Aamal Q P S C : Half Year 2023 Investor Presentation
August 08, 2023 at 09:01 am EDT
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A robust performance demonstrating the benefits of Aamal's diversification strategy
Presentation of financial results for the six months ended 30 June 2023
25th July 2023
Contents
H1 2023 Highlights
Financial Summary
Segmental Review
Summary and Outlook
Appendix
Group Results - Revenue and Net Profit by Segment
Aamal's Investment Case
"Strength Through Diversity"
1
H1 2023 HIGHLIGHTS
A robust performance with revenue and net profit growth of 9.5% and 5.5% respectively
Net profit growth across Aamal's Trading and Distribution, Property, and Managed Services segments
Despite a challenging H1 for Industrial Manufacturing, the segment achieved notable operational and commercial milestones
Performance impacted by declining shipping rates at Aamal Maritime Transportation Services and lower sales at Gulf Rocks and Aamal Cables; new contract wins for Senyar Industries and Aamal Readymix
Promising growth seen across the Property segment; continuing post-pandemic recovery across Managed Services
Strengthened financial resilience, with gearing reduced to 1.7%
Continued firm commitment by to Aamal's communities
Recently announced 'Aamal Ride', promoting the benefits of sport and an active lifestyle
"Strength Through Diversity"
2
Contents
H1 2023 Highlights
Financial Summary
Segmental Review
Summary and Outlook
Appendix
Group Results - Revenue and Net Profit by Segment
Aamal's Investment Case
"Strength Through Diversity"
3
FINANCIAL SUMMARY
QARm
H1 2023
H1 2022
% change
Revenue
1,067.4
974.4
9.5%
Gross profit
238.2
229.7
3.7%
Fair value gains/(losses) on investment properties
-
-
-
Net profit attributable to Aamal shareholders
166.8
156.4
6.6%
Earnings per share (QR)
0.026
0.025
6.6%
Capital expenditure
11.9
27.4
(56.5%)
Gearing
1.7%
4.1%
(2.4ppts)
Note: there may be slight differences due to rounding.
Financial performance driven by
A number of new contract wins: Elsewedy Cables Qatar with Kahramaa; Aamal Services with the Ministry of Municipality and with Mowasalat; Tiga Information Technologies Qatar with the Ministry of Public Health)
A particularly strong performance by Ebn Sina Medical
Continued easing of pandemic-related restrictions
Improved financial resilience, with gearing reduced to 1.7%
Borrowings down 15.5%
Eliminated currency risk
Capex reduction attributable to the completion of renovation work at City Center Doha
Aamal Company QSC published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 13:00:20 UTC.
Aamal Co QPSC is a Qatar-based company, which is engaged in diversified industry sectors. The Company is organized into four business segments: Investment Property segment is engaged in leasing the facilities of retail outlet complex, real estate investments and property rental businesses; Trading and distribution segment is involved in the wholesale and retail distribution of pharmaceutical and consumable items, medical equipment, tires and lubricants, perfumes and cosmetic items; Industrial manufacturing segment involves in the manufacture, wholesale and retail distribution of electric cables and tools, ready-mix concrete and cement blocks, as well as the provision of services in relation to industrial investment, repair and construction of power plants, and management of industrial enterprise, and Managed services segment is engaged in the provision of housekeeping and cleaning services and facilities management services, among others.
AAMAL COMPANY Q.P.S.C. 
