Aamal Company QPSC ("Aamal") Financial Results for the full year ended 31 December 2016

Underlying net profit up 7.3%, driven by continued margin expansion

Aamal Company Board recommends a cash dividend of 6% (QAR 0.60 a share)

Doha, 15 March 2017 

The Board of Directors of Aamal Company QPSC (“Aamal”), one of the GCC’s fastest growing diversified companies, today announces the financial results for the year ended 31 December 2016

Financial Highlights

• Group revenue marginally down, by 1.8%, to QAR 2,829.1m (2015: QAR 2,882.0m)

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• Gross profit up 6.4% to QAR 683.4m (2015: QAR 642.1m)
• Net profit before fair value gains on investment properties (“underlying net profit”) increased 7.3% to QAR 559.3m (2015: QAR 521.3m)
• Net underlying profit margins¹ of 17.7% (2015: 16.6%)
• Fair value gains on investment properties of QAR 0.9m (2015: QAR 135.4m)
• Total company net profit² decreased 14.7% to QAR 560.2m (2015: QAR 656.7m)
• Reported earnings per share decreased 23.1% to QAR 0.73 (2015: QAR 0.95)
• Net capital expenditure in cash terms rose by 10.5% to QAR 126.6m (2015: 114.6m), reflecting the Phase 2 redevelopment works at the City Center Doha shopping mall and fleet expansion at Aamal Maritime Transportation Services (‘AMTS’)
• Financial gearing³ fell to 2.3% (31 December 2015: 3.6%)

¹ Excluding share of profit from equity accounted for investments in associates and joint ventures, and fair value gains on investment properties

² After fair value gains on investment properties but before the deduction of non-controlling interests

³ Net debt to net debt plus total equity (ie. including non-controlling interests)

Read the full report here.

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About Aamal Company QPSC
Aamal Company is one of the GCC’s fastest growing diversified conglomerates, with a market capitalization at 14 March 2017 of QAR 9.1bn (US$ 2.5bn), delivering a ten year compound annual growth rate in underlying net profit (ie. before fair value gains on investment properties) nearing 19% over the period 2006-2016 and generating annual revenues of QAR 2.8bn (US$ 777.2m) in 2016.

Aamal is one of the largest diversified companies quoted on the Qatar Stock Exchange (“QSE”), having been listed since December 2007, and is a constituent member of the QE Index which is a measure of the 20 largest and most liquid stocks listed on the Qatar market. Aamal is also one of the 22 QSE listed stocks that form part of the FTSE Secondary Emerging Markets Index.

Focused on sustained, profitable growth and strongly diversified for balanced exposure to Qatar’s economic growth and development, Aamal’s operations comprise 24 active business units with market leading positions in the key industrial, retail, property, managed services and medical equipment and pharmaceutical sectors.

For further information on Aamal Company and the full financial statements for the full year ended 31 December 2016, please refer to the corporate website: https://www.aamal.com.qa

© Press Release 2017