TADWEEER

National Environmental Recycling Co.

9540StocksTadawulIndustrials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	—	16.49M	9.80M	3.31M	41.94M
Cash & Short-Term Investments	23.89M	16.49M	9.80M	3.31M	41.94M
Receivables	—	52.88M	54.62M	38.75M	33.08M
Inventory	—	163.41M	96.73M	68.21M	43.45M
Current Assets	—	260.51M	211.35M	133.69M	136.25M
PP&E	—	160.28M	118.50M	82.28M	34.46M
Total Assets	—	420.79M	329.84M	215.96M	170.71M
Liabilities
Accounts Payable	—	1.94M	21.85M	6.91M	6.72M
Current Liabilities	—	151.44M	104.82M	46.01M	23.42M
Long-Term Debt	—	26.74M	19.66M	4.10M	5.84M
Short-Term Debt	—	127.70M	64.46M	16.73M	—
Total Debt	280.26M	169.16M	97.88M	44.93M	17.32M
Total Liabilities	—	182.61M	127.92M	59.49M	32.40M
Equity & Ownership
Retained Earnings	—	57.78M	77.80M	35.55M	17.39M
Total Equity	275.53M	238.19M	201.92M	156.47M	138.31M
Net Debt	256.37M	152.67M	88.08M	41.62M	-24.62M
Shares Outstanding	228,300,714	216,320,000	224,320,000	230,320,000	174,620,920
Cash & Assets
Total Assets	—	420.79M	329.84M	215.96M	170.71M
Total Current Assets	—	260.51M	211.35M	133.69M	136.25M
Cash & Equivalents	—	16.49M	9.80M	3.31M	41.94M
Cash & Short-Term Investments	23.89M	16.49M	9.80M	3.31M	41.94M
Net Cash (Debt)	-256.37M	-152.67M	-88.08M	-41.62M	24.62M
Net Cash Per Share	-1.14	-0.64	-0.36	-0.18	0.14
Cash Growth	+44.8%	+68.2%	+196.2%	-92.1%	+146.9%
Net Cash Growth	—	—	—	—	+339.5%
Accounts Receivable	—	51.82M	53.13M	38.75M	32.96M
Other Receivables	—	1.05M	1.50M	—	—
Receivables	—	52.88M	54.62M	38.75M	33.08M
Inventory	—	163.41M	96.73M	68.21M	43.45M
Prepaid Expenses	—	1.25M	1.09M	3.22M	3.04M
Construction In Progress	—	1.09M	51.94M	28.13M	6.47M
Land	—	27.13M	27.13M	25.26M	—
Buildings	—	49.55M	—	—	—
Machinery	—	92.16M	42.79M	22.24M	27.48M
Leasehold Improvements	—	6.73M	6.46M	4.52M	4.29M
Property, Plant & Equipment	—	160.28M	118.50M	82.28M	34.46M
Other Current Assets	—	26.48M	49.10M	20.20M	14.74M
Long-Term Leases	—	2.33M	1.85M	8.05M	1.99M
Current Portion of Leases	—	1.46M	1.34M	3.12M	1.42M
Liabilities & Obligations
Total Liabilities	—	182.61M	127.92M	59.49M	32.40M
Total Liabilities & Equity	—	420.79M	329.84M	215.96M	170.71M
Total Current Liabilities	—	151.44M	104.82M	46.01M	23.42M
Accounts Payable	—	1.94M	21.85M	6.91M	6.72M
Accrued Expenses	—	4.66M	3.73M	2.74M	4.97M
Current Income Taxes Payable	—	3.05M	2.32M	2.69M	1.66M
Other Current Liabilities	—	1.70M	0.54M	0.89M	0.59M
Pension & Post-Retirement Benefits	—	2.09M	1.60M	1.33M	1.14M
Debt & Funding
Long-Term Debt	—	26.74M	19.66M	4.10M	5.84M
Short-Term Debt	—	127.70M	64.46M	16.73M	—
Total Debt	280.26M	169.16M	97.88M	44.93M	17.32M
Current Portion of Long-Term Debt	—	10.92M	10.57M	12.93M	8.07M
Equity & Book Value
Shareholders' Equity	275.53M	238.19M	201.92M	156.47M	138.31M
Common Stock	—	116.16M	58.08M	58.08M	58.08M
Additional Paid-In Capital	—	67.84M	67.84M	67.84M	67.84M
Retained Earnings	—	57.78M	77.80M	35.55M	17.39M
Treasury Stock	—	-4.00M	-2.00M	-5.00M	-5.00M
Comprehensive Income & Other	—	404.03K	201.73K	—	—
Book Value Per Share	1.22	1.10	0.90	0.68	0.79
Tangible Book Value	275.53M	238.19M	201.92M	156.47M	138.31M
Tangible Book Value Per Share	1.22	1.10	0.90	0.68	0.79
Filing Date Shares Outstanding	228.30M	216.32M	224.32M	230.32M	174.62M
Total Common Shares Outstanding	228.30M	216.32M	224.32M	230.32M	174.62M
Working Capital	—	109.08M	106.53M	87.68M	112.83M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	—	16.49M	9.80M	3.31M	41.94M
Cash & Short-Term Investments	23.89M	16.49M	9.80M	3.31M	41.94M
Receivables	—	52.88M	54.62M	38.75M	33.08M
Inventory	—	163.41M	96.73M	68.21M	43.45M
Current Assets	—	260.51M	211.35M	133.69M	136.25M
PP&E	—	160.28M	118.50M	82.28M	34.46M
Total Assets	—	420.79M	329.84M	215.96M	170.71M
Liabilities
Accounts Payable	—	1.94M	21.85M	6.91M	6.72M
Current Liabilities	—	151.44M	104.82M	46.01M	23.42M
Long-Term Debt	—	26.74M	19.66M	4.10M	5.84M
Short-Term Debt	—	127.70M	64.46M	16.73M	—
Total Debt	280.26M	169.16M	97.88M	44.93M	17.32M
Total Liabilities	—	182.61M	127.92M	59.49M	32.40M
Equity & Ownership
Retained Earnings	—	57.78M	77.80M	35.55M	17.39M
Total Equity	275.53M	238.19M	201.92M	156.47M	138.31M
Net Debt	256.37M	152.67M	88.08M	41.62M	-24.62M
Shares Outstanding	228,300,714	216,320,000	224,320,000	230,320,000	174,620,920
Cash & Assets
Total Assets	—	420.79M	329.84M	215.96M	170.71M
Total Current Assets	—	260.51M	211.35M	133.69M	136.25M
Cash & Equivalents	—	16.49M	9.80M	3.31M	41.94M
Cash & Short-Term Investments	23.89M	16.49M	9.80M	3.31M	41.94M
Net Cash (Debt)	-256.37M	-152.67M	-88.08M	-41.62M	24.62M
Net Cash Per Share	-1.14	-0.64	-0.36	-0.18	0.14
Cash Growth	+44.8%	+68.2%	+196.2%	-92.1%	+146.9%
Net Cash Growth	—	—	—	—	+339.5%
Accounts Receivable	—	51.82M	53.13M	38.75M	32.96M
Other Receivables	—	1.05M	1.50M	—	—
Receivables	—	52.88M	54.62M	38.75M	33.08M
Inventory	—	163.41M	96.73M	68.21M	43.45M
Prepaid Expenses	—	1.25M	1.09M	3.22M	3.04M
Construction In Progress	—	1.09M	51.94M	28.13M	6.47M
Land	—	27.13M	27.13M	25.26M	—
Buildings	—	49.55M	—	—	—
Machinery	—	92.16M	42.79M	22.24M	27.48M
Leasehold Improvements	—	6.73M	6.46M	4.52M	4.29M
Property, Plant & Equipment	—	160.28M	118.50M	82.28M	34.46M
Other Current Assets	—	26.48M	49.10M	20.20M	14.74M
Long-Term Leases	—	2.33M	1.85M	8.05M	1.99M
Current Portion of Leases	—	1.46M	1.34M	3.12M	1.42M
Liabilities & Obligations
Total Liabilities	—	182.61M	127.92M	59.49M	32.40M
Total Liabilities & Equity	—	420.79M	329.84M	215.96M	170.71M
Total Current Liabilities	—	151.44M	104.82M	46.01M	23.42M
Accounts Payable	—	1.94M	21.85M	6.91M	6.72M
Accrued Expenses	—	4.66M	3.73M	2.74M	4.97M
Current Income Taxes Payable	—	3.05M	2.32M	2.69M	1.66M
Other Current Liabilities	—	1.70M	0.54M	0.89M	0.59M
Pension & Post-Retirement Benefits	—	2.09M	1.60M	1.33M	1.14M
Debt & Funding
Long-Term Debt	—	26.74M	19.66M	4.10M	5.84M
Short-Term Debt	—	127.70M	64.46M	16.73M	—
Total Debt	280.26M	169.16M	97.88M	44.93M	17.32M
Current Portion of Long-Term Debt	—	10.92M	10.57M	12.93M	8.07M
Equity & Book Value
Shareholders' Equity	275.53M	238.19M	201.92M	156.47M	138.31M
Common Stock	—	116.16M	58.08M	58.08M	58.08M
Additional Paid-In Capital	—	67.84M	67.84M	67.84M	67.84M
Retained Earnings	—	57.78M	77.80M	35.55M	17.39M
Treasury Stock	—	-4.00M	-2.00M	-5.00M	-5.00M
Comprehensive Income & Other	—	404.03K	201.73K	—	—
Book Value Per Share	1.22	1.10	0.90	0.68	0.79
Tangible Book Value	275.53M	238.19M	201.92M	156.47M	138.31M
Tangible Book Value Per Share	1.22	1.10	0.90	0.68	0.79
Filing Date Shares Outstanding	228.30M	216.32M	224.32M	230.32M	174.62M
Total Common Shares Outstanding	228.30M	216.32M	224.32M	230.32M	174.62M
Working Capital	—	109.08M	106.53M	87.68M	112.83M