Kuwait Real Estate Company K.P.S.C. (KWSE:KRE)

KWSE:KRE Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	34.86	28.65	27.62	21.43	21.9
Gain (Loss) on Sale of Investments (Rev)	2.41	0.61	-0.2	-0.38	-0.52
Other Revenue	-1.54	0.79	3.92	0.85	0.84
Total Revenue	36.11	30.41	31.76	22.15	22.63
Revenue Growth (YoY	18.73%	-4.24%	43.39%	-2.13%	-9.23%
Property Expenses	12.27	7.07	7.64	3.4	2.95
Selling, General & Administrative	3.56	3.89	2.9	2.16	1.99
Other Operating Expenses	0.69	0.3	0.09	-0.34	0.09
Total Operating Expenses	16.52	11.41	11.56	7.53	6.06
Operating Income	19.59	19	20.2	14.62	16.57
Interest Expense	-12.89	-10.78	-8.03	-5.22	-6.17
Other Non-Operating Income	-	-0.3	-0.2	-0.23	-
EBT Excluding Unusual Items	6.7	7.92	11.96	9.18	10.4
Gain (Loss) on Sale of Assets	-	10.96	-0.02	1.73	0.35
Asset Writedown	9.53	-6.44	-4.3	-3.66	-6.78
Pretax Income	16.23	12.44	7.65	7.25	3.97
Income Tax Expense	0.74	0.18	0.11	0.12	0.06
Earnings From Continuing Operations	15.49	12.26	7.54	7.13	3.91
Minority Interest in Earnings	-2.07	-0.97	-0.27	-0.88	-0.34
Net Income	13.41	11.29	7.27	6.25	3.57
Net Income to Common	13.41	11.29	7.27	6.25	3.57
Net Income Growth	18.85%	55.30%	16.27%	75.21%	-49.36%
Basic Shares Outstanding	969	973	973	958	923
Diluted Shares Outstanding	969	973	973	958	923
Shares Change (YoY)	-0.40%	0.04%	1.60%	3.79%	2.08%
EPS (Basic)	0.01	0.01	0.01	0.01	0.00
EPS (Diluted)	0.01	0.01	0.01	0.01	0.00
EPS Growth	19.34%	55.25%	14.43%	68.81%	-50.40%
Dividend Per Share	-	0.004	0.003	0.003	-
Dividend Growth	-	35.71%	-	-	-
Operating Margin	54.25%	62.48%	63.59%	66.00%	73.23%
Profit Margin	37.15%	37.11%	22.88%	28.22%	15.76%
EBITDA	20.34	19.23	20.23	14.67	16.71
EBITDA Margin	56.32%	63.23%	63.69%	66.21%	73.82%
D&A For Ebitda	0.75	0.23	0.03	0.05	0.13
EBIT	19.59	19	20.2	14.62	16.57
EBIT Margin	54.25%	62.48%	63.59%	66.00%	73.23%
Effective Tax Rate	4.59%	1.42%	1.41%	1.61%	1.53%

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