Latest news with #AutomotiveGroup
Zawya
19-02-2025
- Business
- Zawya
Qatar: Mannai Corporation posts gross profit of $0.3bln on consolidated revenue of 1.5bln for 2024
DOHA: Mannai Corporation yesterday announced its financial results for the year ended December 31, 2024. The group revenue for the year is QR5.6bn, driven by the jewellery business continuing its year on year growth by 9.4 percent over last year and contributing 26 percent of the total group revenue. The Information and Communication Technology business contributed 50 percent of the total group revenue and 15 percent from automotive group. The group gross profit was above QR1bn, an increase of 4 percent compared to the last year as a result of improved gross profit margins. Earnings before Interest and Taxes (EBIT) for the period were QR402m. The net profit for the year was QR171m, slightly ahead of the previous year, after finance costs of QR225m incurred during the year. Earnings-per-share for the year ended were QR0.37 compared to QR0.37 for the last year. Our core businesses in Qatar, led by Information and Communication Technology and the Automotive Group, remained major contributors to the group's revenue and net profit. The last quarter of the year was exceptionally strong in terms of growth and overall profit contribution for the year, helping to deliver the full year Group results. The Group is well-positioned to seize future opportunities and navigate potential challenges effectively. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Yahoo
07-02-2025
- Automotive
- Yahoo
Continental names new CTO for Automotive
Continental has appointed of Nino Romano as the new chief technology officer (CTO) of its Automotive Group sector. Continental has unveiled plans to list its automotive unit on the Frankfurt stock exchange by the end of 2025. This move is also to make its original equipment solutions (OESL) division, which supplies rubber products to automotive manufacturers, an independent entity. Nino Romano, who previously served as head of quality and operations, takes over from Gilles Mabire, who left the company in November. Romano has been with the German automotive supplier since 1993, holding various roles in research, development, and quality management. His experience includes leading development for electronic brake systems in the Vehicle Dynamics business area and serving on the Automotive Management Board since 2020. Under Romano's leadership, the new CTO organisation will consolidate technology and operations. The quality division will now function independently within the Automotive group sector. Continental executive board member and Automotive group sector head Philipp von Hirschheydt said: 'With his extensive experience and expertise, Nino Romano is the ideal person to merge the key areas of technology and operations as CTO. 'This will not only create additional added value for our customers and investors as we prepare for independence, but will also enable us to drive innovation even more efficiently and effectively.' Last month, Continental announced the closure of four plants and the downsizing of two others within its ContiTech division. The move comes because of drop in demand in key customer industries such as automotive and lignite mining. The decision is expected to affect approximately 580 employees. The closures will occur at the sites in Bad Blankenburg, Stolzenau, Moers, and the dual location in Frohburg and Geithain. "Continental names new CTO for Automotive" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
