Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	21.12M	19.07M	13.69M	12.55M	14.76M
Cost of Revenue	16.33M	14.65M	10.12M	9.47M	11.18M
Gross Profit	4.79M	4.43M	3.57M	3.08M	3.58M
SG&A	1.94M	1.99M	1.91M	2.00M	3.66M
Operating Expenses	3.76M	3.80M	2.60M	3.03M	4.82M
Operating Income	1.03M	0.63M	0.97M	0.05M	-1.24M
Interest Income	110.57K	154.64K	173.95K	43.49K	15.44K
Interest Expense	-779.47K	-668.10K	-604.15K	-415.83K	-336.23K
Other Income/Expense	106.18K	82.97K	105.02K	136.87K	75.22K
Pretax Income	348.44K	289.43K	763.11K	868.49K	-882.01K
Income Tax	3.12K	5.13K	4.33K	2.61K	—
Net Income	-0.04M	-0.06M	0.25M	0.42M	-1.26M
EBITDA	1.81M	1.29M	1.48M	0.46M	-0.89M
EBIT	1.03M	0.63M	0.97M	0.05M	-1.24M
EPS (Basic)	-0.00	-0.00	0.00	0.00	-0.01
EPS (Diluted)	-0.00	-0.00	0.00	0.00	-0.01
Margins & Efficiency
Gross Margin %	+22.7%	+23.2%	+26.1%	+24.5%	+24.2%
EBITDA Margin %	+8.6%	+6.8%	+10.8%	+3.7%	-6.0%
Net Margin %	-0.2%	-0.3%	+1.8%	+3.3%	-8.5%
Revenue & Income
Revenue	21.12M	19.07M	13.69M	12.55M	14.76M
Revenue as Reported	21.12M	19.07M	13.69M	12.55M	14.76M
Revenue Growth (YoY)	+10.8%	+39.3%	+9.1%	-15.0%	-18.9%
Interest & Investment Income	110.57K	154.64K	173.95K	43.49K	15.44K
Earnings From Equity Investments	-221.37K	-1.66K	-1.40K	773.66K	558.11K
Gain (Loss) on Sale of Assets	51.53K	69.63K	28.55K	208.74K	52.70K
Currency Exchange Gain (Loss)	-1.97K	-0.14K	-1.61K	8.50K	-7.99K
Expenses & Provisions
Cost of Revenue	16.33M	14.65M	10.12M	9.47M	11.18M
Selling, General & Admin	1.94M	1.99M	1.91M	2.00M	3.66M
Operating Expenses	3.76M	3.80M	2.60M	3.03M	4.82M
Other Operating Expenses	7.80K	12.82K	10.82K	123.42K	—
Interest Expense	-779.47K	-668.10K	-604.15K	-415.83K	-336.23K
Other Non Operating Income (Expenses)	106.18K	82.97K	105.02K	136.87K	75.22K
Legal Settlements	22.13K	3.69K	104.45K	62.75K	—
Asset Writedown	32.00K	23.00K	-11.00K	—	—
D&A For EBITDA	779.24K	662.55K	515.66K	408.24K	351.63K
Profitability & Returns
Gross Profit	4.79M	4.43M	3.57M	3.08M	3.58M
Gross Margin	+22.7%	+23.2%	+26.1%	+24.5%	+24.2%
EBIT	1.03M	0.63M	0.97M	0.05M	-1.24M
EBIT Margin	+4.9%	+3.3%	+7.1%	+0.4%	-8.4%
EBITDA	1.81M	1.29M	1.48M	0.46M	-0.89M
EBITDA Margin	+8.6%	+6.8%	+10.8%	+3.7%	-6.0%
EBT Excluding Unusual Items	242.78K	193.12K	641.11K	597.00K	-934.71K
Pretax Income	348.44K	289.43K	763.11K	868.49K	-882.01K
Operating Income	1.03M	0.63M	0.97M	0.05M	-1.24M
Operating Margin	+4.9%	+3.3%	+7.1%	+0.4%	-8.4%
Profit Margin	-0.2%	-0.3%	+1.8%	+3.3%	-8.5%
Net Income	-0.04M	-0.06M	0.25M	0.42M	-1.26M
Net Income to Common	-0.04M	-0.06M	0.25M	0.42M	-1.26M
Net Income Growth	—	—	-39.9%	—	—
Earnings From Continuing Ops.	345.32K	284.31K	758.79K	865.88K	-882.01K
Minority Interest in Earnings	-390.00K	-346.32K	-508.60K	-449.74K	-378.31K
Income Tax Expense	3.12K	5.13K	4.33K	2.61K	—
Effective Tax Rate	+0.9%	+1.8%	+0.6%	+0.3%	—
Per Share & Capital
EPS (Basic)	-0.00	-0.00	0.00	0.00	-0.01
EPS (Diluted)	-0.00	-0.00	0.00	0.00	-0.01
EPS Growth	—	—	-36.5%	—	—
Shares Change (YoY)	0.12	0.84	-0.38	0.61	-0
Shares Outstanding (Basic)	90.09M	90.09M	90.09M	90.10M	90.02M
Shares Outstanding (Diluted)	185.36M	165.76M	90.09M	144.62M	90.02M
Free Cash Flow	1.66M	-0.22M	-1.15M	-0.69M	-1.34M
Free Cash Flow Margin	+7.9%	-1.1%	-8.4%	-5.5%	-9.1%
Free Cash Flow Per Share	0.01	-0.00	-0.01	-0.01	-0.02

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	21.12M	19.07M	13.69M	12.55M	14.76M
Cost of Revenue	16.33M	14.65M	10.12M	9.47M	11.18M
Gross Profit	4.79M	4.43M	3.57M	3.08M	3.58M
SG&A	1.94M	1.99M	1.91M	2.00M	3.66M
Operating Expenses	3.76M	3.80M	2.60M	3.03M	4.82M
Operating Income	1.03M	0.63M	0.97M	0.05M	-1.24M
Interest Income	110.57K	154.64K	173.95K	43.49K	15.44K
Interest Expense	-779.47K	-668.10K	-604.15K	-415.83K	-336.23K
Other Income/Expense	106.18K	82.97K	105.02K	136.87K	75.22K
Pretax Income	348.44K	289.43K	763.11K	868.49K	-882.01K
Income Tax	3.12K	5.13K	4.33K	2.61K	—
Net Income	-0.04M	-0.06M	0.25M	0.42M	-1.26M
EBITDA	1.81M	1.29M	1.48M	0.46M	-0.89M
EBIT	1.03M	0.63M	0.97M	0.05M	-1.24M
EPS (Basic)	-0.00	-0.00	0.00	0.00	-0.01
EPS (Diluted)	-0.00	-0.00	0.00	0.00	-0.01
Margins & Efficiency
Gross Margin %	+22.7%	+23.2%	+26.1%	+24.5%	+24.2%
EBITDA Margin %	+8.6%	+6.8%	+10.8%	+3.7%	-6.0%
Net Margin %	-0.2%	-0.3%	+1.8%	+3.3%	-8.5%
Revenue & Income
Revenue	21.12M	19.07M	13.69M	12.55M	14.76M
Revenue as Reported	21.12M	19.07M	13.69M	12.55M	14.76M
Revenue Growth (YoY)	+10.8%	+39.3%	+9.1%	-15.0%	-18.9%
Interest & Investment Income	110.57K	154.64K	173.95K	43.49K	15.44K
Earnings From Equity Investments	-221.37K	-1.66K	-1.40K	773.66K	558.11K
Gain (Loss) on Sale of Assets	51.53K	69.63K	28.55K	208.74K	52.70K
Currency Exchange Gain (Loss)	-1.97K	-0.14K	-1.61K	8.50K	-7.99K
Expenses & Provisions
Cost of Revenue	16.33M	14.65M	10.12M	9.47M	11.18M
Selling, General & Admin	1.94M	1.99M	1.91M	2.00M	3.66M
Operating Expenses	3.76M	3.80M	2.60M	3.03M	4.82M
Other Operating Expenses	7.80K	12.82K	10.82K	123.42K	—
Interest Expense	-779.47K	-668.10K	-604.15K	-415.83K	-336.23K
Other Non Operating Income (Expenses)	106.18K	82.97K	105.02K	136.87K	75.22K
Legal Settlements	22.13K	3.69K	104.45K	62.75K	—
Asset Writedown	32.00K	23.00K	-11.00K	—	—
D&A For EBITDA	779.24K	662.55K	515.66K	408.24K	351.63K
Profitability & Returns
Gross Profit	4.79M	4.43M	3.57M	3.08M	3.58M
Gross Margin	+22.7%	+23.2%	+26.1%	+24.5%	+24.2%
EBIT	1.03M	0.63M	0.97M	0.05M	-1.24M
EBIT Margin	+4.9%	+3.3%	+7.1%	+0.4%	-8.4%
EBITDA	1.81M	1.29M	1.48M	0.46M	-0.89M
EBITDA Margin	+8.6%	+6.8%	+10.8%	+3.7%	-6.0%
EBT Excluding Unusual Items	242.78K	193.12K	641.11K	597.00K	-934.71K
Pretax Income	348.44K	289.43K	763.11K	868.49K	-882.01K
Operating Income	1.03M	0.63M	0.97M	0.05M	-1.24M
Operating Margin	+4.9%	+3.3%	+7.1%	+0.4%	-8.4%
Profit Margin	-0.2%	-0.3%	+1.8%	+3.3%	-8.5%
Net Income	-0.04M	-0.06M	0.25M	0.42M	-1.26M
Net Income to Common	-0.04M	-0.06M	0.25M	0.42M	-1.26M
Net Income Growth	—	—	-39.9%	—	—
Earnings From Continuing Ops.	345.32K	284.31K	758.79K	865.88K	-882.01K
Minority Interest in Earnings	-390.00K	-346.32K	-508.60K	-449.74K	-378.31K
Income Tax Expense	3.12K	5.13K	4.33K	2.61K	—
Effective Tax Rate	+0.9%	+1.8%	+0.6%	+0.3%	—
Per Share & Capital
EPS (Basic)	-0.00	-0.00	0.00	0.00	-0.01
EPS (Diluted)	-0.00	-0.00	0.00	0.00	-0.01
EPS Growth	—	—	-36.5%	—	—
Shares Change (YoY)	0.12	0.84	-0.38	0.61	-0
Shares Outstanding (Basic)	90.09M	90.09M	90.09M	90.10M	90.02M
Shares Outstanding (Diluted)	185.36M	165.76M	90.09M	144.62M	90.02M
Free Cash Flow	1.66M	-0.22M	-1.15M	-0.69M	-1.34M
Free Cash Flow Margin	+7.9%	-1.1%	-8.4%	-5.5%	-9.1%
Free Cash Flow Per Share	0.01	-0.00	-0.01	-0.01	-0.02

Financials

Annual (KWD)

METAL & RECYCLING CO.

Annual (KWD)