Istithmar Holding Q.P.S.C. announced its audited financial statements for the fiscal year ending on December 31, 2022, as the financial and operational results of the group confirmed its leading position in the market through its subsidiaries and listed operational projects.
The financial results of Istithmar Holding revealed the following:
- Outperforming financial performance in relation to the main results compared to the previous year.
- A noticeable increase in revenues by 32.2%, which amounted to 4,237.8
One million Qatari riyals at the level of all business units.
Earnings before interest, tax, depreciation and debt amortization
517.7 million Qatari riyals, an annual increase of 18.0%. - A noticeable increase in revenues by 32.2%, which amounted to 4,237.8
- The net profit attributable to the shareholders of the company amounted to 338.2 million riyals
QatariEarnings per share amounted to 0.107 Qatari riyals, noting that
(The calculation was based on the weighted average number of shares*)
The financial results announced by Istithmar Holding today reflect exceptional performance
Over the past year, which promises more success and expected growth for the company
in the coming years.
On this occasion, the Chairman of the Board of Directors of Investment Holding, Mr. Mohamed Moataz Al-Khayyat, stated:
“Istithmar Holding Company was launched as a Qatari public shareholding company to contribute to supporting the National Vision 2030 and strengthening the role of
The private sector in developing the local economy and expanding internationally, and we are pleased that in 2022 we developed and launched a number of development projects in the tourism, hospitality and entertainment sectors that were tributary to the State of Qatar hosting the 2022 World Cup and a key factor for tourism in Qatar. In addition, the company also launched projects to support the health sector in the country with global partnerships.
The exceptional financial results achieved by the company for this year, accompanied by the future strategy for regional and international expansion, are only the beginning of the road to more successes that will benefit the shareholders, God willing.”
The Board of Directors of the company has recommended to the General Assembly not to distribute profits for the financial results achieved for the year ending on December 31, 2022, provided that the company has achieved net profits that allow it to distribute profits to shareholders,
Where the Board decided to keep the profits within the company for the year 2023 and employ them in new projects that bring more future returns to the company and shareholders together.
This recommendation of the Board of Directors would support the company’s growth plan and contribute to a strong financial flow to face the global effects resulting from the rise in interest rates and any fluctuations in the global markets now and in the future.
For his part, Henrik Christiansen, Chief Executive Officer of Istithmar Holding Company, said: “In view of the results we have achieved, we will find that they are proof of the success of the company’s strategy and a reflection of the continued demand for our services, the development of operational processes, and the integration between the companies’ businesses. Revenues increased in 2022 to 4,237.8 million Qatari riyals, an increase of 32.2% compared to last year. It should be noted that the revenues received from projects in the health care and tourism sectors have started in the last quarter of 2022. Most importantly, EBITDA amounted to QR 517.7 million for the year 2022, despite the high costs of raw materials and transportation.”
Istithmar Holding has so far maintained a strong position for the balance sheet and credit metrics as the interest coverage ratio is currently 7.7 times, and the net debt to net profit ratio (before interest, tax, depreciation and amortization) is 3.54 times.
The volume of business contracted with Istithmar Holding and the stage for the next year amounted to 2,428 million Qatari riyals on December 31, 2022, in addition to a package of agreed long-term projects worth 16,870 million Qatari riyals, as these numbers, in addition to the contracts concluded and renewed, reflect the correctness and effectiveness of the strategy followed. It is customer-centric and provides the best services, products and innovations available by the company. It is expected that business growth will rise in the coming years, which will positively affect the increasing demand for services provided by each business unit within Investment Holding.
Note: Earnings per share is the net profit attributable to the shareholders of the company amounting to QR 338.2 million divided by the weighted average number of shares attributable to the shareholders.
The most important stations of the company in 2022
Oryx Island
Al Maha Island was developed by Istithmar Ventures, the arm of Istithmar Holding for investment and development in the tourism sector.
The typical entertainment city that offers tourists and visitors coming to Qatar from all over the world adventures and recreational activities in an atmosphere of fun and entertainment, and 12 restaurants and cafes of the most luxurious and famous brands.
Katara Hills Resort
The company launched the Katara Hills Resort, in partnership with “Katara”, to be another stop in the world of high-end hospitality and to keep pace with the country’s achievements and tireless efforts to provide what is best for its visitors. An attractive interior to form additional elements of the tourist attraction, as the new location provides the opportunity to enjoy a quiet stay amidst the wide green areas, in addition to enjoying all the luxury elements provided by the resort facilities, starting with the spa, passing through the famous Indian “Gymkhana” restaurant, in addition to the availability of a special service team. for guests
Maysan Resort
Maysan Resort was launched in Aspire Zone, a new concept of luxury and a unique experience to enjoy all the elements and facilities provided by the resort, starting from 20 suites and 15 villas with swimming pools and private gardens, in addition to the spa, La Casa restaurant, cigar lounge, and a large main swimming pool. The project, which is 15 minutes away from the city center, takes a place that enjoys privacy, green natural designs, and attractive interior décor that gives a special touch to its visitors.
“The View” Hospital, in cooperation with the American Medical Center Cedars-Sinai, “The View” Hospital was inaugurated on December 18, 2022 to be one of the leading medical facilities that seek to make a qualitative leap in the field of modern health care by following a promising medical vision that focuses on giving visitors an experience A unique treatment that is very comfortable and flexible by attracting the best professional cadres in various specialties and using the latest medical systems and methods, as well as strengthening partnerships with world-leading institutions and adopting unprecedented standards that guarantee the hospital excellence and staying at the forefront of this vital sector.
The hospital includes 240 beds, 12 operating rooms and 20 intensive care units, all of which are designed to provide various types of health care, from primary to secondary and tertiary health care. The operating rooms are also equipped with the latest technology
Medical systems and technologies for performing various minimally invasive surgeries, which are currently the latest in the world of surgery. The hospital also has the best surgical robots, including the “Da Vinci robot” and the “Artis Veno robot,” which help in performing surgeries faster, more accurately, and with fewer complications, ensuring a faster recovery journey for the patient, in addition to a recovery garden, the first of its kind in the country. The View Hospital is part of
“Elegancia Healthcare” subsidiary of the “Investment” Holding Group.
in the future
The company has concluded agreements for future projects based on its strategy to expand geographically in the Kingdom of Saudi Arabia, the People’s Democratic Republic of Algeria, the Arab Republic of Egypt and the Republic of the Maldives. The company has also established a number of projects in the health care, tourism and prefabricated construction sectors.
