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

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	-50.57M	-12.23M	24.28M	-63.48M	5.16M
Interest Income	114.62K	347.12K	113.94K	116.92K	98.05K
Interest Expense	-2.08M	-1.24M	-2.45M	-2.41M	-2.26M
Pretax Income	-53.74M	-26.84M	20.13M	-66.49M	1.25M
Income Tax	46.70K	177.90K	4.32K	12.79K	39.95K
Net Income	-53.84M	-27.20M	20.11M	-66.49M	1.21M
Rental Revenue	0.30M	0.29M	0.28M	0.28M	0.27M
Property Expenses	0.21M	0.50M	0.27M	0.26M	0.21M
Operating Income	-52.27M	-16.24M	22.37M	-64.34M	3.29M
EPS (Basic)	-0.03	-0.01	0.01	-0.03	0.00
EPS (Diluted)	-0.03	-0.01	0.01	-0.03	0.00
Margins & Efficiency
Net Margin %	+106.5%	+222.5%	+82.8%	+104.8%	+23.4%
Revenue & Income
Revenue as Reported	0.81M	0.94M	0.99M	0.81M	0.80M
Revenue Growth (YoY)	—	—	+334.2%	—	-25.0%
Revenue RE	-50.57M	-12.23M	24.28M	-63.48M	5.16M
Rental Revenue	0.30M	0.29M	0.28M	0.28M	0.27M
Other Revenue RE	-50.87M	-12.52M	23.99M	-63.75M	4.89M
Gain Investments RE	—	-9.40M	—	—	—
Expenses & Provisions
SG&A RE	1.40M	3.44M	1.56M	0.52M	1.55M
Total Operating Expenses RE	1.70M	4.01M	1.91M	0.86M	1.87M
Interest Expense RE	-2.08M	-1.24M	-2.45M	-2.41M	-2.26M
Other Non Oper Exp Suppl RE	0.49M	-0.17M	0.10M	0.13M	0.13M
Property Expenses	0.21M	0.50M	0.27M	0.26M	0.21M
Asset Writedown	—	-137.91K	—	—	—
D&A For EBITDA	84.74K	87.06K	81.07K	81.37K	80.81K
Dep Amor RE	84.74K	87.06K	81.07K	81.37K	80.81K
Profitability & Returns
EBIT	-52.27M	-16.24M	22.37M	-64.34M	3.29M
EBIT Margin	—	—	+92.2%	—	+63.8%
EBITDA	-52.18M	-16.15M	22.45M	-64.26M	3.37M
EBITDA Margin	—	—	+92.5%	—	+65.3%
EBT Excl RE	-53.74M	-17.30M	20.13M	-66.49M	1.25M
Pretax Income	-53.74M	-26.84M	20.13M	-66.49M	1.25M
Operating Income RE	-52.27M	-16.24M	22.37M	-64.34M	3.29M
Operating Margin	—	—	+92.2%	—	+63.8%
Profit Margin	—	—	+82.8%	—	+23.4%
Net Income	-53.84M	-27.20M	20.11M	-66.49M	1.21M
Net Income to Common	-53.84M	-27.20M	20.11M	-66.49M	1.21M
Net Income to Company	-53.79M	-27.01M	20.13M	-66.51M	1.21M
Net Income Growth	—	—	+888.5%	—	-58.4%
Earnings From Continuing Ops.	-53.79M	-27.01M	20.13M	-66.51M	1.21M
Earnings From Discontinued Ops.	—	—	—	—	—
Minority Interest in Earnings	-53.66K	-188.37K	-21.55K	15.41K	-6.42K
Income Tax Expense	46.70K	177.90K	4.32K	12.79K	39.95K
Effective Tax Rate	—	—	0.0%	—	+3.2%
Net Interest Expense RE	-1.97M	-0.89M	-2.34M	-2.29M	-2.16M
Per Share & Capital
EPS (Basic)	-0.03	-0.01	0.01	-0.03	0.00
EPS (Diluted)	-0.03	-0.01	0.01	-0.03	0.00
EPS Growth	—	—	+891.7%	—	-58.9%
Shares Change (YoY)	-0	-0	-0	0.06	0.01
Shares Outstanding (Basic)	1.99B	1.99B	1.99B	2.02B	1.99B
Shares Outstanding (Diluted)	1.99B	1.99B	1.99B	2.02B	1.99B
Supplemental
Int Inc RE	114.62K	347.12K	113.94K	116.92K	98.05K

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	-50.57M	-12.23M	24.28M	-63.48M	5.16M
Interest Income	114.62K	347.12K	113.94K	116.92K	98.05K
Interest Expense	-2.08M	-1.24M	-2.45M	-2.41M	-2.26M
Pretax Income	-53.74M	-26.84M	20.13M	-66.49M	1.25M
Income Tax	46.70K	177.90K	4.32K	12.79K	39.95K
Net Income	-53.84M	-27.20M	20.11M	-66.49M	1.21M
Rental Revenue	0.30M	0.29M	0.28M	0.28M	0.27M
Property Expenses	0.21M	0.50M	0.27M	0.26M	0.21M
Operating Income	-52.27M	-16.24M	22.37M	-64.34M	3.29M
EPS (Basic)	-0.03	-0.01	0.01	-0.03	0.00
EPS (Diluted)	-0.03	-0.01	0.01	-0.03	0.00
Margins & Efficiency
Net Margin %	+106.5%	+222.5%	+82.8%	+104.8%	+23.4%
Revenue & Income
Revenue as Reported	0.81M	0.94M	0.99M	0.81M	0.80M
Revenue Growth (YoY)	—	—	+334.2%	—	-25.0%
Revenue RE	-50.57M	-12.23M	24.28M	-63.48M	5.16M
Rental Revenue	0.30M	0.29M	0.28M	0.28M	0.27M
Other Revenue RE	-50.87M	-12.52M	23.99M	-63.75M	4.89M
Gain Investments RE	—	-9.40M	—	—	—
Expenses & Provisions
SG&A RE	1.40M	3.44M	1.56M	0.52M	1.55M
Total Operating Expenses RE	1.70M	4.01M	1.91M	0.86M	1.87M
Interest Expense RE	-2.08M	-1.24M	-2.45M	-2.41M	-2.26M
Other Non Oper Exp Suppl RE	0.49M	-0.17M	0.10M	0.13M	0.13M
Property Expenses	0.21M	0.50M	0.27M	0.26M	0.21M
Asset Writedown	—	-137.91K	—	—	—
D&A For EBITDA	84.74K	87.06K	81.07K	81.37K	80.81K
Dep Amor RE	84.74K	87.06K	81.07K	81.37K	80.81K
Profitability & Returns
EBIT	-52.27M	-16.24M	22.37M	-64.34M	3.29M
EBIT Margin	—	—	+92.2%	—	+63.8%
EBITDA	-52.18M	-16.15M	22.45M	-64.26M	3.37M
EBITDA Margin	—	—	+92.5%	—	+65.3%
EBT Excl RE	-53.74M	-17.30M	20.13M	-66.49M	1.25M
Pretax Income	-53.74M	-26.84M	20.13M	-66.49M	1.25M
Operating Income RE	-52.27M	-16.24M	22.37M	-64.34M	3.29M
Operating Margin	—	—	+92.2%	—	+63.8%
Profit Margin	—	—	+82.8%	—	+23.4%
Net Income	-53.84M	-27.20M	20.11M	-66.49M	1.21M
Net Income to Common	-53.84M	-27.20M	20.11M	-66.49M	1.21M
Net Income to Company	-53.79M	-27.01M	20.13M	-66.51M	1.21M
Net Income Growth	—	—	+888.5%	—	-58.4%
Earnings From Continuing Ops.	-53.79M	-27.01M	20.13M	-66.51M	1.21M
Earnings From Discontinued Ops.	—	—	—	—	—
Minority Interest in Earnings	-53.66K	-188.37K	-21.55K	15.41K	-6.42K
Income Tax Expense	46.70K	177.90K	4.32K	12.79K	39.95K
Effective Tax Rate	—	—	0.0%	—	+3.2%
Net Interest Expense RE	-1.97M	-0.89M	-2.34M	-2.29M	-2.16M
Per Share & Capital
EPS (Basic)	-0.03	-0.01	0.01	-0.03	0.00
EPS (Diluted)	-0.03	-0.01	0.01	-0.03	0.00
EPS Growth	—	—	+891.7%	—	-58.9%
Shares Change (YoY)	-0	-0	-0	0.06	0.01
Shares Outstanding (Basic)	1.99B	1.99B	1.99B	2.02B	1.99B
Shares Outstanding (Diluted)	1.99B	1.99B	1.99B	2.02B	1.99B
Supplemental
Int Inc RE	114.62K	347.12K	113.94K	116.92K	98.05K