CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION
for the six months ended 30 June 2025
CONTENTS Page Independent auditors' report on review of condensed consolidated interim financial information 1 Condensed consolidated interim financial information:Condensed consolidated statement of financial position 2
Condensed consolidated statement of profit or loss 3
Condensed consolidated statement of comprehensive income 4
Condensed consolidated statement of changes in equity 5 - 6
Condensed consolidated statement of cash flows 7
Notes to the condensed consolidated interim financial information 8 - 19
KPMG Fakhro | Telephone | +973 17224807 |
Audit | Telefax | +973 17227443 |
12t^ Floor, Fakhro Tower, | Website: | https://www.kpmg.com/bh |
P.O. Box 710, Manama, Kingdom of Bahrain | CR No. | 6220 - 2 |
To the Board of Directors
Esterad Investment Company BSC Kingdom of Bahrain
Introduction
We have reviewed the accompanying 30 June 2025 condensed consolidated interim financial information of Esterad Investment Company BSC (the "Company") and its subsidiaries (together the "Group"), which comprises:
the condensed consolidated statement of financial position as at 30 June 2025;
the condensed consolidated statement of profit or loss for the three-month and six-month periods ended 30 June 2025;
the condensed consolidated statement of comprehensive income for the three-month and six-month periods ended 30 June 2025;
the condensed consolidated statement of changes in equity for the six-month period ended 30 June 2025;
the condensed consolidated statement of cash flows for the six-month period ended 30 June 2025; and
notes to the condensed consolidated interim financial information.
The Board of Directors of the Company is responsible for the preparation and presentation of this condensed consolidated interim financial information in accordance with IAS 34, 'Interim Financial Reporting'. Our responsibility is to express a conclusion on this condensed consolidated interim financial information based on our review.
We conducted our review in accordance with the International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying 30 June 2025 condensed consolidated interim financial information is not prepared, in all material respects, in accordance with IAS 34, 'Interim Financial Reporting'.
9 August 2025
@ 2025 KPMG Fakhro, a Bahrain partnership registered with the Ministry of Industry and Commerce (MOIC), Kingdom of Bahrain and a member firm or the KPMG global organization of independent member fims affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved
1
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
as at 30 June 2025
Note
ESTERAD
Bahraini Dinars
30 June
2025
(reviewed)
1,847,743
30,941,964
33,244,100
14,623,000
2,486,011
83,142,818
31 December
2024
(audited)
2,233,945
39,992,232
32,980,592
14,623,000
3,271,071
93,100,840
Assets
Cash and bank balances
Investment securities 7
Development properties 8
Investment properties 9
Other assets 10
Total assets
27,107,910 6,123,740 |
33,231.650 |
49,811,168 |
33,092,788 8,924,245 |
42,017,033 |
51,083,807 |
Borrowings 11
Other liabilities 12
Total liabilities Total net assets
16,207,946 8,121,691 (103,293) 7,443,177 460,241 100,000 10,911,551 |
43,141,313 6,769,855 |
49,911,168 |
15,438,932 8,121,691 (101,873) 7,443,177 460,241 100,000 11,915,315 |
43,377,483 7,706,324 |
51,083,807 |
Equity
Share capital Share premium Treasury shares Statutory reserve General reserve Charity reserve Retained earnings
Total equity attributable to owners of the Company Non-controlling interest
Total equity
The condensed consolidated interim financial information was approved by the Board of Directors on 9 August 2025 and signed on its behalf by:
Nabeel Nooruddin
Chairman
Ali Bucheeri
Director
Ahmed Abdulrahman
Chief Executive Officer
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
for the six months ended 30 June 2025
Six months ended | |
30 June | 30 June |
2025 | 2024 |
(reviewed) | (reviewed) |
(255,195) | 3,608,577 |
217,923 | |
91,625 | |
4,342,748 | 776,620 |
4,087,553 | 4,694,745 |
1,455,281 | 1,061,408 |
1,074,646 | 2,289,203 |
2,529,927 | 3,350,611 |
1,557,626 | 1,344,134 |
Note
Investment income 16
Income from development properties 8.2
Income from investment properties
Other income 17
Total income
ESTERAD
Three months ended | |
30 June | 30 June |
2025 | 2024 |
(reviewed) | (reviewed) |
2,193,198 | 2,643,739 |
58,851 | |
14,350 | |
34,271 | |
2,227,469 | 2,716,940 |
677,689 | 510,930 |
512,272 | 1,297,410 |
1,189,961 | 1,808,340 |
1,037,508 | 908,600 |
Bahraini Dinars
General and administrative expenses Interest expense
Total expenses Profit for the period
Profit/ (loss) for the period attributable to:
Owners of the Company Non-controlling interest
Basic earnings per 100 fils share
11.3
1,041,757 (4,249) | 885,853 22,747 |
1,037,508 | 908,600 |
1,531,362 26,264 | 1,321,646 22,488 |
1,557,626 | 1,344,134 |
9.5 file 8.6 fils 6.4 fils 5.8 fils
Nabeel Nooruddin
Chairman
i Bucheeri
Director
Ahmed Abdulrahman
Chief Executive Officer