KWSE:PAPER 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	13.32	13.24	15.01	14.54	12.84
Revenue Growth (YoY)	0.56%	-11.75%	3.20%	13.25%	4.49%
Cost of Revenue	11.42	11.04	12.2	11.94	10.45
Gross Profit	1.9	2.2	2.81	2.6	2.39
Selling, General & Admin	1.17	1.23	1.33	1.37	1.16
Other Operating Expenses	0.02	0.03	0.04	0.04	0.04
Operating Expenses	1.13	1.26	1.39	1.46	1.26
Operating Income	0.77	0.94	1.42	1.14	1.13
Interest Expense	-0.06	-0.09	-0.05	-0.03	-0.04
Interest & Investment Income	0.08	0.07	0.03	0.03	0
Earnings From Equity Investments	-	-	-	0.03	0.18
Currency Exchange Gain (Loss)	-0	-0.01	0.01	0.01	-0
Other Non Operating Income (Expenses)	0.08	0.07	0.05	0.07	0.09
EBT Excluding Unusual Items	0.87	0.99	1.45	1.25	1.36
Impairment of Goodwill	-0.15	-	-	-	-
Gain (Loss) on Sale of Investments	-	-	0	0.11	-
Gain (Loss) on Sale of Assets	0	0.19	-	-	-
Pretax Income	0.72	1.18	1.45	1.36	1.36
Income Tax Expense	0.01	0.01	0.02	0.02	0.02
Net Income	0.71	1.16	1.44	1.35	1.34
Net Income to Common	0.71	1.16	1.44	1.35	1.34
Net Income Growth	-38.96%	-18.92%	6.82%	0.27%	30.88%
Shares Outstanding (Basic)	99	99	99	99	99
Shares Outstanding (Diluted)	99	99	99	99	99
EPS (Basic)	0.01	0.01	0.01	0.01	0.01
EPS (Diluted)	0.01	0.01	0.01	0.01	0.01
EPS Growth	-38.96%	-18.92%	6.82%	0.27%	30.88%
Free Cash Flow	-0.73	3.41	3.43	-3.82	4.11
Free Cash Flow Per Share	-0.01	0.03	0.04	-0.04	0.04
Dividend Per Share	0.007	0.012	0.013	0.012	0.012
Dividend Growth	-41.67%	-7.69%	8.33%	-	20.00%
Gross Margin	14.27%	16.64%	18.72%	17.89%	18.64%
Operating Margin	5.77%	7.10%	9.46%	7.84%	8.83%
Profit Margin	5.34%	8.79%	9.57%	9.25%	10.45%
Free Cash Flow Margin	-5.50%	25.72%	22.84%	-26.27%	32.00%
EBITDA	1.55	1.72	2.1	1.73	1.7
EBITDA Margin	11.63%	13.00%	14.01%	11.87%	13.21%
D&A For EBITDA	0.78	0.78	0.68	0.59	0.56
EBIT	0.77	0.94	1.42	1.14	1.13
EBIT Margin	5.77%	7.10%	9.46%	7.84%	8.83%
Effective Tax Rate	0.98%	1.10%	1.16%	1.13%	1.16%

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