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Earnings Report

National Industries Group Holding

Q1 26 NEUTRAL LOW Impact

1. Company Overview & Earnings Context

National Industries Group Holding (NIND) reported a Q1 2026 net loss as weaker investment performance, fair value losses, and higher finance costs impacted overall profitability during the quarter. The Group operates across investments, industrial activities, real estate, and building materials businesses across Kuwait and regional markets.

The company continued focusing on portfolio restructuring, investment management, and operational efficiency while monitoring regional market volatility and geopolitical developments.

2. Financial Performance Snapshot

  • Revenue from sales & contracts with customers: KD 15.3M

  • Gross profit: KD 2.13M

  • Share of profit from associates: KD 12.4M

  • Total income: KD 10.5M

  • Net loss attributable to shareholders: KD 10.1M

  • Net loss for the period: KD 6.46M

  • Basic & diluted loss per share: 4.01 fils

Compared to Q1 2025:

  • Net profit of KD 20.9M in Q1 2025 shifted to a net loss of KD 6.46M in Q1 2026

  • Shareholder result declined from profit of KD 17.8M to loss of KD 10.1M

3. Operational Highlights & Key Metrics

  • Total assets: KD 1.70B

  • Total equity: KD 769.0M

  • Cash & cash equivalents: KD 158.7M

  • Financial assets at FVTPL: KD 449.4M

  • Financial assets at FVTOCI: KD 115.9M

  • Investment properties: KD 95.0M

  • Borrowings: KD 740.5M

Additional highlights:

  • Share of profit from associates remained a major earnings contributor at KD 12.4M

  • Investments in associates increased to KD 513.4M

  • The Group classified National Industries Company assets as held for distribution to owners

4. Key Performance Drivers

  • Fair value losses on financial assets at FVTPL negatively impacted profitability

  • Higher finance costs increased pressure on earnings during the quarter

  • Investment and associate income remained supportive despite weaker market conditions

  • Foreign currency translation losses impacted comprehensive income

  • Continued volatility across regional financial markets affected investment valuations

The Group also recorded:

  • KD 10.5M loss from financial assets at fair value through profit or loss

  • KD 9.8M finance costs during the quarter

5. Outlook & Forward Guidance

  • Continued focus on investment portfolio optimization and operational efficiency

  • Ongoing management of leverage, liquidity, and financing costs

  • The Group continues monitoring geopolitical developments and market volatility in the region

  • Management remains focused on long-term value creation across investment and industrial operations

  • Proposed distribution of National Industries Company shares remains a key strategic initiative

Management also noted that geopolitical developments in the Middle East continue contributing to heightened uncertainty and volatility across global and regional financial markets.

6. 🧾 Investor Takeaway

National Industries Group reported a Q1 2026 net loss as weaker investment performance, fair value losses, and higher finance costs outweighed strong associate income contribution during the quarter.