Doha, Qatar: Qatar Navigation (Milaha), has announced yesterday its financial results for the nine months ended September 30, 2024.

The operating revenues of QR2.13bn for the nine months ended September 30, 2024 compared to QR2.23bn for the same period in 2023 and operating profit of QR445m for the nine months ended September 30, 2024 compared to QR404m for the same period in last year.

The net profit reached QR917m for the nine months ended September 30, 2024 compared to QR870m for the same period in 2023. While the earnings per share increased to QR0.81 for the nine months ended September 30, 2024 compared to QR0.77 for the same period in last year.

Milaha Maritime & Logistics’ net profit increased by QR1m compared to the same period in 2023, driven by increased project income from our shipyard operations.

Milaha Gas & Petrochem’s net profit increased by QR31m compared to the same period in 2023, largely due to strong results from our associate companies.

Milaha Offshore’s net profit decreased by QR22m compared to the same period in 2023, mainly due to required vessel maintenance that reduced revenues, and the non-recurrence of favorable accounting adjustments recorded in 2023.

Milaha Capital’s net profit increased by QR51m compared to the same period in 2023, driven by higher earnings from our financial investments arm.

Milaha Trading’s bottom line decreased by QR13m compared to the same period in 2023, driven by decreased sales of heavy equipment and ancillary marine goods and services.

The company will conduct an investor conference call on Thursday, October 24 at 1:00pm Doha time, to further discuss its results. The conference call may be accessed by telephone by dialing (00800101734) and entering the Conference ID: (1124995).

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