Tamdeen Real Estate Company

Tamdeen Real Estate Co. K.S.C.C.

TAMStocksBoursa KuwaitReal Estate

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
Operating Summary
Revenue	51.65M	46.26M	45.75M	42.68M	34.44M
Interest Expense	-8.35M	-7.58M	-8.30M	-6.74M	-6.76M
Pretax Income	29.30M	22.04M	22.49M	21.67M	13.78M
Income Tax	1.05M	0.18M	0.17M	0.23M	0.14M
Net Income	20.36M	15.45M	15.71M	15.05M	11.39M
Rental Revenue	27.58M	25.66M	23.96M	23.67M	21.54M
Property Expenses	7.56M	8.17M	6.48M	6.30M	6.32M
Operating Income	35.81M	28.55M	29.92M	26.33M	19.55M
EPS (Basic)	0.05	0.04	0.04	0.04	0.03
EPS (Diluted)	0.05	0.04	0.04	0.04	0.03
DPS	—	0.02	0.02	0.01	0.01
Margins & Efficiency
Net Margin %	+39.4%	+33.4%	+34.3%	+35.3%	+33.1%
Revenue & Income
Revenue Growth (YoY)	+11.6%	+1.1%	+7.2%	+23.9%	+213.6%
Revenue RE	51.65M	46.26M	45.75M	42.68M	34.44M
Rental Revenue	27.58M	25.66M	23.96M	23.67M	21.54M
Other Revenue RE	16.96M	13.46M	13.07M	10.90M	7.93M
Gain Assets RE	—	—	860.00K	—	—
Gain Assets Rev Real Estate	0.06M	0.33M	0.65M	0.45M	1.04M
Currency Exchange Gain (Loss)	—	-6.00K	13.00K	238.00K	-96.00K
Expenses & Provisions
SG&A RE	5.15M	5.55M	5.93M	6.51M	5.27M
Total Operating Expenses RE	15.84M	17.72M	15.83M	16.35M	14.88M
Interest Expense RE	-8.35M	-7.58M	-8.30M	-6.74M	-6.76M
Other Non Oper Exp Suppl RE	—	-82.00K	-81.00K	-107.00K	-84.00K
Property Expenses	7.56M	8.17M	6.48M	6.30M	6.32M
Legal Settlements RE	—	—	—	—	1.47M
Asset Writedown	1.83M	1.15M	0.07M	1.95M	-0.30M
D&A For EBITDA	1.93M	1.77M	1.98M	2.25M	1.82M
Profitability & Returns
EBIT	35.81M	28.55M	29.92M	26.33M	19.55M
EBIT Margin	+69.3%	+61.7%	+65.4%	+61.7%	+56.8%
EBITDA	37.74M	30.32M	31.91M	28.57M	21.37M
EBITDA Margin	+73.1%	+65.5%	+69.7%	+67.0%	+62.1%
EBT Excl RE	27.47M	20.89M	21.56M	19.72M	12.61M
Pretax Income	29.30M	22.04M	22.49M	21.67M	13.78M
Operating Income RE	35.81M	28.55M	29.92M	26.33M	19.55M
Operating Margin	+69.3%	+61.7%	+65.4%	+61.7%	+56.8%
Profit Margin	+39.4%	+33.4%	+34.3%	+35.3%	+33.1%
Net Income	20.36M	15.45M	15.71M	15.05M	11.39M
Net Income to Common	20.36M	15.45M	15.71M	15.05M	11.39M
Net Income Growth	+31.8%	-1.6%	+4.4%	+32.1%	—
Earnings From Continuing Ops.	28.25M	21.86M	22.32M	21.44M	13.64M
Minority Interest in Earnings	-7.90M	-6.41M	-6.61M	-6.39M	-2.24M
Income Tax Expense	1.05M	0.18M	0.17M	0.23M	0.14M
Effective Tax Rate	+3.6%	+0.8%	+0.8%	+1.0%	+1.0%
Net Interest Expense RE	-8.35M	-7.58M	-8.30M	-6.74M	-6.76M
Per Share & Capital
EPS (Basic)	0.05	0.04	0.04	0.04	0.03
EPS (Diluted)	0.05	0.04	0.04	0.04	0.03
EPS Growth	+31.8%	-1.6%	+4.4%	+32.1%	—
Dividend Per Share	—	0.02	0.02	0.01	0.01
Shares Change (YoY)	0	—	-0	-0	-0
Shares Outstanding (Basic)	401.52M	401.50M	401.50M	401.53M	401.66M
Shares Outstanding (Diluted)	401.52M	401.50M	401.50M	401.53M	401.66M
Dividend Growth	—	—	+50.0%	+20.0%	—
Payout Ratio	+35.7%	+50.4%	+30.6%	+39.2%	+0.6%
Supplemental
Other Operating Expenses RE	3.14M	4.00M	3.42M	3.54M	3.29M
Property Management Fees	1.08M	1.01M	0.98M	0.87M	0.71M

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
Operating Summary
Revenue	51.65M	46.26M	45.75M	42.68M	34.44M
Interest Expense	-8.35M	-7.58M	-8.30M	-6.74M	-6.76M
Pretax Income	29.30M	22.04M	22.49M	21.67M	13.78M
Income Tax	1.05M	0.18M	0.17M	0.23M	0.14M
Net Income	20.36M	15.45M	15.71M	15.05M	11.39M
Rental Revenue	27.58M	25.66M	23.96M	23.67M	21.54M
Property Expenses	7.56M	8.17M	6.48M	6.30M	6.32M
Operating Income	35.81M	28.55M	29.92M	26.33M	19.55M
EPS (Basic)	0.05	0.04	0.04	0.04	0.03
EPS (Diluted)	0.05	0.04	0.04	0.04	0.03
DPS	—	0.02	0.02	0.01	0.01
Margins & Efficiency
Net Margin %	+39.4%	+33.4%	+34.3%	+35.3%	+33.1%
Revenue & Income
Revenue Growth (YoY)	+11.6%	+1.1%	+7.2%	+23.9%	+213.6%
Revenue RE	51.65M	46.26M	45.75M	42.68M	34.44M
Rental Revenue	27.58M	25.66M	23.96M	23.67M	21.54M
Other Revenue RE	16.96M	13.46M	13.07M	10.90M	7.93M
Gain Assets RE	—	—	860.00K	—	—
Gain Assets Rev Real Estate	0.06M	0.33M	0.65M	0.45M	1.04M
Currency Exchange Gain (Loss)	—	-6.00K	13.00K	238.00K	-96.00K
Expenses & Provisions
SG&A RE	5.15M	5.55M	5.93M	6.51M	5.27M
Total Operating Expenses RE	15.84M	17.72M	15.83M	16.35M	14.88M
Interest Expense RE	-8.35M	-7.58M	-8.30M	-6.74M	-6.76M
Other Non Oper Exp Suppl RE	—	-82.00K	-81.00K	-107.00K	-84.00K
Property Expenses	7.56M	8.17M	6.48M	6.30M	6.32M
Legal Settlements RE	—	—	—	—	1.47M
Asset Writedown	1.83M	1.15M	0.07M	1.95M	-0.30M
D&A For EBITDA	1.93M	1.77M	1.98M	2.25M	1.82M
Profitability & Returns
EBIT	35.81M	28.55M	29.92M	26.33M	19.55M
EBIT Margin	+69.3%	+61.7%	+65.4%	+61.7%	+56.8%
EBITDA	37.74M	30.32M	31.91M	28.57M	21.37M
EBITDA Margin	+73.1%	+65.5%	+69.7%	+67.0%	+62.1%
EBT Excl RE	27.47M	20.89M	21.56M	19.72M	12.61M
Pretax Income	29.30M	22.04M	22.49M	21.67M	13.78M
Operating Income RE	35.81M	28.55M	29.92M	26.33M	19.55M
Operating Margin	+69.3%	+61.7%	+65.4%	+61.7%	+56.8%
Profit Margin	+39.4%	+33.4%	+34.3%	+35.3%	+33.1%
Net Income	20.36M	15.45M	15.71M	15.05M	11.39M
Net Income to Common	20.36M	15.45M	15.71M	15.05M	11.39M
Net Income Growth	+31.8%	-1.6%	+4.4%	+32.1%	—
Earnings From Continuing Ops.	28.25M	21.86M	22.32M	21.44M	13.64M
Minority Interest in Earnings	-7.90M	-6.41M	-6.61M	-6.39M	-2.24M
Income Tax Expense	1.05M	0.18M	0.17M	0.23M	0.14M
Effective Tax Rate	+3.6%	+0.8%	+0.8%	+1.0%	+1.0%
Net Interest Expense RE	-8.35M	-7.58M	-8.30M	-6.74M	-6.76M
Per Share & Capital
EPS (Basic)	0.05	0.04	0.04	0.04	0.03
EPS (Diluted)	0.05	0.04	0.04	0.04	0.03
EPS Growth	+31.8%	-1.6%	+4.4%	+32.1%	—
Dividend Per Share	—	0.02	0.02	0.01	0.01
Shares Change (YoY)	0	—	-0	-0	-0
Shares Outstanding (Basic)	401.52M	401.50M	401.50M	401.53M	401.66M
Shares Outstanding (Diluted)	401.52M	401.50M	401.50M	401.53M	401.66M
Dividend Growth	—	—	+50.0%	+20.0%	—
Payout Ratio	+35.7%	+50.4%	+30.6%	+39.2%	+0.6%
Supplemental
Other Operating Expenses RE	3.14M	4.00M	3.42M	3.54M	3.29M
Property Management Fees	1.08M	1.01M	0.98M	0.87M	0.71M