Reported Earnings • Jul 28
Second quarter 2026 earnings released: EPS: د.ك0.01 (vs د.ك0.011 in 2Q 2025) Second quarter 2026 results: EPS: د.ك0.01 (down from د.ك0.011 in 2Q 2025). Revenue: د.ك32.2m (down 6.9% from 2Q 2025). Net income: د.ك15.6m (down 7.8% from 2Q 2025). Profit margin: 48% (in line with 2Q 2025). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Announcement • Jul 22
Mabanee Company K.P.S.C. to Report Q2, 2026 Results on Jul 27, 2026 Mabanee Company K.P.S.C. announced that they will report Q2, 2026 results on Jul 27, 2026 Buy Or Sell Opportunity • Jun 02
Now 21% undervalued Over the last 90 days, the stock has risen 7.9% to د.ك0.96. The fair value is estimated to be د.ك1.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 9.6%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 8.1% per annum over the same time period. Buy Or Sell Opportunity • May 17
Now 22% undervalued Over the last 90 days, the stock has risen 3.4% to د.ك0.95. The fair value is estimated to be د.ك1.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 9.6%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are forecast to decline by 1.4% per annum over the same time period. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: د.ك0.011 (vs د.ك0.021 in 1Q 2025) First quarter 2026 results: EPS: د.ك0.011 (down from د.ك0.021 in 1Q 2025). Revenue: د.ك33.5m (down 2.4% from 1Q 2025). Net income: د.ك16.8m (down 50% from 1Q 2025). Profit margin: 50% (down from 97% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 30
Mabanee Company K.P.S.C. to Report Q1, 2026 Results on May 04, 2026 Mabanee Company K.P.S.C. announced that they will report Q1, 2026 results on May 04, 2026 Upcoming Dividend • Mar 30
Upcoming dividend of د.ك0.02 per share Eligible shareholders must have bought the stock before 06 April 2026. Payment date: 23 April 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Kuwaiti dividend payers (5.9%). Lower than average of industry peers (2.6%). Buy Or Sell Opportunity • Mar 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to د.ك0.96. The fair value is estimated to be د.ك1.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are forecast to decline by 6.0% per annum over the same time period. Declared Dividend • Mar 11
Dividend increased to د.ك0.02 Dividend of د.ك0.02 is 61% higher than last year. Ex-date: 6th April 2026 Payment date: 23rd April 2026 Dividend yield will be 2.0%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 26% over the next 3 years. However, it would need to fall by 61% to increase the payout ratio to a potentially unsustainable range. Announcement • Feb 16
Mabanee Company K.P.S.C., Annual General Meeting, Mar 08, 2026 Mabanee Company K.P.S.C., Annual General Meeting, Mar 08, 2026, at 12:30 Arab Standard Time. Location: kuwit city Kuwait Major Estimate Revision • Feb 09
Consensus EPS estimates increase by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from د.ك142.8m to د.ك144.8m. EPS estimate increased from د.ك0.04 to د.ك0.05 per share. Net income forecast to shrink 19% next year vs 17% growth forecast for Real Estate industry in Kuwait . Consensus price target broadly unchanged at د.ك1.21. Share price was steady at د.ك1.04 over the past week. Reported Earnings • Feb 03
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: د.ك0.057 (up from د.ك0.044 in FY 2024). Revenue: د.ك139.5m (up 4.4% from FY 2024). Net income: د.ك84.6m (up 30% from FY 2024). Profit margin: 61% (up from 49% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Announcement • Jan 27
Mabanee Company K.P.S.C. to Report Fiscal Year 2025 Results on Feb 01, 2026 Mabanee Company K.P.S.C. announced that they will report fiscal year 2025 results at 12:00 PM, BT-Baghdad on Feb 01, 2026 New Risk • Dec 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.4% operating cash flow to total debt). Earnings are forecast to decline by an average of 9.0% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Price Target Changed • Dec 03
Price target increased by 14% to د.ك1.08 Up from د.ك0.94, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.ك1.06. Stock is up 38% over the past year. The company is forecast to post earnings per share of د.ك0.056 for next year compared to د.ك0.044 last year. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: د.ك11.62 (vs د.ك0.011 in 3Q 2024) Third quarter 2025 results: EPS: د.ك11.62 (up from د.ك0.011 in 3Q 2024). Revenue: د.ك33.9m (up 3.6% from 3Q 2024). Net income: د.ك17.2m (up 3.6% from 3Q 2024). Profit margin: 51% (in line with 3Q 2024). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Nov 05
Mabanee Company K.P.S.C. to Report Q3, 2025 Results on Nov 10, 2025 Mabanee Company K.P.S.C. announced that they will report Q3, 2025 results on Nov 10, 2025 Reported Earnings • Jul 31
Second quarter 2025 earnings released: EPS: د.ك0.011 (vs د.ك0.011 in 2Q 2024) Second quarter 2025 results: EPS: د.ك0.011 (in line with 2Q 2024). Revenue: د.ك34.4m (up 3.7% from 2Q 2024). Net income: د.ك16.9m (up 3.0% from 2Q 2024). Profit margin: 49% (in line with 2Q 2024). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Announcement • Jul 28
Mabanee Company K.P.S.C. to Report Q2, 2025 Results on Jul 30, 2025 Mabanee Company K.P.S.C. announced that they will report Q2, 2025 results at 9:00 AM, BT-Baghdad on Jul 30, 2025 Reported Earnings • May 14
First quarter 2025 earnings released: EPS: د.ك0.023 (vs د.ك0.011 in 1Q 2024) First quarter 2025 results: EPS: د.ك0.023 (up from د.ك0.011 in 1Q 2024). Revenue: د.ك34.1m (up 2.6% from 1Q 2024). Net income: د.ك33.4m (up 106% from 1Q 2024). Profit margin: 98% (up from 49% in 1Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year. Announcement • May 08
Mabanee Company K.P.S.C. to Report Q1, 2025 Results on May 11, 2025 Mabanee Company K.P.S.C. announced that they will report Q1, 2025 results at 12:40 PM, BT-Baghdad on May 11, 2025 Upcoming Dividend • Apr 01
Upcoming dividend of د.ك0.014 per share Eligible shareholders must have bought the stock before 08 April 2025. Payment date: 23 April 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Kuwaiti dividend payers (6.5%). Lower than average of industry peers (2.8%). Announcement • Feb 27
Mabanee Company K.P.S.C., Annual General Meeting, Mar 16, 2025 Mabanee Company K.P.S.C., Annual General Meeting, Mar 16, 2025, at 12:00 Arab Standard Time. Location: kuwait city Kuwait Declared Dividend • Feb 26
Dividend of د.ك0.014 announced Dividend of د.ك0.014 is the same as last year. Ex-date: 8th April 2025 Payment date: 23rd April 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 30%. Cash payout ratio: 27%. Announcement • Feb 25
Mabanee Company K.P.S.C. announces Annual dividend, payable on April 23, 2025 Mabanee Company K.P.S.C. announced Annual dividend of KWD 0.0140 per share payable on April 23, 2025, ex-date on April 08, 2025 and record date on April 10, 2025. Reported Earnings • Jan 29
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: د.ك0.047 (in line with FY 2023). Revenue: د.ك132.8m (up 2.5% from FY 2023). Net income: د.ك65.2m (flat on FY 2023). Profit margin: 49% (down from 50% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.5%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Announcement • Jan 23
Mabanee Company K.P.S.C. to Report Fiscal Year 2024 Results on Jan 27, 2025 Mabanee Company K.P.S.C. announced that they will report fiscal year 2024 results on Jan 27, 2025 Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: د.ك0.012 (vs د.ك0.011 in 3Q 2023) Third quarter 2024 results: EPS: د.ك0.012 (up from د.ك0.011 in 3Q 2023). Revenue: د.ك32.4m (up 5.5% from 3Q 2023). Net income: د.ك16.6m (up 4.4% from 3Q 2023). Profit margin: 51% (in line with 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Announcement • Nov 01
Mabanee Company K.P.S.C. to Report Q3, 2024 Results on Nov 07, 2024 Mabanee Company K.P.S.C. announced that they will report Q3, 2024 results on Nov 07, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: د.ك0.012 (vs د.ك0.011 in 2Q 2023) Second quarter 2024 results: EPS: د.ك0.012 (up from د.ك0.011 in 2Q 2023). Revenue: د.ك33.0m (up 7.3% from 2Q 2023). Net income: د.ك16.4m (up 3.2% from 2Q 2023). Profit margin: 50% (down from 52% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: د.ك0.012 (vs د.ك0.011 in 1Q 2023) First quarter 2024 results: EPS: د.ك0.012 (up from د.ك0.011 in 1Q 2023). Revenue: د.ك33.1m (up 7.0% from 1Q 2023). Net income: د.ك16.3m (up 2.5% from 1Q 2023). Profit margin: 49% (down from 51% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 7.5% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 19
Upcoming dividend of د.ك0.014 per share Eligible shareholders must have bought the stock before 26 March 2024. Payment date: 09 April 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Kuwaiti dividend payers (6.5%). Lower than average of industry peers (2.5%). Declared Dividend • Mar 09
Dividend of د.ك0.014 announced Shareholders will receive a dividend of د.ك0.014. Ex-date: 26th March 2024 Payment date: 9th April 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 27%. Cash payout ratio: 21%. Announcement • Feb 14
Mabanee Company K.P.S.C., Annual General Meeting, Mar 07, 2024 Mabanee Company K.P.S.C., Annual General Meeting, Mar 07, 2024, at 06:30 Coordinated Universal Time. Location: the avenues, waldorf astoria hotel Kuwait City Kuwait Agenda: To discuss and approve the report of the board of directors on the company's activities and financial; position for the year ended of 31 December 2023; and to discuss other matters. Reported Earnings • Feb 07
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: د.ك0.049 (up from د.ك0.046 in FY 2022). Revenue: د.ك129.3m (up 14% from FY 2022). Net income: د.ك65.0m (up 6.4% from FY 2022). Profit margin: 50% (down from 54% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates by 1.5%. Revenue is forecast to stay flat during the next 2 years compared to a 8.5% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Feb 02
Mabanee Company K.P.S.C. to Report Q4, 2023 Results on Feb 06, 2024 Mabanee Company K.P.S.C. announced that they will report Q4, 2023 results on Feb 06, 2024 Buy Or Sell Opportunity • Jan 23
Now 21% overvalued Over the last 90 days, the stock has fallen 3.6% to د.ك0.80. The fair value is estimated to be د.ك0.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 29%. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: د.ك0.012 (vs د.ك0.012 in 3Q 2022) Third quarter 2023 results: EPS: د.ك0.012 (in line with 3Q 2022). Revenue: د.ك30.6m (up 3.9% from 3Q 2022). Net income: د.ك15.9m (up 2.4% from 3Q 2022). Profit margin: 52% (in line with 3Q 2022). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: د.ك0.012 (vs د.ك0.012 in 2Q 2022) Second quarter 2023 results: EPS: د.ك0.012 (in line with 2Q 2022). Revenue: د.ك30.5m (up 14% from 2Q 2022). Net income: د.ك15.9m (up 4.2% from 2Q 2022). Profit margin: 52% (down from 57% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 11
First quarter 2023 earnings released: EPS: د.ك0.012 (vs د.ك0.011 in 1Q 2022) First quarter 2023 results: EPS: د.ك0.012 (up from د.ك0.011 in 1Q 2022). Revenue: د.ك30.9m (up 15% from 1Q 2022). Net income: د.ك15.9m (up 9.3% from 1Q 2022). Profit margin: 51% (down from 54% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 28
Upcoming dividend of د.ك0.014 per share at 1.9% yield Eligible shareholders must have bought the stock before 04 April 2023. Payment date: 11 April 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Kuwaiti dividend payers (6.7%). Lower than average of industry peers (2.7%). Reported Earnings • Feb 01
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: د.ك0.049 (up from د.ك0.045 in FY 2021). Revenue: د.ك113.9m (up 13% from FY 2021). Net income: د.ك61.1m (up 10% from FY 2021). Profit margin: 54% (down from 55% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.6%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. No experienced directors. 6 highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Azzam Al Fulaij was the last independent director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: د.ك0.012 (vs د.ك0.011 in 3Q 2021) Third quarter 2022 results: EPS: د.ك0.012 (up from د.ك0.011 in 3Q 2021). Revenue: د.ك29.3m (up 16% from 3Q 2021). Net income: د.ك15.5m (up 9.1% from 3Q 2021). Profit margin: 53% (down from 56% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: د.ك0.012 (vs د.ك0.011 in 2Q 2021) Second quarter 2022 results: EPS: د.ك0.012 (up from د.ك0.011 in 2Q 2021). Revenue: د.ك26.6m (up 8.0% from 2Q 2021). Net income: د.ك15.2m (up 14% from 2Q 2021). Profit margin: 57% (up from 54% in 2Q 2021). Over the next year, revenue is forecast to grow 9.4%, compared to a 18% growth forecast for the industry in Kuwait. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • May 11
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: د.ك0.012 (up from د.ك0.011 in 1Q 2021). Revenue: د.ك26.7m (up 11% from 1Q 2021). Net income: د.ك14.5m (up 11% from 1Q 2021). Profit margin: 54% (in line with 1Q 2021). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Over the next year, revenue is forecast to grow 8.2%, compared to a 18% growth forecast for the industry in Kuwait. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target increased to د.ك1.50 Up from د.ك0.93, the current price target is an average from 2 analysts. New target price is 79% above last closing price of د.ك0.84. Stock is up 28% over the past year. The company is forecast to post earnings per share of د.ك0.044 for next year compared to د.ك0.045 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. No experienced directors. 6 highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Azzam Al Fulaij was the last independent director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 19
Price target increased to د.ك1.50 Up from د.ك0.93, the current price target is provided by 1 analyst. New target price is 76% above last closing price of د.ك0.85. Stock is up 28% over the past year. The company is forecast to post earnings per share of د.ك0.047 for next year compared to د.ك0.045 last year. Upcoming Dividend • Mar 28
Upcoming dividend of د.ك0.014 per share Eligible shareholders must have bought the stock before 04 April 2022. Payment date: 11 April 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Kuwaiti dividend payers (5.2%). Lower than average of industry peers (2.3%). Upcoming Dividend • Mar 21
Upcoming dividend of د.ك0.014 per share Eligible shareholders must have bought the stock before 28 March 2022. Payment date: 10 April 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Kuwaiti dividend payers (5.3%). Lower than average of industry peers (2.3%). Reported Earnings • Feb 07
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: د.ك0.047 (up from د.ك0.018 in FY 2020). Revenue: د.ك100.5m (up 53% from FY 2020). Net income: د.ك55.4m (up 157% from FY 2020). Profit margin: 55% (up from 33% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 5.4%. Over the next year, revenue is forecast to grow 15%, compared to a 17% growth forecast for the industry in Kuwait. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS د.ك0.012 (vs د.ك0.007 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: د.ك25.2m (up 42% from 3Q 2020). Net income: د.ك14.2m (up 80% from 3Q 2020). Profit margin: 56% (up from 45% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS د.ك0.011 (vs د.ك0.007 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: د.ك24.6m (up د.ك22.7m from 2Q 2020). Net income: د.ك13.4m (up د.ك21.1m from 2Q 2020). Profit margin: 54% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Major Estimate Revision • May 10
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from د.ك0.047 to د.ك0.04. Revenue forecast unchanged from د.ك99.5m at last update. Net income forecast to grow 143% next year vs 23% growth forecast for Real Estate industry in Kuwait. Consensus price target of د.ك0.73 unchanged from last update. Share price rose 6.8% to د.ك0.76 over the past week. Price Target Changed • Mar 02
Price target raised to د.ك0.73 Up from د.ك0.65, the current price target is provided by 1 analyst. The new target price is close to the current share price of د.ك0.70. As of last close, the stock is down 8.2% over the past year. Reported Earnings • Feb 17
Full year 2020 earnings released: EPS د.ك0.02 (vs د.ك0.051 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.ك65.8m (down 32% from FY 2019). Net income: د.ك21.6m (down 62% from FY 2019). Profit margin: 33% (down from 58% in FY 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 17
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.2%. Earnings per share (EPS) missed analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 51%, compared to a 27% growth forecast for the Real Estate industry in Kuwait. Is New 90 Day High Low • Jan 16
New 90-day high: د.ك0.71 The company is up 2.0% from its price of د.ك0.70 on 18 October 2020. The Kuwaiti market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Real Estate industry, which is up 4.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS د.ك0.007 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: د.ك17.7m (down 28% from 3Q 2019). Net income: د.ك7.91m (down 46% from 3Q 2019). Profit margin: 45% (down from 59% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) missed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 44%, compared to a 25% growth forecast for the Real Estate industry in Kuwait. 
