Estithmar Holding registers remarkable financial performance in H1 2023: Qatar

Estithmar Holding registers remarkable financial performance in H1 2023: Qatar

DOHA: Estithmar Holding announced its financial statements for the six months period that ended on June 30, 2023 (first half of 2023). The financial and operational results of the company confirmed the progress of its businesses in all sectors, both in Qatar and abroad.

The financial results for Estithmar Holding revealed:

- The Gross Profit of the company reached QR396mn, a 51 percent growth YoY.

- Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to QR369mn, reflecting a significant 42 percent YoY growth.

- Net profits reached QR205mn which includes minority rights, showing an 8 percent YoY increase.

- Net profits attributable to shareholders reached QR199.6mn with a growth of 3.68 percent YoY.

- Earnings per share (EPS) amounted to QR0.059, (noting that the calculation is based on the weighted average number of shares).

Mohamed Moutaz Al Khayyat, Chairman of the Board of Directors, stated: “The financial and operational results for the first half of this year set the stage for further anticipated success and growth in the coming years. Our business sectors, especially contracting services in Saudi Arabia and healthcare development, particularly The View Hospital in its affiliation with Cedar Sinai, upcoming hospital projects in Iraq, Algeria, and Kazakhstan, and the upcoming opening of the