TADWEEER

National Environmental Recycling Co.

9540StocksTadawulIndustrials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (SAR)

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	493.65M	482.52M	258.53M	228.61M	267.54M
Cost of Revenue	463.49M	449.34M	241.11M	208.89M	239.07M
Gross Profit	30.16M	33.18M	17.42M	19.72M	28.47M
SG&A	3.97M	4.04M	2.67M	4.46M	4.66M
Operating Expenses	5.29M	3.93M	2.99M	5.73M	5.93M
Operating Income	24.87M	29.25M	14.43M	13.99M	22.54M
Interest Income	3.51M	—	—	—	—
Interest Expense	-6.08M	-4.43M	-4.52M	-3.89M	-3.11M
Other Income/Expense	-0.70M	-0.19M	3.06M	-1.08M	-0.34M
Pretax Income	21.60M	24.43M	12.66M	9.02M	19.09M
Income Tax	1.11M	1.17M	1.66M	0.66M	0.81M
Net Income	20.49M	23.26M	11.00M	8.36M	18.27M
EBITDA	28.61M	32.79M	17.29M	16.87M	25.21M
EBIT	24.87M	29.25M	14.43M	13.99M	22.54M
EPS (Basic)	0.09	0.10	0.05	0.04	0.08
EPS (Diluted)	0.09	0.10	0.05	0.04	0.08
Margins & Efficiency
Gross Margin %	+6.1%	+6.9%	+6.7%	+8.6%	+10.6%
EBITDA Margin %	+5.8%	+6.8%	+6.7%	+7.4%	+9.4%
Net Margin %	+4.2%	+4.8%	+4.3%	+3.7%	+6.8%
Revenue & Income
Revenue	493.65M	482.52M	258.53M	228.61M	267.54M
Revenue Growth (YoY)	+84.5%	+129.7%	+29.9%	+16.5%	+33.3%
Interest & Investment Income	3.51M	—	—	—	—
Currency Exchange Gain (Loss)	—	-205.66K	-315.96K	—	—
Expenses & Provisions
Cost of Revenue	463.49M	449.34M	241.11M	208.89M	239.07M
Selling, General & Admin	3.97M	4.04M	2.67M	4.46M	4.66M
Operating Expenses	5.29M	3.93M	2.99M	5.73M	5.93M
Other Operating Expenses	—	—	—	—	—
Interest Expense	-6.08M	-4.43M	-4.52M	-3.89M	-3.11M
Other Non Operating Income (Expenses)	-0.70M	-0.19M	3.06M	-1.08M	-0.34M
D&A For EBITDA	3.74M	3.54M	2.86M	2.88M	2.67M
Profitability & Returns
Gross Profit	30.16M	33.18M	17.42M	19.72M	28.47M
Gross Margin	+6.1%	+6.9%	+6.7%	+8.6%	+10.6%
EBIT	24.87M	29.25M	14.43M	13.99M	22.54M
EBIT Margin	+5.0%	+6.1%	+5.6%	+6.1%	+8.4%
EBITDA	28.61M	32.79M	17.29M	16.87M	25.21M
EBITDA Margin	+5.8%	+6.8%	+6.7%	+7.4%	+9.4%
EBT Excluding Unusual Items	21.60M	24.43M	12.66M	9.02M	19.09M
Pretax Income	21.60M	24.43M	12.66M	9.02M	19.09M
Operating Income	24.87M	29.25M	14.43M	13.99M	22.54M
Operating Margin	+5.0%	+6.1%	+5.6%	+6.1%	+8.4%
Profit Margin	+4.2%	+4.8%	+4.3%	+3.7%	+6.8%
Net Income	20.49M	23.26M	11.00M	8.36M	18.27M
Net Income to Common	20.49M	23.26M	11.00M	8.36M	18.27M
Net Income Growth	+12.1%	+45.0%	+55.1%	+68.6%	+126.3%
Earnings From Continuing Ops.	20.49M	23.26M	11.00M	8.36M	18.27M
Earnings From Discontinued Ops.	—	—	—	—	—
Income Tax Expense	1.11M	1.17M	1.66M	0.66M	0.81M
Effective Tax Rate	+5.1%	+4.8%	+13.1%	+7.3%	+4.3%
Per Share & Capital
EPS (Basic)	0.09	0.10	0.05	0.04	0.08
EPS (Diluted)	0.09	0.10	0.05	0.04	0.08
EPS Growth	+12.4%	+45.8%	+57.6%	+144.1%	+14.3%
Shares Change (YoY)	—	0	-0.01	-0.3	0.97
Shares Outstanding (Basic)	227.84M	227.86M	225.17M	238.90M	224.32M
Shares Outstanding (Diluted)	228.32M	228.35M	225.65M	238.90M	228.32M
Free Cash Flow	-17.58M	-68.35M	—	-0.89M	-41.65M
Free Cash Flow Margin	-3.6%	-14.2%	—	-0.4%	-15.6%
Free Cash Flow Per Share	-0.08	-0.30	—	-0.00	-0.18
Supplemental
Other Unusual Items	—	—	—	—	—

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (SAR)

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	493.65M	482.52M	258.53M	228.61M	267.54M
Cost of Revenue	463.49M	449.34M	241.11M	208.89M	239.07M
Gross Profit	30.16M	33.18M	17.42M	19.72M	28.47M
SG&A	3.97M	4.04M	2.67M	4.46M	4.66M
Operating Expenses	5.29M	3.93M	2.99M	5.73M	5.93M
Operating Income	24.87M	29.25M	14.43M	13.99M	22.54M
Interest Income	3.51M	—	—	—	—
Interest Expense	-6.08M	-4.43M	-4.52M	-3.89M	-3.11M
Other Income/Expense	-0.70M	-0.19M	3.06M	-1.08M	-0.34M
Pretax Income	21.60M	24.43M	12.66M	9.02M	19.09M
Income Tax	1.11M	1.17M	1.66M	0.66M	0.81M
Net Income	20.49M	23.26M	11.00M	8.36M	18.27M
EBITDA	28.61M	32.79M	17.29M	16.87M	25.21M
EBIT	24.87M	29.25M	14.43M	13.99M	22.54M
EPS (Basic)	0.09	0.10	0.05	0.04	0.08
EPS (Diluted)	0.09	0.10	0.05	0.04	0.08
Margins & Efficiency
Gross Margin %	+6.1%	+6.9%	+6.7%	+8.6%	+10.6%
EBITDA Margin %	+5.8%	+6.8%	+6.7%	+7.4%	+9.4%
Net Margin %	+4.2%	+4.8%	+4.3%	+3.7%	+6.8%
Revenue & Income
Revenue	493.65M	482.52M	258.53M	228.61M	267.54M
Revenue Growth (YoY)	+84.5%	+129.7%	+29.9%	+16.5%	+33.3%
Interest & Investment Income	3.51M	—	—	—	—
Currency Exchange Gain (Loss)	—	-205.66K	-315.96K	—	—
Expenses & Provisions
Cost of Revenue	463.49M	449.34M	241.11M	208.89M	239.07M
Selling, General & Admin	3.97M	4.04M	2.67M	4.46M	4.66M
Operating Expenses	5.29M	3.93M	2.99M	5.73M	5.93M
Other Operating Expenses	—	—	—	—	—
Interest Expense	-6.08M	-4.43M	-4.52M	-3.89M	-3.11M
Other Non Operating Income (Expenses)	-0.70M	-0.19M	3.06M	-1.08M	-0.34M
D&A For EBITDA	3.74M	3.54M	2.86M	2.88M	2.67M
Profitability & Returns
Gross Profit	30.16M	33.18M	17.42M	19.72M	28.47M
Gross Margin	+6.1%	+6.9%	+6.7%	+8.6%	+10.6%
EBIT	24.87M	29.25M	14.43M	13.99M	22.54M
EBIT Margin	+5.0%	+6.1%	+5.6%	+6.1%	+8.4%
EBITDA	28.61M	32.79M	17.29M	16.87M	25.21M
EBITDA Margin	+5.8%	+6.8%	+6.7%	+7.4%	+9.4%
EBT Excluding Unusual Items	21.60M	24.43M	12.66M	9.02M	19.09M
Pretax Income	21.60M	24.43M	12.66M	9.02M	19.09M
Operating Income	24.87M	29.25M	14.43M	13.99M	22.54M
Operating Margin	+5.0%	+6.1%	+5.6%	+6.1%	+8.4%
Profit Margin	+4.2%	+4.8%	+4.3%	+3.7%	+6.8%
Net Income	20.49M	23.26M	11.00M	8.36M	18.27M
Net Income to Common	20.49M	23.26M	11.00M	8.36M	18.27M
Net Income Growth	+12.1%	+45.0%	+55.1%	+68.6%	+126.3%
Earnings From Continuing Ops.	20.49M	23.26M	11.00M	8.36M	18.27M
Earnings From Discontinued Ops.	—	—	—	—	—
Income Tax Expense	1.11M	1.17M	1.66M	0.66M	0.81M
Effective Tax Rate	+5.1%	+4.8%	+13.1%	+7.3%	+4.3%
Per Share & Capital
EPS (Basic)	0.09	0.10	0.05	0.04	0.08
EPS (Diluted)	0.09	0.10	0.05	0.04	0.08
EPS Growth	+12.4%	+45.8%	+57.6%	+144.1%	+14.3%
Shares Change (YoY)	—	0	-0.01	-0.3	0.97
Shares Outstanding (Basic)	227.84M	227.86M	225.17M	238.90M	224.32M
Shares Outstanding (Diluted)	228.32M	228.35M	225.65M	238.90M	228.32M
Free Cash Flow	-17.58M	-68.35M	—	-0.89M	-41.65M
Free Cash Flow Margin	-3.6%	-14.2%	—	-0.4%	-15.6%
Free Cash Flow Per Share	-0.08	-0.30	—	-0.00	-0.18
Supplemental
Other Unusual Items	—	—	—	—	—