Income Statement Apex Investment

Stocks

APEX

AER000401011

Construction Materials

Market Closed - Abu Dhabi Securities Exchange 06:55:00 2026-09-11 EDT			5-day change	1st Jan Change
3.830 ^AED	-1.29%		+10.69%	+5.80%

07-27	Apex Investment Swings to H1 Loss; Revenue Up	MT
07-27	Apex Investment PSC Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI

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Published financial data: APEX INVESTMENT

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (AED)	2022 (AED)	2023 (AED)	2024 (AED)	2025 (AED)
Revenues	167M	820M	723M	853M	865M
Total Revenues	167M	820M	723M	853M	865M
Cost of Goods Sold, Total	172M	597M	599M	661M	677M
Gross Profit	-5.62M	224M	125M	191M	188M
Selling General & Admin Expenses, Total	10.36M	53.37M	64.69M	68.99M	81.03M
Provision for Bad Debts	724K	12.26M	-11.1M	10.51M	5.56M
Depreciation & Amortization - (IS)	451K	541K	1.04M	1.19M	1.57M
Amortization of Goodwill and Intangible Assets - (IS)	288K	-	-	-	2.57M
Other Operating Expenses	1.34M	-	-9.91M	-197K	-1.79M
Other Operating Expenses, Total	13.17M	66.18M	44.71M	80.49M	88.93M
Operating Income	-18.79M	157M	79.84M	111M	99.51M
Interest Expense, Total	-2.4M	-1.41M	-1.91M	-1.56M	-1.33M
Interest And Investment Income	791K	784K	940K	37.56M	27.96M
Net Interest Expenses	-1.61M	-622K	-974K	36M	26.63M
Income (Loss) On Equity Invest.	-2.86M	-6.5M	-7.87M	-2.67M	2.98M
Currency Exchange Gains (Loss)	-367K	-	-	-	-
Other Non Operating Income (Expenses)	-2.22M	3.01M	-	-	-
EBT, Excl. Unusual Items	-25.84M	153M	71M	144M	129M
Gain (Loss) On Sale Of Investments	28.8M	33.92M	-129M	-57.9M	-81.3M
Gain (Loss) On Sale Of Assets	26.84K	-	-	-	-
EBT, Incl. Unusual Items	2.98M	187M	-58.43M	86.3M	47.83M
Income Tax Expense	-	-	-	10.65M	9.83M
Earnings From Continuing Operations	2.98M	187M	-58.43M	75.64M	38M
Net Income to Company	2.98M	187M	-58.43M	75.64M	38M
Net Income - (IS)	2.98M	187M	-58.43M	75.64M	38M
Net Income to Common Incl Extra Items	2.98M	187M	-58.43M	75.64M	38M
Net Income to Common Excl. Extra Items	2.98M	187M	-58.43M	75.64M	38M
Per Share Items
Net EPS - Basic	0.01	0.06	-0.02	0.02	0.01
Basic EPS - Continuing Operations	0.01	0.06	-0.02	0.02	0.01
Basic Weighted Average Shares Outstanding	503M	3.06B	3.55B	3.55B	3.55B
Net EPS - Diluted	0.01	0.06	-0.02	0.02	0.01
Diluted EPS - Continuing Operations	0.01	0.06	-0.02	0.02	0.01
Diluted Weighted Average Shares Outstanding	503M	3.06B	3.55B	3.55B	3.55B
Normalized Basic EPS	-0.03	0.03	0.01	0.03	0.02
Normalized Diluted EPS	-0.03	0.03	0.01	0.03	0.02
Dividend Per Share	-	-	-	-	-
Payout Ratio	3.33	-	-	-	-
Supplemental Items
EBITDA	-3.8M	180M	112M	148M	140M
EBITA	-18.79M	157M	79.88M	111M	102M
EBIT	-18.79M	157M	79.84M	111M	99.51M
Effective Tax Rate - (Ratio)	-	-	-	12.35	20.55
Total Current Taxes	-	-	-	13.14M	14.46M
Total Deferred Taxes	-	-	-	-2.49M	-4.63M
Normalized Net Income	-16.15M	95.79M	44.38M	90.12M	80.71M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	-	8.38K	118K	119K	340K
Non-Cash Pension Expense	368K	2.43M	4.04M	4.65M	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	1.89M	916K	4.17M	3.96M
General and Administrative Expenses	-	12.61M	10.09M	16.8M	17.32M
Maintenance & Repair Expenses, Total	11.61M	14.58M	13.85M	15.45M	11.51M

Fiscal Period: December	2021 (AED)	2022 (AED)	2023 (AED)	2024 (AED)	2025 (AED)
Assets
Cash And Equivalents	38.48K	143M	608M	670M	591M
Short Term Investments	-	13.47M	17.24M	19.29M	17.41M
Trading Asset Securities, Total	41.3M	587M	451M	517M	436M
Total Cash And Short Term Investments	41.34M	743M	1.08B	1.21B	1.04B
Accounts Receivable, Total	45.1M	768M	378M	309M	424M
Other Receivables	2.09M	2.58M	21.27M	6.6M	12.47M
Notes Receivable	-	74.86M	75.54M	75.97M	-
Total Receivables	47.18M	845M	475M	392M	437M
Inventory	55.11M	57.79M	76.22M	59.83M	124M
Prepaid Expenses	2.57M	10.55M	9.16M	9.67M	13.44M
Other Current Assets, Total	3.68M	3.73M	7.58M	44.59M	14.35M
Total Current Assets	150M	1.66B	1.64B	1.71B	1.63B
Gross Property Plant And Equipment	868M	961M	986M	1B	1.36B
Accumulated Depreciation	-540M	-589M	-621M	-653M	-690M
Net Property Plant And Equipment	328M	372M	365M	347M	674M
Long-term Investments	247M	221M	183M	41.99M	43.54M
Goodwill	-	-	-	-	3.27M
Other Intangibles, Total	183K	6.95M	6.91M	4.62M	213M
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	-	-	-	1.88M	6.52M
Other Long-Term Assets, Total	-	-	-	130M	-
Total Assets	724M	2.26B	2.2B	2.24B	2.57B
Liabilities
Accounts Payable, Total	55.92M	145M	148M	135M	255M
Accrued Expenses, Total	6.08M	30.73M	50.24M	58.27M	107M
Short-term Borrowings	10.46M	15.46M	21.6M	-	-
Current Portion of Long-Term Debt	8.11M	1.16M	-	-	-
Current Portion of Leases	-	15.47K	17.47K	15.47K	1.9M
Current Income Taxes Payable	-	-	-	12.1M	14.46M
Unearned Revenue Current, Total	-	-	-	2.07M	2.07M
Other Current Liabilities	8.06M	13.14M	24.32M	9.8M	86.92M
Total Current Liabilities	88.63M	205M	244M	217M	468M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	-	1.53M	1.57M	1.49M	25.21M
Pension & Other Post Retirement Benefits	1.11M	5.62M	8.1M	11.02M	15.53M
Deferred Tax Liability Non Current	-	-	-	424K	20.24M
Total Liabilities	89.74M	212M	253M	230M	529M
Common Stock, Total	503M	3.55B	3.55B	3.55B	3.55B
Retained Earnings	-2.37M	185M	126M	285M	323M
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	134M	-1.69B	-1.73B	-1.83B	-1.83B
Total Common Equity	634M	2.05B	1.95B	2.01B	2.04B
Total Equity	634M	2.05B	1.95B	2.01B	2.04B
Total Liabilities And Equity	724M	2.26B	2.2B	2.24B	2.57B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	503M	3.55B	3.55B	3.55B	3.55B
ECS Total Common Shares Outstanding	503M	3.55B	3.55B	3.55B	3.55B
Book Value / Share	1.26	0.58	0.55	0.57	0.58
Tangible Book Value	634M	2.04B	1.94B	2B	1.83B
Tangible Book Value Per Share	1.26	0.57	0.55	0.56	0.51
Total Debt	18.57M	18.16M	23.2M	1.51M	27.11M
Net Debt	-22.77M	-725M	-1.05B	-1.2B	-1.02B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.11M	5.62M	8.1M	11.02M	-
Equity Method Investments, Total	35.53M	32.71M	38.8M	36.13M	39.12M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	9.21M	17.7M	25.87M	23.12M	45.45M
Inventories - Work In Process, Total	12.88M	6.63M	20.16M	4.63M	35.51M
Inventories - Finished Goods, Total	3.72M	7.34M	3.54M	5.21M	11.02M
Inventories - Others	33.91M	31.09M	32.63M	31.84M	37.81M
Buildings, Total	29.41M	35.18M	38.63M	37.3M	52.62M
Machinery, Total	817M	908M	930M	946M	1.09B
Accumulated Allowance for Doubtful Accounts (Supple)	13.05M	36.78M	25.66M	36.17M	41.72M

Fiscal Period: December	2021 (AED)	2022 (AED)	2023 (AED)	2024 (AED)	2025 (AED)
Net Income	2.98M	187M	-58.43M	75.64M	38M
Depreciation & Amortization - CF	14.99M	23.1M	32.72M	37.81M	39.55M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	41.38K	26.08K	2.57M
Depreciation & Amortization, Total	14.99M	23.1M	32.76M	37.83M	42.12M
Amortization of Deferred Charges, Total - (CF)	288K	111K	-	-	46.48K
(Gain) Loss From Sale Of Asset	-26.84K	-48.47K	-9.64K	-9.64K	-24.2K
(Gain) Loss on Sale of Investments - (CF)	-29.39M	-33.92M	129M	57.9M	81.3M
Asset Writedown & Restructuring Costs	-	-34.32K	882K	3.24M	1.35M
(Income) Loss On Equity Investments - (CF)	2.86M	6.5M	7.87M	2.67M	-2.98M
Provision and Write-off of Bad Debts	-1.79M	12.26M	-11.1M	10.51M	5.56M
Other Operating Activities, Total	7.35M	3.06M	4.45M	6.1M	-1.25M
Change In Accounts Receivable	8.02M	142M	323M	-2.24M	-67.48M
Change In Inventories	5.01M	2.29M	-19.43M	17.39M	-64.99M
Change In Accounts Payable	-40.83M	-135M	21.04M	808K	150M
Change in Other Net Operating Assets	-1.67M	-27.49M	64.4M	17.88M	-13.93M
Cash from Operations	-32.21M	180M	495M	228M	168M
Capital Expenditure	-4.61M	-38.44M	-27.04M	-22.19M	-119M
Sale of Property, Plant, and Equipment	26.84K	447K	394K	1.47M	544K
Cash Acquisitions	-	25.43M	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-236K
Investment in Marketable and Equity Securities, Total	28.7M	-7.1M	-7.08M	-129M	-131M
Other Investing Activities, Total	204K	-14.35M	872K	8.03M	3.73M
Cash from Investing	24.33M	-34.02M	-32.85M	-142M	-246M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	3.51M	-	-	-	-
Total Debt Issued	3.51M	-	-	-	-
Short Term Debt Repaid, Total	-	-6.95M	-1.16M	-	-
Long-Term Debt Repaid, Total	-	-	-	-205K	-347K
Total Debt Repaid	-	-6.95M	-1.16M	-205K	-347K
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-99.41K	-	-	-	-
Common & Preferred Stock Dividends Paid	-99.41K	-	-	-	-
Other Financing Activities, Total	-2.4M	-1.4M	-1.8M	-1.44M	-1.33M
Cash from Financing	1.01M	-8.35M	-2.95M	-1.65M	-1.68M
Net Change in Cash	-6.87M	138M	459M	84.04M	-79.15M
Supplemental Items
Cash Interest Paid	2.4M	1.4M	1.8M	1.44M	1.33M
Cash Income Tax Paid (Refund)	-	-	-	-	12.11M
Levered Free Cash Flow	-28.36M	-608M	437M	141M	150M
Unlevered Free Cash Flow	-26.86M	-607M	438M	142M	151M
Change In Net Working Capital	25.78M	690M	-383M	-57.49M	-166M
Net Debt Issued / Repaid	3.51M	-6.95M	-1.16M	-205K	-347K

Fiscal Period: December	2021 (AED)	2022 (AED)	2023 (AED)	2024 (AED)	2025 (AED)
Profitability
Return on Assets	-1.76	6.59	2.24	3.12	2.59
Return on Total Capital	-2.04	7.23	2.47	3.48	3.05
Return On Equity %	0.53	13.95	-2.93	3.83	1.88
Return on Common Equity	0.53	13.95	-2.93	3.83	1.88
Margin Analysis
Gross Profit Margin %	-3.37	27.25	17.22	22.44	21.78
SG&A Margin	6.21	6.51	8.94	8.09	9.37
EBITDA Margin %	-2.28	21.99	15.49	17.37	16.22
EBITA Margin %	-11.27	19.19	11.04	13	11.8
EBIT Margin %	-11.27	19.19	11.04	13	11.5
Income From Continuing Operations Margin %	1.79	22.82	-8.08	8.87	4.39
Net Income Margin %	1.79	22.82	-8.08	8.87	4.39
Net Avail. For Common Margin %	1.79	22.82	-8.08	8.87	4.39
Normalized Net Income Margin	-9.69	11.68	6.13	10.57	9.33
Levered Free Cash Flow Margin	-17.01	-74.12	60.42	16.59	17.37
Unlevered Free Cash Flow Margin	-16.11	-74.01	60.58	16.7	17.46
Asset Turnover
Asset Turnover	0.25	0.55	0.32	0.38	0.36
Fixed Assets Turnover	0.5	2.35	1.96	2.4	1.69
Receivables Turnover (Average Receivables)	3.44	2.02	1.26	2.48	2.36
Inventory Turnover (Average Inventory)	2.93	10.57	8.94	9.72	7.37
Short Term Liquidity
Current Ratio	1.69	8.1	6.74	7.89	3.49
Quick Ratio	1	7.38	6.05	7.01	3.17
Operating Cash Flow to Current Liabilities	-0.36	0.88	2.03	1.05	0.36
Days Sales Outstanding (Average Receivables)	106.25	180.82	289.1	147.52	154.72
Days Outstanding Inventory (Average Inventory)	124.45	34.53	40.83	37.64	49.55
Average Days Payable Outstanding	126.5	61.04	86.37	80.14	96.02
Cash Conversion Cycle (Average Days)	104.2	154.31	243.57	105.01	108.24
Long Term Solvency
Total Debt/Equity	2.93	0.89	1.19	0.08	1.33
Total Debt / Total Capital	2.84	0.88	1.18	0.07	1.31
LT Debt/Equity	-	0.07	0.08	0.07	1.23
Long-Term Debt / Total Capital	-	0.07	0.08	0.07	1.22
Total Liabilities / Total Assets	12.39	9.39	11.53	10.28	20.55
EBIT / Interest Expense	-7.83	111.95	41.73	71.1	74.69
EBITDA / Interest Expense	-1.58	128.38	58.85	95.36	106.31
(EBITDA - Capex) / Interest Expense	-3.5	101.03	44.72	81.13	17.13
Total Debt / EBITDA	-4.89	0.1	0.21	0.01	0.19
Net Debt / EBITDA	5.99	-4.02	-9.35	-8.1	-7.18
Total Debt / (EBITDA - Capex)	-2.21	0.13	0.27	0.01	1.19
Net Debt / (EBITDA - Capex)	2.71	-5.1	-12.3	-9.52	-44.57
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	8.93	391.96	-11.8	17.88	1.44
Gross Profit, 1 Yr. Growth %	66.03	-4.08K	-44.29	53.64	-1.52
EBITDA, 1 Yr. Growth %	-83.22	-2.4K	-38.95	43.1	-5.27
EBITA, 1 Yr. Growth %	-50.32	-789.05	-50.23	55.4	-7.93
EBIT, 1 Yr. Growth %	-50.32	-789.05	-50.22	55.45	-10.25
Earnings From Cont. Operations, 1 Yr. Growth %	-105.81	6.18K	-131.22	-229.45	-49.76
Net Income, 1 Yr. Growth %	-105.81	6.18K	-131.22	-229.45	-49.76
Normalized Net Income, 1 Yr. Growth %	-49.43	-680.46	-53.68	103.09	-10.45
Diluted EPS Before Extra, 1 Yr. Growth %	-105.81	932.6	-126.88	-229.45	-49.77
Accounts Receivable, 1 Yr. Growth %	-13.24	1.6K	-50.7	-18.35	37.35
Inventory, 1 Yr. Growth %	-11.73	4.87	31.88	-21.5	107.09
Net Property, Plant and Equip., 1 Yr. Growth %	-3.32	13.56	-1.87	-4.94	94.26
Total Assets, 1 Yr. Growth %	18.95	212.16	-2.72	1.76	14.98
Tangible Book Value, 1 Yr. Growth %	32.17	221.87	-5.03	3.33	-8.75
Common Equity, 1 Yr. Growth %	32.07	222.87	-5.02	3.2	1.82
Cash From Operations, 1 Yr. Growth %	-148.36	-658.69	175.02	-53.98	-26.15
Capital Expenditures, 1 Yr. Growth %	233.01	734.07	-29.66	-17.91	435.33
Levered Free Cash Flow, 1 Yr. Growth %	-132.33	1.87K	-172.12	-67.24	6.22
Unlevered Free Cash Flow, 1 Yr. Growth %	-129.67	1.97K	-172.42	-67.1	6.08
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.19	131.49	108.3	1.96	9.35
Gross Profit, 2 Yr. CAGR %	-59.43	712.4	370.61	-7.48	23
EBITDA, 2 Yr. CAGR %	-57.07	182.29	277.81	-10.16	16.42
EBITA, 2 Yr. CAGR %	-38.62	103.99	87.01	-16.88	19.6
EBIT, 2 Yr. CAGR %	-38.62	103.99	86.97	-16.86	18.12
Earnings From Cont. Operations, 2 Yr. CAGR %	-76.87	90.97	342.74	-36.43	-19.36
Net Income, 2 Yr. CAGR %	-76.87	90.97	342.74	-36.43	-19.36
Normalized Net Income, 2 Yr. CAGR %	-31.9	73.17	63.98	-3.01	34.86
Diluted EPS Before Extra, 2 Yr. CAGR %	-76.87	-22.57	66.61	-41.01	-19.36
Accounts Receivable, 2 Yr. CAGR %	-27.53	284.3	189.69	-36.55	5.9
Inventory, 2 Yr. CAGR %	0.03	-3.79	17.6	1.75	27.5
Net Property, Plant and Equip., 2 Yr. CAGR %	-3.62	4.78	5.56	-3.42	35.89
Total Assets, 2 Yr. CAGR %	9.24	92.69	74.26	-0.51	8.17
Tangible Book Value, 2 Yr. CAGR %	10.58	106.25	74.83	-0.94	-2.9
Common Equity, 2 Yr. CAGR %	10.51	106.5	75.12	-1	2.51
Cash From Operations, 2 Yr. CAGR %	54.9	64.37	291.98	12.5	-41.7
Capital Expenditures, 2 Yr. CAGR %	-27.64	427.03	142.21	-24.01	109.63
Levered Free Cash Flow, 2 Yr. CAGR %	0.87	163.26	276.16	-51.69	-41.01
Unlevered Free Cash Flow, 2 Yr. CAGR %	-2.76	158.95	286.17	-51.49	-40.93
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-10.06	65.29	67.82	72.3	1.79
Gross Profit, 3 Yr. CAGR %	-37.71	87.04	232.53	224.05	-5.54
EBITDA, 3 Yr. CAGR %	-54.57	106.07	70.41	166.24	-8.56
EBITA, 3 Yr. CAGR %	16.61	46.67	28.3	69.33	-14
EBIT, 3 Yr. CAGR %	16.61	46.67	28.28	69.32	-14.71
Earnings From Cont. Operations, 3 Yr. CAGR %	-47.14	49.78	4.42	193.86	-41.23
Net Income, 3 Yr. CAGR %	-47.14	49.78	4.42	193.86	-41.23
Normalized Net Income, 3 Yr. CAGR %	19.03	40.11	11.58	76.1	-5.55
Diluted EPS Before Extra, 3 Yr. CAGR %	-47.09	-17.95	-45.58	53.17	-44.08
Accounts Receivable, 3 Yr. CAGR %	-20.29	107.54	93.82	89.94	-17.92
Inventory, 3 Yr. CAGR %	-9.44	1.62	6.88	2.78	28.94
Net Property, Plant and Equip., 3 Yr. CAGR %	-4.29	1.8	2.51	1.94	21.92
Total Assets, 3 Yr. CAGR %	2.84	55.02	53.43	45.66	4.41
Tangible Book Value, 3 Yr. CAGR %	3.09	57.88	59.26	46.72	-3.62
Common Equity, 3 Yr. CAGR %	3.04	57.98	59.4	46.82	-0.07
Cash From Operations, 3 Yr. CAGR %	71.01	137.55	95.14	91.94	-2.23
Capital Expenditures, 3 Yr. CAGR %	-18.5	63.45	169.33	68.87	45.67
Levered Free Cash Flow, 3 Yr. CAGR %	59.87	179.41	70.8	66.06	-37.18
Unlevered Free Cash Flow, 3 Yr. CAGR %	59.3	177.51	69.17	69.22	-37.04
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-6.19	32.72	25.85	36.25	41.4
Gross Profit, 5 Yr. CAGR %	-29.75	97.61	39.86	41.14	123.39
EBITDA, 5 Yr. CAGR %	-37.85	65.56	22.56	48.35	44.03
EBITA, 5 Yr. CAGR %	11	58.61	46.47	17.33	21.97
EBIT, 5 Yr. CAGR %	11	58.61	46.46	17.32	21.35
Earnings From Cont. Operations, 5 Yr. CAGR %	-12.6	54.47	23.69	6.31	-5.84
Net Income, 5 Yr. CAGR %	-12.6	54.47	23.69	6.31	-5.84
Normalized Net Income, 5 Yr. CAGR %	22.35	62.01	35.88	20.94	20.37
Diluted EPS Before Extra, 5 Yr. CAGR %	-12.24	7.66	-16.29	-28.09	-36.31
Accounts Receivable, 5 Yr. CAGR %	-8.44	61.24	33.57	29.19	52.19
Inventory, 5 Yr. CAGR %	-5.32	-8.92	0.54	1.67	14.69
Net Property, Plant and Equip., 5 Yr. CAGR %	-3.31	-1.07	-0.46	-0.32	14.75
Total Assets, 5 Yr. CAGR %	2.66	28.31	27	29.82	33.41
Tangible Book Value, 5 Yr. CAGR %	1.53	29.83	27.34	31.02	30.67
Common Equity, 5 Yr. CAGR %	1.49	29.86	27.39	31.05	33.6
Cash From Operations, 5 Yr. CAGR %	5.01	70.48	138.3	76.16	20.36
Capital Expenditures, 5 Yr. CAGR %	-17.63	2.11	26	20.32	143.64
Levered Free Cash Flow, 5 Yr. CAGR %	23.04	103.75	129	38.39	11.36
Unlevered Free Cash Flow, 5 Yr. CAGR %	20.77	105.07	131.13	38.05	10.78