| الربع الثالث 2026 | الربع الثالث 2025 | التغير | 9 أشهر 2026 | 9 أشهر 2025 | التغير | |
|---|---|---|---|---|---|---|
| Revenue | 8,443 | 8,056 | 4.8% | 26,230 | 25,870 | 1.4% |
| EBITDA | 3,740 | 4,501 | (16.9%) | 13,281 | 15,017 | (11.6%) |
| Depreciation | (3,078) | (2,943) | 4.6% | (9,068) | (8,615) | 5.3% |
| Finance costs | (391) | (549) | (28.8%) | (1,193) | (1,583) | (24.6%) |
| Net profit | 186 | 944 | (80.3%) | 2,800 | 4,388 | (36.2%) |
| EPS (fils) | 0.70 | 3.73 | (80.3%) | 10.54 | 17.34 | (36.2%) |
Integrated Holding Co. held its analyst and investor conference for Q3 2026 by live webcast on Monday, 9 November 2026, at 2:00 pm. The company said no material information was shared during the conference, and it attached the presentation used at the event.
In the presentation, the company said it contributed USD 3 million to the Kuwait Emergency Fund during Q3 2026. The amount was booked under general and administrative expenses and lowered the quarter's net profit. The company added that ongoing geopolitical tensions in the region hurt its overall performance, so Q3 results came in below target.
Because of this exceptional spending, Q3 net profit fell 80.3% to KWD 186 thousand from KWD 944 thousand a year earlier, and earnings per share fell to 0.70 fils from 3.73 fils. This also weighed on nine-month net profit, which fell 36.2% to KWD 2,800 thousand from KWD 4,388 thousand, with EPS of 10.54 fils against 17.34 fils. Other factors behind the lower profit were a 5% rise in depreciation of KD 453K and a 10% rise in direct manpower costs of KD 596K.
Q3 revenue rose 4.8% to KWD 8,443 thousand from KWD 8,056 thousand despite difficult market conditions, and nine-month revenue rose 1.4% to KWD 26,230 thousand from KWD 25,870 thousand. Q3 EBITDA fell 16.9% to KWD 3,740 thousand from KWD 4,501 thousand. Nine-month EBITDA fell 11.6% to KWD 13,281 thousand from KWD 15,017 thousand. Depreciation was KWD 3,078 thousand for the quarter and KWD 9,068 thousand for nine months, against KWD 2,943 thousand and KWD 8,615 thousand. Finance costs fell to KWD 391 thousand from KWD 549 thousand in the quarter, and to KWD 1,193 thousand from KWD 1,583 thousand over nine months.
By geography, Kuwait accounted for 40% of nine-month revenue, up from 38% a year earlier. Qatar's share fell to 40% from 42%, and Saudi Arabia held steady at 20%.
By segment, equipment rental revenue was KWD 20,456 thousand (vs 19,765), transportation KWD 1,114 thousand (vs 771), stevedoring operations KWD 4,403 thousand (vs 4,605), oil field services KWD 79 thousand (vs 370) and others KWD 179 thousand (vs 359).
Cranes contribute 73% of total revenue. The company said utilisation dropped in Q3 because of geopolitical tensions, to 55% for 9M 2026 from 61% in 2025. It was 57% in 2024, 53% in 2023, 50% in 2022, 40% in 2021 and 2020, 50% in 2019 and 68% in 2018.
On the balance sheet, total assets stood at KWD 104,734 thousand against KWD 112,105 thousand, down 6.6%. Current assets were KWD 23,521 thousand against 21,028, and property and equipment KWD 80,802 thousand against 90,591. Borrowings fell 18.8% to KWD 30,878 thousand from 38,009, and capex creditors fell to KWD 3,480 thousand from 4,414. Shareholders' equity rose 1% to KWD 63,157 thousand from 62,508.
Capital expenditure for the first nine months of 2026 was KD 1.34 million: 44% went to Saudi Arabia, 30% to Qatar and 26% to Kuwait. About 64% of it went on cranes and other lifting equipment. The company projects full-year capex of KD 3.5 million, 80% of it financed through bank debt and deferred credit from suppliers.
The company expects demand for equipment rental to rise once the region returns to normal, and sees promising prospects in existing and upcoming projects and in reconstruction activity in the region.
