SALHIA REAL ESTATE COMPANY

Salhia Real Estate Co. K.S.C.

SREStocksBoursa KuwaitReal Estate

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	29.87M	24.43M	29.91M	26.89M	10.46M
Free Cash Flow	22.90M	14.09M	15.88M	21.28M	9.30M
Capital Expenditures	-6.97M	-10.34M	-14.02M	-5.61M	-1.17M
Investing & Financing
Investing Cash Flow	-31.11M	-75.70M	-41.30M	-34.21M	-27.26M
Financing Cash Flow	5.90M	58.80M	2.72M	3.40M	17.95M
Dividends Paid	-8.53M	-8.20M	-7.81M	-7.36M	-14.89M
Share Repurchase	-0.50M	-1.19M	-2.87M	-1.94M	-4.10M
Operating Activities
Operating Cash Flow	29.87M	24.43M	29.91M	26.89M	10.46M
Net Income	6.11M	12.62M	16.01M	14.56M	9.35M
Change in Accounts Payable	-1.85M	-2.94M	2.56M	1.87M	2.64M
Change in Accounts Receivable	3.41M	-1.98M	0.25M	3.50M	-3.64M
Change in Inventory	-45.63K	63.78K	-0.79K	107.56K	-110.18K
Change in Working Capital	1.51M	-4.86M	2.81M	5.48M	-1.11M
Other Operating Activities	13.63M	10.82M	7.09M	1.96M	0.01M
Provision & Write-off of Bad Debts	101.19K	—	—	100.00K	79.94K
Depreciation & Amortization	8.52M	8.20M	6.18M	5.45M	3.50M
Cash Interest Paid	11.46M	11.43M	6.36M	2.83M	0.51M
Loss (Gain) on Equity Investments	—	-1.61M	-2.67M	-2.33M	-0.00M
Asset Writedown & Restructuring Costs	—	-0.12M	1.03M	1.67M	—
Investing Activities
Investing Cash Flow	-31.11M	-75.70M	-41.30M	-34.21M	-27.26M
Capital Expenditures	-6.97M	-10.34M	-14.02M	-5.61M	-1.17M
Investment in Securities	—	—	—	—	2.06M
Other Investing Activities	0.10M	14.11M	3.08M	-1.46M	2.04M
Sale (Purchase) of Real Estate	-24.25M	-79.47M	-30.36M	-27.14M	-30.25M
Sale of Property, Plant & Equipment	—	—	1.50K	—	61.77K
Loss (Gain) From Sale of Assets	0.00M	-0.62M	-0.54M	—	-1.36M
Financing Activities
Financing Cash Flow	5.90M	58.80M	2.72M	3.40M	17.95M
Common Dividends Paid	-8.53M	-8.20M	-7.81M	-7.36M	-14.89M
Issuance of Common Stock	—	2.00M	4.48M	1.16M	2.47M
Repurchase of Common Stock	-0.50M	-1.19M	-2.87M	-1.94M	-4.10M
Long-Term Debt Issued	50.05M	111.39M	33.66M	36.90M	45.51M
Long-Term Debt Repaid	-23.65M	-33.76M	-18.39M	-22.52M	-10.52M
Net Debt Issued (Repaid)	26.39M	77.63M	15.28M	14.38M	34.98M
Other Financing Activities	-11.46M	-11.43M	-6.36M	-2.83M	-0.51M
Free Cash Flow & Returns
Free Cash Flow	22.90M	14.09M	15.88M	21.28M	9.30M
Free Cash Flow Growth	+62.6%	-11.3%	-25.4%	+128.9%	-45.5%
Free Cash Flow Margin	+49.1%	+31.5%	+39.1%	+59.2%	+44.1%
Free Cash Flow Per Share	0.04	0.02	0.03	0.04	0.02
Levered Free Cash Flow	7.14M	13.77M	-15.56M	13.49M	9.02M
Unlevered Free Cash Flow	15.93M	22.69M	-15.56M	15.26M	9.34M
Operating Cash Flow Growth	+22.3%	-18.3%	+11.2%	+157.0%	-40.6%
Net Cash Flow	4.95M	6.48M	-7.78M	-3.23M	2.95M
Foreign Exchange Rate Adjustments	0.30M	-1.04M	0.89M	0.68M	1.80M

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	29.87M	24.43M	29.91M	26.89M	10.46M
Free Cash Flow	22.90M	14.09M	15.88M	21.28M	9.30M
Capital Expenditures	-6.97M	-10.34M	-14.02M	-5.61M	-1.17M
Investing & Financing
Investing Cash Flow	-31.11M	-75.70M	-41.30M	-34.21M	-27.26M
Financing Cash Flow	5.90M	58.80M	2.72M	3.40M	17.95M
Dividends Paid	-8.53M	-8.20M	-7.81M	-7.36M	-14.89M
Share Repurchase	-0.50M	-1.19M	-2.87M	-1.94M	-4.10M
Operating Activities
Operating Cash Flow	29.87M	24.43M	29.91M	26.89M	10.46M
Net Income	6.11M	12.62M	16.01M	14.56M	9.35M
Change in Accounts Payable	-1.85M	-2.94M	2.56M	1.87M	2.64M
Change in Accounts Receivable	3.41M	-1.98M	0.25M	3.50M	-3.64M
Change in Inventory	-45.63K	63.78K	-0.79K	107.56K	-110.18K
Change in Working Capital	1.51M	-4.86M	2.81M	5.48M	-1.11M
Other Operating Activities	13.63M	10.82M	7.09M	1.96M	0.01M
Provision & Write-off of Bad Debts	101.19K	—	—	100.00K	79.94K
Depreciation & Amortization	8.52M	8.20M	6.18M	5.45M	3.50M
Cash Interest Paid	11.46M	11.43M	6.36M	2.83M	0.51M
Loss (Gain) on Equity Investments	—	-1.61M	-2.67M	-2.33M	-0.00M
Asset Writedown & Restructuring Costs	—	-0.12M	1.03M	1.67M	—
Investing Activities
Investing Cash Flow	-31.11M	-75.70M	-41.30M	-34.21M	-27.26M
Capital Expenditures	-6.97M	-10.34M	-14.02M	-5.61M	-1.17M
Investment in Securities	—	—	—	—	2.06M
Other Investing Activities	0.10M	14.11M	3.08M	-1.46M	2.04M
Sale (Purchase) of Real Estate	-24.25M	-79.47M	-30.36M	-27.14M	-30.25M
Sale of Property, Plant & Equipment	—	—	1.50K	—	61.77K
Loss (Gain) From Sale of Assets	0.00M	-0.62M	-0.54M	—	-1.36M
Financing Activities
Financing Cash Flow	5.90M	58.80M	2.72M	3.40M	17.95M
Common Dividends Paid	-8.53M	-8.20M	-7.81M	-7.36M	-14.89M
Issuance of Common Stock	—	2.00M	4.48M	1.16M	2.47M
Repurchase of Common Stock	-0.50M	-1.19M	-2.87M	-1.94M	-4.10M
Long-Term Debt Issued	50.05M	111.39M	33.66M	36.90M	45.51M
Long-Term Debt Repaid	-23.65M	-33.76M	-18.39M	-22.52M	-10.52M
Net Debt Issued (Repaid)	26.39M	77.63M	15.28M	14.38M	34.98M
Other Financing Activities	-11.46M	-11.43M	-6.36M	-2.83M	-0.51M
Free Cash Flow & Returns
Free Cash Flow	22.90M	14.09M	15.88M	21.28M	9.30M
Free Cash Flow Growth	+62.6%	-11.3%	-25.4%	+128.9%	-45.5%
Free Cash Flow Margin	+49.1%	+31.5%	+39.1%	+59.2%	+44.1%
Free Cash Flow Per Share	0.04	0.02	0.03	0.04	0.02
Levered Free Cash Flow	7.14M	13.77M	-15.56M	13.49M	9.02M
Unlevered Free Cash Flow	15.93M	22.69M	-15.56M	15.26M	9.34M
Operating Cash Flow Growth	+22.3%	-18.3%	+11.2%	+157.0%	-40.6%
Net Cash Flow	4.95M	6.48M	-7.78M	-3.23M	2.95M
Foreign Exchange Rate Adjustments	0.30M	-1.04M	0.89M	0.68M	1.80M