Al-Mabani: Financial Flexibility and Funding Capacity Support Completion of Development Projects and Fulfillment of Future Commitments

Al-Mabani Holding Company held its third-quarter 2026 analysts and investors conference, attended by Executive Vice President Tariq Al-Adesani and Chief Financial Officer Abhishek Rastogi, with the dialogue moderated by Acting Head of Investor Relations Nora Zahiri.

During the conference, the company presented its financial and operational results for the first nine months ended September 30, 2026, along with key updates on its operational and development projects in Kuwait, the Kingdom of Bahrain, and the Kingdom of Saudi Arabia, as well as its initiatives in sustainability, corporate social responsibility, and governance.

Al-Mabani announced a net profit of 46.4 million dinars for the first nine months of 2026, compared to approximately 67.5 million dinars during the same period last year. It is worth noting that the 2025 results included non-recurring exceptional profits of 21.6 million dinars, resulting from the sale of freehold land in Kuwait. Excluding the impact of these profits, net profit remained relatively stable compared to the same period last year.

Total revenues for Al-Mabani during the period amounted to approximately 99.6 million dinars, a decrease of 2.7 percent compared to the same period last year. This decline was attributed to several factors, including the continued impact of geopolitical developments on the hospitality sector, the emergence of pre-operational expenses related to upcoming project openings, and an exceptional contribution of 2.5 million dinars made by the Group to the Kuwait Emergency Response Fund.

Conversely, the Group’s commercial activities maintained stable performance, with investment real estate revenues recording a slight increase compared to the same period last year, reflecting the resilience of Al-Mabani’s core operating assets and their ability to navigate economic and regional changes.

For the third quarter of 2026, the Group’s revenues reached 34.2 million dinars, slightly surpassing levels recorded in the same quarter of 2025, supported by a 2.3 percent increase in investment real estate revenues. Additionally, occupancy rates in the hospitality sector for both of the Group’s hotels in Kuwait returned to previous levels during July and August.

Net profit for the third quarter amounted to 14 million dinars, after accounting for the Group’s contribution of 2.5 million dinars to the Kuwait Emergency Response Fund, which was fully recorded within the third-quarter financial results.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 64.6 million dinars during the first nine months of 2026, a decline of approximately 6 percent compared to the same period last year, due to the performance of the hospitality sector and the exceptional contribution to the Kuwait Emergency Response Fund. Meanwhile, the Group maintained a gross profit margin of 71 percent, reflecting continued efficiency in operational cost management and spending discipline.

According to the Group’s balance sheet, total assets reached 2.3 billion dinars at the end of September, representing a 25 percent growth compared to the same period last year, driven by the Group’s ongoing development of projects and expansion of its real estate assets in Saudi Arabia and Kuwait.

Available liquidity for the Group stood at 81.6 million dinars, with Al-Mabani continuing to benefit from financial flexibility and funding capacity that support the completion of its development projects and the fulfillment of future obligations.