Qatari Investors Group holds ordinary general assembly meeting

Qatari Investors Group through its subsidiaries, managed to provide support and logistical services during preparations to host the historic FIFA World Cup Qatar 2022 as part of its “commitment to contribute to building the State of Qatar”, company chairman Abdulla Nasser al-Misnad said on Tuesday.
He was presenting the company’s annual report at its annual general meeting. Dany Mikhael Chrabieh, Board Member, presented the report on behalf of al-Misnad.
“In this vein, the services furnished varied at many levels. At the technological sector level, a number of tournament stadiums were equipped with state-of-the-art innovative digital systems in securing stadiums. The marine services sector also played a role in receiving one of the world’s top luxury residential cruise ships that hosted many of the tournament’s guests during its docking in Qatar.
“As for the transport sector, QIG, through one of its subsidiaries, played a pivotal role in facilitating inland road transport services through its strategic partnerships as a major transport service-provider during the World Cup. Through its partners, QIG also played an important role in highlighting the branding and designs needed for the eight stadiums that hosted the World Cup, in addition to 100 competition venues outside the stadiums.”
QIG achieved revenues of QR744mn and net profit amounted to QR192mn, which resulted in a net profit margin of 26% during 2022.
Before deducting interest, taxes, depreciation and amortisation, the company made a profit of QR319mn. QIG’s operating activities achieved net cash liquidity of QR290mn. Total assets amounted to QR4.8bn (as of December 31, 2022).
The report said, “By taking the company’s track record during the year ending on December 31, 2022 into consideration, we can deduce the basis that helped form the company’s belief during the previous year and the years before, in which the successive boards of directors succeeded in directing and leading the executive management to maintain the company’s plans for continuity and sustainability in a way that guaranteed the achievement of reasonable profits for the company and the shareholders even during difficult economic periods, which crystallises the real achievement of the group.
“Diversifying sources of income by investing in many sectors, especially the industrial, logistical and security sectors, has resulted in a number of investments that achieved a balance in the overall revenue in a manner in which each sector of investment supports the other, and even compensates for any potential stagnation.
“The success of this strategy over the past years is what encourages us to continue to be committed and support diversification in investment during 2023 to make more achievements that benefit the company and shareholders and make us play a role in supporting Qatar's economic vision.”
QIG said it “seeks to achieve a balance to be able to finance its growth and strategy while maintaining the necessary levels of liquidity.”
Accordingly, the board of directors has recommended a dividend distribution of Dh15 per share.
“Further, QIG is also always working to develop its investment portfolios by developing the current business sector and promoting local investments, especially in light of the economic planning of the Qatar National Vision 2030. We bear in mind the path towards sustainable development considering the great interest paid in this regard by the world in general, and the interest of the Qatar Stock Exchange in promoting the global sustainability agenda.”