Net Profit of Estithmar Holding Increases by 20% to QAR 422 Million, Revenues Rise by 44% to Reach QAR 4.2 Billion

By: Estithmar Holding Q.P.S.C. via Business Wire

February 13, 2025 at 12:13 PM EST

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Financial Results Announcement for the FY 2024

Estithmar Holding Q.P.S.C. announced its financial results for the year ended December 31, 2024, reporting a 44% increase in revenues, reaching QAR 4.2 billion, compared to QAR 2.9 billion in 2023. The gross profits of the company reached QAR 1 billion, up from QAR 801 million in 2023, reflecting a 27% increase. The company also achieved earnings before interest, tax, depreciation, and amortization (EBITDA) of QAR 742 million. The results showed a 20% rise in the company’s net profit compared to 2023, reaching QAR 422 million. Earnings per share also increased by 17% from 2023, reaching QAR 0.119 per share.

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Net Profit of Estithmar Holding Increases by 20% to QAR 422 Million, Revenues Rise by 44% to Reach QAR 4.2 Billion (Graphic: AETOSWire)

The 20% growth in net profit is attributed to the increase in the company’s revenues, which were primarily driven by the contracting and healthcare clusters. The contracting cluster expanded in executing and delivering projects efficiently in the Kingdom of Saudi Arabia. The healthcare cluster contributed to the rise in 2024 revenues, driven by the sustainable performance growth of The View Hospital in Qatar, and the expansion of the cluster through the subsidiary Apex Health, which signed management and operation agreements for several hospitals. A set of measures taken in the ventures cluster has also contributed to restructuring the business model and increasing revenues.

The financial results for 2024 reported a 25% increase in assets, resulting from the new projects added to Estithmar’s portfolio. The results also revealed a current liquidity ratio of 1.22.

The Board of Directors of Estithmar Holding recommended a dividend distribution equivalent to 10% of the capital, with 1 free share for every 10 shares.

For more information: Estithmar Holding - Legacy of Excellence.

*Source: AETOSWire