KWSE:MRC Income Statement

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
Revenue	21.61	19.07	13.69	12.55	14.76	18.2
Revenue Growth (YoY)	37.38%	39.34%	9.06%	-14.97%	-18.88%	-10.84%
Cost of Revenue	17.06	14.65	10.12	9.47	11.18	13.72
Gross Profit	4.54	4.43	3.57	3.08	3.58	4.47
Selling, General & Admin	1.83	1.99	1.91	2	3.66	4.67
Other Operating Expenses	0.01	0.01	0.01	0.12	-	-
Operating Expenses	3.6	3.8	2.6	3.03	4.82	5.24
Operating Income	0.94	0.63	0.97	0.05	-1.24	-0.76
Interest Expense	-0.7	-0.67	-0.6	-0.42	-0.34	-0.32
Interest & Investment Income	0.13	0.15	0.17	0.04	0.02	0.03
Earnings From Equity Investments	-0	-0	-0	0.77	0.56	0.01
Currency Exchange Gain (Loss)	-0	-0	-0	0.01	-0.01	-0.02
Other Non Operating Income (Expenses)	0.1	0.08	0.11	0.14	0.08	0.3
EBT Excluding Unusual Items	0.47	0.19	0.64	0.6	-0.93	-0.76
Gain (Loss) on Sale of Investments	-	-	-	-	-	-0.13
Gain (Loss) on Sale of Assets	0.04	0.07	0.03	0.21	0.05	0
Asset Writedown	0.02	0.02	-0.01	-	-	-1.19
Legal Settlements	0	0	0.1	0.06	-	-
Pretax Income	0.54	0.29	0.76	0.87	-0.88	-2.08
Income Tax Expense	0	0.01	0	0	-	-
Earnings From Continuing Operations	0.54	0.28	0.76	0.87	-0.88	-2.08
Minority Interest in Earnings	-0.35	-0.35	-0.51	-0.45	-0.38	-0.41
Net Income	0.19	-0.06	0.25	0.42	-1.26	-2.49
Net Income to Common	0.19	-0.06	0.25	0.42	-1.26	-2.49
Net Income Growth	287.16%	-	-39.88%	-	-	-
Shares Outstanding (Basic)	90	90	90	90	90	90
Shares Outstanding (Diluted)	90	90	90	145	90	90
Shares Change (YoY)	0.01%	-	-37.70%	60.65%	-0.09%	-0.01%
EPS (Basic)	0.00	-0.00	0.00	0.00	-0.01	-0.03
EPS (Diluted)	0.00	-0.00	0.00	0.00	-0.01	-0.03
EPS Growth	287.34%	-	-36.53%	-	-	-
Free Cash Flow	0.49	-0.22	-1.15	-0.69	-1.34	0.68
Free Cash Flow Per Share	0.01	-0.00	-0.01	-0.01	-0.01	0.01
Gross Margin	21.02%	23.21%	26.08%	24.54%	24.23%	24.58%
Operating Margin	4.37%	3.28%	7.08%	0.40%	-8.39%	-4.19%
Profit Margin	0.88%	-0.33%	1.83%	3.32%	-8.54%	-13.67%
Free Cash Flow Margin	2.25%	-1.14%	-8.42%	-5.53%	-9.09%	3.75%
EBITDA	1.68	1.29	1.48	0.46	-0.89	-0.17
EBITDA Margin	7.77%	6.75%	10.85%	3.65%	-6.01%	-0.93%
D&A For EBITDA	0.73	0.66	0.52	0.41	0.35	0.59
EBIT	0.94	0.63	0.97	0.05	-1.24	-0.76
EBIT Margin	4.37%	3.28%	7.08%	0.40%	-8.39%	-4.19%
Effective Tax Rate	0.79%	1.77%	0.57%	0.30%	-	-
Revenue as Reported	21.61	19.07	13.69	12.55	14.76	18.2

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