Injazzat Real Estate Development Company K.P.S.C. (KWSE: INJAZZAT)

INJAZZAT Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Rental Revenue	2.96	3.13	2.92	2.71	2.85	3.16
Property Management Fees	0.18	0.14	0.11	0.11	0.35	0.67
Gain (Loss) on Sale of Assets (Rev)	1.03	0.44	3.06	1.74	-	-
Gain (Loss) on Sale of Investments (Rev)	0.05	0.05	-0.1	-0.08	0.63	2.26
Other Revenue	1.51	1.22	1.95	0.9	0.73	-0.06
Total Revenue	6.88	6.12	8.68	6.32	5.26	6.67
Revenue Growth (YoY	-16.99%	-29.54%	37.47%	20.12%	-21.12%	-30.12%
Property Expenses	1.13	1.07	1.45	1.33	1.03	1.2
Selling, General & Administrative	0.51	0.43	0.45	0.45	0.33	0.53
Depreciation & Amortization	0.15	0.15	0.19	0.17	0.17	0.16
Other Operating Expenses	0.97	0.93	0.97	0.91	0.6	0.73
Total Operating Expenses	2.75	2.59	3.05	2.86	2.13	2.61
Operating Income	4.13	3.53	5.63	3.46	3.12	4.05
Interest Expense	-1.9	-2.06	-1.9	-1.53	-1.74	-2.2
Currency Exchange Gain (Loss)	-0.11	0.03	0.11	-0.04	0	-0.09
Other Non-Operating Income	-0.03	-0.02	-0.03	-0.03	-0.01	-
EBT Excluding Unusual Items	2.09	1.48	3.82	1.85	1.38	1.76
Gain (Loss) on Sale of Investments	-	-	-0.31	-	-	-
Asset Writedown	0.89	0.89	-0.53	1.02	-0.54	-8.66
Pretax Income	2.98	2.37	2.97	2.88	0.84	-6.89
Income Tax Expense	0.03	0.02	0.03	0.03	0.01	-
Earnings From Continuing Operations	2.95	2.35	2.94	2.85	0.83	-6.89
Net Income	2.95	2.35	2.94	2.85	0.83	-6.89
Net Income to Common	2.95	2.35	2.94	2.85	0.83	-6.89
Net Income Growth	2.86%	-20.04%	3.21%	242.29%	-	-
Basic Shares Outstanding	338	338	338	331	335	336
Diluted Shares Outstanding	338	338	338	331	335	336
Shares Change (YoY)	0.00%	-0.03%	2.23%	-1.11%	-0.35%	-0.22%
EPS (Basic)	0.01	0.01	0.01	0.01	0.00	-0.02
EPS (Diluted)	0.01	0.01	0.01	0.01	0.00	-0.02
EPS Growth	2.87%	-20.03%	0.97%	246.19%	-	-
Dividend Per Share	0.005	0.005	0.005	0.005	-	-
Operating Margin	60.00%	57.74%	64.82%	54.72%	59.41%	60.78%
Profit Margin	42.87%	38.39%	33.83%	45.06%	15.81%	-103.41%
Free Cash Flow Margin	-9.93%	196.59%	-121.26%	-14.43%	35.27%	-11.50%
EBITDA	4.14	3.57	5.67	3.5	3.17	4.08
EBITDA Margin	60.22%	58.38%	65.35%	55.43%	60.26%	61.21%
D&A For Ebitda	0.01	0.04	0.05	0.05	0.05	0.03
EBIT	4.13	3.53	5.63	3.46	3.12	4.05
EBIT Margin	60.00%	57.74%	64.82%	54.72%	59.41%	60.78%
Effective Tax Rate	0.94%	0.90%	1.10%	1.09%	1.10%	-
Revenue as Reported	7.66	7.04	8.26	7.3	4.72	-2.08

Source: S&P Capital IQ. Real Estate template. Financial Sources.