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Earnings Report

National International Holding Company

Q1 26 NEUTRAL LOW Impact

1. Company Overview & Earnings Context

National International Holding Company K.S.C.P. reported a Q1 2026 net loss as weaker investment performance, fair value losses, and lower contribution from associates impacted profitability during the quarter. The Group operates across industrial activities, real estate investment, and financial investment activities across Kuwait and regional markets.

The company continued focusing on investment portfolio management, associate investments, and operational activities while monitoring geopolitical and market volatility across the region.

2. Financial Performance Snapshot

  • Total revenues: KD 357.9K

  • Revenue from operating activities: KD 88.9K

  • Share of results from associates: KD 395.8K

  • Net investment loss/income: KD (196.2K)

  • Loss before deductions: KD (650.6K)

  • Net loss for the period: KD (650.6K)

  • Net loss attributable to shareholders: KD (647.7K)

  • Basic & diluted loss per share: (2.64) fils

Compared to Q1 2025:

  • Net profit of KD 295.3K in Q1 2025 shifted to a net loss of KD 650.6K in Q1 2026

  • Shareholder result declined from profit of KD 221.9K to loss of KD 647.7K

3. Operational Highlights & Key Metrics

  • Total assets: KD 46.64M

  • Total equity: KD 45.00M

  • Cash & cash equivalents: KD 3.69M

  • Accounts receivable & other assets: KD 3.73M

  • Investments at fair value through OCI: KD 16.96M

  • Investments at fair value through profit or loss: KD 3.37M

  • Investments in associates: KD 17.74M

  • Treasury shares market value: KD 489.5K

Additional highlights:

  • Share of results from associates remained a key earnings contributor at KD 395.8K

  • Investments in debt instruments at amortized cost stood at KD 7.30M

  • Quoted shares portfolio totaled KD 567.7K

4. Key Performance Drivers

  • Net investment losses negatively impacted profitability during the quarter

  • Lower contribution from associates compared to Q1 2025 affected overall earnings

  • Fair value losses on investments through OCI reduced comprehensive income

  • Finance costs remained elevated at KD 1.01M

  • Operating expenses and investment market volatility pressured returns

The Group also recorded:

  • KD 203.5K change in fair value of investments through OCI

  • KD 251.5K decline in fair value reserve during the quarter

  • KD 132.1K total comprehensive loss attributable to shareholders

5. Outlook & Forward Guidance

  • Continued focus on investment portfolio optimization and associate investments

  • Ongoing management of liquidity, financing costs, and market risk exposure

  • The Group continues monitoring geopolitical uncertainty and financial market volatility

  • Management remains focused on industrial, real estate, and financial investment opportunities

  • NIH aims to strengthen long-term value creation through diversified investment activities

The company also disclosed ongoing legal proceedings related to Agape Court cases, while management continues assessing the evolving geopolitical environment and related market impacts.

6. 🧾 Investor Takeaway

NIH reported a Q1 2026 net loss as weaker investment performance, fair value losses, and lower associate contribution weighed on profitability, while the Group continued maintaining a diversified investment portfolio across industrial, real estate, and financial activities.