Qatar Navigation Q.P.S.C. (Milaha), has announced its financial results for the nine months ended September 30, 2024.
Key financial highlights:
• Operating revenues of QAR 2.13 billion for the ninemonths ended September 30, 2024, compared to QR 2.23 billion for the same period in 2023
• Operating profit of QAR 445 million for the nine months ended September 30, 2024, compared to QAR 404million for the same period in 2023
• Net profit of QAR 917 million for the nine months ended September 30, 2024, compared to QAR 870 million for the same period in 2023
• Earnings per share increased to QAR 0.81 for the ninemonths ended September 30, 2024, compared to QAR 0.77 for the same period in 2023
Milaha Maritime & Logistics’ net profit increased by QAR 1 million compared to the same period in 2023, driven byincreased project income from our shipyard operations.
Milaha Gas & Petrochem’s net profit increased by QAR 31million compared to the same period in 2023, largely due tostrong results from our associate companies.
Milaha Offshore’s net profit decreased by QAR 22 million compared to the same period in 2023, mainly due torequired vessel maintenance that reduced revenues, and the non-recurrence of favorable accounting adjustments recorded in 2023.
Milaha Capital’s net profit increased by QAR 51 millioncompared to the same period in 2023, driven by higher earnings from our financial investments arm.
Milaha Trading’s bottom line decreased by QAR 13 millioncompared to the same period in 2023, driven by decreasedsales of heavy equipment and ancillary marine goods and services.
The company will conduct an investor conference call on Thursday, October 24 at 1:00pm Doha time, to further discuss its results. The conference call may be accessed by telephone by dialing (00800101734) and entering the Conference ID: (1124995).
