AL-MADAR FINANCE AND INVESTMENT CO.

Al Madar Kuwait Holding Co.

MADARStocksBoursa KuwaitReal Estate

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
Operating Summary
Revenue	0.68M	0.86M	0.66M	0.91M	1.11M
Interest Expense	-57.92K	-52.19K	-52.51K	-41.56K	-24.46K
Pretax Income	95.46K	41.20K	35.35K	51.98K	91.47K
Income Tax	1.74K	0.37K	0.05K	0.83K	—
Net Income	72.06K	150.96K	8.11K	16.77K	2.50K
Rental Revenue	476.33K	538.94K	570.66K	673.68K	684.09K
Property Expenses	8.12K	9.18K	19.21K	22.29K	150.13K
Operating Income	81.41K	160.38K	30.17K	94.02K	315.99K
EPS (Basic)	0.00	0.00	0.00	0.00	0.00
EPS (Diluted)	0.00	0.00	0.00	0.00	0.00
Margins & Efficiency
Net Margin %	+10.5%	+17.6%	+1.2%	+1.8%	+0.2%
Revenue & Income
Revenue Growth (YoY)	-20.2%	+29.7%	-27.1%	-18.6%	-18.0%
Revenue RE	0.68M	0.86M	0.66M	0.91M	1.11M
Rental Revenue	476.33K	538.94K	570.66K	673.68K	684.09K
Other Revenue RE	104.73K	11.96K	108.18K	228.89K	354.31K
Gain Investments Rev Real Estate	84.23K	283.43K	-35.03K	4.96K	74.66K
Currency Exchange Gain (Loss)	-21.91K	12.34K	—	—	-199.22K
Expenses & Provisions
SG&A RE	601.60K	690.22K	623.83K	797.39K	707.57K
Total Operating Expenses RE	0.60M	0.70M	0.63M	0.81M	0.80M
Interest Expense RE	-57.92K	-52.19K	-52.51K	-41.56K	-24.46K
Other Non Oper Exp Suppl RE	—	—	-321	-472	-831
Property Expenses	8.12K	9.18K	19.21K	22.29K	150.13K
Legal Settlements RE	—	300.00K	—	—	—
Asset Writedown	93.88K	-379.33K	58.00K	—	—
D&A For EBITDA	—	—	4.00K	4.00K	2.57K
Profitability & Returns
EBIT	81.41K	160.38K	30.17K	94.02K	315.99K
EBIT Margin	+11.9%	+18.7%	+4.6%	+10.4%	+28.3%
EBITDA	—	—	34.17K	98.02K	318.56K
EBITDA Margin	—	—	+5.2%	+10.8%	+28.6%
EBT Excl RE	1.58K	120.52K	-22.66K	51.98K	91.47K
Pretax Income	95.46K	41.20K	35.35K	51.98K	91.47K
Operating Income RE	81.41K	160.38K	30.17K	94.02K	315.99K
Operating Margin	+11.9%	+18.7%	+4.6%	+10.4%	+28.3%
Profit Margin	+10.5%	+17.6%	+1.2%	+1.8%	+0.2%
Net Income	72.06K	150.96K	8.11K	16.77K	2.50K
Net Income to Common	72.06K	150.96K	8.11K	16.77K	2.50K
Net Income to Company	93.72K	40.82K	35.30K	51.16K	91.47K
Net Income Growth	-52.3%	+1,762.3%	-51.7%	+572.0%	-66.1%
Earnings From Continuing Ops.	93.72K	40.82K	35.30K	51.16K	91.47K
Minority Interest in Earnings	-21.66K	110.14K	-27.19K	-34.39K	-88.98K
Income Tax Expense	1.74K	0.37K	0.05K	0.83K	—
Effective Tax Rate	+1.8%	+0.9%	+0.1%	+1.6%	—
Net Interest Expense RE	-57.92K	-52.19K	-52.51K	-41.56K	-24.46K
Per Share & Capital
EPS (Basic)	0.00	0.00	0.00	0.00	0.00
EPS (Diluted)	0.00	0.00	0.00	0.00	0.00
EPS Growth	-52.3%	+1,771.8%	-51.3%	+566.7%	-65.7%
Shares Change (YoY)	—	—	-0	—	—
Shares Outstanding (Basic)	206.58M	206.58M	206.58M	207.02M	207.02M
Shares Outstanding (Diluted)	206.58M	206.58M	206.58M	207.02M	207.02M
Payout Ratio	—	—	—	—	—
Supplemental
Property Management Fees	—	—	—	—	1.77K

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	0.68M	0.86M	0.66M	0.91M	1.11M
Interest Expense	-57.92K	-52.19K	-52.51K	-41.56K	-24.46K
Pretax Income	95.46K	41.20K	35.35K	51.98K	91.47K
Income Tax	1.74K	0.37K	0.05K	0.83K	—
Net Income	72.06K	150.96K	8.11K	16.77K	2.50K
Rental Revenue	476.33K	538.94K	570.66K	673.68K	684.09K
Property Expenses	8.12K	9.18K	19.21K	22.29K	150.13K
Operating Income	81.41K	160.38K	30.17K	94.02K	315.99K
EPS (Basic)	0.00	0.00	0.00	0.00	0.00
EPS (Diluted)	0.00	0.00	0.00	0.00	0.00
Margins & Efficiency
Net Margin %	+10.5%	+17.6%	+1.2%	+1.8%	+0.2%
Revenue & Income
Revenue Growth (YoY)	-20.2%	+29.7%	-27.1%	-18.6%	-18.0%
Revenue RE	0.68M	0.86M	0.66M	0.91M	1.11M
Rental Revenue	476.33K	538.94K	570.66K	673.68K	684.09K
Other Revenue RE	104.73K	11.96K	108.18K	228.89K	354.31K
Gain Investments Rev Real Estate	84.23K	283.43K	-35.03K	4.96K	74.66K
Currency Exchange Gain (Loss)	-21.91K	12.34K	—	—	-199.22K
Expenses & Provisions
SG&A RE	601.60K	690.22K	623.83K	797.39K	707.57K
Total Operating Expenses RE	0.60M	0.70M	0.63M	0.81M	0.80M
Interest Expense RE	-57.92K	-52.19K	-52.51K	-41.56K	-24.46K
Other Non Oper Exp Suppl RE	—	—	-321	-472	-831
Property Expenses	8.12K	9.18K	19.21K	22.29K	150.13K
Legal Settlements RE	—	300.00K	—	—	—
Asset Writedown	93.88K	-379.33K	58.00K	—	—
D&A For EBITDA	—	—	4.00K	4.00K	2.57K
Profitability & Returns
EBIT	81.41K	160.38K	30.17K	94.02K	315.99K
EBIT Margin	+11.9%	+18.7%	+4.6%	+10.4%	+28.3%
EBITDA	—	—	34.17K	98.02K	318.56K
EBITDA Margin	—	—	+5.2%	+10.8%	+28.6%
EBT Excl RE	1.58K	120.52K	-22.66K	51.98K	91.47K
Pretax Income	95.46K	41.20K	35.35K	51.98K	91.47K
Operating Income RE	81.41K	160.38K	30.17K	94.02K	315.99K
Operating Margin	+11.9%	+18.7%	+4.6%	+10.4%	+28.3%
Profit Margin	+10.5%	+17.6%	+1.2%	+1.8%	+0.2%
Net Income	72.06K	150.96K	8.11K	16.77K	2.50K
Net Income to Common	72.06K	150.96K	8.11K	16.77K	2.50K
Net Income to Company	93.72K	40.82K	35.30K	51.16K	91.47K
Net Income Growth	-52.3%	+1,762.3%	-51.7%	+572.0%	-66.1%
Earnings From Continuing Ops.	93.72K	40.82K	35.30K	51.16K	91.47K
Minority Interest in Earnings	-21.66K	110.14K	-27.19K	-34.39K	-88.98K
Income Tax Expense	1.74K	0.37K	0.05K	0.83K	—
Effective Tax Rate	+1.8%	+0.9%	+0.1%	+1.6%	—
Net Interest Expense RE	-57.92K	-52.19K	-52.51K	-41.56K	-24.46K
Per Share & Capital
EPS (Basic)	0.00	0.00	0.00	0.00	0.00
EPS (Diluted)	0.00	0.00	0.00	0.00	0.00
EPS Growth	-52.3%	+1,771.8%	-51.3%	+566.7%	-65.7%
Shares Change (YoY)	—	—	-0	—	—
Shares Outstanding (Basic)	206.58M	206.58M	206.58M	207.02M	207.02M
Shares Outstanding (Diluted)	206.58M	206.58M	206.58M	207.02M	207.02M
Payout Ratio	—	—	—	—	—
Supplemental
Property Management Fees	—	—	—	—	1.77K