Latest news with #Aamal
Qatar Tribune
4 days ago
- Business
- Qatar Tribune
Aamal initiates talks to acquire stake in Hepworth PME Qatar
Tribune News Network Doha Aamal Company (Aamal), one of the region's leading diversified companies, announced that it has commenced negotiations to acquire a stake in or the entirety of Hepworth PME should be noted that the ownership of the target company is split between a related party and an unrelated party, and that the acquisition will be through one of Aamal Company's subsidiaries. Established in 2003, Hepworth PME Qatar is a leading manufacturer and supplier of high-quality thermoplastic piping systems, serving Qatar's building and construction, civil engineering, and industrial sectors. The company offers comprehensive piping solutions, including pipes, fittings, valves, pumps, measurement and control systems, and jointing equipment and accessories. This potential acquisition aligns with Aamal's strategic objective to expand its industrial manufacturing segment, enhancing its product portfolio and market presence in line with Qatar's National Vision 2030. Further disclosures will be made as negotiations progress and in accordance with regulatory requirements.
Qatar Tribune
18-05-2025
- Business
- Qatar Tribune
Aamal charts ambitious growth path at exclusive media roundtable
Satyendra Pathak Doha Aamal Company, a cornerstone of Qatar's diversified economy, unveiled its bold vision for growth and innovation during an exclusive media roundtable. Led by Aamal Managing Director and Vice Chairman Sheikh Mohamed Bin Faisal Al Thani, the company's leadership outlined its strategic roadmap, showcasing financial resilience, sectoral expansion, and a deep commitment to Qatar's National Vision 2030. Sheikh Mohamed kicked off the session by underscoring Aamal's steady performance through 2024 and into the first quarter of 2025, driven by strong contributions from its industrial manufacturing and services sectors. 'Our diversified portfolio and strategic partnerships deliver sustainable value, positioning us to seize emerging opportunities in Qatar and beyond,' he said. Aamal's financial health remains a key enabler, with a low debt ratio of 2.52 percent at year-end 2024 and shareholders' equity at an impressive 89 percent. Bolstered by QR229 million in net operating cash flow and a cash flow-to-net-income ratio of 1.02, the company is well-equipped to fund growth through internal resources and selective external financing. Aamal's optimism aligns with Qatar's promising economic trajectory. The International Monetary Fund projects real GDP growth of 5.9 percent in 2026 and 7.6 percent in 2027, fueled by the North Field LNG expansion. This macroeconomic momentum, particularly in non-oil sectors, complements Aamal's strategic focus. 'We are poised to play a pivotal role in Qatar's economic diversification,' Sheikh Mohamed noted, emphasising alignment with the National Vision 2030. Aamal is sharpening its industrial focus through strategic moves, including acquisitions and portfolio optimisation. The recent sale of a maritime vessel under Aamal Maritime Transport Services freed capital for high-growth ventures, while plans to expand the fleet are under careful review to meet rising demand. Doha Cables, a flagship subsidiary, earned recognition from Qatar Development Bank's Tasdeer program as one of Qatar's top-value exporters, reinforcing Aamal's global ambitions. Meanwhile, new Kahramaa contracts awarded to Aamal through Al Suwaidi Cables Qatar bolster its role in national infrastructure. 'We currently have accumulated orders from contracts signed over the past two years, valued at approximately QR3 billion. Delivery will commence according to a scheduled timeline that aligns with the country's accelerated pace of new projects,' he said. The launch of Aamal Energy marks a significant step toward sustainability. 'This new division will drive renewable energy and energy efficiency, supporting Qatar's low-carbon transition,' Sheikh Mohamed said. Aamal's real estate portfolio remains a standout, with a 95 percent occupancy rate across its commercial and mixed-use properties. 'Ongoing refurbishments ensure our assets meet evolving market demands,' Sheikh Mohamed said. Despite 24 years since its opening and increasing competition, he said, City Center Mall has maintained its leading position in the market, thanks to Aamal's continuous commitment to development, meeting visitors' expectations, and overall sector advancements. The recent opening of a pedestrian bridge connecting the Doha Exhibition and Convention Center Metro Station directly to City Center Doha has had a positive impact by increasing footfall in the mall. Daily footprint to the mall through the bridge reached 15k per day. The upcoming Arab Souq at City Center, a new project set to open soon, will add a distinctive cultural and commercial touch to the mall. It is expected to feature a diverse range of stores reflecting Arab culture, along with local products, enhancing the overall visitor experience. The Gold Souq is one of the standout additions, attracting a large number of visitors, with its appeal successfully maintained by its tenants. Aamal's real estate portfolio also includes residential compounds and buildings in prime Doha areas such as West Bay Lagoon, Al Messila, and Al Markhiya. New developments in Lusail and Al Wakrah are under review to capitalise on Qatar's urban expansion. 'Curated retail, entertainment innovations, and continuous upgrades sustain high footfall,' he added. The steadily growing population in Qatar, along with ongoing efforts to attract global companies to the country, are key factors driving increased demand for residential real estate in 2025 and beyond. Aamal is committed to continuously investing in its real estate portfolio to maintain its attractiveness and market value. Aamal's healthcare segment led by Aamal Medical and Ebn Sina Medical is set to benefit from Qatar's QR22 billion healthcare investment and the rollout of a national health insurance system. 'These reforms will drive demand for pharmaceuticals, diagnostics, and medical technology,' Sheikh Mohamed said. Digital transformation initiatives are further enhancing supply chain efficiency and customer engagement. In the services sector, Aamal's acquisition and merger of Maintenance and Management Solutions (MMS) with Aamal Services has strengthened its facilities management capabilities. 'This move positions us to meet growing demand from Qatar's expanding hospitality, real estate, and public sectors,' Sheikh Mohamed said. Aamal's commitment to corporate social responsibility (CSR) shines through its community initiatives. The second Aamal Cycling Tour, which drew over 800 cyclists, including a strong Qatari contingent, promoted health, sustainability, and unity. 'This event reflects our dedication to fostering active lifestyles and community spirit,' he said. At the recent Qatar CSR Summit, Aamal was honored with the Best Private Sector CSR Initiative award for its support of local businesses. The company also invests in education, offering scholarships through Ebn Sina Medical to pharmacy students and forging partnerships with academic institutions. Aamal's environmental, social, and governance (ESG) leadership sets a high standard. 'As one of Qatar's first listed companies to issue ESG reports, we're driving sustainability and governance in line with national priorities,' Sheikh Mohamed said. With a solid financial foundation, strategic sectoral expansion, and a steadfast commitment to community and sustainability, Aamal is primed to lead Qatar's next wave of economic progress. 'Our focus remains clear: responsible growth, innovation, and meaningful contributions to Qatar's future,' Sheikh Mohamed concluded.
Qatar Tribune
07-05-2025
- Business
- Qatar Tribune
Aamal secures over QR1 billion Kahramaa deal
Tribune News Network Doha Aamal Company, one of the region's leading diversified companies, on Tuesday announced that Elsewedy Cables Qatar, a subsidiary of Senyar Industries Qatar Holding, one of Qatar's leading industrial groups in which Aamal holds a 50 percent ownership stake, has officially signed a contract with Qatar General Electricity & Water Corporation (Kahramaa) valued at over QR1 billion. Under the contract, Elsewedy Cables Qatar will begin preparations to receive supply and project orders as part of the expansion of Kahramaa's power transmission system in Qatar. This includes the supply and installation of 132 kV power cables, which will be manufactured by Doha Cables, a company created as a partnership between Aamal and El Sewedy Cables. On behalf of Aamal Company, the agreement was signed by Sheikh Faisal Bin Qassim Al Thani, chairman of Aamal Company. The signing ceremony was attended by several company representatives, including Sheikh Mohammed Bin Faisal Al Thani, Aamal Company Vice Chairman and Managing Director; Rashid bin Ali Al Mansoori, Aamal CEO; Ahmed Sadek El Sewedy, CEO of Elsewedy Electric and Ahmed Fathi El Sewedy, Deputy CEO of Senyar Industries Qatar Holding. On this occasion, Sheikh Faisal said, 'We are proud to officially sign this contract with Kahramaa and greatly appreciate the confidence the Corporation has placed in our company. We take pride in the high quality of Elsewedy Cables' products, which will play a vital role in efficiently meeting the needs of this strategic project. We remain committed to providing the best solutions to support the development of Qatar's power and infrastructure sectors.' Ahmed Fathy Elsewedy, deputy CEO of Senyar Industries Qatar Holding, said, 'The signing of this contract marks a new phase in our fruitful partnership with Kahramaa. We are confident that the quality of Elsewedy Cables' products and the expertise of our team will ensure the successful and timely execution of this project to the highest standards. We are committed to supporting Qatar National Vision 2030 by delivering reliable solutions that align with the Country's ambitions and contribute to building advanced infrastructure.'
Zawya
29-04-2025
- Business
- Zawya
Qatar: Aamal revenue up 6.8% to $159.42mln in Q1
Doha, Qatar: The Board of Directors of Aamal Company, one of the region's leading diversified companies, yesterday announced its financial results for the first quarter ended March 31, 2025. The company reported total revenue of QR580.3m up by by 6.8% (Q1 2024: QR 543.3m). The gross profit was down1.3% to QR128.7m (Q1 2024: QR130.4m) and the net profit attributable to Aamal equity holders up 8.3% to QR101.8m (Q1 2024: QR94.0m). Meanwhile the reported earnings per share increased 8.3% to QR0.016 (Q1 2024: QR0.015). The net capital expenditure declined 35.7% to QR6.6m (Q1 2024: QR10.3m). The gearing decreased to 0.9% (Q1 2024: 1.2%). Rashid bin Ali Al Mansoori, Chief Executive Officer of Aamal, commented: 'I am pleased to reporta 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, Senyaronce 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.' 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'. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
28-04-2025
- Business
- Zawya
Aamal reports a solid start to 2025 and robust year-on-year growth
RELATED TOPICS EARNINGS RELATED COMPANIES Qatar Natl Bank Aamal MMS Qatar Folli - Follie Senyar Capital 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.
