ACICO Group, a full-service, multi-sector construction group based in Kuwait, has announced that it has returned to profitability with a KD2.9 million ($9.4 million) net profit in 2025 compared with a net loss of KD11.2 million a year earlier, reflecting progress in its restructuring plan, aimed at restoring profitability and improving operational efficiency.
Its operating revenue rose 14% year-on-year to KD75.6 million, supported by stronger performance across its construction and building materials segments.
The contracting division recorded the fastest growth, with revenue doubling from the previous year, said senior company officials at the annual general meeting held in Kuwait City.
As part of its restructuring, ACICO booked gains of KD9.7 million from loan settlements and reduced on-balance-sheet debt by KD69.4 million dinars, strengthening its capital structure, said its Chairman Emad Abdullah Al Essa at the board meeting.
Total equity increased to KD29.7 million from KD27.8 million in 2024, while liabilities fell to KD211.4 million. Finance costs dropped to KD7.3 million from KD15.5 million, reflecting lower borrowing costs.
Total assets stood at KD241 million at year-end, down from KD315 million, mainly due to debt settlements and asset disposals.
Operationally, the group reported continued momentum across its manufacturing and construction activities, including capacity expansions in its precast segment and improvements in production efficiency, stated the top official.
ACICO also said its autoclaved aerated concrete facilities in Kuwait and Saudi Arabia obtained the Kuwait Quality Mark, making it the first producer in the Gulf region to receive the certification.
In contracting, the company expanded its project portfolio, particularly in housing and infrastructure, supported by increased demand and improved execution, said Al Essa.
During the meeting the shareholders approved all agenda items, including audited financial statements for the year ended December 31, 2025, board and audit reports, and the appointment of an external auditor for 2026.
On the solid performance for 2025, Al Essa said it reflected “tangible progress” in restructuring, operational improvements and strengthening the company’s business model.
Looking ahead, ACICO would continue to focus on financial discipline, balance sheet strength and selective growth opportunities in Kuwait and the wider Gulf region, he added.-TradeArabia News Service