KWSE:AREEC Balance Sheet

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

Millions KWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Property, Plant & Equipment	91.93	91.95	91.87	91.17	83.45	72.58
Cash & Equivalents	3.98	3.1	3.03	3.71	1.88	1.9
Accounts Receivable	0.25	0.28	0.25	0.18	0.76	2.03
Other Current Assets	0.04	0.07	0.09	0.01	0.56	0.58
Trading Asset Securities	1.34	1.05	0.52	0.42	1.84	1.51
Other Long-Term Assets	78.91	78.43	76.84	75.7	74.31	72.17
Total Assets	176.45	174.88	172.62	171.2	162.81	150.77
Current Portion of Long-Term Debt	-	-	1.5	0.75	-	-
Current Portion of Leases	-	-	-	-	-	0.51
Long-Term Debt	30	30	30.25	31.75	27.8	20.4
Long-Term Leases	-	-	-	-	0.45	0.74
Accounts Payable	2.85	1.04	1.23	2.62	3.25	2.55
Accrued Expenses	-	0.57	0.51	0.34	0.16	0.03
Current Unearned Revenue	-	0.36	0.32	0.29	-	-
Other Current Liabilities	-	0.77	0.65	0.56	0.12	0.13
Other Long-Term Liabilities	1.03	1.01	1	0.71	0.15	-
Total Liabilities	34.5	34.3	35.93	38.05	32.78	24.85
Common Stock	21.03	21.03	20.42	19.45	19.45	19.45
Additional Paid-In Capital	5.2	5.2	5.2	5.2	5.2	5.2
Retained Earnings	69.91	68.5	65.23	62.7	59.66	55.5
Treasury Stock	-0.32	-0.32	-0.32	-0.32	-0.32	-0.32
Comprehensive Income & Other	46.12	46.17	46.16	46.12	46.03	46.09
Shareholders' Equity	141.95	140.58	136.69	133.15	130.03	125.92
Total Liabilities & Equity	176.45	174.88	172.62	171.2	162.81	150.77
Total Debt	30	30	31.75	33.1	28.76	21.85
Net Cash (Debt)	-24.68	-25.85	-28.2	-28.97	-25.04	-18.44
Net Cash Per Share	-0.12	-0.12	-0.13	-0.14	-0.12	-0.09
Filing Date Shares Outstanding	209.19	209.19	209.19	209.19	209.19	209.19
Total Common Shares Outstanding	209.19	209.19	209.19	209.19	209.19	209.19
Book Value Per Share	0.68	0.67	0.65	0.64	0.62	0.60
Tangible Book Value	141.95	140.58	136.69	133.15	130.03	125.92
Tangible Book Value Per Share	0.68	0.67	0.65	0.64	0.62	0.60

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.