.0%	+39.2%
EBIT	15.14M	18.93M	9.34M	1.61M	2.04M
EBIT Margin	+39.8%	+50.1%	+21.1%	+4.0%	+4.6%
EBITDA	16.10M	22.35M	12.23M	4.28M	5.69M
EBITDA Margin	+42.4%	+59.1%	+27.7%	+10.5%	+12.9%
EBT Excluding Unusual Items	13.20M	16.58M	3.84M	-2.85M	-3.85M
Pretax Income	13.18M	18.52M	17.04M	4.23M	-1.64M
Operating Income	15.14M	18.93M	9.34M	1.61M	2.04M
Operating Margin	+39.8%	+50.1%	+21.1%	+4.0%	+4.6%
Profit Margin	+49.0%	+35.3%	+31.5%	+7.1%	+6.2%
Net Income	18.62M	13.34M	13.91M	2.90M	2.73M
Net Income to Common	18.62M	13.34M	13.91M	2.90M	2.73M
Net Income to Company	21.87M	16.75M	16.14M	3.97M	2.32M
Net Income Growth	+39.6%	-4.2%	+380.5%	+6.0%	—
Earnings From Continuing Ops.	12.11M	17.38M	16.14M	3.97M	-1.91M
Earnings From Discontinued Ops.	9.76M	-0.63M	—	—	4.23M
Minority Interest in Earnings	-3.25M	-3.41M	-2.23M	-1.08M	0.41M
Income Tax Expense	1.07M	1.13M	0.90M	0.25M	0.27M
Effective Tax Rate	+8.1%	+6.1%	+5.3%	+6.0%	—
Per Share & Capital
EPS (Basic)	0.06	0.05	0.05	0.01	0.01
EPS (Diluted)	0.06	0.05	0.05	0.01	0.01
EPS Growth	+39.6%	-4.2%	+380.5%	+6.0%	—
Shares Change (YoY)	—	0	0	0	—
Shares Outstanding (Basic)	291.03M	291.03M	291.03M	291.03M	291.03M
Shares Outstanding (Diluted)	291.03M	291.03M	291.03M	291.03M	291.03M
Free Cash Flow	7.44M	3.75M	8.36M	19.00M	39.35M
Free Cash Flow Margin	+19.6%	+9.9%	+18.9%	+46.8%	+89.4%
Free Cash Flow Per Share	0.03	0.01	0.03	0.07	0.14
Supplemental
Other Unusual Items	—	—	—	—	—

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	38.01M	37.80M	44.18M	40.64M	44.01M
Cost of Revenue	13.44M	10.53M	15.83M	23.97M	26.76M
Gross Profit	24.57M	27.27M	28.35M	16.67M	17.25M
SG&A	3.99M	3.40M	4.88M	4.94M	4.29M
Operating Expenses	9.44M	8.33M	19.01M	15.06M	15.21M
Operating Income	15.14M	18.93M	9.34M	1.61M	2.04M
Interest Expense	-1.94M	-2.35M	-5.50M	-4.45M	-5.75M
Other Income/Expense	—	—	—	—	-0.15M
Pretax Income	13.18M	18.52M	17.04M	4.23M	-1.64M
Income Tax	1.07M	1.13M	0.90M	0.25M	0.27M
Net Income	18.62M	13.34M	13.91M	2.90M	2.73M
EBITDA	16.10M	22.35M	12.23M	4.28M	5.69M
EBIT	15.14M	18.93M	9.34M	1.61M	2.04M
EPS (Basic)	0.06	0.05	0.05	0.01	0.01
EPS (Diluted)	0.06	0.05	0.05	0.01	0.01
Margins & Efficiency
Gross Margin %	+64.6%	+72.1%	+64.2%	+41.0%	+39.2%
EBITDA Margin %	+42.4%	+59.1%	+27.7%	+10.5%	+12.9%
Net Margin %	+49.0%	+35.3%	+31.5%	+7.1%	+6.2%
Revenue & Income
Revenue	38.01M	37.80M	44.18M	40.64M	44.01M
Revenue Growth (YoY)	+0.6%	-14.5%	+8.7%	-7.7%	+103.1%
Operating Revenue	24.39M	18.16M	35.38M	40.01M	42.19M
Other Revenue	13.62M	19.64M	8.80M	0.63M	1.82M
Gain (Loss) on Sale of Assets	—	2.03M	13.61M	6.71M	1.03M
Currency Exchange Gain (Loss)	—	—	—	—	—
Expenses & Provisions
Cost of Revenue	13.44M	10.53M	15.83M	23.97M	26.76M
Selling, General & Admin	3.99M	3.40M	4.88M	4.94M	4.29M
Operating Expenses	9.44M	8.33M	19.01M	15.06M	15.21M
Other Operating Expenses	6.00M	4.02M	11.24M	7.44M	7.27M
Interest Expense	-1.94M	-2.35M	-5.50M	-4.45M	-5.75M
Other Non Operating Income (Expenses)	—	—	—	—	-0.15M
Asset Writedown	-0.02M	-0.09M	-0.41M	0.36M	1.17M
D&A For EBITDA	0.97M	3.41M	2.89M	2.67M	3.65M
Profitability & Returns
Gross Profit	24.57M	27.27M	28.35M	16.67M	17.25M
Gross Margin	+64.6%	+72.1%	+64.2%	+41.0%	+39.2%
EBIT	15.14M	18.93M	9.34M	1.61M	2.04M
EBIT Margin	+39.8%	+50.1%	+21.1%	+4.0%	+4.6%
EBITDA	16.10M	22.35M	12.23M	4.28M	5.69M
EBITDA Margin	+42.4%	+59.1%	+27.7%	+10.5%	+12.9%
EBT Excluding Unusual Items	13.20M	16.58M	3.84M	-2.85M	-3.85M
Pretax Income	13.18M	18.52M	17.04M	4.23M	-1.64M
Operating Income	15.14M	18.93M	9.34M	1.61M	2.04M
Operating Margin	+39.8%	+50.1%	+21.1%	+4.0%	+4.6%
Profit Margin	+49.0%	+35.3%	+31.5%	+7.1%	+6.2%
Net Income	18.62M	13.34M	13.91M	2.90M	2.73M
Net Income to Common	18.62M	13.34M	13.91M	2.90M	2.73M
Net Income to Company	21.87M	16.75M	16.14M	3.97M	2.32M
Net Income Growth	+39.6%	-4.2%	+380.5%	+6.0%	—
Earnings From Continuing Ops.	12.11M	17.38M	16.14M	3.97M	-1.91M
Earnings From Discontinued Ops.	9.76M	-0.63M	—	—	4.23M
Minority Interest in Earnings	-3.25M	-3.41M	-2.23M	-1.08M	0.41M
Income Tax Expense	1.07M	1.13M	0.90M	0.25M	0.27M
Effective Tax Rate	+8.1%	+6.1%	+5.3%	+6.0%	—
Per Share & Capital
EPS (Basic)	0.06	0.05	0.05	0.01	0.01
EPS (Diluted)	0.06	0.05	0.05	0.01	0.01
EPS Growth	+39.6%	-4.2%	+380.5%	+6.0%	—
Shares Change (YoY)	—	0	0	0	—
Shares Outstanding (Basic)	291.03M	291.03M	291.03M	291.03M	291.03M
Shares Outstanding (Diluted)	291.03M	291.03M	291.03M	291.03M	291.03M
Free Cash Flow	7.44M	3.75M	8.36M	19.00M	39.35M
Free Cash Flow Margin	+19.6%	+9.9%	+18.9%	+46.8%	+89.4%
Free Cash Flow Per Share	0.03	0.01	0.03	0.07	0.14
Supplemental
Other Unusual Items	—	—	—	—	—

Financials

Annual (KWD)

IFA HOTELS & RESORTS CO.

Annual (KWD)