DFM:MAZAYA Income Statement

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

Millions KWD. 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
Rental Revenue	11.27	12.37	12.61	11.59	9.56
Property Management Fees	0.09	0.09	0.25	0.3	0.28
Other Revenue	0.4	0.52	3.07	3.82	3.4
Total Revenue	11.76	12.98	15.93	15.72	13.24
Revenue Growth (YoY	-9.42%	-18.48%	1.34%	18.70%	-27.41%
Property Expenses	2.65	3.31	4.92	5.75	4.74
Selling, General & Administrative	2.59	2.71	4.04	3.46	3.49
Depreciation & Amortization	0.04	0.05	0.21	0.18	0.09
Total Operating Expenses	5.28	6.07	9.17	9.39	8.31
Operating Income	6.48	6.92	6.75	6.33	4.93
Interest Expense	-4.37	-5.35	-7.53	-5.67	-4.72
Other Non-Operating Income	0.45	-0.93	-0.71	-1	0.45
EBT Excluding Unusual Items	2.55	0.63	-1.48	-0.34	0.66
Impairment of Goodwill	-	-	-2.25	-	-
Gain (Loss) on Sale of Investments	0.03	0.13	-0.03	-0.08	-0.04
Gain (Loss) on Sale of Assets	0.54	0.94	3.58	-0.25	-0.48
Asset Writedown	-1.1	0.15	-3.2	-10.06	-1.55
Total Legal Settlements	-0.26	-1.16	-0.5	-0.7	1.84
Other Unusual Items	-	1.13	0.4	-	-
Pretax Income	1.77	1.83	-3.49	-11.43	0.43
Income Tax Expense	0.04	0.41	-	-	-
Earnings From Continuing Operations	1.73	1.41	-3.49	-11.43	0.43
Earnings From Discontinued Operations	-	-	-22.59	-1.92	0.36
Net Income to Company	1.73	1.41	-26.08	-13.36	0.78
Minority Interest in Earnings	0	-0.2	-0.43	0.37	-0.31
Net Income	1.73	1.22	-26.51	-12.99	0.47
Net Income to Common	1.73	1.22	-26.51	-12.99	0.47
Net Income Growth	42.41%	-	-	-	-
Basic Shares Outstanding	500	494	459	485	485
Diluted Shares Outstanding	500	494	459	485	485
Shares Change (YoY)	1.23%	7.55%	-5.30%	0.01%	0.22%
EPS (Basic)	0.00	0.00	-0.06	-0.03	0.00
EPS (Diluted)	0.00	0.00	-0.06	-0.03	0.00
EPS Growth	40.72%	-	-	-	-
Operating Margin	55.07%	53.26%	42.40%	40.28%	37.21%
Profit Margin	14.73%	9.37%	-166.42%	-82.63%	3.57%
EBITDA	6.52	6.96	6.92	6.52	5.08
EBITDA Margin	55.41%	53.63%	43.47%	41.48%	38.35%
D&A For Ebitda	0.04	0.05	0.17	0.19	0.15
EBIT	6.48	6.92	6.75	6.33	4.93
EBIT Margin	55.07%	53.26%	42.40%	40.28%	37.21%
Effective Tax Rate	2.35%	22.69%	-	-	-
Revenue as Reported	11.88	13.26	15.92	15.69	13.24

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