Doha - The Board of Directors of Aamal Company Q.P.S.C. (“Aamal”), one of the region’s leading diversified companies, today announces its financial results for the first quarter ended 31 March 2025.

Financial Highlights

  • Total revenue up 6.8% to QAR 580.3m (Q1 2024: QAR 543.3m)
  • Gross profit down 1.3% to QAR 128.7m (Q1 2024: QAR 130.4m)
  • Net profit attributable to Aamal equity holders up 8.3% to QAR 101.8m (Q1 2024: QAR 94.0m)
  • Reported earnings per share increased 8.3% to QAR 0.016(Q1 2024: QAR 0.015)
  • Net capital expenditure declined 35.7% to QAR 6.6m (Q1 2024: QAR 10.3m
  • Gearing decreased to 0.9% (Q1 2024: 1.2%)

SUMMARY AND OUTLOOK

Mr. Rashid bin Ali Al Mansoori, Chief Executive Officer of Aamal, commented:

“I am pleased to report a strong start to 2025 for Aamal with the Company achieving solid year-on-year revenue growth of 6.8% and an 8.3% rise in net profit. These results underscore the Company’s sustained strategic delivery as it continues to adapt to changing market conditions and pursues promising growth avenues across its diversified and well positioned portfolio.

“The Trading and Distribution segment successfully carried its positive performance into 2025, with this being driven largely by strong organic growth at Ebn Sina Medical following the business module change. Aamal Trading was also successful in growing its market share and revenues on the back of sell out promotions and price increases on renewed service contacts.

“The performance of the Industrial Manufacturing segment continued to be mixed, with low levels of new construction activity resulting in subdued demand for Aamal Readymix and Aamal Cement, where revenue and net profit remained relatively flat year on year. Nevertheless, Senyar once again benefited from the demand stemming from the Kaharama and North Field projects to further improve its healthy profitability while profitability at Aamal Maritime’s was bolstered by improving shipping rates and stable occupancy.”

“Our Property segment reported solid growth in revenue and net profit for the quarter highlighting the continued strong positioning of Aamal’s commercial and residential property portfolio. At City Center Doha recent investment to enhance the shopping experience was rewarded with the signing of several new tenants and the signing of new lease agreements on more favorable financial terms. The performance of Aamal Real Estate meanwhile benefited from a slight increase in already high occupancy rates above the already high levels.

“Our Managed Services reported a marginal decline in revenue for the period coupled with flat year-on-year net profit. In particular, Maintenance Management Solutions recorded flat net profits. and a slight weakening in year-on-year revenue. This was largely attributable to the challenging comparables' generated by the completion of several ad hoc projects in Q1 2024. Elsewhere in the segment Family Entertainment Center leveraged effective marketing campaigns and facilities improvements to achieve a robust performance for the period while Aamal services performance has been stable compared Q1 2024.  

Sheikh Mohamed bin Faisal Al Thani, Vice Chairman and Managing Director of Aamal, added: “

Overall, these are a positive set of first quarter results for Aamal, placing the Company on a strong footing as it looks to replicate the strong performance and successful strategic progress delivered in 2024. Looking ahead to the rest of the year I am confident in Aamal’s continued ability leverage our resilient and diversified business model to capture the abundant growth opportunities in both Qatar and the wider region. I would like to thank all Aamal employees for their efforts and contribution and look forward to driving continued value for all the Company’s stakeholders”

CONFERENCE CALL DETAILS

A conference call to discuss the results will be held on 01 May 2025 at 2.00pm Doha time. The details for the conference call are as follows:

Date:                                      Thursday 01 May 2025

Time:                                      2.00pm Doha time

ABOUT AAMAL COMPANY Q.P.S.C.

Aamal is one of the Gulf region’s most diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007.  As at 28 April 2025, the Company had a market capitalisation of QAR 5.34 bn (US$1.47 bn).

Aamal’s operations are widely diversified and comprise 32 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar’s wider economic growth and development.