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(The Group’s Comment) Ezdan
Holding Group Net Profit Drops to QAR 309.92 Million in 2019
Net Profit: This item amounted nearly QAR 309.30 million in 2019
against QAR 433.75 million in 2018, a decline by 29%.
Earnings per share amounted QAR
0.012, versus QAR 0.016 for 2018. The
year’s 4th quarter net losses amounted roughly QAR 200
million compared to net losses of QAR 30 million for the equivalent
quarter in 2018.
Comprehensive Income: The Company registered losses from the evaluation of
its financial assets and hedges against interest rates, by approximately
QAR 23.36 million in 2019, compared to QAR 853.37 million for 2018.
Revenues from Main Operations: This item amounted nearly QAR 1124.17 million for the year compared
to QAR 1067.30 for the previous year 2018, an increase of 5.3% owing to
the reduction of the operating expenses by QAR 61.0 million (cost of
employees item reduced by QAR 98.0 million) as well as the leasing
revenues by QAR 19.0 million.
The company also recorded
reevaluation losses of its investments by QAR 100.0 million for 2019,
although no reevaluation losses were registered for this item in 2018.
Administrative and general expenses
were also reduced by QAR 145 million due to the reduction of ‘cost of
employees’ item. Financing costs however were increased by QAR 63
million to record QAR 898.6 million for the year.
Dividends Distribution and Market
Ratio: The Board of Directors has recommended to retain the year’s profits
and not to distribute dividends for the second consecutive year. The
share is currently traded on a multiplier of 46 time and on a multiple
market value/book value of 0.47 times.