(Kuwait Power Company) reports net profit of 3.5 million dinars in the first half of 2026
Kuwait City, Aug 13 (KUNA) – Kuwait Projects Company (KIPCO) announced today on Thursday that it achieved net profits of 5.3 million Kuwaiti dinars (approximately 17.3 million US dollars) during the first half of 2026, compared to 10.2 million dinars (approximately 33.4 million dollars) during the same period in 2025.
In a press statement, the company said that earnings per share amounted to 0.3 fils during the first half of the year, noting that the decline in net profits was primarily due to reduced contributions from the energy, banking, real estate, hospitality, industrial, and logistics sectors, as a result of the impact of geopolitical conditions on these sectors.
It added that operating revenues rose by 3.49 percent during the first half of the year to reach 795.9 million dinars (approximately 2.6 billion dollars), compared to 769.1 million dinars (approximately 2.5 billion dollars) for the same period in 2025.
The company noted that it achieved a net profit of 1.8 million dinars (approximately 5.9 million dollars) during the second quarter of 2026, while operating profit increased by 35.93 percent to reach 52.2 million dinars (approximately 171.7 million dollars), compared to 38.4 million dinars (approximately 125.6 million dollars) during the same period in 2025.
It clarified that total operating revenues in the second quarter reached 420 million dinars (approximately 1.37 billion dollars), an increase of 8.95 percent compared to 385.5 million dinars (approximately 1.26 billion dollars) in the second quarter of 2025.
The company pointed out that shareholders’ equity rose by 1.79 percent to reach 656.5 million dinars (approximately 2.15 billion dollars), compared to 644.9 million dinars (approximately 2.11 billion dollars) at the end of 2025.
It further indicated that the company’s consolidated assets totaled 14.45 billion dinars (approximately 47.25 billion dollars) at the end of the first half of 2026, compared to 13.82 billion dinars (approximately 45.19 billion dollars) at the end of 2025.
The statement quoted the Chief Executive Officer of KIPCO Group, Sheikha Adana Nasser Al-Sabah Al-Saud, as saying, “The first half of the year witnessed exceptionally difficult conditions amid the ongoing uncertainty in the region. Despite these circumstances, KIPCO continued to generate profits, reflecting the robustness of our investment portfolio and the strength of our core companies.”
Sheikha Adana Al-Sabah affirmed the continuation of work based on a disciplined approach to capital management and operational efficiency, with a focus on preserving and enhancing value for stakeholders.
Kuwait Projects Company (KIPCO) is a holding company focused on investments in the Middle East and North Africa region, operating across several sectors. Its main activities include companies active in financial services, media, real estate, and industry. The group holds major ownership stakes in commercial banks, insurance companies, asset management firms, and investment banking institutions. (End) A.A.B / A.M.H
