Financial Statements

Consolidated Statement of Financial position

as at 31 December 2025

    31 December 2025 31 December 2024 (Restated) 1 January 2024 (Restated)
  Note KD ’000 KD ’000 KD ’000

ASSETS

        

Current assets

        
Cash and cash equivalents 4 310,872 195,930 313,547
Bank balances held in customers’ account 5 41,745 15,928 12,967
Trade and other receivables 6 1,168,637 1,028,891 893,252
Contract assets 20.2 98,357 86,076 76,094
Inventories 7 58,034 78,322 54,945
Investment securities at FVTPL 8 85,058 51,504 35,130
    1,762,703 1,456,651 1,385,935
Assets classified as held for sale 9 322,977 95,604 4,024
    2,085,680 1,552,255 1,389,959

Non-current assets

        
Contract assets 20.2 84,476 69,870 54,017
Investment securities at FVOCI 8 12,833 13,748 11,698
Investments in associates and joint venture 10 120,732 207,818 206,472
Other non-current assets 12 102,290 112,225 59,685
Right of use of assets 11 213,470 172,979 128,191
Property and equipment 12 1,369,986 1,176,529 1,109,050
Intangible assets and goodwill 13 1,924,772 1,958,685 2,035,222
    3,828,559 3,711,854 3,604,335

Total Assets

   5,914,239 5,264,109 4,994,294
         

LIABILITIES AND EQUITY

        

Current liabilities

        
Trade and other payables 14 1,421,910 1,163,209 1,089,330
Contract liabilities 20.2 53,207 54,148 59,108
Income tax payables 15 27,733 18,329 19,118
Bank borrowings 16 277,157 644,610 169,881
Lease liabilities 17 40,194 28,230 28,862
    1,820,201 1,908,526 1,366,299
Liabilities classified as held for sale 9 80,883 32,944 1,010
    1,901,084 1,941,470 1,367,309

Non-current liabilities

        
Bank borrowings 16 1,610,938 845,742 1,141,657
Lease liabilities 17 213,872 184,086 147,039
Contract liabilities 20.2 26,738 6,745 4,275
Other non-current liabilities 18 198,204 324,175 375,181
    2,049,752 1,360,748 1,668,152

Equity

        

Attributable to the owners of the Company

        
Share capital 19 432,706 432,706 432,706
Share premium   1,261,937 1,707,164 1,707,164
Reserves 19 (479,948) (912,398) (895,493)
    1,214,695 1,227,472 1,244,377
Non-controlling interests 27 748,708 734,419 714,456

Total equity

   1,963,403 1,961,891 1,958,833

Total Liabilities and Equity

   5,914,239 5,264,109 4,994,294
The accompanying notes are an integral part of these consolidated financial statements‭.‬

Osamah Othman Alfuraih
Chairman

Bader Nasser Al Kharafi
Vice Chairman‭ & ‬Chief Executive‭  ‬Officer