KWSE:IPG Income Statement

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

Millions KWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	853.85	884.84	1,221	1,068	1,646	1,001
Revenue Growth (YoY)	-24.99%	-27.52%	14.36%	-35.14%	64.41%	94.12%
Cost of Revenue	838.29	867.21	1,184	1,049	1,621	987.59
Gross Profit	15.56	17.64	36.86	18.14	24.7	13.61
Selling, General & Admin	8.69	8.48	7.81	7.83	8.18	7.79
Other Operating Expenses	7.28	11.48	22.73	5.8	-0.2	0.19
Operating Expenses	18.42	22.28	31.95	15.3	9.78	9.89
Operating Income	-2.87	-4.64	4.91	2.83	14.92	3.72
Interest Expense	-9.93	-9.97	-16.39	-14.74	-10.3	-3.51
Interest & Investment Income	6.76	5.73	4.48	6.58	7.04	3.53
Earnings From Equity Investments	11.34	11.66	9.66	8.01	7.64	6.14
Currency Exchange Gain (Loss)	0.25	0.25	0.33	-1.44	-1.33	-0.7
Other Non Operating Income (Expenses)	-0.13	-0.12	-0.1	-0.16	-0.08	-6.54
EBT Excluding Unusual Items	5.43	2.92	2.9	1.07	17.88	2.64
Gain (Loss) on Sale of Investments	6.81	9.08	6.11	6.75	-10.23	4.55
Pretax Income	12.23	12.01	9.01	7.82	7.66	7.19
Income Tax Expense	1.86	1.83	-	-	-	-
Net Income	10.38	10.17	9.01	7.82	7.66	7.19
Net Income to Common	10.38	10.17	9.01	7.82	7.66	7.19
Net Income Growth	10.07%	12.85%	15.29%	2.12%	6.42%	4.59%
Shares Outstanding (Basic)	181	181	181	181	181	181
Shares Outstanding (Diluted)	181	181	181	181	181	181
Shares Change (YoY)	-0.02%	-	-	-	-	-
EPS (Basic)	0.06	0.06	0.05	0.04	0.04	0.04
EPS (Diluted)	0.06	0.06	0.05	0.04	0.04	0.04
EPS Growth	10.09%	12.85%	15.29%	2.12%	6.42%	4.59%
Free Cash Flow	-66.36	-43.24	31.44	-16.79	15.06	-10.55
Free Cash Flow Per Share	-0.37	-0.24	0.17	-0.09	0.08	-0.06
Dividend Per Share	0.045	0.045	0.040	0.030	0.030	0.030
Dividend Growth	12.50%	12.50%	33.33%	-	-	-
Gross Margin	1.82%	1.99%	3.02%	1.70%	1.50%	1.36%
Operating Margin	-0.34%	-0.53%	0.40%	0.27%	0.91%	0.37%
Profit Margin	1.21%	1.15%	0.74%	0.73%	0.46%	0.72%
Free Cash Flow Margin	-7.77%	-4.89%	2.58%	-1.57%	0.92%	-1.05%
EBITDA	-0.41	-2.32	6.32	4.51	16.73	5.64
EBITDA Margin	-0.05%	-0.26%	0.52%	0.42%	1.02%	0.56%
D&A For EBITDA	2.46	2.32	1.41	1.68	1.81	1.92
EBIT	-2.87	-4.64	4.91	2.83	14.92	3.72
EBIT Margin	-0.34%	-0.52%	0.40%	0.27%	0.91%	0.37%
Effective Tax Rate	15.17%	15.28%	-	-	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.