THE NATIONAL REAL ESTATE COMPANY

National Real Estate Co. S.A.K.

NREStocksBoursa 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
Assets
Cash & Equivalents	19.15M	25.13M	9.80M	11.65M	11.68M
Receivables	4.38M	5.22M	8.34M	9.54M	16.82M
PP&E	10.53M	10.53M	10.03M	10.34M	10.28M
Total Assets	543.63M	574.01M	533.17M	538.75M	654.15M
Liabilities
Long-Term Debt	132.70M	119.65M	117.90M	123.60M	105.35M
Total Liabilities	212.59M	196.63M	182.69M	179.02M	200.16M
Equity & Ownership
Total Equity	331.04M	377.38M	350.48M	359.73M	453.99M
Shares Outstanding	2,097,913,527	2,103,151,862	2,073,890,904	2,048,598,320	2,050,720,038
Cash & Assets
Total Assets	543.63M	574.01M	533.17M	538.75M	654.15M
Cash & Equivalents	19.15M	25.13M	9.80M	11.65M	11.68M
Net Cash (Debt)	-111.30M	-96.82M	-104.28M	-99.98M	-98.88M
Net Cash Per Share	-0.06	-0.05	-0.05	-0.05	-0.05
Accounts Receivable	4.38M	5.22M	8.34M	9.54M	16.82M
Other Receivables	3.73M	3.27M	3.45M	5.31M	2.68M
Construction In Progress	—	—	—	—	—
Buildings	—	—	—	3.30M	3.38M
Property, Plant & Equipment	10.53M	10.53M	10.03M	10.34M	10.28M
Other Current Assets RE	37.54M	36.22M	40.38M	47.43M	61.95M
Other Long Term Assets RE	439.61M	466.43M	437.62M	437.90M	535.30M
Long-Term Leases	740.57K	845.79K	345.22K	404.19K	205.62K
Current Portion of Leases	4.38K	4.12K	6.75K	236.21K	223.83K
Loans & Investments
Long Term Investments RE	4.51M	5.96M	4.84M	—	—
Trading Asset Securities	24.17M	21.25M	18.70M	16.59M	15.44M
Liabilities & Obligations
Total Liabilities & Equity	543.63M	574.01M	533.17M	538.75M	654.15M
Accounts Payable RE	10.43M	9.88M	8.78M	8.71M	9.08M
Accrued Expenses RE	6.05M	6.16M	4.28M	5.32M	10.87M
Long-Term Unearned Revenue	28.65M	25.82M	23.95M	23.53M	29.72M
Other Long Term Liabilities RE	11.74M	10.62M	12.02M	12.11M	23.45M
Debt & Funding
Total Debt	154.62M	143.20M	132.78M	128.21M	126.00M
Current Port Long Term Debt RE	21.18M	22.70M	14.53M	3.97M	20.23M
Long Term Debt RE	132.70M	119.65M	117.90M	123.60M	105.35M
Equity & Book Value
Shareholders' Equity	331.04M	377.38M	350.48M	359.73M	453.99M
Total Common Equity	327.50M	373.86M	346.28M	354.73M	448.21M
Common Stock	218.44M	208.03M	198.13M	198.13M	165.11M
Additional Paid-In Capital	5.27M	5.27M	5.27M	5.27M	5.27M
Retained Earnings	190.36M	273.14M	274.20M	309.38M	325.45M
Treasury Stock	-10.71M	-10.32M	-14.03M	-17.34M	-14.35M
Other Equity RE	-75.84M	-102.26M	-117.28M	-140.71M	-33.26M
Minority Interest	3.53M	3.52M	4.20M	5.00M	5.78M
Book Value Per Share	0.16	0.18	0.17	0.17	0.22
Tangible Book Value	327.50M	373.86M	346.28M	354.73M	448.21M
Tangible Book Value Per Share	0.16	0.18	0.17	0.17	0.22
Filing Date Shares Outstanding	2.10B	2.10B	2.07B	2.05B	2.05B
Total Common Shares Outstanding	2.10B	2.10B	2.07B	2.05B	2.05B
Supplemental
Total Liabilities RE	212.59M	196.63M	182.69M	179.02M	200.16M

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
Assets
Cash & Equivalents	19.15M	25.13M	9.80M	11.65M	11.68M
Receivables	4.38M	5.22M	8.34M	9.54M	16.82M
PP&E	10.53M	10.53M	10.03M	10.34M	10.28M
Total Assets	543.63M	574.01M	533.17M	538.75M	654.15M
Liabilities
Long-Term Debt	132.70M	119.65M	117.90M	123.60M	105.35M
Total Liabilities	212.59M	196.63M	182.69M	179.02M	200.16M
Equity & Ownership
Total Equity	331.04M	377.38M	350.48M	359.73M	453.99M
Shares Outstanding	2,097,913,527	2,103,151,862	2,073,890,904	2,048,598,320	2,050,720,038
Cash & Assets
Total Assets	543.63M	574.01M	533.17M	538.75M	654.15M
Cash & Equivalents	19.15M	25.13M	9.80M	11.65M	11.68M
Net Cash (Debt)	-111.30M	-96.82M	-104.28M	-99.98M	-98.88M
Net Cash Per Share	-0.06	-0.05	-0.05	-0.05	-0.05
Accounts Receivable	4.38M	5.22M	8.34M	9.54M	16.82M
Other Receivables	3.73M	3.27M	3.45M	5.31M	2.68M
Construction In Progress	—	—	—	—	—
Buildings	—	—	—	3.30M	3.38M
Property, Plant & Equipment	10.53M	10.53M	10.03M	10.34M	10.28M
Other Current Assets RE	37.54M	36.22M	40.38M	47.43M	61.95M
Other Long Term Assets RE	439.61M	466.43M	437.62M	437.90M	535.30M
Long-Term Leases	740.57K	845.79K	345.22K	404.19K	205.62K
Current Portion of Leases	4.38K	4.12K	6.75K	236.21K	223.83K
Loans & Investments
Long Term Investments RE	4.51M	5.96M	4.84M	—	—
Trading Asset Securities	24.17M	21.25M	18.70M	16.59M	15.44M
Liabilities & Obligations
Total Liabilities & Equity	543.63M	574.01M	533.17M	538.75M	654.15M
Accounts Payable RE	10.43M	9.88M	8.78M	8.71M	9.08M
Accrued Expenses RE	6.05M	6.16M	4.28M	5.32M	10.87M
Long-Term Unearned Revenue	28.65M	25.82M	23.95M	23.53M	29.72M
Other Long Term Liabilities RE	11.74M	10.62M	12.02M	12.11M	23.45M
Debt & Funding
Total Debt	154.62M	143.20M	132.78M	128.21M	126.00M
Current Port Long Term Debt RE	21.18M	22.70M	14.53M	3.97M	20.23M
Long Term Debt RE	132.70M	119.65M	117.90M	123.60M	105.35M
Equity & Book Value
Shareholders' Equity	331.04M	377.38M	350.48M	359.73M	453.99M
Total Common Equity	327.50M	373.86M	346.28M	354.73M	448.21M
Common Stock	218.44M	208.03M	198.13M	198.13M	165.11M
Additional Paid-In Capital	5.27M	5.27M	5.27M	5.27M	5.27M
Retained Earnings	190.36M	273.14M	274.20M	309.38M	325.45M
Treasury Stock	-10.71M	-10.32M	-14.03M	-17.34M	-14.35M
Other Equity RE	-75.84M	-102.26M	-117.28M	-140.71M	-33.26M
Minority Interest	3.53M	3.52M	4.20M	5.00M	5.78M
Book Value Per Share	0.16	0.18	0.17	0.17	0.22
Tangible Book Value	327.50M	373.86M	346.28M	354.73M	448.21M
Tangible Book Value Per Share	0.16	0.18	0.17	0.17	0.22
Filing Date Shares Outstanding	2.10B	2.10B	2.07B	2.05B	2.05B
Total Common Shares Outstanding	2.10B	2.10B	2.07B	2.05B	2.05B
Supplemental
Total Liabilities RE	212.59M	196.63M	182.69M	179.02M	200.16M