Latest news with #AamalCompany
Zawya
08-05-2025
- Business
- Zawya
Aamal signs over QAR1bln contract with Kahramaa awarded last year to Elsewedy Cables
Doha, Qatar – Aamal Company Q.P.S.C., one of the region's leading diversified companies, announced today that Elsewedy Cables Qatar – a subsidiary of Senyar Industries Qatar Holding W.L.L., one of Qatar's leading industrial groups in which Aamal holds a 50% ownership stake – has officially signed a contract with Qatar General Electricity & Water Corporation ("Kahramaa") valued at over QAR 1 billion. Under this 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 H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal Company. The signing ceremony was attended by several company representatives, including H.E. Sheikh Mohammed Bin Faisal Al Thani, Vice Chairman and Managing Director; Mr. Rashid bin Ali Al Mansoori, CEO; Mr. Ahmed Sadek El Sewedy, CEO of Elsewedy Electric; and Mr. Ahmed Fathi El Sewedy, Deputy CEO of Senyar Industries Qatar Holding. On this occasion, H.E. Sheikh Faisal bin Qassim Al Thani, Chairman of Aamal Company Q.P.S.C., commented: '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.' Mr. Ahmed Fathy Elsewedy, Deputy CEO of Senyar Industries Qatar Holding, commented: '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.' 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 4 May 2025, the Company had a market capitalisation of QAR 5.2 bn (US$ 1.4 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. About Senyar Industries Qatar Holding: Senyar Industries Qatar Holding is one of the leading industrial groups in Qatar. It was established in 2007 as a joint venture between Aamal Company Q.P.S.C. and Elsewedy Electric, a regional leader in the manufacture of integrated cables and electrical products. Senyar aims to provide a fully integrated cable manufacturing and project delivery ecosystem, the first of its kind in Qatar. Senyar owns four subsidiaries: Doha Cables, Senyar Drums Factory, Senyar Copper Factory, and Elsewedy Cables Qatar. Aamal holds a 50% stake in Senyar Industries Qatar Holding. About Elsewedy Cables Qatar: Aamal holds a 38.3% stake in Elsewedy Cables Qatar. Established in 2006, Elsewedy Cables Qatar specializes in the distribution of electromechanical equipment, Doha Cables products, and externally manufactured cables, in addition to providing customized solutions for assigned projects.
Qatar Tribune
04-05-2025
- Health
- Qatar Tribune
Aamal, Novo Nordisk join forces to bring weight management drug Wegovy to Qatar
Tribune News Network Doha Ebn Sina Medical, a subsidiary of Aamal Company and a leading supplier of pharmaceutical, and Novo Nordisk, the Danish leading global healthcare company renowned for its expertise in treating chronic diseases such as diabetes and obesity, announced the availability of Wegovy (Semaglutide 2.4mg) in Qatar. The event was attended by HE Anders Bjørn Hansen, the Ambassador of Denmark to the UAE and Qatar, Aamal Company CEO Rashid Al Mansoori, in the presence of Manvendra Singh, General Manager of Novo Nordisk Qatar and Dr. Nayla Mansour, Commercial Director on behalf of Essam Faragalla, General Manager of Ebn Sina Medical. Wegovy (Semaglutide 2.4mg), the first and only once-weekly GLP-1 receptor agonist (GLP-1RA) indicated for chronic weight management in adults and adolescents ages 12 years and above1, is now available in Qatar. Obesity has emerged as a significant global epidemic, affecting approximately 1 billion individuals world-wide2. Obesity in the Gulf is rapidly unfolding with the highest rates globally3. In Qatar, the obesity crisis is particularly severe, the current prevalence of obesity (body mass index [BMI] ≥ 30 kg/m2) amongst adults in Qatar is estimated to be 41% with a notably higher prevalence amongst women (46%) and, nearly 76% of individuals in Qatar are classified as overweight; this places Qatar among the top 10 highest obesity rates in the world4,5,. The high rates of obesity and overweight in Qatar are linked to the high-country overall rates of related chronic conditions such as pre-diabetes, diabetes and cardiovascular diseases (CVDs) 6. The active ingredient in Wegovy, Semaglutide 2.4 mg, works by reducing hunger and increasing the feeling of fullness 1,7. Wegovy is indicated as adjunct to reduced calorie intake and increased physical activity for weight management, including weight loss and weight maintenance in adults with obesity (BMI ≥ 30 kg/m2) or with overweight (BMI ≥ 27 kg/m2) in the presence of at least one weight-related comorbidity. As per clinical research, Wegovy on top of diet and exercise delivers 17% mean weight loss sustained over 2 years with one third of patients having a reduction of at least 20% body weight loss 1,8,9,10. Semaglutide 2.4 mg demonstrated significant improvements in other cardiometabolic risk factors such as: waist circumference, blood pressure, lipid profile, Glycemic parameters & C-reactive protein. The SELECT clinical study including 17,604 adults with a BMI ≥27 kg/m2 demonstrated that Semaglutide 2.4 mg resulted in a statistically significant 20% risk reduction in Major Adverse Cardiovascular Events (MACE) in people with overweight or obesity and established CVD, without T2DM1,15. Besides its indication in adults, Wegovy is also approved as the first and only once weekly GLP-1 receptor agonist (GLP-1RA) for chronic weight management in adolescents with obesity from the age of 12 years1. This innovation may help transform the medical management of adolescent obesity in Qatar, where nearly 20% of children and adolescents are affected.6;11 During the event, Rashid bin Ali Al Mansoori, Aamal Company CEO, welcomed the attendees and highlighted this major step forward in addressing this public health challenge. He emphasized Aamal's commitment to advancing healthcare innovation and infrastructure in Qatar, through its subsidiaries such as Ebn Sina Medical in alignment with the country's National Health Strategy and Vision 2030, and reaffirmed Aamal's dedication to supporting access to the latest healthcare solutions that can positively impact the lives of individuals and the health of our wider community. From Novo Nordisk's side, Manvendra Singh, General Manager Novo Nordisk Qatar said: 'At Novo Nordisk, we are proud to bring over 100 years of global leadership in chronic disease management and 25 years of dedicated obesity research to Qatar. The availability of Wegovy marks a significant step in addressing obesity as a serious, chronic disease. As Qatar continues to face high rates of obesity, diabetes, and cardiovascular disease, our collaboration with Ebn Sina is vital. Together, we are committed to strengthening the healthcare landscape and improving patient outcomes through innovative, science-driven solutions.' Ebn Sina Medical General Manager Essam Faragalla added: 'At Ebn Sina Medical, we are committed to ensuring that the people of Qatar have access to world-class healthcare solutions. This partnership with Novo Nordisk marks a significant milestone in our journey to address the rising prevalence of obesity and related health complications in the country. We enjoy a long-standing relationship with Novo Nordisk and share a unified vision to prioritize patient-centric care. The introduction of Wegovy reflects our continuous drive to deliver innovative treatments and reinforces our role as a trusted healthcare partner aligned with Qatar's National Health Strategy.'
Trade Arabia
01-05-2025
- Health
- Trade Arabia
Novo Nordisk, Ebn Sina Medical launch Wegovy in Qatar
Ebn Sina Medical, a subsidiary of Aamal Company and a leading supplier of pharmaceutical, and Novo Nordisk, the Danish global healthcare company, have announced the availability of Wegovy (Semaglutide 2.4mg) in Qatar. The event was attended by Anders Bjørn Hansen, the Ambassador of Denmark to the UAE and Qatar, Aamal Company CEO Rashid Al Mansoori, Manvendra Singh, General Manager of Novo Nordisk Qatar and Dr Nayla Mansour, Commercial Director of Ebn Sina Medical. Wegovy® (Semaglutide 2.4mg), the once-weekly GLP-1 receptor agonist (GLP-1RA) indicated for chronic weight management in adults and adolescents ages 12 years and above, is now available in Qatar. Obesity has emerged as a significant global epidemic, affecting approximately 1 billion individuals world-wide. Obesity in the Gulf is rapidly unfolding with the highest rates globally. In Qatar, the obesity crisis is particularly severe, the current prevalence of obesity (body mass index [BMI] ≥ 30 kg/m2) amongst adults in Qatar is estimated to be 41% with a notably higher prevalence amongst women (46%) and, nearly 76% of individuals in Qatar are classified as overweight. This places Qatar among the top 10 highest obesity rates in the world, a statement said quoting statisitics. The high rates of obesity and overweight in Qatar are linked to the high-country overall rates of related chronic conditions such as pre-diabetes, diabetes and cardiovascular diseases (CVDs). The active ingredient in Wegovy®, Semaglutide 2.4 mg, works by reducing hunger and increasing the feeling of fullness. Wegovy is indicated as adjunct to reduced calorie intake and increased physical activity for weight management, including weight loss and weight maintenance in adults with obesity (BMI ≥ 30 kg/m2) or with overweight (BMI ≥ 27 kg/m2) in the presence of at least one weight-related comorbidity. As per clinical research, Wegovy on top of diet and exercise delivers 17% mean weight loss sustained over 2 years with one third of patients having a reduction of at least 20% body weight loss. Semaglutide 2.4 mg demonstrated significant improvements in other cardiometabolic risk factors such as: waist circumference, blood pressure, lipid profile, Glycemic parameters & C-reactive protein, the statement said. The SELECT clinical study including 17,604 adults with a BMI ≥27 kg/m2 demonstrated that Semaglutide 2.4 mg resulted in a statistically significant 20% risk reduction in Major Adverse Cardiovascular Events (MACE) in people with overweight or obesity and established CVD, without T2DM1, it said. Besides its indication in adults, Wegovy® is also approved as the first and only once weekly GLP-1 receptor agonist (GLP-1RA) for chronic weight management in adolescents with obesity from the age of 12 years. This innovation may help transform the medical management of adolescent obesity in Qatar, where nearly 20% of children and adolescents are affected, it noted. - TradeArabia News Service
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
Yahoo
23-04-2025
- Business
- Yahoo
Edison Issues Report on Aamal Company (AHCS)
London, United Kingdom--(Newsfile Corp. - April 23, 2025) - Edison issues report on Aamal Company (QSE: AHCS). Aamal Company is a highly diversified conglomerate in Qatar operating across four business segments: Trading and Distribution, Industrial Manufacturing, Property and Managed Services. The company offers exposure to Qatar's forecast strong economic growth in the medium term, especially in the key non-hydrocarbon sectors, due to an increase in government spending to diversify the country away from its dependence on liquefied natural gas (LNG) exports. Aamal trades at a 26% discount relative to peers in the Middle East and North Africa (MENA) region on an FY25e EV/EBITDA basis and at a 43% discount on an FY25e P/E basis. We initiate coverage with a valuation of QAR1.22 per share, approximately c 40% above the current share price. Click here to read the full report. All reports published by Edison are available to download free of charge from its Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: enquiries@ Connect with Edison on: LinkedIn To view the source version of this press release, please visit Sign in to access your portfolio
