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)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	27.14M	-6.42M	43.48M	264.97M	30.30M
Interest Income	401.38K	157.12K	139.66K	74.84K	218.95K
Interest Expense	-9.33M	-9.29M	-7.01M	-7.00M	-7.81M
Pretax Income	10.44M	-33.98M	19.08M	196.28M	4.49M
Income Tax	611.73K	646.56K	681.65K	448.60K	-255.87K
Net Income	9.31M	-35.18M	17.94M	199.63M	0.44M
Rental Revenue	1.08M	2.42M	9.01M	10.91M	8.93M
Property Expenses	2.03M	5.68M	12.83M	22.94M	8.05M
Operating Income	19.29M	-25.41M	19.83M	224.59M	14.03M
EPS (Basic)	0.00	-0.02	0.01	0.10	0.00
EPS (Diluted)	0.00	-0.02	0.01	0.10	0.00
Margins & Efficiency
Net Margin %	+34.3%	+547.8%	+41.3%	+75.3%	+1.5%
Revenue & Income
Revenue as Reported	5.78M	12.38M	26.04M	32.45M	16.82M
Revenue Growth (YoY)	—	—	-83.6%	+774.4%	+19.8%
Revenue RE	27.14M	-6.42M	43.48M	264.97M	30.30M
Rental Revenue	1.08M	2.42M	9.01M	10.91M	8.93M
Other Revenue RE	26.06M	-8.85M	34.47M	254.06M	21.37M
Gain Investments RE	-0.21M	-0.59M	-0.77M	-22.22M	-2.75M
Expenses & Provisions
SG&A RE	5.77M	10.24M	9.21M	15.18M	6.78M
Total Operating Expenses RE	7.85M	18.98M	23.65M	40.38M	16.27M
Interest Expense RE	-9.33M	-9.29M	-7.01M	-7.00M	-7.81M
Other Non Oper Exp Suppl RE	0.38M	1.19M	7.09M	1.50M	0.99M
Property Expenses	2.03M	5.68M	12.83M	22.94M	8.05M
Asset Writedown	-89.99K	-38.35K	-201.79K	-666.04K	-200.92K
D&A For EBITDA	320.01K	341.13K	98.21K	102.76K	379.24K
Dep Amor RE	320.01K	341.13K	382.40K	375.28K	379.24K
Profitability & Returns
EBIT	19.29M	-25.41M	19.83M	224.59M	14.03M
EBIT Margin	+71.1%	—	+45.6%	+84.8%	+46.3%
EBITDA	19.61M	-25.07M	19.93M	224.69M	14.41M
EBITDA Margin	+72.2%	—	+45.8%	+84.8%	+47.6%
EBT Excl RE	10.74M	-33.35M	20.05M	219.17M	7.44M
Pretax Income	10.44M	-33.98M	19.08M	196.28M	4.49M
Operating Income RE	19.29M	-25.41M	19.83M	224.59M	14.03M
Operating Margin	+71.1%	—	+45.6%	+84.8%	+46.3%
Profit Margin	+34.3%	—	+41.3%	+75.3%	+1.5%
Net Income	9.31M	-35.18M	17.94M	199.63M	0.44M
Net Income to Common	9.31M	-35.18M	17.94M	199.63M	0.44M
Net Income to Company	9.83M	-34.62M	18.40M	200.14M	0.32M
Net Income Growth	—	—	-91.0%	+44,951.8%	-96.1%
Earnings From Continuing Ops.	9.83M	-34.62M	18.40M	195.83M	4.74M
Earnings From Discontinued Ops.	—	—	—	4.32M	-4.42M
Minority Interest in Earnings	-521.24K	-560.49K	-462.11K	-518.30K	122.70K
Income Tax Expense	611.73K	646.56K	681.65K	448.60K	-255.87K
Effective Tax Rate	+5.9%	—	+3.6%	+0.2%	—
Net Interest Expense RE	-8.93M	-9.13M	-6.87M	-6.92M	-7.59M
Per Share & Capital
EPS (Basic)	0.00	-0.02	0.01	0.10	0.00
EPS (Diluted)	0.00	-0.02	0.01	0.10	0.00
EPS Growth	—	—	-91.0%	+45,565.9%	-96.1%
Shares Change (YoY)	0.06	0.01	-0.01	-0.01	-0
Shares Outstanding (Basic)	2.08B	1.97B	1.95B	1.96B	1.99B
Shares Outstanding (Diluted)	2.08B	1.97B	1.95B	1.96B	1.99B
Supplemental
Int Inc RE	401.38K	157.12K	139.66K	74.84K	218.95K

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	27.14M	-6.42M	43.48M	264.97M	30.30M
Interest Income	401.38K	157.12K	139.66K	74.84K	218.95K
Interest Expense	-9.33M	-9.29M	-7.01M	-7.00M	-7.81M
Pretax Income	10.44M	-33.98M	19.08M	196.28M	4.49M
Income Tax	611.73K	646.56K	681.65K	448.60K	-255.87K
Net Income	9.31M	-35.18M	17.94M	199.63M	0.44M
Rental Revenue	1.08M	2.42M	9.01M	10.91M	8.93M
Property Expenses	2.03M	5.68M	12.83M	22.94M	8.05M
Operating Income	19.29M	-25.41M	19.83M	224.59M	14.03M
EPS (Basic)	0.00	-0.02	0.01	0.10	0.00
EPS (Diluted)	0.00	-0.02	0.01	0.10	0.00
Margins & Efficiency
Net Margin %	+34.3%	+547.8%	+41.3%	+75.3%	+1.5%
Revenue & Income
Revenue as Reported	5.78M	12.38M	26.04M	32.45M	16.82M
Revenue Growth (YoY)	—	—	-83.6%	+774.4%	+19.8%
Revenue RE	27.14M	-6.42M	43.48M	264.97M	30.30M
Rental Revenue	1.08M	2.42M	9.01M	10.91M	8.93M
Other Revenue RE	26.06M	-8.85M	34.47M	254.06M	21.37M
Gain Investments RE	-0.21M	-0.59M	-0.77M	-22.22M	-2.75M
Expenses & Provisions
SG&A RE	5.77M	10.24M	9.21M	15.18M	6.78M
Total Operating Expenses RE	7.85M	18.98M	23.65M	40.38M	16.27M
Interest Expense RE	-9.33M	-9.29M	-7.01M	-7.00M	-7.81M
Other Non Oper Exp Suppl RE	0.38M	1.19M	7.09M	1.50M	0.99M
Property Expenses	2.03M	5.68M	12.83M	22.94M	8.05M
Asset Writedown	-89.99K	-38.35K	-201.79K	-666.04K	-200.92K
D&A For EBITDA	320.01K	341.13K	98.21K	102.76K	379.24K
Dep Amor RE	320.01K	341.13K	382.40K	375.28K	379.24K
Profitability & Returns
EBIT	19.29M	-25.41M	19.83M	224.59M	14.03M
EBIT Margin	+71.1%	—	+45.6%	+84.8%	+46.3%
EBITDA	19.61M	-25.07M	19.93M	224.69M	14.41M
EBITDA Margin	+72.2%	—	+45.8%	+84.8%	+47.6%
EBT Excl RE	10.74M	-33.35M	20.05M	219.17M	7.44M
Pretax Income	10.44M	-33.98M	19.08M	196.28M	4.49M
Operating Income RE	19.29M	-25.41M	19.83M	224.59M	14.03M
Operating Margin	+71.1%	—	+45.6%	+84.8%	+46.3%
Profit Margin	+34.3%	—	+41.3%	+75.3%	+1.5%
Net Income	9.31M	-35.18M	17.94M	199.63M	0.44M
Net Income to Common	9.31M	-35.18M	17.94M	199.63M	0.44M
Net Income to Company	9.83M	-34.62M	18.40M	200.14M	0.32M
Net Income Growth	—	—	-91.0%	+44,951.8%	-96.1%
Earnings From Continuing Ops.	9.83M	-34.62M	18.40M	195.83M	4.74M
Earnings From Discontinued Ops.	—	—	—	4.32M	-4.42M
Minority Interest in Earnings	-521.24K	-560.49K	-462.11K	-518.30K	122.70K
Income Tax Expense	611.73K	646.56K	681.65K	448.60K	-255.87K
Effective Tax Rate	+5.9%	—	+3.6%	+0.2%	—
Net Interest Expense RE	-8.93M	-9.13M	-6.87M	-6.92M	-7.59M
Per Share & Capital
EPS (Basic)	0.00	-0.02	0.01	0.10	0.00
EPS (Diluted)	0.00	-0.02	0.01	0.10	0.00
EPS Growth	—	—	-91.0%	+45,565.9%	-96.1%
Shares Change (YoY)	0.06	0.01	-0.01	-0.01	-0
Shares Outstanding (Basic)	2.08B	1.97B	1.95B	1.96B	1.99B
Shares Outstanding (Diluted)	2.08B	1.97B	1.95B	1.96B	1.99B
Supplemental
Int Inc RE	401.38K	157.12K	139.66K	74.84K	218.95K