Makhazen Posts 18.6 Million KD Profit in Q2, Up 114.2%

For the second quarter of 2026, Mazoon recorded revenues of 35.6 million dinars, matching the level of the second quarter of 2025, and posted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 27 million dinars, representing a 66.5 percent growth compared to the same period in 2025. Meanwhile, net profit attributable to shareholders reached 18.6 million dinars, up from 8.7 million in the second quarter of 2025, marking a 114.2 percent increase.

During the first half of 2026, Mazoon recorded revenues of 71.5 million dinars and an EBITDA of negative 189.3 million dinars. This figure included non-recurring non-cash items recorded in the first quarter, related to fair value adjustments for certain investment properties. Losses from continuing operations attributable to shareholders amounted to 206.8 million dinars.

Second Quarter 2026 Performance

Throughout this quarter, Mazoon continued to focus on strengthening its operational platform, enhancing the efficiency of its asset base, and advancing the implementation of projects supporting Kuwait’s long-term economic and developmental priorities.

The company’s operations delivered balanced operational performance during the quarter, driven by strong contributions from the trade facilitation and infrastructure sectors, as well as its investment portfolio, alongside sustained operational discipline across all business segments. The company maintains a solid financial position.

Mazoon’s operating subsidiaries continued to achieve steady operational progress despite regional disruptions. Regarding the company’s investment portfolio, which is primarily based on a 25 percent ownership stake in Agility Global, it continues to deliver strong performance across the constituent companies within the portfolio.

Faisal Juma Al-Eisa, Chairman of the Board of Directors of Mazoon, stated: “The second quarter of 2026 saw the company return to profitability, with net profit attributable to shareholders reaching 18.6 million dinars, while the core operational performance of our main business segments demonstrated strength and resilience. With the completion of the strategic balance sheet restructuring process, the company moves forward from a clear and transparent foundation.”

He added: “As we continue under the Mazoon brand, our focus remains on strengthening operations, improving asset base efficiency, and positioning the company for sustainable long-term growth. We remain committed to maintaining financial discipline and executing our strategic priorities. Thanks to our robust balance sheet and flexible operational platform, our confidence in the company’s ability to create long-term value for shareholders remains firmly grounded.”