Kuwait Investment Company K.S.C.P. ($KINV)

Good morning, everyone. This is Maha Al-Refai from Kuwait Investment Company Investor Relations Unit. We are pleased to welcome you at Kuwait Investment Company's Online Analyst Conference for the First Quarter of '26. Joining us today Mr. Hany El-Nowaihy, Chief Financial Officer; and Mr. Faisal AL-Meshari, Deputy CEO of the Direct Investment sector. Today, we will review the company's financial performance for the third quarter of 2026, along with our future outlook. Before we begin, kindly note that our forward-looking statements or expectations discussed during this conference are for information and purpose only and do not represent guarantees or recommendation regarding the company's future performance. You may have matured questions, [indiscernible] and we will address all questions at the end of the conference. Now I would like to hand over to Mr. Hany to present this, the company financial results. Please go ahead, Mr. Hany.

Thank you, Maha. Good morning, everyone. We are going to [Foreign Language] will present the financial highlights of KIC performance in Q1 2026. Okay. Now you can see the major highlights of the revenues, definitely due to the current circumstances in the Gulf area and the largely impact on the financial markets regionally and internationally. Definitely, all of the financial industry has been impacted due to the current geopolitical [ tension ]. The revenues is KWD 4.6 million with a decrease of 51%, while the expenses is KWD 4.6 million with a decrease of 4%. The net loss on a consolidation basis is KWD 50,000. Our assets is KWD 327 million compared to KWD 322 million with a growth of 1.5%. The liabilities has already increased by 11%, while the equity has been decreased mainly due to announcement and acrrual of dividends as our Board of Director and general assembly approved cash dividends to our shareholders and 18% as a percent, KWD 9.9 million [ as that ] amount. This is the main reason why we have a decrease in the equity in Q1 number to the comparative period. If we look at the statement release analysis, we have the parent company profit or the shareholders of the parent company profit is negative amount KWD 858,000 compared to net profit of KWD 3.8 million. We have a loss per share, which is KWD 1.56 per share compared to almost KWD 0.7 per share profit in the comparative. As we mentioned, the assets, we have growth in assets up to KWD 327 million in Q1 '26, compared t KWD 322 million in December '25 and almost KWD 270 million in March '25. Also for the parent company equity, the equity attributable to shareholders of KIC or the parent company, KWD 130 million compared to KWD 40 million in December and KWD 124 million in March '25. Now we have the total equity of KWD 168 million in March '26 compared to KWD 179 million and KWD 160 million in March '25. Definitely, if you have any questions or any clarification, we would be happy to answer all of them. Just write to us, and we will answer all of your questions. Thank you.