NATIONAL MOBILE TELECOMMUNICATIONS CO.

National Mobile Telecommunications Company K.S.C.

OOREDOOStocksBoursa KuwaitTelecommunications

Financials

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
Operations
Operating Cash Flow	299.96M	232.23M	252.73M	190.81M	175.23M
Free Cash Flow	149.78M	133.37M	160.59M	110.65M	101.08M
Capital Expenditures	-150.19M	-98.86M	-92.14M	-80.16M	-74.15M
Investing & Financing
Investing Cash Flow	-234.01M	-89.20M	-157.75M	-92.02M	-83.90M
Financing Cash Flow	-100.80M	-81.93M	-87.31M	-74.29M	-76.97M
Dividends Paid	-45.20M	-70.05M	-35.09M	-17.61M	-7.86M
Operating Activities
Operating Cash Flow	299.96M	232.23M	252.73M	190.81M	175.23M
Net Income	77.17M	49.41M	72.82M	39.46M	19.25M
Change in Accounts Payable	56.63M	7.57M	-7.89M	5.90M	4.75M
Change in Accounts Receivable	-37.80M	-16.25M	-7.96M	-18.12M	-15.38M
Change in Inventory	-0.71M	0.44M	0.62M	-3.57M	0.86M
Change in Other Net Operating Assets	2.31M	6.63M	-8.44M	12.76M	1.30M
Change in Unearned Revenue	10.06M	1.41M	3.38M	1.85M	-4.09M
Change in Working Capital	30.50M	-0.19M	-20.30M	-1.17M	-12.57M
Other Operating Activities	31.16M	26.59M	29.20M	13.26M	18.70M
Depreciation & Amortization	145.38M	131.71M	135.24M	132.80M	143.63M
Cash Interest Paid	15.23M	11.06M	9.62M	2.34M	4.13M
Cash Income Tax Paid	34.94M	20.38M	20.69M	11.95M	10.08M
Asset Writedown & Restructuring Costs	9.30M	9.34M	24.54M	—	0.14M
Investing Activities
Investing Cash Flow	-234.01M	-89.20M	-157.75M	-92.02M	-83.90M
Capital Expenditures	-150.19M	-98.86M	-92.14M	-80.16M	-74.15M
Investment in Securities	-33.73M	12.80M	-67.86M	-11.64M	-8.75M
Other Investing Activities	9.12M	4.14M	4.21M	3.45M	2.71M
Sale (Purchase) of Intangibles	-62.13M	-11.04M	-4.96M	-4.48M	-3.84M
Sale of Property, Plant & Equipment	2.91M	3.77M	2.99M	0.81M	0.13M
Loss (Gain) From Sale of Assets	-2.49M	-2.21M	-1.61M	-0.56M	0.09M
Loss (Gain) on Sale of Investments	8.96M	17.59M	12.83M	7.02M	5.98M
Financing Activities
Financing Cash Flow	-100.80M	-81.93M	-87.31M	-74.29M	-76.97M
Common Dividends Paid	-45.20M	-70.05M	-35.09M	-17.61M	-7.86M
Long-Term Debt Issued	2.39M	43.00M	6.45M	3.52M	37.58M
Long-Term Debt Repaid	-37.68M	-36.69M	-37.63M	-47.23M	-95.75M
Net Debt Issued (Repaid)	-35.29M	6.31M	-31.19M	-43.71M	-58.17M
Other Financing Activities	-20.30M	-18.19M	-21.03M	-12.97M	-10.94M
Free Cash Flow & Returns
Free Cash Flow	149.78M	133.37M	160.59M	110.65M	101.08M
Free Cash Flow Growth	+12.3%	-16.9%	+45.1%	+9.5%	-12.9%
Free Cash Flow Margin	+19.3%	+18.8%	+24.6%	+17.8%	+16.8%
Free Cash Flow Per Share	0.30	0.27	0.32	0.22	0.20
Levered Free Cash Flow	103.09M	95.23M	126.71M	92.52M	84.63M
Unlevered Free Cash Flow	111.86M	101.62M	132.26M	97.77M	90.79M
Operating Cash Flow Growth	+29.2%	-8.1%	+32.5%	+8.9%	-18.8%
Net Cash Flow	-29.99M	60.33M	6.72M	22.46M	11.36M
Foreign Exchange Rate Adjustments	4.86M	-0.77M	-0.95M	-2.04M	-3.00M

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
Operations
Operating Cash Flow	299.96M	232.23M	252.73M	190.81M	175.23M
Free Cash Flow	149.78M	133.37M	160.59M	110.65M	101.08M
Capital Expenditures	-150.19M	-98.86M	-92.14M	-80.16M	-74.15M
Investing & Financing
Investing Cash Flow	-234.01M	-89.20M	-157.75M	-92.02M	-83.90M
Financing Cash Flow	-100.80M	-81.93M	-87.31M	-74.29M	-76.97M
Dividends Paid	-45.20M	-70.05M	-35.09M	-17.61M	-7.86M
Operating Activities
Operating Cash Flow	299.96M	232.23M	252.73M	190.81M	175.23M
Net Income	77.17M	49.41M	72.82M	39.46M	19.25M
Change in Accounts Payable	56.63M	7.57M	-7.89M	5.90M	4.75M
Change in Accounts Receivable	-37.80M	-16.25M	-7.96M	-18.12M	-15.38M
Change in Inventory	-0.71M	0.44M	0.62M	-3.57M	0.86M
Change in Other Net Operating Assets	2.31M	6.63M	-8.44M	12.76M	1.30M
Change in Unearned Revenue	10.06M	1.41M	3.38M	1.85M	-4.09M
Change in Working Capital	30.50M	-0.19M	-20.30M	-1.17M	-12.57M
Other Operating Activities	31.16M	26.59M	29.20M	13.26M	18.70M
Depreciation & Amortization	145.38M	131.71M	135.24M	132.80M	143.63M
Cash Interest Paid	15.23M	11.06M	9.62M	2.34M	4.13M
Cash Income Tax Paid	34.94M	20.38M	20.69M	11.95M	10.08M
Asset Writedown & Restructuring Costs	9.30M	9.34M	24.54M	—	0.14M
Investing Activities
Investing Cash Flow	-234.01M	-89.20M	-157.75M	-92.02M	-83.90M
Capital Expenditures	-150.19M	-98.86M	-92.14M	-80.16M	-74.15M
Investment in Securities	-33.73M	12.80M	-67.86M	-11.64M	-8.75M
Other Investing Activities	9.12M	4.14M	4.21M	3.45M	2.71M
Sale (Purchase) of Intangibles	-62.13M	-11.04M	-4.96M	-4.48M	-3.84M
Sale of Property, Plant & Equipment	2.91M	3.77M	2.99M	0.81M	0.13M
Loss (Gain) From Sale of Assets	-2.49M	-2.21M	-1.61M	-0.56M	0.09M
Loss (Gain) on Sale of Investments	8.96M	17.59M	12.83M	7.02M	5.98M
Financing Activities
Financing Cash Flow	-100.80M	-81.93M	-87.31M	-74.29M	-76.97M
Common Dividends Paid	-45.20M	-70.05M	-35.09M	-17.61M	-7.86M
Long-Term Debt Issued	2.39M	43.00M	6.45M	3.52M	37.58M
Long-Term Debt Repaid	-37.68M	-36.69M	-37.63M	-47.23M	-95.75M
Net Debt Issued (Repaid)	-35.29M	6.31M	-31.19M	-43.71M	-58.17M
Other Financing Activities	-20.30M	-18.19M	-21.03M	-12.97M	-10.94M
Free Cash Flow & Returns
Free Cash Flow	149.78M	133.37M	160.59M	110.65M	101.08M
Free Cash Flow Growth	+12.3%	-16.9%	+45.1%	+9.5%	-12.9%
Free Cash Flow Margin	+19.3%	+18.8%	+24.6%	+17.8%	+16.8%
Free Cash Flow Per Share	0.30	0.27	0.32	0.22	0.20
Levered Free Cash Flow	103.09M	95.23M	126.71M	92.52M	84.63M
Unlevered Free Cash Flow	111.86M	101.62M	132.26M	97.77M	90.79M
Operating Cash Flow Growth	+29.2%	-8.1%	+32.5%	+8.9%	-18.8%
Net Cash Flow	-29.99M	60.33M	6.72M	22.46M	11.36M
Foreign Exchange Rate Adjustments	4.86M	-0.77M	-0.95M	-2.04M	-3.00M