(The Group’s Comments) The Net Loss of Qatari German Medical Devices Co. Rises to QR 2.99 Million in the First Quarter of 2019

May 01, 2019

Losses: The first quarter results of Qatari German Medical Devices Co. showed a net loss of QR3.0 million, 34.5% deeper a loss compared to last year’s first quarter loss of QR 2.23 million. The company also posted a loss per share of QR 0.26 versus a loss of QR 0.19.

Revenues: increased by QR 800,000 to QR 2.8 million in the first quarter of 2019, compared to QR 2.0 million for the same quarter in 2018, but revenue costs increased by QR 900,000 resulting in a drop in the total profit to QR 176,000 versus QR 275,300 for the first quarter of 2018. It should be noted that the cost of revenues to revenues ratio stood at about 93%.

Operating Losses: amounted to QR 1.85 million in the first quarter of 2019, a 39% increase compared to QR 1.33 million posted in the first quarter of 2018. Despite the QR 354,000 drop in administrative and general expenses, the combination of the depreciation expenses climbing by QR 698,000 and the drop in the total profit as mentioned above resulted in piled up losses.

Accumulated Losses: amounted to QR 119.8 million, representing 103.75% of the share capital. Accordingly, the book value of the share stood at QR 3.30. The increase in losses and their absorption of shareholders' equity, caused the ratio of liabilities to shareholders' equity to reach 320%.