SPECIALITIES GROUP HOLDING CO.

Specialties Group Holding Company K.S.C. (Closed)

SPECStocksBoursa KuwaitMaterials

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
Operations
Operating Cash Flow	3.37M	1.56M	2.85M	2.23M	-1.55M
Free Cash Flow	2.47M	1.33M	0.44M	-4.68M	-2.97M
Capital Expenditures	-0.90M	-0.23M	-2.41M	-6.90M	-1.42M
Investing & Financing
Investing Cash Flow	-1.28M	-0.26M	-2.54M	-5.47M	-2.90M
Financing Cash Flow	-1.98M	-1.70M	-1.77M	4.84M	1.27M
Dividends Paid	-0.36M	-0.82M	-1.19M	-1.05M	—
Operating Activities
Operating Cash Flow	3.37M	1.56M	2.85M	2.23M	-1.55M
Net Income	2.20M	1.61M	2.01M	2.06M	1.26M
Change in Accounts Payable	2.62M	-0.92M	-0.56M	-0.96M	-2.88M
Change in Accounts Receivable	-3.41M	-1.31M	-0.45M	2.36M	-1.94M
Change in Inventory	0.11M	0.35M	1.32M	-1.70M	0.33M
Change in Other Net Operating Assets	—	0.36M	0.03M	1.59M	0.16M
Change in Working Capital	-0.68M	-1.51M	0.34M	1.28M	-4.33M
Other Operating Activities	0.10M	0.28M	-0.28M	1.45M	0.03M
Provision & Write-off of Bad Debts	364.55K	935.87K	-53.75K	-297.81K	92.84K
Depreciation & Amortization	1.35M	1.20M	0.85M	0.32M	1.34M
Miscellaneous Cash Flow Adjustments	—	—	—	—	—
Loss (Gain) on Equity Investments	—	—	97.15K	108.61K	140.88K
Asset Writedown & Restructuring Costs	0.02M	-0.88M	—	-4.78M	—
Investing Activities
Investing Cash Flow	-1.28M	-0.26M	-2.54M	-5.47M	-2.90M
Capital Expenditures	-0.90M	-0.23M	-2.41M	-6.90M	-1.42M
Cash Acquisitions	—	-0.30M	—	—	—
Divestitures	—	16.16K	—	—	—
Investment in Securities	0.40M	0.55M	-0.27M	-0.31M	-1.50M
Other Investing Activities	322.93K	89.09K	135.67K	895.98K	26.68K
Sale (Purchase) of Intangibles	-94.43K	-351.68K	—	630.00K	—
Sale (Purchase) of Real Estate	-1.02M	-0.04M	—	—	—
Sale of Property, Plant & Equipment	7.75K	—	—	220.00K	—
Loss (Gain) From Sale of Assets	-2.75K	—	—	-691.17K	—
Loss (Gain) on Sale of Investments	0.02M	-0.08M	-0.11M	2.78M	-0.08M
Financing Activities
Financing Cash Flow	-1.98M	-1.70M	-1.77M	4.84M	1.27M
Common Dividends Paid	-0.36M	-0.82M	-1.19M	-1.05M	—
Short-Term Debt Issued	—	—	—	5.98M	1.27M
Total Debt Issued	—	—	—	5.98M	1.27M
Long-Term Debt Repaid	-1.63M	-0.89M	-0.33M	—	—
Short-Term Debt Repaid	—	—	-237.33K	—	—
Total Debt Repaid	-1.63M	-0.89M	-0.57M	—	—
Net Debt Issued (Repaid)	-1.63M	-0.89M	-0.57M	5.98M	1.27M
Other Financing Activities	—	—	—	-88.89K	—
Free Cash Flow & Returns
Free Cash Flow	2.47M	1.33M	0.44M	-4.68M	-2.97M
Free Cash Flow Growth	+85.6%	+201.5%	—	—	—
Free Cash Flow Margin	+10.4%	+9.3%	+3.3%	-45.3%	-14.0%
Free Cash Flow Per Share	0.01	0.01	0.00	-0.03	-0.02
Levered Free Cash Flow	-0.56M	0.37M	1.49M	-3.15M	-5.01M
Unlevered Free Cash Flow	-0.47M	0.47M	1.49M	-3.15M	-5.01M
Operating Cash Flow Growth	+116.3%	-45.3%	+27.9%	—	—
Net Cash Flow	0.08M	-0.41M	-1.47M	1.62M	-3.19M
Foreign Exchange Rate Adjustments	-27.88K	4.91K	-5.66K	22.38K	-15.73K

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
Operations
Operating Cash Flow	3.37M	1.56M	2.85M	2.23M	-1.55M
Free Cash Flow	2.47M	1.33M	0.44M	-4.68M	-2.97M
Capital Expenditures	-0.90M	-0.23M	-2.41M	-6.90M	-1.42M
Investing & Financing
Investing Cash Flow	-1.28M	-0.26M	-2.54M	-5.47M	-2.90M
Financing Cash Flow	-1.98M	-1.70M	-1.77M	4.84M	1.27M
Dividends Paid	-0.36M	-0.82M	-1.19M	-1.05M	—
Operating Activities
Operating Cash Flow	3.37M	1.56M	2.85M	2.23M	-1.55M
Net Income	2.20M	1.61M	2.01M	2.06M	1.26M
Change in Accounts Payable	2.62M	-0.92M	-0.56M	-0.96M	-2.88M
Change in Accounts Receivable	-3.41M	-1.31M	-0.45M	2.36M	-1.94M
Change in Inventory	0.11M	0.35M	1.32M	-1.70M	0.33M
Change in Other Net Operating Assets	—	0.36M	0.03M	1.59M	0.16M
Change in Working Capital	-0.68M	-1.51M	0.34M	1.28M	-4.33M
Other Operating Activities	0.10M	0.28M	-0.28M	1.45M	0.03M
Provision & Write-off of Bad Debts	364.55K	935.87K	-53.75K	-297.81K	92.84K
Depreciation & Amortization	1.35M	1.20M	0.85M	0.32M	1.34M
Miscellaneous Cash Flow Adjustments	—	—	—	—	—
Loss (Gain) on Equity Investments	—	—	97.15K	108.61K	140.88K
Asset Writedown & Restructuring Costs	0.02M	-0.88M	—	-4.78M	—
Investing Activities
Investing Cash Flow	-1.28M	-0.26M	-2.54M	-5.47M	-2.90M
Capital Expenditures	-0.90M	-0.23M	-2.41M	-6.90M	-1.42M
Cash Acquisitions	—	-0.30M	—	—	—
Divestitures	—	16.16K	—	—	—
Investment in Securities	0.40M	0.55M	-0.27M	-0.31M	-1.50M
Other Investing Activities	322.93K	89.09K	135.67K	895.98K	26.68K
Sale (Purchase) of Intangibles	-94.43K	-351.68K	—	630.00K	—
Sale (Purchase) of Real Estate	-1.02M	-0.04M	—	—	—
Sale of Property, Plant & Equipment	7.75K	—	—	220.00K	—
Loss (Gain) From Sale of Assets	-2.75K	—	—	-691.17K	—
Loss (Gain) on Sale of Investments	0.02M	-0.08M	-0.11M	2.78M	-0.08M
Financing Activities
Financing Cash Flow	-1.98M	-1.70M	-1.77M	4.84M	1.27M
Common Dividends Paid	-0.36M	-0.82M	-1.19M	-1.05M	—
Short-Term Debt Issued	—	—	—	5.98M	1.27M
Total Debt Issued	—	—	—	5.98M	1.27M
Long-Term Debt Repaid	-1.63M	-0.89M	-0.33M	—	—
Short-Term Debt Repaid	—	—	-237.33K	—	—
Total Debt Repaid	-1.63M	-0.89M	-0.57M	—	—
Net Debt Issued (Repaid)	-1.63M	-0.89M	-0.57M	5.98M	1.27M
Other Financing Activities	—	—	—	-88.89K	—
Free Cash Flow & Returns
Free Cash Flow	2.47M	1.33M	0.44M	-4.68M	-2.97M
Free Cash Flow Growth	+85.6%	+201.5%	—	—	—
Free Cash Flow Margin	+10.4%	+9.3%	+3.3%	-45.3%	-14.0%
Free Cash Flow Per Share	0.01	0.01	0.00	-0.03	-0.02
Levered Free Cash Flow	-0.56M	0.37M	1.49M	-3.15M	-5.01M
Unlevered Free Cash Flow	-0.47M	0.47M	1.49M	-3.15M	-5.01M
Operating Cash Flow Growth	+116.3%	-45.3%	+27.9%	—	—
Net Cash Flow	0.08M	-0.41M	-1.47M	1.62M	-3.19M
Foreign Exchange Rate Adjustments	-27.88K	4.91K	-5.66K	22.38K	-15.73K