VALMORE

Valmore Holding

VALMOREStocksBoursa KuwaitDiversified Financials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

USD KWD

Annual (USD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	83.61M	32.63M	327.74M	254.99M	171.27M
Free Cash Flow	38.59M	-39.12M	195.49M	152.73M	66.31M
Capital Expenditures	-45.02M	-71.75M	-132.25M	-102.26M	-104.96M
Investing & Financing
Investing Cash Flow	65.61M	49.03M	-29.98M	239.78M	-328.09M
Financing Cash Flow	24.98M	-145.64M	-328.79M	-323.96M	56.46M
Dividends Paid	-39.12M	-93.22M	-174.97M	-138.12M	-23.54M
Share Repurchase	-7.35M	-14.51M	-7.89M	-0.74M	—
Operating Activities
Operating Cash Flow	83.61M	32.63M	327.74M	254.99M	171.27M
Net Income	133.28M	127.10M	179.18M	241.06M	140.78M
Change in Accounts Payable	-12.66M	-36.93M	63.51M	15.69M	-3.65M
Change in Accounts Receivable	-25.41M	15.62M	-43.14M	-73.70M	-61.28M
Change in Inventory	6.57M	5.17M	-10.63M	-32.58M	-15.02M
Change in Other Net Operating Assets	-39.98M	-26.44M	-7.19M	-97.37M	-19.24M
Change in Working Capital	-70.12M	-39.14M	24.25M	-162.36M	-113.95M
Other Operating Activities	43.68M	-69.27M	62.05M	94.63M	96.27M
Provision & Write-off of Bad Debts	-32.41M	-0.25M	-0.87M	3.14M	3.02M
Depreciation & Amortization	48.63M	50.00M	74.98M	58.99M	47.45M
Cash Income Tax Paid	51.71M	41.44M	21.57M	95.53M	33.99M
Miscellaneous Cash Flow Adjustments	-9.64M	—	—	—	—
Loss (Gain) on Equity Investments	-1.96M	-1.44M	-1.88M	-2.16M	-1.50M
Asset Writedown & Restructuring Costs	-0.23M	0.20M	0.28M	5.10M	—
Investing Activities
Investing Cash Flow	65.61M	49.03M	-29.98M	239.78M	-328.09M
Capital Expenditures	-45.02M	-71.75M	-132.25M	-102.26M	-104.96M
Divestitures	72.39M	—	—	—	—
Investment in Securities	22.78M	104.73M	83.32M	328.22M	-228.17M
Other Investing Activities	14.81M	15.09M	18.61M	12.59M	4.00M
Sale of Property, Plant & Equipment	0.65M	0.96M	0.33M	1.23M	1.05M
Loss (Gain) From Sale of Assets	-20.63M	-0.79M	-0.00M	-0.42M	-0.86M
Loss (Gain) on Sale of Investments	-6.64M	-9.95M	-10.25M	17.01M	0.06M
Financing Activities
Financing Cash Flow	24.98M	-145.64M	-328.79M	-323.96M	56.46M
Common Dividends Paid	-39.12M	-93.22M	-174.97M	-138.12M	-23.54M
Issuance of Common Stock	7.79M	9.73M	5.08M	—	8.95M
Repurchase of Common Stock	-7.35M	-14.51M	-7.89M	-0.74M	—
Long-Term Debt Issued	811.89M	515.38M	430.50M	184.40M	234.13M
Total Debt Issued	811.89M	515.38M	430.50M	184.40M	234.13M
Long-Term Debt Repaid	-744.23M	-546.52M	-484.25M	-229.95M	-70.52M
Total Debt Repaid	-744.23M	-546.52M	-484.25M	-229.95M	-70.52M
Net Debt Issued (Repaid)	67.66M	-31.13M	-53.75M	-45.55M	163.61M
Other Financing Activities	-4.01M	-16.51M	-97.26M	-139.55M	-92.57M
Free Cash Flow & Returns
Free Cash Flow	38.59M	-39.12M	195.49M	152.73M	66.31M
Free Cash Flow Growth	—	—	+28.0%	+130.3%	-47.3%
Free Cash Flow Margin	+5.6%	-7.1%	+26.1%	+14.5%	+8.6%
Free Cash Flow Per Share	0.03	-0.03	0.17	0.13	0.06
Levered Free Cash Flow	-33.90M	-14.46M	31.94M	119.81M	185.54M
Unlevered Free Cash Flow	2.43M	24.58M	73.48M	142.89M	201.47M
Operating Cash Flow Growth	+156.2%	-90.0%	+28.5%	+48.9%	-1.3%
Net Cash Flow	171.01M	-127.13M	-60.06M	118.12M	-97.99M
Foreign Exchange Rate Adjustments	6.46M	-63.14M	-29.03M	-52.69M	2.37M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

USD KWD

Annual (USD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	83.61M	32.63M	327.74M	254.99M	171.27M
Free Cash Flow	38.59M	-39.12M	195.49M	152.73M	66.31M
Capital Expenditures	-45.02M	-71.75M	-132.25M	-102.26M	-104.96M
Investing & Financing
Investing Cash Flow	65.61M	49.03M	-29.98M	239.78M	-328.09M
Financing Cash Flow	24.98M	-145.64M	-328.79M	-323.96M	56.46M
Dividends Paid	-39.12M	-93.22M	-174.97M	-138.12M	-23.54M
Share Repurchase	-7.35M	-14.51M	-7.89M	-0.74M	—
Operating Activities
Operating Cash Flow	83.61M	32.63M	327.74M	254.99M	171.27M
Net Income	133.28M	127.10M	179.18M	241.06M	140.78M
Change in Accounts Payable	-12.66M	-36.93M	63.51M	15.69M	-3.65M
Change in Accounts Receivable	-25.41M	15.62M	-43.14M	-73.70M	-61.28M
Change in Inventory	6.57M	5.17M	-10.63M	-32.58M	-15.02M
Change in Other Net Operating Assets	-39.98M	-26.44M	-7.19M	-97.37M	-19.24M
Change in Working Capital	-70.12M	-39.14M	24.25M	-162.36M	-113.95M
Other Operating Activities	43.68M	-69.27M	62.05M	94.63M	96.27M
Provision & Write-off of Bad Debts	-32.41M	-0.25M	-0.87M	3.14M	3.02M
Depreciation & Amortization	48.63M	50.00M	74.98M	58.99M	47.45M
Cash Income Tax Paid	51.71M	41.44M	21.57M	95.53M	33.99M
Miscellaneous Cash Flow Adjustments	-9.64M	—	—	—	—
Loss (Gain) on Equity Investments	-1.96M	-1.44M	-1.88M	-2.16M	-1.50M
Asset Writedown & Restructuring Costs	-0.23M	0.20M	0.28M	5.10M	—
Investing Activities
Investing Cash Flow	65.61M	49.03M	-29.98M	239.78M	-328.09M
Capital Expenditures	-45.02M	-71.75M	-132.25M	-102.26M	-104.96M
Divestitures	72.39M	—	—	—	—
Investment in Securities	22.78M	104.73M	83.32M	328.22M	-228.17M
Other Investing Activities	14.81M	15.09M	18.61M	12.59M	4.00M
Sale of Property, Plant & Equipment	0.65M	0.96M	0.33M	1.23M	1.05M
Loss (Gain) From Sale of Assets	-20.63M	-0.79M	-0.00M	-0.42M	-0.86M
Loss (Gain) on Sale of Investments	-6.64M	-9.95M	-10.25M	17.01M	0.06M
Financing Activities
Financing Cash Flow	24.98M	-145.64M	-328.79M	-323.96M	56.46M
Common Dividends Paid	-39.12M	-93.22M	-174.97M	-138.12M	-23.54M
Issuance of Common Stock	7.79M	9.73M	5.08M	—	8.95M
Repurchase of Common Stock	-7.35M	-14.51M	-7.89M	-0.74M	—
Long-Term Debt Issued	811.89M	515.38M	430.50M	184.40M	234.13M
Total Debt Issued	811.89M	515.38M	430.50M	184.40M	234.13M
Long-Term Debt Repaid	-744.23M	-546.52M	-484.25M	-229.95M	-70.52M
Total Debt Repaid	-744.23M	-546.52M	-484.25M	-229.95M	-70.52M
Net Debt Issued (Repaid)	67.66M	-31.13M	-53.75M	-45.55M	163.61M
Other Financing Activities	-4.01M	-16.51M	-97.26M	-139.55M	-92.57M
Free Cash Flow & Returns
Free Cash Flow	38.59M	-39.12M	195.49M	152.73M	66.31M
Free Cash Flow Growth	—	—	+28.0%	+130.3%	-47.3%
Free Cash Flow Margin	+5.6%	-7.1%	+26.1%	+14.5%	+8.6%
Free Cash Flow Per Share	0.03	-0.03	0.17	0.13	0.06
Levered Free Cash Flow	-33.90M	-14.46M	31.94M	119.81M	185.54M
Unlevered Free Cash Flow	2.43M	24.58M	73.48M	142.89M	201.47M
Operating Cash Flow Growth	+156.2%	-90.0%	+28.5%	+48.9%	-1.3%
Net Cash Flow	171.01M	-127.13M	-60.06M	118.12M	-97.99M
Foreign Exchange Rate Adjustments	6.46M	-63.14M	-29.03M	-52.69M	2.37M