Latest Threads

The text is a review of the interim condensed consolidated financial statements for the Emirates Telecommunications Group Company PJSC. The report covers the financial performance of the company over a three-month period ending on 31 March 2024.

The text presents the condensed consolidated interim financial information for Ooredoo Q.P.S.C, a company based in Doha, Qatar. The financial data covers the three-month period ending on 31 March 2024.

Ooredoo Q.P.S.C. reported a 4% increase in revenues in Q1 2024, reaching QAR 5.9 billion. The company's EBITDA also rose by 6% to QAR 2.5 billion, with an EBITDA margin expansion to 43%, up by one percentage point. The normalized net profit grew by 26% to QAR 1.0 billion. Ooredoo spent QAR 382 million on CAPEX and reported an 11% growth in normalized free cash flow to QAR 2.2 billion. The company's customer base increased by 3% to 159.3 million. The company is on track to meet its FY 24 guidance.

The consolidated financial statements for Ooredoo Q.P.S.C for the three months ending 31st March 2024 indicate a decrease in total non-current assets, total current assets, total assets, total current liabilities, total non-current liabilities, total liabilities, and total shareholders equity compared to December 2023. However, there was an increase in total revenue, net operating profit, but a decrease in profit attributable to shareholders and earnings per share compared to 2023.

Fertiglobe's shareholders have approved a H2 2023 cash dividend of $200 million, bringing the total 2023 dividend payout to $475 million. The firm's strong financial performance in 2023 was supported by a 5% increase in sales volumes and $25 million in savings. In December 2023, ADNOC announced plans to acquire OCI Global's majority stake in Fertiglobe, which would increase ADNOC's total ownership to 86.2%. This acquisition, subject to approvals expected in 2024, would support Fertiglobe's growth plans and focus on clean ammonia. Since its IPO, Fertiglobe has returned $2,265 million to shareholders.

GFH Financial Group B.S.C. has announced the purchase of 38,662,943 of its own shares (treasury shares) as of 30th April 2024. This acquisition increases the total holding of treasury shares from 214,854,035 (5.61% of total issued shares) to 253,516,978 (6.61% of total issued shares). The decision to purchase was made in a board meeting in September 2021, with approval from the Authority in April 2024. The average purchase price was 0.297 USD per share, representing 1.009% of the issued capital. There are still 129,742,405 shares remaining for purchase.

Apex Investment PSC has announced a 62.5% year-on-year increase in its net profit for Q1 2024, excluding fair value changes and corporate tax. The company underwent a holistic transformation in 2023 to establish core foundations and accelerate growth. Now, Apex operates across three core verticals: Services, Structures, and Investments. The Q1 2024 results showed a 32% increase in revenue compared to the same period last year, with a gross profit margin of 21.4%. Net operating profit also significantly increased, and despite exposure to uncontrollable factors, the company reported a positive net profit before tax of AED 5.4M, compared to a loss of AED 190.1M in Q1 2023. The company plans to continue focusing on growth organically and through acquisitions across all three verticals until the end of 2024.