Qatar Navigation Q.P.S.C. (“Milaha”), the industry-leading provider of maritime and logistics solutions in the region, announced its financial results for the three months ended March 31, 2026.
Key financial highlights:
- Operating revenues of QR 874 million for the three months ended March 31, 2026, compared to QR 759 million for the same period in 2025
- Operating profit of QR 150 million for the three months ended March 31, 2026, compared to QR 212 million for the same period in 2025
- Net profit of QR 297 million for the three months ended March 31, 2026, compared to QR 374 million for the same period in 2025
- Earnings per share of QR 0.26 for the three months ended March 31, 2026, compared to QR 0.33 for the same period in 2025
Milaha Maritime & Logistics’ bottom line decreased by QR 15 million compared to the same period in 2025, primarily due to lower volumes across its container shipping unit and port operations joint arrangement, because of operational disruptions linked to the regional conflict.
Milaha Gas & Petrochem reported a QR 5 million decline in net profit compared to the same period in 2025, mainly due to the divestment of two very large gas carriers (VLGCs) in 2025.
Milaha Offshore’s net profit decreased by QR 36 million compared to the same period in 2025, driven by lower EPCIC income and the effects of the regional conflict, which negatively impacted vessel utilisation and resulted in higher operating costs.
Milaha Capital recorded a QR 13 million decline in net profit compared to the same period in 2025, primarily due to the non‑recurrence of a favourable bad debt adjustment recognised in 2025, as well as reduced dividend income.
Milaha Marine & Technical Services reported a QR 9 million decline in net profit compared to the same period in 2025, mainly due to higher bad debt provisions and lower income arising from operational disruptions linked to the regional conflict.
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