Income Statement First Investment Company K.S.C.P.

Stocks

ALOLA

KW0EQ0203012

Investment Management & Fund Operators

End-of-day quote Kuwait S.E. 2026-09-17			5-day change	1st Jan Change
0.1360 ^KWD	+1.49%		0.00%	+9.68%

08-11	First Investment Company K.S.C.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-06	First Investment Company K.S.C.P. Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: FIRST INVESTMENT COMPANY K.S.C.P.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (KWD)	2022 (KWD)	2023 (KWD)	2024 (KWD)	2025 (KWD)
Revenues	1.92M	2.19M	2.17M	2.05M	1.54M
Gain (Loss) on Sale of Investment, Total (Rev)	110K	1.54M	3.01K	13.31K	636K
Interest And Invest. Income (Rev)	156K	144K	166K	155K	589K
Other Revenues, Total	-245K	814K	261K	307K	-69.44K
Total Revenues	1.94M	4.69M	2.6M	2.52M	2.7M
Cost of Goods Sold, Total	329K	435K	466K	467K	433K
Gross Profit	1.61M	4.25M	2.13M	2.06M	2.27M
Selling General & Admin Expenses, Total	1.35M	1.31M	1.06M	1.05M	2.63M
Depreciation & Amortization - (IS)	230K	197K	206K	206K	160K
Amortization of Goodwill and Intangible Assets - (IS)	59.77K	59.77K	59.77K	59.77K	59.77K
Other Operating Expenses	-	-	-	-	87.56K
Other Operating Expenses, Total	1.64M	1.56M	1.33M	1.31M	2.94M
Operating Income	-31.77K	2.69M	805K	741K	-675K
Interest Expense, Total	-191K	-188K	-175K	-126K	-12.02K
Net Interest Expenses	-191K	-188K	-175K	-126K	-12.02K
Currency Exchange Gains (Loss)	-4.14K	18.31K	3.97K	-4.04K	9.63K
Other Non Operating Income (Expenses)	-726K	-728K	-853K	-946K	-547K
EBT, Excl. Unusual Items	-953K	1.79M	-219K	-334K	-1.22M
Impairment of Goodwill	-	-	-	-	-190K
Gain (Loss) On Sale Of Investments	-	-	-	-	-1.25M
Gain (Loss) On Sale Of Assets	-19.58K	-	18.32K	-279K	-
Asset Writedown	-	-	593K	-	-139K
Legal Settlements	-	-24.13M	-	2.8M	13.32M
Other Unusual Items	-	-	-	-48.04K	-
EBT, Incl. Unusual Items	-973K	-22.34M	392K	2.14M	10.51M
Income Tax Expense	-	-	-	15.87K	28.21K
Earnings From Continuing Operations	-973K	-22.34M	392K	2.12M	10.48M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	-973K	-22.34M	392K	2.12M	10.48M
Minority Interest	-170K	-179K	-179K	206K	8.94K
Net Income - (IS)	-1.14M	-22.52M	213K	2.33M	10.49M
Net Income to Common Incl Extra Items	-1.14M	-22.52M	213K	2.33M	10.49M
Net Income to Common Excl. Extra Items	-1.14M	-22.52M	213K	2.33M	10.49M
Per Share Items
Net EPS - Basic	-0	-0.05	0	0.01	0.02
Basic EPS - Continuing Operations	-0	-0.05	0	0.01	0.02
Basic Weighted Average Shares Outstanding	446M	446M	446M	446M	446M
Net EPS - Diluted	-0	-0.05	0	0.01	0.02
Diluted EPS - Continuing Operations	-0	-0.05	0	0.01	0.02
Diluted Weighted Average Shares Outstanding	446M	446M	446M	446M	446M
Normalized Basic EPS	-0	0	-0	-0	-0
Normalized Diluted EPS	-0	0	-0	-0	-0
Payout Ratio	-0.14	-0	1.27	0.12	0
Supplemental Items
EBITDA	295K	3M	1.14M	1.07M	-385K
EBITA	28K	2.75M	865K	801K	-615K
EBIT	-31.77K	2.69M	805K	741K	-675K
Effective Tax Rate - (Ratio)	-	-	-	0.74	0.27
Normalized Net Income	-766K	941K	-316K	-3.27K	-756K
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
General and Administrative Expenses	-	-	-	-	1.46M

Fiscal Period: December	2021 (KWD)	2022 (KWD)	2023 (KWD)	2024 (KWD)	2025 (KWD)
Assets
Cash And Equivalents	10.48M	7.95M	7.23M	9.31M	10.91M
Trading Asset Securities, Total	346K	175K	172K	173K	170K
Total Cash And Short Term Investments	10.83M	8.12M	7.4M	9.49M	11.08M
Accounts Receivable, Total	-	-	-	-	-
Other Receivables	-	-	-	-	-
Total Receivables	-	-	-	-	-
Inventory	204K	270K	398K	387K	371K
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	11.03M	8.39M	7.8M	9.87M	11.45M
Net Property Plant And Equipment	2.64M	2.49M	2.33M	2.09M	2.02M
Long-term Investments	48.81M	56.77M	51.76M	57.79M	39.24M
Goodwill	-	-	-	-	-
Other Intangibles, Total	728K	668K	608K	549K	299K
Other Long-Term Assets, Total	12.11M	15.26M	16.04M	9.09M	8.83M
Total Assets	75.31M	83.58M	78.54M	79.39M	61.84M
Liabilities
Accrued Expenses, Total	-	-	-	-	1.75M
Current Portion of Long-Term Debt	375K	458K	511K	69.89K	72.77K
Current Income Taxes Payable	-	-	-	-	731K
Other Current Liabilities	16.61M	37.37M	35.15M	42.98M	3.19M
Total Current Liabilities	16.98M	37.83M	35.66M	43.05M	5.74M
Long-Term Debt	2.51M	2.2M	1.7M	187K	114K
Long-Term Leases	-	-	-	-	116K
Pension & Other Post Retirement Benefits	973K	988K	1.07M	1.11M	890K
Other Non Current Liabilities	3.93M	15.05M	15.92M	6.28M	11.34M
Total Liabilities	24.4M	56.07M	54.35M	50.64M	18.2M
Common Stock, Total	44.6M	44.6M	44.6M	44.6M	44.6M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	4.4M	-18.3M	-18.09M	-15.76M	-11.13M
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	-734K	-1.48M	-5.18M	-271K	10.12M
Total Common Equity	48.26M	24.82M	21.32M	28.57M	43.59M
Minority Interest	2.65M	2.69M	2.86M	188K	48.77K
Total Equity	50.91M	27.51M	24.19M	28.75M	43.64M
Total Liabilities And Equity	75.31M	83.58M	78.54M	79.39M	61.84M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	446M	446M	446M	446M	446M
ECS Total Common Shares Outstanding	446M	446M	446M	446M	446M
Book Value / Share	0.11	0.06	0.05	0.06	0.1
Tangible Book Value	47.54M	24.15M	20.71M	28.02M	43.29M
Tangible Book Value Per Share	0.11	0.05	0.05	0.06	0.1
Total Debt	2.89M	2.66M	2.21M	257K	303K
Net Debt	-7.94M	-5.46M	-5.19M	-9.23M	-10.78M
Minority Interest, Total (Incl. Fin. Div)	2.65M	2.69M	2.86M	188K	48.77K
Equity Method Investments, Total	19.77M	19.91M	18.52M	18.66M	16.62M
Account Code - Inventory Valuation	5	5	5	5	3

Fiscal Period: December	2021 (KWD)	2022 (KWD)	2023 (KWD)	2024 (KWD)	2025 (KWD)
Net Income	-1.14M	-22.52M	213K	2.33M	10.49M
Depreciation & Amortization - CF	267K	255K	273K	273K	230K
Amortization of Goodwill and Intangible Assets - (CF)	59.77K	59.77K	59.77K	59.77K	59.77K
Depreciation & Amortization, Total	327K	315K	333K	333K	290K
(Gain) Loss From Sale Of Asset	19.58K	-	9.13K	279K	-
(Gain) Loss on Sale of Investments - (CF)	-110K	-1.54M	-3.01K	-13.31K	617K
Asset Writedown & Restructuring Costs	-	-	-593K	-	329K
(Income) Loss On Equity Investments - (CF)	442K	-749K	-135K	-292K	388K
Provision and Write-off of Bad Debts	-	-	-	-	-
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	69.27K	23M	-875K	-2.94M	-13.98M
Change in Trading Asset Securities	425K	132K	6.27K	11.94K	7.51K
Change In Inventories	-22.47K	-65.74K	-128K	11.56K	15.09K
Change in Other Net Operating Assets	-443K	-1.11M	-223K	85.87K	2.42M
Cash from Operations	-435K	-2.53M	-1.4M	-200K	579K
Capital Expenditure	-485K	-110K	-122K	-31.83K	-26.77K
Sale of Property, Plant, and Equipment	-	-	4.58K	-	-
Cash Acquisitions	-	-	-	-	-
Divestitures	1.31M	-	-	-	-
Sale (Purchase) of Real Estate properties	-722K	-	-	6.86M	-
Investment in Marketable and Equity Securities, Total	-25.87K	-	943K	7.23K	470K
Other Investing Activities, Total	657K	542K	499K	-	782K
Cash from Investing	732K	431K	1.33M	6.83M	1.23M
Long-Term Debt Issued, Total	46.42K	76.74K	-	-	-
Total Debt Issued	46.42K	76.74K	-	-	-
Long-Term Debt Repaid, Total	-298K	-521K	-641K	-2.13M	-198K
Total Debt Repaid	-298K	-521K	-641K	-2.13M	-198K
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-1.62K	-244	-2.71K	-2.85K	-266
Common & Preferred Stock Dividends Paid	-1.62K	-244	-2.71K	-2.85K	-266
Other Financing Activities, Total	-1.14M	11.37K	-6.28K	-2.41M	-6.81K
Cash from Financing	-1.4M	-433K	-650K	-4.55M	-205K
Net Change in Cash	-1.1M	-2.54M	-720K	2.09M	1.6M
Supplemental Items
Cash Interest Paid	306K	211K	168K	120K	10.11K
Cash Income Tax Paid (Refund)	-	-	-	-	48.02K
Levered Free Cash Flow	15.37M	22.47M	-1.74M	8.53M	-36.05M
Unlevered Free Cash Flow	15.49M	22.58M	-1.63M	8.61M	-36.05M
Change In Net Working Capital	-15.67M	-20.7M	2.35M	-7.84M	35.89M
Net Debt Issued / Repaid	-251K	-444K	-641K	-2.13M	-198K

Fiscal Period: December	2021 (KWD)	2022 (KWD)	2023 (KWD)	2024 (KWD)	2025 (KWD)
Profitability
Return on Assets	-0.03	2.12	0.62	0.59	-0.6
Return on Total Capital	-0.04	4	1.78	1.67	-1.15
Return On Equity %	-1.95	-56.98	1.51	8.02	28.97
Return on Common Equity	-2.45	-61.63	0.92	9.33	29.09
Margin Analysis
Gross Profit Margin %	83.03	90.72	82.09	81.47	83.94
SG&A Margin	69.75	27.87	40.91	41.55	97.58
EBITDA Margin %	15.2	64.09	43.77	42.58	-14.28
EBITA Margin %	1.44	58.65	33.27	31.77	-22.8
EBIT Margin %	-1.64	57.38	30.97	29.4	-25.01
Income From Continuing Operations Margin %	-50.12	-476.67	15.06	84.15	388.54
Net Income Margin %	-58.86	-480.48	8.18	92.3	388.87
Net Avail. For Common Margin %	-58.86	-480.48	8.18	92.3	388.87
Normalized Net Income Margin	-39.44	20.09	-12.15	-0.13	-28.02
Levered Free Cash Flow Margin	791.99	479.32	-67	338.11	-1.34K
Unlevered Free Cash Flow Margin	798.14	481.82	-62.78	341.23	-1.34K
Asset Turnover
Asset Turnover	0.03	0.06	0.03	0.03	0.04
Fixed Assets Turnover	0.77	1.83	1.08	1.14	1.32
Receivables Turnover (Average Receivables)	-	-	-	-	-
Inventory Turnover (Average Inventory)	1.71	1.83	1.39	1.19	1.14
Short Term Liquidity
Current Ratio	0.65	0.22	0.22	0.23	2
Quick Ratio	0.64	0.21	0.21	0.22	1.93
Operating Cash Flow to Current Liabilities	-0.03	-0.07	-0.04	-0	0.1
Days Sales Outstanding (Average Receivables)	-	-	-	-	-
Days Outstanding Inventory (Average Inventory)	214.04	199.16	261.93	307.21	319.14
Long Term Solvency
Total Debt/Equity	5.67	9.67	9.12	0.89	0.69
Total Debt / Total Capital	5.37	8.82	8.36	0.88	0.69
LT Debt/Equity	4.93	8	7.01	0.65	0.53
Long-Term Debt / Total Capital	4.67	7.3	6.43	0.64	0.52
Total Liabilities / Total Assets	32.4	67.08	69.2	63.78	29.43
EBIT / Interest Expense	-0.17	14.32	4.59	5.89	-56.16
EBITDA / Interest Expense	1.55	16	6.48	8.54	-32.06
(EBITDA - Capex) / Interest Expense	-1	15.41	5.79	8.28	-34.29
Total Debt / EBITDA	9.78	0.89	1.94	0.24	-0.79
Net Debt / EBITDA	-26.9	-1.82	-4.56	-8.59	27.97
Total Debt / (EBITDA - Capex)	-15.19	0.92	2.17	0.25	-0.73
Net Debt / (EBITDA - Capex)	41.77	-1.89	-5.11	-8.85	26.15
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-17.47	141.46	-44.54	-3.65	6.98
Gross Profit, 1 Yr. Growth %	-20.86	163.83	-49.82	-4.52	10.22
EBITDA, 1 Yr. Growth %	-64.86	917.89	-62.13	-7.09	-150.04
EBITA, 1 Yr. Growth %	-94.86	9.72K	-68.54	-9.29	-223.71
EBIT, 1 Yr. Growth %	-106.55	-8.56K	-70.06	-9.96	-254.27
Earnings From Cont. Operations, 1 Yr. Growth %	-16.69	2.2K	-101.75	442.15	393.96
Net Income, 1 Yr. Growth %	28.96	1.87K	-100.94	994.42	350.71
Normalized Net Income, 1 Yr. Growth %	-1.17K	-222.98	-133.56	-98.93	2.17K
Diluted EPS Before Extra, 1 Yr. Growth %	29	1.87K	-100.94	994.34	350.75
Accounts Receivable, 1 Yr. Growth %	-	-	-	-	-
Inventory, 1 Yr. Growth %	12.35	32.16	47.37	-2.9	-3.9
Net Property, Plant and Equip., 1 Yr. Growth %	9.02	-5.48	-6.62	-10.36	-3.21
Total Assets, 1 Yr. Growth %	-1.61	10.98	-6.03	1.09	-22.11
Tangible Book Value, 1 Yr. Growth %	7.25	-49.2	-14.22	35.25	54.52
Common Equity, 1 Yr. Growth %	6.99	-48.58	-14.08	33.97	52.6
Cash From Operations, 1 Yr. Growth %	-75.74	482.66	-44.93	-85.66	-389.35
Capital Expenditures, 1 Yr. Growth %	37.69	-77.24	10.04	-73.8	-15.91
Levered Free Cash Flow, 1 Yr. Growth %	434.93	46.13	-107.75	-592.89	-620.72
Unlevered Free Cash Flow, 1 Yr. Growth %	410.46	45.77	-107.23	-631.1	-614.76
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	76.58	41.16	15.72	-26.64	1.53
Gross Profit, 2 Yr. CAGR %	27.73	44.5	15.07	-30.48	2.58
EBITDA, 2 Yr. CAGR %	-63.6	89.12	96.34	-40.21	-42.26
EBITA, 2 Yr. CAGR %	-89.6	124.68	455.82	-46.01	-16.55
EBIT, 2 Yr. CAGR %	-89.04	135.53	403.41	-47.49	-9.47
Earnings From Cont. Operations, 2 Yr. CAGR %	-85.76	337.39	-36.57	-69.18	417.5
Net Income, 2 Yr. CAGR %	-84.51	404.17	-56.85	-67.85	602.33
Normalized Net Income, 2 Yr. CAGR %	-35.69	263.29	-35.76	-94.11	57.57
Diluted EPS Before Extra, 2 Yr. CAGR %	-84.5	404.25	-56.85	-67.85	602.33
Accounts Receivable, 2 Yr. CAGR %	-	-	-	-	-
Inventory, 2 Yr. CAGR %	10.66	21.86	39.56	19.62	-3.41
Net Property, Plant and Equip., 2 Yr. CAGR %	31.81	1.51	-6.05	-8.51	-6.85
Total Assets, 2 Yr. CAGR %	-0.93	4.49	2.12	-2.54	-11.26
Tangible Book Value, 2 Yr. CAGR %	7.62	-26.19	-33.99	7.71	44.57
Common Equity, 2 Yr. CAGR %	7.34	-25.83	-33.53	7.29	42.98
Cash From Operations, 2 Yr. CAGR %	-47.84	18.9	79.13	-71.9	-35.59
Capital Expenditures, 2 Yr. CAGR %	603.56	-44.03	-49.96	-46.31	-53.06
Levered Free Cash Flow, 2 Yr. CAGR %	231.18	179.59	-66.34	-38.39	356.47
Unlevered Free Cash Flow, 2 Yr. CAGR %	260.66	172.78	-67.54	-38.26	371.62
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-16.66	95.99	3.39	9.12	-16.81
Gross Profit, 3 Yr. CAGR %	-15.64	62.66	1.57	8.43	-18.94
EBITDA, 3 Yr. CAGR %	-35.33	10.49	10.64	53.82	-49.57
EBITA, 3 Yr. CAGR %	-67.72	2.05	16.68	205.88	-39.29
EBIT, 3 Yr. CAGR %	-65.48	0.54	18.42	185.77	-36.92
Earnings From Cont. Operations, 3 Yr. CAGR %	57.13	-22.49	-30.53	29.7	-22.29
Net Income, 3 Yr. CAGR %	68.34	-22.08	-37.85	26.78	-22.47
Normalized Net Income, 3 Yr. CAGR %	201.32	-20.18	64.23	-83.78	-7.05
Diluted EPS Before Extra, 3 Yr. CAGR %	38.09	-22.05	-37.84	26.77	-22.47
Accounts Receivable, 3 Yr. CAGR %	-	-	-	-	-
Inventory, 3 Yr. CAGR %	-35.6	17.41	29.83	23.66	11.2
Net Property, Plant and Equip., 3 Yr. CAGR %	0.17	17.98	-1.28	-7.51	-6.78
Total Assets, 3 Yr. CAGR %	-10.17	2.89	0.86	1.77	-9.55
Tangible Book Value, 3 Yr. CAGR %	-19.09	-16.2	-22.4	-16.16	21.48
Common Equity, 3 Yr. CAGR %	-19.19	-16.01	-22.1	-16.04	20.66
Cash From Operations, 3 Yr. CAGR %	-40.31	16.59	-8.01	-22.8	-38.87
Capital Expenditures, 3 Yr. CAGR %	47.73	124.16	-29.88	-59.67	-37.65
Levered Free Cash Flow, 3 Yr. CAGR %	269.17	152.13	-15.37	-17.83	17.08
Unlevered Free Cash Flow, 3 Yr. CAGR %	232.19	166.66	-18.68	-17.79	16.87
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-18.69	-5.53	-4.97	32.29	2.78
Gross Profit, 5 Yr. CAGR %	-12.76	1.19	-4.49	15.77	2.15
EBITDA, 5 Yr. CAGR %	-26.11	11.84	0.84	-13.57	-14.43
EBITA, 5 Yr. CAGR %	-52.64	13.5	0.77	-20.89	2.47
EBIT, 5 Yr. CAGR %	-51.43	13.95	0.83	-22.47	6.84
Earnings From Cont. Operations, 5 Yr. CAGR %	-2.64	114.18	9.32	-46.4	55.11
Net Income, 5 Yr. CAGR %	10.28	97.46	-2.34	-45.31	63.94
Normalized Net Income, 5 Yr. CAGR %	21.47	18.64	62.38	-71.86	60.34
Diluted EPS Before Extra, 5 Yr. CAGR %	10.29	97.46	-13.29	-45.3	63.96
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	-
Inventory, 5 Yr. CAGR %	-26.33	-22.35	-12.25	18.29	15.35
Net Property, Plant and Equip., 5 Yr. CAGR %	10.58	-1.82	-2.36	6.57	-3.55
Total Assets, 5 Yr. CAGR %	-7.81	-5.5	-5.45	0.68	-4.18
Tangible Book Value, 5 Yr. CAGR %	-13.12	-24.05	-25.42	-7.35	-0.47
Common Equity, 5 Yr. CAGR %	-12.85	-23.92	-25.26	-7.37	-0.68
Cash From Operations, 5 Yr. CAGR %	18.65	4.67	-7.36	-34.01	-20.23
Capital Expenditures, 5 Yr. CAGR %	-10.16	-12.64	-4.19	26.56	-40.28
Levered Free Cash Flow, 5 Yr. CAGR %	134.19	114.28	41.64	43.5	65.84
Unlevered Free Cash Flow, 5 Yr. CAGR %	120.81	125.02	31.02	48.52	64.04