United Real Estate Company

URCStocksBoursa KuwaitReal Estate

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (KWD)

1-5

	Q1 2026Mar 31, 2026	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025
Operating Summary
Revenue	23.28M	28.18M	26.04M	25.35M	23.70M
Cost of Revenue	14.99M	24.79M	17.41M	15.75M	16.33M
Gross Profit	8.29M	3.38M	8.63M	9.60M	7.37M
SG&A	1.69M	4.17M	1.51M	1.77M	2.19M
Operating Expenses	1.83M	3.94M	2.53M	2.72M	2.19M
Operating Income	6.46M	-0.56M	6.10M	6.88M	5.17M
Interest Income	0.25M	0.75M	0.02M	0.01M	0.16M
Interest Expense	-4.52M	-5.83M	-5.41M	-5.42M	-5.61M
Other Income/Expense	0.03M	0.57M	-0.02M	0.36M	0.04M
Pretax Income	2.23M	1.12M	0.82M	1.81M	3.11M
Income Tax	0.22M	1.55M	0.32M	-0.08M	0.57M
Net Income	2.09M	1.20M	0.48M	2.15M	2.28M
EBITDA	7.64M	0.52M	7.28M	7.85M	6.20M
EBIT	6.46M	-0.56M	6.10M	6.88M	5.17M
EPS (Basic)	0.00	0.00	0.00	0.00	0.00
EPS (Diluted)	0.00	0.00	0.00	0.00	0.00
Margins & Efficiency
Gross Margin %	+35.6%	+12.0%	+33.2%	+37.9%	+31.1%
EBITDA Margin %	+32.8%	+1.8%	+28.0%	+31.0%	+26.1%
Net Margin %	+9.0%	+4.3%	+1.8%	+8.5%	+9.6%
Revenue & Income
Revenue	23.28M	28.18M	26.04M	25.35M	23.70M
Revenue as Reported	23.28M	—	26.04M	25.35M	23.70M
Revenue Growth (YoY)	-1.8%	+4.4%	+20.6%	+25.5%	+18.4%
Operating Revenue	22.16M	27.11M	25.00M	23.75M	23.00M
Interest & Investment Income	0.25M	0.75M	0.02M	0.01M	0.16M
Other Revenue	1.12M	1.07M	1.04M	1.59M	0.70M
Earnings From Equity Investments	-0.23M	0.42M	0.30M	1.00M	2.25M
Gain (Loss) on Sale of Assets	-0.00M	-0.05M	0.00M	0.01M	0.01M
Gain (Loss) on Sale of Investments	—	—	—	—	—
Currency Exchange Gain (Loss)	0.23M	-0.06M	-0.17M	-1.03M	1.09M
Expenses & Provisions
Cost of Revenue	14.99M	24.79M	17.41M	15.75M	16.33M
Selling, General & Admin	1.69M	4.17M	1.51M	1.77M	2.19M
Operating Expenses	1.83M	3.94M	2.53M	2.72M	2.19M
Other Operating Expenses	0.13M	2.58M	0.03M	0.03M	—
Interest Expense	-4.52M	-5.83M	-5.41M	-5.42M	-5.61M
Other Non Operating Income (Expenses)	0.03M	0.57M	-0.02M	0.36M	0.04M
Legal Settlements	—	—	—	—	—
Asset Writedown	—	5.86M	—	—	—
D&A For EBITDA	1.18M	1.08M	1.17M	0.97M	1.02M
Profitability & Returns
Gross Profit	8.29M	3.38M	8.63M	9.60M	7.37M
Gross Margin	+35.6%	+12.0%	+33.2%	+37.9%	+31.1%
EBIT	6.46M	-0.56M	6.10M	6.88M	5.17M
EBIT Margin	+27.8%	-2.0%	+23.4%	+27.2%	+21.8%
EBITDA	7.64M	0.52M	7.28M	7.85M	6.20M
EBITDA Margin	+32.8%	+1.8%	+28.0%	+31.0%	+26.1%
EBT Excluding Unusual Items	2.23M	-4.70M	0.81M	1.80M	3.10M
Pretax Income	2.23M	1.12M	0.82M	1.81M	3.11M
Operating Income	6.46M	-0.56M	6.10M	6.88M	5.17M
Operating Margin	+27.8%	-2.0%	+23.4%	+27.2%	+21.8%
Profit Margin	+9.0%	+4.3%	+1.8%	+8.5%	+9.6%
Net Income	2.09M	1.20M	0.48M	2.15M	2.28M
Net Income to Common	2.09M	1.20M	0.48M	2.15M	2.28M
Net Income Growth	-8.4%	—	-62.9%	+9.7%	+11.3%
Earnings From Continuing Ops.	2.01M	-0.43M	0.50M	1.88M	2.53M
Minority Interest in Earnings	0.08M	1.64M	-0.02M	0.26M	-0.25M
Income Tax Expense	0.22M	1.55M	0.32M	-0.08M	0.57M
Effective Tax Rate	+9.7%	+138.7%	+38.6%	—	+18.4%
Per Share & Capital
EPS (Basic)	0.00	0.00	0.00	0.00	0.00
EPS (Diluted)	0.00	0.00	0.00	0.00	0.00
EPS Growth	-12.8%	—	-64.7%	+9.6%	+11.3%
Shares Change (YoY)	0.05	0.05	0.05	—	—
Shares Outstanding (Basic)	1.37B	1.37B	1.37B	1.30B	1.30B
Shares Outstanding (Diluted)	1.37B	1.37B	1.37B	1.30B	1.30B
Free Cash Flow	7.19M	7.06M	8.49M	6.66M	6.86M
Free Cash Flow Margin	+30.9%	+25.1%	+32.6%	+26.3%	+29.0%
Free Cash Flow Per Share	0.01	0.01	0.01	0.01	0.01
Supplemental
Other Unusual Items	—	—	—	—	—

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (KWD)

1-5

	Q1 2026Mar 31, 2026	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025
Operating Summary
Revenue	23.28M	28.18M	26.04M	25.35M	23.70M
Cost of Revenue	14.99M	24.79M	17.41M	15.75M	16.33M
Gross Profit	8.29M	3.38M	8.63M	9.60M	7.37M
SG&A	1.69M	4.17M	1.51M	1.77M	2.19M
Operating Expenses	1.83M	3.94M	2.53M	2.72M	2.19M
Operating Income	6.46M	-0.56M	6.10M	6.88M	5.17M
Interest Income	0.25M	0.75M	0.02M	0.01M	0.16M
Interest Expense	-4.52M	-5.83M	-5.41M	-5.42M	-5.61M
Other Income/Expense	0.03M	0.57M	-0.02M	0.36M	0.04M
Pretax Income	2.23M	1.12M	0.82M	1.81M	3.11M
Income Tax	0.22M	1.55M	0.32M	-0.08M	0.57M
Net Income	2.09M	1.20M	0.48M	2.15M	2.28M
EBITDA	7.64M	0.52M	7.28M	7.85M	6.20M
EBIT	6.46M	-0.56M	6.10M	6.88M	5.17M
EPS (Basic)	0.00	0.00	0.00	0.00	0.00
EPS (Diluted)	0.00	0.00	0.00	0.00	0.00
Margins & Efficiency
Gross Margin %	+35.6%	+12.0%	+33.2%	+37.9%	+31.1%
EBITDA Margin %	+32.8%	+1.8%	+28.0%	+31.0%	+26.1%
Net Margin %	+9.0%	+4.3%	+1.8%	+8.5%	+9.6%
Revenue & Income
Revenue	23.28M	28.18M	26.04M	25.35M	23.70M
Revenue as Reported	23.28M	—	26.04M	25.35M	23.70M
Revenue Growth (YoY)	-1.8%	+4.4%	+20.6%	+25.5%	+18.4%
Operating Revenue	22.16M	27.11M	25.00M	23.75M	23.00M
Interest & Investment Income	0.25M	0.75M	0.02M	0.01M	0.16M
Other Revenue	1.12M	1.07M	1.04M	1.59M	0.70M
Earnings From Equity Investments	-0.23M	0.42M	0.30M	1.00M	2.25M
Gain (Loss) on Sale of Assets	-0.00M	-0.05M	0.00M	0.01M	0.01M
Gain (Loss) on Sale of Investments	—	—	—	—	—
Currency Exchange Gain (Loss)	0.23M	-0.06M	-0.17M	-1.03M	1.09M
Expenses & Provisions
Cost of Revenue	14.99M	24.79M	17.41M	15.75M	16.33M
Selling, General & Admin	1.69M	4.17M	1.51M	1.77M	2.19M
Operating Expenses	1.83M	3.94M	2.53M	2.72M	2.19M
Other Operating Expenses	0.13M	2.58M	0.03M	0.03M	—
Interest Expense	-4.52M	-5.83M	-5.41M	-5.42M	-5.61M
Other Non Operating Income (Expenses)	0.03M	0.57M	-0.02M	0.36M	0.04M
Legal Settlements	—	—	—	—	—
Asset Writedown	—	5.86M	—	—	—
D&A For EBITDA	1.18M	1.08M	1.17M	0.97M	1.02M
Profitability & Returns
Gross Profit	8.29M	3.38M	8.63M	9.60M	7.37M
Gross Margin	+35.6%	+12.0%	+33.2%	+37.9%	+31.1%
EBIT	6.46M	-0.56M	6.10M	6.88M	5.17M
EBIT Margin	+27.8%	-2.0%	+23.4%	+27.2%	+21.8%
EBITDA	7.64M	0.52M	7.28M	7.85M	6.20M
EBITDA Margin	+32.8%	+1.8%	+28.0%	+31.0%	+26.1%
EBT Excluding Unusual Items	2.23M	-4.70M	0.81M	1.80M	3.10M
Pretax Income	2.23M	1.12M	0.82M	1.81M	3.11M
Operating Income	6.46M	-0.56M	6.10M	6.88M	5.17M
Operating Margin	+27.8%	-2.0%	+23.4%	+27.2%	+21.8%
Profit Margin	+9.0%	+4.3%	+1.8%	+8.5%	+9.6%
Net Income	2.09M	1.20M	0.48M	2.15M	2.28M
Net Income to Common	2.09M	1.20M	0.48M	2.15M	2.28M
Net Income Growth	-8.4%	—	-62.9%	+9.7%	+11.3%
Earnings From Continuing Ops.	2.01M	-0.43M	0.50M	1.88M	2.53M
Minority Interest in Earnings	0.08M	1.64M	-0.02M	0.26M	-0.25M
Income Tax Expense	0.22M	1.55M	0.32M	-0.08M	0.57M
Effective Tax Rate	+9.7%	+138.7%	+38.6%	—	+18.4%
Per Share & Capital
EPS (Basic)	0.00	0.00	0.00	0.00	0.00
EPS (Diluted)	0.00	0.00	0.00	0.00	0.00
EPS Growth	-12.8%	—	-64.7%	+9.6%	+11.3%
Shares Change (YoY)	0.05	0.05	0.05	—	—
Shares Outstanding (Basic)	1.37B	1.37B	1.37B	1.30B	1.30B
Shares Outstanding (Diluted)	1.37B	1.37B	1.37B	1.30B	1.30B
Free Cash Flow	7.19M	7.06M	8.49M	6.66M	6.86M
Free Cash Flow Margin	+30.9%	+25.1%	+32.6%	+26.3%	+29.0%
Free Cash Flow Per Share	0.01	0.01	0.01	0.01	0.01
Supplemental
Other Unusual Items	—	—	—	—	—