Latest news with #IndustriesQatar
Zawya
5 days ago
- Business
- Zawya
Industries Qatar net profit amounts to $549mln in H1 2025
Doha: Industries Qatar yesterday reported a net profit of QR2bn for the six-month period ended 30 June 2025, representing a decline compared to H1 2024. During the first half of 2025, the global macroeconomic landscape remained subdued, reflecting continued volatility across both advanced and emerging economies. Growth momentum weakened amid persistent geopolitical tensions and sustained monetary tightening by major central banks. The aftermath of electoral transitions in several key economies added further uncertainty, dampening investor confidence and curbing private sector spending. Although global inflation showed signs of moderating relative to the previous year, elevated production costs driven by lingering supply chain disruptions continue to constrain economic activity in several regions, making near-term forecasting increasingly uncertain. Operational performance remained resilient across the Group's segments during the period, despite the impact of both planned and unplanned maintenance shutdowns. During the current quarter, planned maintenance activities were successfully completed at certain facilities within the fertilizer segment. In parallel, some facilities within the steel and polyethylene segments underwent unplanned shutdowns, undertaken as precautionary measures to ensure operational reliability and safeguard critical assets. The fuel additives segment resumed operations at full capacity during the current quarter, following an unplanned shutdown in the previous period. Despite the progressive ramp-up of steel production for previously mothballed facilities, utilisation rates continue to demonstrate operational resilience. The group reported a consolidated net profit of QR2bn for the six-month period ended 30 June 2025, reflecting a decline versus H1 2024 restated net profit. Sales volumes for H1 2025 remained relatively stable compared to the same period in 2024. This performance was achieved despite challenging market conditions, characterized by weaker demand across all operating segments, volatile macroeconomic factors, regional instability, and ongoing uncertainty around global trade. Operating costs for H1 2025 have increased moderately compared to the same period in 2025. The rise was primarily driven by higher price-linked variable costs, elevated fixed operating costs associated with maintenance shutdowns, and the impact of general inflation. The Group's financial performance for the period was also impacted due to lower non-operating income as a result of a lower interest rate environment, and absence of one-off gain on reversal of provision for financial guarantee and gains recognised on acquisition of a subsidiary in H1 2024. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
5 days ago
- Business
- Zawya
Industries Qatar reports $549mln net profit in H1, approves 26% interim dividend
Qatar - Market heavyweight Industries Qatar (IQ) – the holding entity of Qatar Petrochemicals, Qatar Fertiliser and Qatar Steel – has reported net profit of QR2bn in the first half (H1) of 2025. The board has approved a total interim dividend of QR1.6bn, equivalent to QR0.26 per share, representing 26% of nominal share value for the period ended June 30, 2025. Against H1-2024, production volumes increased, as lower production from the fertiliser segment was fully offset by higher production from the steel segment. Production levels in the petrochemicals remained broadly unchanged. The consolidated net profit for H1-2025 saw a 27% yearly decline, reflecting lower operating margins, even as revenue improved slightly versus H1-2024. The group's financial position continues to remain robust, with proportionate consolidated cash and bank balances at QR9.9bn as of June 30, 2025, after accounting for a dividend payout relating to H2-2024 amounting to QR2.6bn, capital expenditure investment, and working capital requirements. Currently, IQ has no long-term financial debt obligations. It generated positive operating cash flows of QR1.8bn and invested QR1.2bn in capital expenditure and projects under development, thereby generating free cash flow of QR0.6bn. Petrochemicals segment reported a net profit of QR488mn in H1-2025, down 32% year-on-year, linked to lower revenue and a decline in operating margin contributed to an increase in operating costs. Revenue declined 6% to QR2.53bn on account of lower sales volumes and a marginal decline in selling prices. The fall in both sales volumes and prices was due to a combination of both internal and external factors. The fertiliser segment reported a net profit of QR1.1bn in H1-2025, an 8% jump on an annualised basis, primarily driven by higher revenues, supported by improved average realised prices. Revenues were up 6% to QR3.87bn. The steel segment saw a net profit of QR265mn in H1-2025, a 26% plunge year-on-year. While gross and operating margins improved (about 1%), supported by improved cost efficiencies, net profit margin declined due to the absence of a one-off gain related to the reversal of a financial guarantee recorded in H1-2024 together with lower results from associates. On a like-for-like basis, profitability remained stable and in line with historical averages. Segment revenue increased by 20% to QR2.3bn, driven by higher sales volumes resulting from the restart of previously mothballed production facilities. © Gulf Times Newspaper 2025 Provided by SyndiGate Media Inc. (
Zawya
7 days ago
- Business
- Zawya
Mideast Stocks: Gulf equities end mixed on corporate earnings; Egypt on new record high
Gulf stock markets were mixed on Wednesday as investors assessed a raft of corporate earnings and awaited clarity on the U.S. Federal Reserve's leadership. Trump said he would name a nominee to replace outgoing Fed Governor Adriana Kugler by the end of the week, and has narrowed the shortlist for Fed Chair Jerome Powell's successor to four candidates. Expectations of a U.S. interest rate cut strengthened after Friday's weaker-than-expected jobs data, with traders now pricing in a 94% chance of a September cut, up from 63% at the end of July, according to CME FedWatch. Interest rate moves by the Fed have a significant impact on the Gulf region's monetary policy as most of its currencies are pegged to the U.S. dollar. The Qatari benchmark index gained 0.4% to 11,326, its highest level in more than 2-1/2 years, with most stocks in positive territory. Industries Qatar rose 1.1% and AlRayan Bank advanced 2.3%. Saudi Arabia's benchmark stock index edged up 0.2%, lifted by a 2.1% rise in Saudi Basic Industries and a 5.4% jump in Arabian Centres after the mall operator reported a 34.2% increase in second-quarter net profit. Riyadh Cement slipped 2.8% after posting a 10.8% decline in quarterly net profit. Dubai's benchmark stock index slipped 0.2% as most constituents declined. Dubai Islamic Bank, the UAE's largest Islamic lender, dropped 2.1% and Parkin Company lost 1.1%. "Markets in the UAE were under pressure as they remained exposed to price corrections after weeks of gains," said Joseph Dahrieh, managing Principal at Tickmill. The Abu Dhabi benchmark index was little changed as the gains in real estate, technology and energy stocks offset losses in industry, health care and telecom. Aldar Properties climbed 3% and ADNOC Gas , advanced 1.5% after gas processing and sales company reported a 16% rise in second-quarter net profit and declared an interim dividend of $1.792 billion, a 5% increase from a year earlier. Outside the Gulf, Egypt's blue-chip index advanced for a fifth day and rose 0.6% to hit a fresh record high at 35,480. Telecom Egypt soared 4.8% and Fawry for Banking Technology gained 1.9%. Meanwhile, Egypt's net foreign reserves rose to $49.036 billion in July from $48.7 billion in June, the central bank said on Tuesday. SAUDI ARABIA up 0.2% to 10,947 KUWAIT lost 0.3% to 9,216 QATAR rose 0.4% to 11,326 EGYPT up 0.6% to 35,480 BAHRAIN fell 0.1% to 1,946 OMAN up 0.2% to 4,809 ABU DHABI ended flat at 10,330 DUBAI lost 0.2% to 6,156 (Reporting by Md Manzer Hussain; Editing by Vijay Kishore)
Zawya
21-07-2025
- Business
- Zawya
Mideast Stocks: Most Gulf stocks slip on U.S. tariff worries; Egypt at record high
Gulf stock markets ended mixed on Sunday, as investors looked ahead to corporate earnings and weighed renewed U.S. tariff threats. Sentiment soured after the Financial Times reported on Friday that U.S. President Donald Trump is pushing for a minimum tariff of 15% to 20% in any deal with the European Union, with the administration now considering reciprocal tariffs exceeding 10%, even if an agreement is reached. Trump's imposition of tariffs around the world risks hurting global economic growth and oil consumption. Saudi Arabia's benchmark index dropped 0.4%, surrendering early gains and extending its losing streak to nine sessions, the longest stretch in nearly two years, hit by broad sector declines. Saudi National Bank, the country's biggest lender by assets, fell 0.8%, and Saudi Arabian Mining Company declined 1.3% following the voluntary retirement of its chief financial officer. Among other fallers, Fawaz AbdulAziz Al Hokair & Co gave up early gains to end 10% lower, the top loser on the index. The retail and real estate firm sold a 49.95% stake to Emirati conglomerate Al Futtaim Retail in a deal worth over 2.5 billion riyals ($666.52 million). Qatar's stock index added 0.2%, nearing a two-year peak, led by a 1.2% rise in petrochemical maker Industries Qatar . Outside the Gulf, Egypt's blue-chip index gained 0.7%, hitting a record high as most sectors advanced, driven by optimism over the country's International Monetary Fund programme. Finance Minister Ahmed Kouchouk said on Wednesday he was confident the country would hit its key economic reform targets and complete a delayed review of its $8 billion IMF programme by September or October. Market sentiment was further bolstered by the oversubscribed Bonyan Development and Trade IPO, which was covered more than 33 times. Bloomberg News reported that Egypt is planning $4 billion in international bonds over the next year. Reuters could not immediately verify the news. SAUDI ARABIA slipped 0.4% to 10,965 QATAR gained 0.2% to 10,942 EGYPT added 0.7% to 34,071 BAHRAIN eased 0.1% to 1,944 OMAN advanced 0.4% to 4,674 KUWAIT dropped 0.2% to 9,288 ($1 = 3.7508 riyals) (Reporting by Amna Mariyam and Ateeq Shariff in Bengaluru; Editing by Susan Fenton)
Reuters
20-07-2025
- Business
- Reuters
Most Gulf stocks slip on U.S. tariff worries; Egypt at record high
July 20 (Reuters) - Gulf stock markets ended mixed on Sunday, as investors looked ahead to corporate earnings and weighed renewed U.S. tariff threats. Sentiment soured after the Financial Times reported on Friday that U.S. President Donald Trump is pushing for a minimum tariff of 15% to 20% in any deal with the European Union, with the administration now considering reciprocal tariffs exceeding 10%, even if an agreement is reached. Trump's imposition of tariffs around the world risks hurting global economic growth and oil consumption. Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.4%, surrendering early gains and extending its losing streak to nine sessions, the longest stretch in nearly two years, hit by broad sector declines. Saudi National Bank ( opens new tab, the country's biggest lender by assets, fell 0.8%, and Saudi Arabian Mining Company ( opens new tab declined 1.3% following the voluntary retirement of its chief financial officer. Among other fallers, Fawaz AbdulAziz Al Hokair & Co ( opens new tab gave up early gains to end 10% lower, the top loser on the index. The retail and real estate firm sold a 49.95% stake to Emirati conglomerate Al Futtaim Retail in a deal worth over 2.5 billion riyals ($666.52 million). Qatar's stock index (.QSI), opens new tab added 0.2%, nearing a two-year peak, led by a 1.2% rise in petrochemical maker Industries Qatar ( opens new tab. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab gained 0.7%, hitting a record high as most sectors advanced, driven by optimism over the country's International Monetary Fund programme. Finance Minister Ahmed Kouchouk said on Wednesday he was confident the country would hit its key economic reform targets and complete a delayed review of its $8 billion IMF programme by September or October. Market sentiment was further bolstered by the oversubscribed Bonyan Development and Trade ( opens new tab IPO, which was covered more than 33 times. Bloomberg News reported that Egypt is planning $4 billion in international bonds over the next year. Reuters could not immediately verify the news. ($1 = 3.7508 riyals)
