Ezdan’s 2015 net profit jumps 22% to QR1.66bn
February 16 2016 10:38 PM
Sheikh Dr Khalid (left) and al-Obaidli: Achievements exceeding all expectations.

In a clear reflection of its policies to minimise the impact of economic recession, Ezdan Holding Group has posted a net profit of QR1.66bn in 2015, up 22% on 2014.
The company’s assets reached QR46.9bn in 2015 compared with QR43.4bn in 2014. Operating profits reached QR1.9bn in 2015 compared with QR1.6bn the previous year, representing an increase of 19%.
Earnings per share (EPS) reached Dh63 in end-2015 compared with Dh51 in the same period in 2014.
Ezdan’s board of directors at its meeting yesterday recommended distribution of cash dividends of Dh50 a share to shareholders, an increase of 25% compared to last year.
The Ezdan group’s investments spread over seven vital business sectors such as real estate, takaful insurance, banking, financial services, food security, media, health, and industry.
On Ezdan’s 2015 financial results, chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani said, “The group’s achievements have exceeded all expectations despite global repercussions caused by the drop in oil prices, which has massively influenced a wide range of vital sectors in the region, including the financial markets.”
He said, “Ezdan’s success in gaining such earnings reflects the efficiency of its pre-emptive studies in relation to investments set for the year.
The group was able to come up with solutions that “avoided the impact” of economic recession. Such solutions involved taking well-studied strategic decisions with regard to distributing the group’s shares in sister companies and pumping up investments into the financial markets. The group is keen to move forward with its diversified investment plan to mitigate risks as per its plan in order to increase profits, enhance financial performance, and contribute in supporting the national economy, it said.
Ezdan Holding Group CEO Ali al-Obaidli said the company’s steady performance vis-à-vis financial results was due to a number of “important” factors. These include the group’s “success in executing its operational performance enhancement plan” in all its projects, by carrying out a “wide-range of improvements” on its existing assets and re-assessing them.
He said 2015 had seen an “unprecedented” increase in the group’s cash flow from operating projects.
Al-Obaidli also said 2015 was an “exceptional” year for the group in regard to its stocks on the bourse, noting that Ezdan’s share had seen a “great demand” after being included in the MSCI Emerging Markets Index. Moreover, the group was on the lead in the Qatar Stock Exchange, in relation to traded shares in real estate, as it acquired up to 49.6% of traded shares during 2015.
The CEO said Ezdan would diligently pursue construction and launching of many malls this year. He expressed confidence that the group’s operational profits would continue to grow during the current year, despite challenges that the markets were facing.
The number of residential units, both owned and managed by Ezdan Holding, has reached nearly 20,000 units, ranging between residential and commercial.
The Group’s leasing transactions have seen an increase in 2015, with increasing demand for Ezdan’s units, which attracted more than 90,000 residents.
As for Ezdan’s “success in the hospitality sector”, the number of rooms and suites in the group’s hotels chain has exceeded 3,900 units, spread over Ezdan Hotels West Bay, Ezdan Palace Hotel that is being finalised, and The Curve Hotel where the groups owns a “strategic” share.
In the malls category, Ezdan owns a total area in excess of 195,000 sq m spread over three main malls. Ezdan Mall Al Gharafa that was opened in 2013 has already reached full occupancy.  Both Ezdan Mall Al Wakrah and Al Wukair will be opened in the current year.

Last updated: February 16 2016 10:45 PM

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