KWSE:MEZZAN 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
Revenue	297.15	286.13	271.18	255.17	245.14
Revenue Growth (YoY)	3.85%	5.51%	6.27%	4.09%	-0.51%
Cost of Revenue	222.16	217.99	209.65	204.07	192.18
Gross Profit	74.99	68.14	61.53	51.1	52.95
Selling, General & Admin	48.91	48.92	43.12	52.65	42.5
Other Operating Expenses	-0.51	-1.06	0.03	-3.32	-0.06
Operating Expenses	48.4	47.85	43.16	49.33	42.44
Operating Income	26.59	20.29	18.38	1.77	10.51
Interest Expense	-6.21	-6.21	-5.81	-3.57	-2.39
Interest & Investment Income	0.35	0.12	0.07	0.06	0.1
Earnings From Equity Investments	0.1	0.06	0.11	0.49	0.12
Currency Exchange Gain (Loss)	-0.58	0.32	-0.04	-0.29	0.19
Other Non Operating Income (Expenses)	-	-	-0.13	-	-0.09
EBT Excluding Unusual Items	20.25	14.58	12.58	-1.55	8.44
Gain (Loss) on Sale of Assets	0.17	1.68	0.24	-0.1	0.06
Asset Writedown	-	-	-	-	1.21
Pretax Income	20.43	16.25	12.82	-1.65	9.71
Income Tax Expense	1.82	0.75	0.09	0.04	0.1
Earnings From Continuing Operations	18.61	15.5	12.73	-1.69	9.61
Minority Interest in Earnings	-1.27	-0.93	-1.27	-0.28	-1.18
Net Income	17.34	14.57	11.46	-1.97	8.43
Net Income to Common	17.34	14.57	11.46	-1.97	8.43
Net Income Growth	18.98%	27.15%	-	-	-22.84%
Shares Outstanding (Basic)	311	311	310	309	306
Shares Outstanding (Diluted)	311	311	310	309	306
Shares Change (YoY)	0.15%	0.16%	0.51%	0.80%	0.60%
EPS (Basic)	0.06	0.05	0.04	-0.01	0.03
EPS (Diluted)	0.06	0.05	0.04	-0.01	0.03
EPS Growth	18.80%	26.94%	-	-	-23.30%
Free Cash Flow	5.97	5.54	15.99	2.72	13.65
Free Cash Flow Per Share	0.02	0.02	0.05	0.01	0.04
Dividend Per Share	0.045	0.025	0.020	0.012	0.016
Dividend Growth	80.00%	25.00%	66.67%	-25.00%	-11.11%
Gross Margin	25.24%	23.82%	22.69%	20.03%	21.60%
Operating Margin	8.95%	7.09%	6.78%	0.69%	4.29%
Profit Margin	5.83%	5.09%	4.23%	-0.77%	3.44%
Free Cash Flow Margin	2.01%	1.94%	5.90%	1.07%	5.57%
EBITDA	33.46	27.33	25.48	9.39	17.73
EBITDA Margin	11.26%	9.55%	9.40%	3.68%	7.23%
D&A For EBITDA	6.87	7.04	7.1	7.62	7.21
EBIT	26.59	20.29	18.38	1.77	10.51
EBIT Margin	8.95%	7.09%	6.78%	0.69%	4.29%
Effective Tax Rate	8.93%	4.62%	0.71%	-	1.01%

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