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On May 14, 2024, the Board of Directors of Watania International Holding (PJSC) met and approved the financial statements for the first quarter, which ended on March 31, 2024. In addition to this, they also discussed routine business matters. The meeting was authorized by Board Secretary, Nawal Ma’ally.

The form adheres to the disclosure requirements of SCA Board of Directors’ Decision No. (32/R.M.) of 2019, which applies to companies with shares listed on the market and accumulated losses amounting to 20% or more of their paid-up capital. The company, Ithmaar Holding B.S.C., reported accumulated losses of USD 831.22 million as of Q1 2024, amounting to 110% of its paid-up capital. The losses began in December 2016, primarily due to impairment provisions from non-core investments following a financial crisis. The losses increased to 98% in 2018 due to the early adoption of FAS30, and further increased in 2020 due to the economic impact of Covid-19. The losses fluctuated in the subsequent years due to net income and net losses attributable to shareholders. The board is currently working on various initiatives to address the losses, including an asset sale and/or restructuring plan.

Ithmaar Holding B.S.C. has announced that its Board of Directors approved the financial results for the period ending 31 March 2024 in a meeting held on 14 May 2024. The announcement was made to the Bahrain Bourse and Dubai Financial Market.

The text refers to the condensed consolidated interim financial information of Ithmaar Holding B.S.C. as of 31 March 2024.

Tabreed, the UAE's leading international district cooling company, has released its Q1 2024 financial results, showing a 9% year-on-year increase in consumption volumes for its cooling services. The company reported a net profit before tax of AED 122 million, a 4% increase from the same period in 2023. Tabreed's EBITDA margin was 58%, compared to 57% in Q1 2023, with group revenue of AED 468m for Q1 2024. The company also achieved a cash conversion rate of 90% and a net debt to EBITDA ratio of 3.97x at the end of Q1 2024. The company has repurchased a total of USD 240 million (AED 880 million) of its outstanding sukuk due in 2025, as part of its active management of its debt profile.

On 14 May 2024, a board meeting was held by the National Central Cooling Company (Tabreed). The meeting, in accordance with Disclosure and Transparency Regulations number 3 of 2000, approved the Un-Audited Interim Accounts of the company for the period ending 31 March 2024. The board also approved the release of these accounts and a press release to the Securities and Commodities Authority and the Dubai Financial Market.

The text refers to the unaudited interim condensed consolidated financial statements of United Foods Company (PSC) and its subsidiaries as of 31 March 2024.

The document contains the unaudited interim condensed consolidated financial statements of United Foods Company (PSC) and its subsidiaries as of 31st March 2024.

In Q1 2024, SALAMA, the UAE's largest Takaful solutions provider, reported a net profit of AED 17.58 million, marking a 118% increase from Q1 2023. The company's Takaful revenue expanded to AED 271.47 million, up from AED 265.23 million in Q1 2023. Net assets were reported at AED 3,600.39 million, while total equity decreased by 3.46% to AED 634.46 million, primarily due to currency value depreciation in Egypt. SALAMA also announced the launch of its new Abu Dhabi headquarters, indicating further market penetration within the UAE.