GWC achieved a net profit of QR236mn in 2020 with gross revenues reaching QR1.23bn at the end of last year, the company said Tuesday.
Earnings per share (EPS) stood at QR0.40 by the end of the same period.
GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani
The company's board of directors recommended 10% cash dividend to shareholders, which is subject for discussion and approval during the company’s annual general meeting scheduled for February 15.
“We are pleased with our performance this year, we will point back in the future to 2020 as a year in which Qatar stood stronger, more diverse and more resilient as a nation, God willing. Thanks to everyone who entrusted GWC to meet this year’s challenge and prove that we have the ability to stretch our capacities and deliver under the most difficult circumstances,” GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani stated.
GWC Group CEO Ranjeev Menon
“We present our gratitude to the frontline workers, not only in hospitals and public healthcare centres, but also those working in the service industry, from the top of the pyramid to the bottom, whether at the ports, the warehouses, and everywhere else. Their work has maintained the nation’s progress, and we appreciate the commendable sacrifices, and hope we may, in our simplest of ways, have performed our duty in this pursuit, and look forward to a world blessed with peace and safety in the coming years,” he added.
In an unprecedented year, the logistics sector shone through as a critical infrastructure ensuring the continuity and safety of the nation and its economy. As the leading logistics provider in Qatar, GWC succeeded in supplying the public and private sectors in Qatar with lean, reliable and global standard logistics solutions that have kept the country moving.
Facing incredible challenges common to businesses around the world, not least in the area of import and distribution, GWC was able to succeed in 2020 by drawing on its experience with crises – particularly the disruption of the 2017 after the Gulf rift. Facing the pandemic challenge head-on, GWC quickly employed its business continuity plan, which ensured that urgent requirements such as shipping, transporting, storing, distributing, and managing assets including medical equipment, pharmaceuticals and personal protective equipment (PPE), essential food security products and other vital goods were handled in accordance with international standards and regulations.
GWC also ensured a quick response to the extraordinary circumstances in the Industrial Area in the early days of the pandemic.
Supporting the local business community, GWC provided discounts on rentals and offered special customs clearance and transport services for SMEs in the GWC Bu Sulba Warehousing Park working in the health care and food security sectors. The company also offered six-month waivers on rents to the retail outlets and rental discounts offered for nine months to all SME clients at the GWC Bu Sulba Warehousing Park.
Ending the year on a high note, GWC underlined its critical role in the nation’s medical cold supply chain, ensuring the safe delivery of the Covid-19 vaccine from airport to injection site, as the Authorised Service Contractor of UPS in Qatar.
GWC’s investment in infrastructure mirrors that of the government, which has developed new ports, new warehouses and new transport modes to meet growing demand in the country.
GWC will expand beyond its over 3mn square meters of logistic footprint and 250,000 pallet locations to meet increasing demand, where most of the supply is shipped through GWC’s network, leveraging the company’s access to two of the largest worldwide freight, supply chain, and express courier networks in the world. Its fleet of over 1,200 specialised vehicles and 19 strategic locations makes it the number one logistics provider in Qatar.
At the close of the year, GWC inaugurated its regional logistics hub and UPS Customer Center in the Ras Bufontas Free Zone, becoming the first logistics provider to operate out of the first free zone in Qatar.
GWC offers its solutions to companies ranging from entrepreneurs to small, medium, large, and multinational firms, while understanding that SMEs will be a major engine of growth for the country.
“The aims of the nation haven’t changed in the face of the pandemic,” stated GWC group CEO Ranjeev Menon. “With drastic impact of this crisis on world markets, we see more than ever that small and medium enterprises will power Qatar’s economic growth and diversification, and that a strong and healthy logistics sector can be the backbone to support that growth,” he added.
GWC was announced as the first Regional Supporter and Official Logistics Provider for the FIFA World Cup Qatar 2022.
“At GWC, we have always insisted on following industry best practices in quality, health and safety while delivering our services in a timely manner, keeping in mind the environment we operate within,” Menon stated.
Experience in supporting FIFA and the Supreme Committee with the last edition of FIFA Club World Cup provided the company with valuable knowledge.
In 2019, GWC Sports & Events Logistics delivered logistical requirements for all facets of the international tournament, including the seven participating clubs from Brazil, England, Mexico, New Caledonia, Saudi Arabia, Tunisia and Qatar. This included working closely with European giants Liverpool and South American powerhouse Flamengo – the tournament finalists.
With Qatar hosting the next edition of the FIFA Club World Cup in February 2021 and the FIFA Arab Cup towards the end of 2021, GWC said it is sure to use those opportunities to test their Qatar 2022 capabilities and deliver an amazing experience at the tournament.