PALMS AGRO PRODUCTION CO.

Palms Agro Production Co. KSCC

PAPCOStocksBoursa KuwaitIndustrials

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
Operating Summary
Revenue	9.61M	8.46M	4.30M	3.39M	3.41M
Cost of Revenue	7.65M	6.41M	2.49M	1.69M	2.61M
Gross Profit	1.96M	2.06M	1.80M	1.69M	0.80M
SG&A	1.73M	1.83M	1.86M	1.86M	1.59M
Operating Expenses	1.91M	1.87M	1.90M	1.86M	1.59M
Operating Income	45.95K	187.61K	-97.74K	-165.53K	-787.17K
Interest Income	41.35K	50.34K	65.21K	10.46K	4.55K
Interest Expense	-24.34K	-8.04K	-4.60K	-6.74K	—
Other Income/Expense	-9.21K	-5.44K	—	—	-201.82K
Pretax Income	0.98M	0.50M	0.20M	0.30M	-1.27M
Income Tax	12.50K	4.82K	0.93K	—	—
Net Income	0.97M	0.50M	0.20M	0.30M	-1.27M
EBITDA	340.23K	514.74K	177.14K	49.01K	-603.53K
EBIT	45.95K	187.61K	-97.74K	-165.53K	-787.17K
EPS (Basic)	0.02	0.01	0.00	0.01	-0.02
EPS (Diluted)	0.02	0.01	0.00	0.01	-0.02
DPS	—	0.01	0.00	—	—
Margins & Efficiency
Gross Margin %	+20.4%	+24.3%	+42.0%	+49.9%	+23.4%
EBITDA Margin %	+3.5%	+6.1%	+4.1%	+1.4%	-17.7%
Net Margin %	+10.1%	+5.9%	+4.7%	+8.8%	-37.2%
Revenue & Income
Revenue	9.61M	8.46M	4.30M	3.39M	3.41M
Revenue Growth (YoY)	+13.6%	+96.9%	+27.0%	-0.7%	-0.3%
Interest & Investment Income	41.35K	50.34K	65.21K	10.46K	4.55K
Earnings From Equity Investments	275.07K	118.60K	141.12K	84.11K	51.19K
Gain (Loss) on Sale of Assets	223.73K	102.62K	1.70K	31.45K	16.00K
Gain (Loss) on Sale of Investments	16.08K	56.89K	96.49K	-14.15K	6.73K
Expenses & Provisions
Cost of Revenue	7.65M	6.41M	2.49M	1.69M	2.61M
Selling, General & Admin	1.73M	1.83M	1.86M	1.86M	1.59M
Operating Expenses	1.91M	1.87M	1.90M	1.86M	1.59M
Other Operating Expenses	30.00K	12.04K	2.32K	—	—
Interest Expense	-24.34K	-8.04K	-4.60K	-6.74K	—
Other Non Operating Income (Expenses)	-9.21K	-5.44K	—	—	-201.82K
Legal Settlements	415.08K	—	—	358.00K	-358.00K
D&A For EBITDA	294.28K	327.13K	274.88K	214.54K	183.65K
Profitability & Returns
Gross Profit	1.96M	2.06M	1.80M	1.69M	0.80M
Gross Margin	+20.4%	+24.3%	+42.0%	+49.9%	+23.4%
EBIT	45.95K	187.61K	-97.74K	-165.53K	-787.17K
EBIT Margin	+0.5%	+2.2%	-2.3%	-4.9%	-23.1%
EBITDA	340.23K	514.74K	177.14K	49.01K	-603.53K
EBITDA Margin	+3.5%	+6.1%	+4.1%	+1.4%	-17.7%
EBT Excluding Unusual Items	328.82K	343.07K	103.99K	-77.70K	-933.25K
Pretax Income	0.98M	0.50M	0.20M	0.30M	-1.27M
Operating Income	45.95K	187.61K	-97.74K	-165.53K	-787.17K
Operating Margin	+0.5%	+2.2%	-2.3%	-4.9%	-23.1%
Profit Margin	+10.1%	+5.9%	+4.7%	+8.8%	-37.2%
Net Income	0.97M	0.50M	0.20M	0.30M	-1.27M
Net Income to Common	0.97M	0.50M	0.20M	0.30M	-1.27M
Net Income Growth	+95.1%	+147.3%	-32.4%	—	—
Income Tax Expense	12.50K	4.82K	0.93K	—	—
Effective Tax Rate	+1.3%	+1.0%	+0.5%	—	—
Per Share & Capital
EPS (Basic)	0.02	0.01	0.00	0.01	-0.02
EPS (Diluted)	0.02	0.01	0.00	0.01	-0.02
EPS Growth	+95.1%	+147.4%	-32.4%	—	—
Dividend Per Share	—	0.01	0.00	—	—
Shares Outstanding (Basic)	52.32M	52.32M	52.32M	52.32M	52.32M
Shares Outstanding (Diluted)	52.32M	52.32M	52.32M	52.32M	52.32M
Dividend Growth	—	+50.0%	—	—	—
Free Cash Flow	-1.61M	0.06M	-0.46M	0.05M	-0.26M
Free Cash Flow Margin	-16.7%	+0.7%	-10.7%	+1.3%	-7.7%
Free Cash Flow Per Share	-0.03	0.00	-0.01	0.00	-0.01
Payout Ratio	+30.8%	+40.4%	+1.2%	+0.8%	—

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
Operating Summary
Revenue	9.61M	8.46M	4.30M	3.39M	3.41M
Cost of Revenue	7.65M	6.41M	2.49M	1.69M	2.61M
Gross Profit	1.96M	2.06M	1.80M	1.69M	0.80M
SG&A	1.73M	1.83M	1.86M	1.86M	1.59M
Operating Expenses	1.91M	1.87M	1.90M	1.86M	1.59M
Operating Income	45.95K	187.61K	-97.74K	-165.53K	-787.17K
Interest Income	41.35K	50.34K	65.21K	10.46K	4.55K
Interest Expense	-24.34K	-8.04K	-4.60K	-6.74K	—
Other Income/Expense	-9.21K	-5.44K	—	—	-201.82K
Pretax Income	0.98M	0.50M	0.20M	0.30M	-1.27M
Income Tax	12.50K	4.82K	0.93K	—	—
Net Income	0.97M	0.50M	0.20M	0.30M	-1.27M
EBITDA	340.23K	514.74K	177.14K	49.01K	-603.53K
EBIT	45.95K	187.61K	-97.74K	-165.53K	-787.17K
EPS (Basic)	0.02	0.01	0.00	0.01	-0.02
EPS (Diluted)	0.02	0.01	0.00	0.01	-0.02
DPS	—	0.01	0.00	—	—
Margins & Efficiency
Gross Margin %	+20.4%	+24.3%	+42.0%	+49.9%	+23.4%
EBITDA Margin %	+3.5%	+6.1%	+4.1%	+1.4%	-17.7%
Net Margin %	+10.1%	+5.9%	+4.7%	+8.8%	-37.2%
Revenue & Income
Revenue	9.61M	8.46M	4.30M	3.39M	3.41M
Revenue Growth (YoY)	+13.6%	+96.9%	+27.0%	-0.7%	-0.3%
Interest & Investment Income	41.35K	50.34K	65.21K	10.46K	4.55K
Earnings From Equity Investments	275.07K	118.60K	141.12K	84.11K	51.19K
Gain (Loss) on Sale of Assets	223.73K	102.62K	1.70K	31.45K	16.00K
Gain (Loss) on Sale of Investments	16.08K	56.89K	96.49K	-14.15K	6.73K
Expenses & Provisions
Cost of Revenue	7.65M	6.41M	2.49M	1.69M	2.61M
Selling, General & Admin	1.73M	1.83M	1.86M	1.86M	1.59M
Operating Expenses	1.91M	1.87M	1.90M	1.86M	1.59M
Other Operating Expenses	30.00K	12.04K	2.32K	—	—
Interest Expense	-24.34K	-8.04K	-4.60K	-6.74K	—
Other Non Operating Income (Expenses)	-9.21K	-5.44K	—	—	-201.82K
Legal Settlements	415.08K	—	—	358.00K	-358.00K
D&A For EBITDA	294.28K	327.13K	274.88K	214.54K	183.65K
Profitability & Returns
Gross Profit	1.96M	2.06M	1.80M	1.69M	0.80M
Gross Margin	+20.4%	+24.3%	+42.0%	+49.9%	+23.4%
EBIT	45.95K	187.61K	-97.74K	-165.53K	-787.17K
EBIT Margin	+0.5%	+2.2%	-2.3%	-4.9%	-23.1%
EBITDA	340.23K	514.74K	177.14K	49.01K	-603.53K
EBITDA Margin	+3.5%	+6.1%	+4.1%	+1.4%	-17.7%
EBT Excluding Unusual Items	328.82K	343.07K	103.99K	-77.70K	-933.25K
Pretax Income	0.98M	0.50M	0.20M	0.30M	-1.27M
Operating Income	45.95K	187.61K	-97.74K	-165.53K	-787.17K
Operating Margin	+0.5%	+2.2%	-2.3%	-4.9%	-23.1%
Profit Margin	+10.1%	+5.9%	+4.7%	+8.8%	-37.2%
Net Income	0.97M	0.50M	0.20M	0.30M	-1.27M
Net Income to Common	0.97M	0.50M	0.20M	0.30M	-1.27M
Net Income Growth	+95.1%	+147.3%	-32.4%	—	—
Income Tax Expense	12.50K	4.82K	0.93K	—	—
Effective Tax Rate	+1.3%	+1.0%	+0.5%	—	—
Per Share & Capital
EPS (Basic)	0.02	0.01	0.00	0.01	-0.02
EPS (Diluted)	0.02	0.01	0.00	0.01	-0.02
EPS Growth	+95.1%	+147.4%	-32.4%	—	—
Dividend Per Share	—	0.01	0.00	—	—
Shares Outstanding (Basic)	52.32M	52.32M	52.32M	52.32M	52.32M
Shares Outstanding (Diluted)	52.32M	52.32M	52.32M	52.32M	52.32M
Dividend Growth	—	+50.0%	—	—	—
Free Cash Flow	-1.61M	0.06M	-0.46M	0.05M	-0.26M
Free Cash Flow Margin	-16.7%	+0.7%	-10.7%	+1.3%	-7.7%
Free Cash Flow Per Share	-0.03	0.00	-0.01	0.00	-0.01
Payout Ratio	+30.8%	+40.4%	+1.2%	+0.8%	—