Yubak's revenues reach 987,000 dinars in six months
The group recorded a net loss of 779,000 dinars, equivalent to 2.1 fils per share, compared to a net profit of 497,000 dinars during the same period in 2025. Group revenues also stood at 987,000 dinars, down from 3.3 million dinars.
Chief Executive Engineer Hamad Malallah said: “The results for the first half of the year were largely in line with our expectations, and we look forward to maintaining stable performance during the remainder of the year. As we previously clarified, the decline in revenues and net results compared to the corresponding period last year is primarily due to the expiration of the operation and management contract for Terminal 1 at Kuwait International Airport in 2025, which had been one of the group’s main revenue sources. On the other hand, the group’s operating assets and current investments continued to perform in line with approved plans, supported by progress in strategic projects and the gradual improvement in performance indicators of our key assets. This reinforces our confidence in the company’s ability to adapt to economic and operational changes and to continue implementing its strategy and achieving its long-term goals.”
He added: “Yopak continues to execute its strategy aimed at diversifying revenue sources and enhancing the value of its investment assets. We are witnessing tangible progress in the Musaylah Beach project, which represents one of the key pillars of the group’s future growth following the end of the airport contract, and serves as a strategic platform for diversifying revenues and enhancing long-term operational returns. The group has also maintained a strong financial position and appropriate liquidity levels, supporting its future operational and investment plans, and enabling it to continue developing its current projects and capitalize on promising opportunities to deliver sustainable value to shareholders.”
During the second quarter of the year, the Musaylah Beach project saw the opening of several new brands.
Yopak also continued to organize community and recreational events and activities at Musaylah Beach. The company continues to strengthen its operational readiness through periodic reviews of emergency plans and risk management across all its facilities, contributing to the protection of employees and visitors.
Malallah concluded: “The teams continue to work closely with operators and tenants to support their operational readiness and prepare for upcoming openings in the near future. We expect the second half of the year to witness further operational developments and new openings at the Musaylah Beach project, and we look forward to continuing the project’s development and consolidating its position as a leading year-round beach and recreational destination.”
