ADX:INVICTUS Income Statement

Financials in millions AED. Fiscal year is January - December.

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	13,256	8,922	8,101	5,983	2,949
Revenue Growth (YoY)	48.57%	10.14%	35.40%	102.91%	46.06%
Cost of Revenue	12,650	8,708	7,747	5,412	2,618
Gross Profit	606.38	214.41	353.95	570.87	330.38
Selling, General & Admin	242.18	75.99	72.51	60.81	33.66
Amortization of Goodwill & Intangibles	14.24	1.89	0.44	0.66	0
Other Operating Expenses	-46.09	-23.68	-0.04	-	-
Operating Expenses	238.73	57.65	83.52	61.65	34.02
Operating Income	367.66	156.77	270.43	509.22	296.36
Interest Expense	-247.53	-117.83	-95.85	-43.66	-12.6
Interest & Investment Income	162.12	145.08	52.45	2.6	2.71
Earnings From Equity Investments	-1.27	2.51	-1.1	-	-
Currency Exchange Gain (Loss)	-1.74	-3.26	-11.02	-6.09	-0.9
Other Non Operating Income (Expenses)	-21.15	-10.62	-13.5	-4.75	-3.55
EBT Excluding Unusual Items	258.08	172.64	201.39	457.32	282.02
Gain (Loss) on Sale of Assets	0.85	0.02	-	-	-
Asset Writedown	-1.34	-0.73	-	-2.74	-
Other Unusual Items	-5.04	-	12.27	-	-
Pretax Income	285.89	171.93	213.67	454.59	282.02
Income Tax Expense	58.27	5.61	-	-	-
Earnings From Continuing Operations	227.62	166.32	213.67	454.59	282.02
Minority Interest in Earnings	-1.72	2.06	-	-	-
Net Income	225.9	168.38	213.67	454.59	282.02
Net Income to Common	225.9	168.38	213.67	454.59	282.02
Net Income Growth	34.16%	-21.19%	-53.00%	61.19%	46.86%
Shares Outstanding (Basic)	1,120	1,120	1,120	800	4
Shares Outstanding (Diluted)	1,120	1,120	1,120	800	4
Shares Change (YoY)	-	-	40.04%	19894.76%	-
EPS (Basic)	0.20	0.15	0.19	0.57	70.51
EPS (Diluted)	0.20	0.15	0.19	0.57	70.51
EPS Growth	34.16%	-21.19%	-66.44%	-99.19%	46.86%
Free Cash Flow	-503.47	-302.57	-356.94	22.91	-128.77
Free Cash Flow Per Share	-0.45	-0.27	-0.32	0.03	-32.19
Dividend Per Share	0.036	0.029	0.040	0.156	39.000
Dividend Growth	22.20%	-26.68%	-74.28%	-99.60%	490.40%
Gross Margin	4.57%	2.40%	4.37%	9.54%	11.20%
Operating Margin	2.77%	1.76%	3.34%	8.51%	10.05%
Profit Margin	1.70%	1.89%	2.64%	7.60%	9.56%
Free Cash Flow Margin	-3.80%	-3.39%	-4.41%	0.38%	-4.37%
EBITDA	426.97	160.42	271.74	509.29	296.44
EBITDA Margin	3.22%	1.80%	3.35%	8.51%	10.05%
D&A For EBITDA	59.32	3.65	1.31	0.07	0.08
EBIT	367.66	156.77	270.43	509.22	296.36
EBIT Margin	2.77%	1.76%	3.34%	8.51%	10.05%
Effective Tax Rate	20.38%	3.26%	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.