Reported Earnings • May 07
First quarter 2026 earnings released: EPS: د.ك0 (vs د.ك0 in 1Q 2025) First quarter 2026 results: EPS: د.ك0 (in line with 1Q 2025). Net loss: د.ك97.0k (loss narrowed 33% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 129% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Announcement • Apr 03
First Investment Company K.S.C.P., Annual General Meeting, Apr 21, 2026 First Investment Company K.S.C.P., Annual General Meeting, Apr 21, 2026, at 11:00 Arab Standard Time. Location: kuwait city Kuwait Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: د.ك0.024 (vs د.ك0.005 in FY 2024) Full year 2025 results: EPS: د.ك0.024 (up from د.ك0.005 in FY 2024). Revenue: د.ك16.0m (up د.ك13.5m from FY 2024). Net income: د.ك10.5m (up 351% from FY 2024). Profit margin: 66% (down from 92% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 57% per year, which means it is significantly lagging earnings growth. New Risk • Mar 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Kuwaiti stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (49% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). New Risk • Nov 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 49% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (49% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: د.ك0.031 (vs د.ك0 in 3Q 2024) Third quarter 2025 results: EPS: د.ك0.031 (up from د.ك0 in 3Q 2024). Net income: د.ك13.8m (up د.ك13.7m from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2025 earnings released: EPS: د.ك0.001 (vs د.ك0.005 in 2Q 2024) Second quarter 2025 results: EPS: د.ك0.001 (down from د.ك0.005 in 2Q 2024). Revenue: د.ك1.03m (up 129% from 2Q 2024). Net income: د.ك499.1k (down 79% from 2Q 2024). Profit margin: 48% (down from 526% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • Jul 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Kuwaiti stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (د.ك19.6m market cap, or US$64.2m). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: د.ك0 (vs د.ك0 in 1Q 2024) First quarter 2025 results: EPS: د.ك0 (in line with 1Q 2024). Revenue: د.ك382.7k (down 42% from 1Q 2024). Net loss: د.ك144.5k (loss widened د.ك141.0k from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Apr 30
First Investment Company K.S.C.P., Annual General Meeting, May 22, 2025 First Investment Company K.S.C.P., Annual General Meeting, May 22, 2025. Location: kuwait city Kuwait New Risk • Nov 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,724% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (د.ك20.8m market cap, or US$67.6m). Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: د.ك0 (vs د.ك0 in 3Q 2023) Third quarter 2024 results: EPS: د.ك0 (in line with 3Q 2023). Revenue: د.ك872.2k (up 47% from 3Q 2023). Net income: د.ك82.9k (up د.ك286.3k from 3Q 2023). Profit margin: 9.5% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: د.ك0.005 (vs د.ك0 in 2Q 2023) Second quarter 2024 results: EPS: د.ك0.005 (up from د.ك0 in 2Q 2023). Net income: د.ك2.37m (up د.ك2.59m from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: د.ك0 (vs د.ك0 in 1Q 2023) First quarter 2024 results: EPS: د.ك0 (in line with 1Q 2023). Revenue: د.ك659.3k (down 7.8% from 1Q 2023). Net loss: د.ك3.4k (down 122% from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: د.ك0 (vs د.ك0.05 loss in FY 2022) Full year 2023 results: EPS: د.ك0 (improved from د.ك0.05 loss in FY 2022). Revenue: د.ك2.62m (down 44% from FY 2022). Net income: د.ك212.7k (up د.ك22.7m from FY 2022). Profit margin: 8.1% (up from net loss in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. New Risk • Oct 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Kuwaiti stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (د.ك19.2m market cap, or US$62.0m). Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: د.ك0 (vs د.ك0.003 in 2Q 2022) Second quarter 2023 results: EPS: د.ك0 (down from د.ك0.003 in 2Q 2022). Net loss: د.ك216.1k (down 115% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 22
First quarter 2023 earnings released: EPS: د.ك0 (vs د.ك0.001 in 1Q 2022) First quarter 2023 results: EPS: د.ك0 (down from د.ك0.001 in 1Q 2022). Revenue: د.ك715.0k (down 24% from 1Q 2022). Net income: د.ك15.4k (down 93% from 1Q 2022). Profit margin: 2.2% (down from 24% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Director Abdulmohsen Al-Tukhaim was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 09
Third quarter 2022 earnings released: EPS: د.ك0 (vs د.ك0 in 3Q 2021) Third quarter 2022 results: EPS: د.ك0 (in line with 3Q 2021). Revenue: د.ك825.3k (up 16% from 3Q 2021). Net income: د.ك81.6k (up د.ك83.1k from 3Q 2021). Profit margin: 9.9% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: د.ك0.003 (vs د.ك0 in 2Q 2021) Second quarter 2022 results: EPS: د.ك0.003 (up from د.ك0 in 2Q 2021). Revenue: د.ك2.28m (up 157% from 2Q 2021). Net income: د.ك1.47m (up د.ك1.45m from 2Q 2021). Profit margin: 65% (up from 2.6% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: د.ك0.001 (up from د.ك0 in 1Q 2021). Net income: د.ك223.4k (up 4.8% from 1Q 2021). Revenue missed analyst estimates by 86%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Director Abdulmohsen Al-Tukhaim was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 02
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: د.ك0.003 loss per share (down from د.ك0.002 loss in FY 2020). Net loss: د.ك1.14m (loss widened 29% from FY 2020). Revenue missed analyst estimates by 86%. Earnings per share (EPS) exceeded analyst estimates by 80%. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.