(The Group’s Comment) Qatari German Medical Devices Net Losses Increases to QAR 8.46 million in the 3^rd Quarter 2019

Ø  Period’s Losses: The Company’s losses for the first nine months of 2019 amounted nearly QAR 8.47 million compared to losses of QAR 5.50 for the equivalent period last year 2018. Losses per share amount QAR 0.0073 compared to losses per share of QAR 0.048 for the equivalent period last year.

Ø  The 3^rd quarter losses amounted QAR 2.85 million compared to losses of QAR 1.10 million for the same quarter last year.

Ø  Revenues: The revenues declined by 24.5% an amount of QAR 2.03 million caused by the decline in the company’s sales of medical syringes, commercial products and catheter sales. The cost of sales to sales ratio stood at 65%. Total profit amounted QAR 2.20 million compared to QAR 1.98 million for the same period 2018 caused by the reduction in the cost of sales for the period by QAR 2.25 million.

Ø  Expenses: Notwithstanding the decrease in sales, the company’s expenses also increased by 12% to amount QAR 5.43 million versus QAR 4.84 million deepening the losses.

Ø  Cumulated Losses: The balance of the cumulated losses reached QAR 125.28 million constituting 108.5% of the share capital. Share’s book value amounted QAR 0.28 while the liabilities to shareholders’ equity ratio reached 378%.