Financials

Income Statement Balance Sheet Cash Flow Ratios

Quarterly (KWD)

1-5

	Q1 2026Mar 31, 2026	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025
Operating Summary
Revenue	8.09M	6.30M	4.03M	8.40M	7.89M
Cost of Revenue	3.02M	3.48M	1.63M	3.40M	3.27M
Gross Profit	5.08M	2.83M	2.40M	5.01M	4.63M
SG&A	110.51K	555.45K	252.55K	308.97K	85.38K
Operating Expenses	0.22M	1.25M	0.29M	0.40M	0.17M
Operating Income	4.86M	1.57M	2.10M	4.61M	4.45M
Interest Expense	-566.89K	-621.49K	-657.84K	-653.19K	-706.00K
Other Income/Expense	—	4.62M	—	—	—
Pretax Income	4.39M	5.47M	1.30M	3.42M	3.70M
Income Tax	75.94K	782.30K	12.17K	78.89K	30.70K
Net Income	3.71M	4.66M	1.17M	3.08M	3.32M
EBITDA	4.87M	1.58M	2.12M	4.62M	4.47M
EBIT	4.86M	1.57M	2.10M	4.61M	4.45M
EPS (Basic)	0.01	0.01	0.00	0.01	0.01
EPS (Diluted)	0.01	0.01	0.00	0.01	0.01
Margins & Efficiency
Gross Margin %	+62.7%	+44.8%	+59.5%	+59.6%	+58.6%
EBITDA Margin %	+60.2%	+25.1%	+52.5%	+55.0%	+56.6%
Net Margin %	+45.8%	+73.9%	+29.0%	+36.6%	+42.1%
Revenue & Income
Revenue	8.09M	6.30M	4.03M	8.40M	7.89M
Revenue Growth (YoY)	+2.5%	+22.9%	+2.3%	+13.2%	+14.8%
Operating Revenue	5.89M	5.22M	2.98M	6.68M	5.45M
Other Revenue	2.20M	1.09M	1.05M	1.72M	2.44M
Gain (Loss) on Sale of Investments	—	—	—	—	—
Currency Exchange Gain (Loss)	220.36K	70.90K	-47.26K	-408.67K	37.91K
Expenses & Provisions
Cost of Revenue	3.02M	3.48M	1.63M	3.40M	3.27M
Selling, General & Admin	110.51K	555.45K	252.55K	308.97K	85.38K
Operating Expenses	0.22M	1.25M	0.29M	0.40M	0.17M
Other Operating Expenses	96.86K	145.44K	30.12K	84.76K	76.53K
Interest Expense	-566.89K	-621.49K	-657.84K	-653.19K	-706.00K
Other Non Operating Income (Expenses)	—	4.62M	—	—	—
Legal Settlements	—	—	—	—	—
Asset Writedown	-0.08M	-0.10M	-0.06M	-0.06M	-0.06M
D&A For EBITDA	12.40K	12.61K	13.49K	13.21K	13.20K
Profitability & Returns
Gross Profit	5.08M	2.83M	2.40M	5.01M	4.63M
Gross Margin	+62.7%	+44.8%	+59.5%	+59.6%	+58.6%
EBIT	4.86M	1.57M	2.10M	4.61M	4.45M
EBIT Margin	+60.0%	+24.9%	+52.2%	+54.9%	+56.4%
EBITDA	4.87M	1.58M	2.12M	4.62M	4.47M
EBITDA Margin	+60.2%	+25.1%	+52.5%	+55.0%	+56.6%
EBT Excluding Unusual Items	4.51M	5.64M	1.40M	3.55M	3.79M
Pretax Income	4.39M	5.47M	1.30M	3.42M	3.70M
Operating Income	4.86M	1.57M	2.10M	4.61M	4.45M
Operating Margin	+60.0%	+24.9%	+52.2%	+54.9%	+56.4%
Profit Margin	+45.8%	+73.9%	+29.0%	+36.6%	+42.1%
Net Income	3.71M	4.66M	1.17M	3.08M	3.32M
Net Income to Common	3.71M	4.66M	1.17M	3.08M	3.32M
Net Income Growth	+11.7%	+670.2%	+91.5%	+35.5%	+37.3%
Earnings From Continuing Ops.	4.31M	4.69M	1.29M	3.34M	3.67M
Minority Interest in Earnings	-0.60M	-0.03M	-0.12M	-0.27M	-0.35M
Income Tax Expense	75.94K	782.30K	12.17K	78.89K	30.70K
Effective Tax Rate	+1.7%	+14.3%	+0.9%	+2.3%	+0.8%
Per Share & Capital
EPS (Basic)	0.01	0.01	0.00	0.01	0.01
EPS (Diluted)	0.01	0.01	0.00	0.01	0.01
EPS Growth	+11.7%	+670.3%	+91.4%	+35.5%	+37.3%
Dividend Per Share	—	0.01	—	—	—
Shares Outstanding (Basic)	322.00M	322.00M	322.00M	322.00M	322.00M
Shares Outstanding (Diluted)	322.00M	322.00M	322.00M	322.00M	322.00M
Free Cash Flow	-0.39M	6.38M	-0.05M	0.05M	0.29M
Free Cash Flow Margin	-4.9%	+101.2%	-1.3%	+0.6%	+3.7%
Free Cash Flow Per Share	-0.00	0.02	0.00	0.00	0.00
Payout Ratio	—	+0.1%	+0.1%	0.0%	—
Supplemental
Other Unusual Items	-0.04M	-0.07M	-0.04M	-0.06M	-0.03M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (KWD)

1-5

	Q1 2026Mar 31, 2026	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025
Operating Summary
Revenue	8.09M	6.30M	4.03M	8.40M	7.89M
Cost of Revenue	3.02M	3.48M	1.63M	3.40M	3.27M
Gross Profit	5.08M	2.83M	2.40M	5.01M	4.63M
SG&A	110.51K	555.45K	252.55K	308.97K	85.38K
Operating Expenses	0.22M	1.25M	0.29M	0.40M	0.17M
Operating Income	4.86M	1.57M	2.10M	4.61M	4.45M
Interest Expense	-566.89K	-621.49K	-657.84K	-653.19K	-706.00K
Other Income/Expense	—	4.62M	—	—	—
Pretax Income	4.39M	5.47M	1.30M	3.42M	3.70M
Income Tax	75.94K	782.30K	12.17K	78.89K	30.70K
Net Income	3.71M	4.66M	1.17M	3.08M	3.32M
EBITDA	4.87M	1.58M	2.12M	4.62M	4.47M
EBIT	4.86M	1.57M	2.10M	4.61M	4.45M
EPS (Basic)	0.01	0.01	0.00	0.01	0.01
EPS (Diluted)	0.01	0.01	0.00	0.01	0.01
Margins & Efficiency
Gross Margin %	+62.7%	+44.8%	+59.5%	+59.6%	+58.6%
EBITDA Margin %	+60.2%	+25.1%	+52.5%	+55.0%	+56.6%
Net Margin %	+45.8%	+73.9%	+29.0%	+36.6%	+42.1%
Revenue & Income
Revenue	8.09M	6.30M	4.03M	8.40M	7.89M
Revenue Growth (YoY)	+2.5%	+22.9%	+2.3%	+13.2%	+14.8%
Operating Revenue	5.89M	5.22M	2.98M	6.68M	5.45M
Other Revenue	2.20M	1.09M	1.05M	1.72M	2.44M
Gain (Loss) on Sale of Investments	—	—	—	—	—
Currency Exchange Gain (Loss)	220.36K	70.90K	-47.26K	-408.67K	37.91K
Expenses & Provisions
Cost of Revenue	3.02M	3.48M	1.63M	3.40M	3.27M
Selling, General & Admin	110.51K	555.45K	252.55K	308.97K	85.38K
Operating Expenses	0.22M	1.25M	0.29M	0.40M	0.17M
Other Operating Expenses	96.86K	145.44K	30.12K	84.76K	76.53K
Interest Expense	-566.89K	-621.49K	-657.84K	-653.19K	-706.00K
Other Non Operating Income (Expenses)	—	4.62M	—	—	—
Legal Settlements	—	—	—	—	—
Asset Writedown	-0.08M	-0.10M	-0.06M	-0.06M	-0.06M
D&A For EBITDA	12.40K	12.61K	13.49K	13.21K	13.20K
Profitability & Returns
Gross Profit	5.08M	2.83M	2.40M	5.01M	4.63M
Gross Margin	+62.7%	+44.8%	+59.5%	+59.6%	+58.6%
EBIT	4.86M	1.57M	2.10M	4.61M	4.45M
EBIT Margin	+60.0%	+24.9%	+52.2%	+54.9%	+56.4%
EBITDA	4.87M	1.58M	2.12M	4.62M	4.47M
EBITDA Margin	+60.2%	+25.1%	+52.5%	+55.0%	+56.6%
EBT Excluding Unusual Items	4.51M	5.64M	1.40M	3.55M	3.79M
Pretax Income	4.39M	5.47M	1.30M	3.42M	3.70M
Operating Income	4.86M	1.57M	2.10M	4.61M	4.45M
Operating Margin	+60.0%	+24.9%	+52.2%	+54.9%	+56.4%
Profit Margin	+45.8%	+73.9%	+29.0%	+36.6%	+42.1%
Net Income	3.71M	4.66M	1.17M	3.08M	3.32M
Net Income to Common	3.71M	4.66M	1.17M	3.08M	3.32M
Net Income Growth	+11.7%	+670.2%	+91.5%	+35.5%	+37.3%
Earnings From Continuing Ops.	4.31M	4.69M	1.29M	3.34M	3.67M
Minority Interest in Earnings	-0.60M	-0.03M	-0.12M	-0.27M	-0.35M
Income Tax Expense	75.94K	782.30K	12.17K	78.89K	30.70K
Effective Tax Rate	+1.7%	+14.3%	+0.9%	+2.3%	+0.8%
Per Share & Capital
EPS (Basic)	0.01	0.01	0.00	0.01	0.01
EPS (Diluted)	0.01	0.01	0.00	0.01	0.01
EPS Growth	+11.7%	+670.3%	+91.4%	+35.5%	+37.3%
Dividend Per Share	—	0.01	—	—	—
Shares Outstanding (Basic)	322.00M	322.00M	322.00M	322.00M	322.00M
Shares Outstanding (Diluted)	322.00M	322.00M	322.00M	322.00M	322.00M
Free Cash Flow	-0.39M	6.38M	-0.05M	0.05M	0.29M
Free Cash Flow Margin	-4.9%	+101.2%	-1.3%	+0.6%	+3.7%
Free Cash Flow Per Share	-0.00	0.02	0.00	0.00	0.00
Payout Ratio	—	+0.1%	+0.1%	0.0%	—
Supplemental
Other Unusual Items	-0.04M	-0.07M	-0.04M	-0.06M	-0.03M

Financials

Quarterly (KWD)

MUNSHAAT REAL ESTATE PROJECTS CO

Quarterly (KWD)