(The Group’s Comments) Nakilat Net Profits Up by 7% to QAR 475.6 Million in First Half of 2019

July 11, 2019

Profits: Nakilat’s profits amounted to QAR 475.6 million for the first half of 2019, and increase of 7.1% compared to QAR 444.1 million for the same period of 2018. The company’s earnings per share reached QAR 0.09 versus QAR 0.08 in the corresponding period of last year. As for the second quarter of 2019, profits recorded QAR 239.6 million, a rise of 5.22%, compared to QAR 227.7 million for the same period of 2018.

Comprehensive Income: Nakilat’s comprehensive income statement showed a net loss of QAR 70.5 million, compared to profits of QAR 924.9 million for the same period in 2018. The total loss before the profit amounted to QAR 546.5 million, mostly due to the decline in the fair value of derivatives.

Revenues: Revenues reached QAR 1,816 million, an increase of 0.50%, compared to QAR 1,807 million for the corresponding period of 2018 due to the increase of the share of the company in the profits of joint ventures, which climbed by QAR 273 million.

Shareholders' Equity: decreased by 9.0% due to a drop in the hedging reserve by QAR 540 million. The return on shareholders' equity reached 7.54%, compared to 6.4% for the corresponding period of 2018, while the book value of the share stood at QAR 1.14 and the net debt to shareholders' equity amounted to a multiple of 2.27 times.