Istithmar Holding Q.P.S.C. announced its audited financial statements for the fiscal year ending on December 31, 2022, as the financial and operational results of the group confirmed its leading position in the market through its subsidiaries and listed operational projects.
The financial results of Istithmar Holding revealed the following:
- Outperforming financial performance in relation to the main results compared to the previous year.
- A noticeable increase in revenues by 32.2%, which amounted to 4,237.8 million Qatari riyals, at the level of all business units.
- EBITDA amounted to QR 517.7 million, with an annual increase of 18.0%.
- The net profit attributable to the shareholders of the company amounted to 338.2 million Qatari riyals
- Earnings per share amounted to 0.107 Qatari riyals, noting that (the calculation was based on the weighted average number of shares)
The financial results announced by Istithmar Holding today reflect exceptional performance over the past year, which promises more success and expected growth for the company in the coming years.
On this occasion, the Chairman of the Board of Directors of Investment Holding, Mr. Mohamed Moataz Al-Khayyat, stated: "Istithmar Holding Company was launched as a Qatari public shareholding company to contribute to supporting the National Vision 2030 and strengthening the role of the private sector in developing the local economy and expanding internationally, and we are pleased that in 2022 we developed and launched a number of projects
Development in the tourism, hospitality and entertainment sectors was a tributary to Qatar’s hosting of the 2022 World Cup and a key factor for tourism in Qatar. Moreover, the company has also launched projects to support the health sector in the country with international partnerships.
The exceptional financial results achieved by the company for this year, accompanied by the future strategy for regional and international expansion, are only the beginning of the road to more successes that will benefit the shareholders, God willing."
The Board of Directors of the company has recommended to the General Assembly not to distribute profits for the financial results achieved for the year ending on December 31, 2022, provided that the company has achieved net profits that allow it to distribute profits to shareholders, as the Board decided to keep the profits within the company for the year 2023 and employ them in new projects dating back to More future returns for the company and shareholders together.
This recommendation of the Board of Directors would support the company’s growth plan and contribute to a strong financial flow to face the global effects resulting from the rise in interest rates and any fluctuations in the global markets now and in the future.
For his part, Henrik Christiansen, Chief Executive Officer of Istithmar Holding Company, said: “In view of the results we have achieved, we will find that they are proof of the success of the company’s strategy and a reflection of the continued demand for our services, the development of operational processes, and the integration between the companies’ businesses. Revenues increased in 2022 to 4,237.8 million Qatari riyals, an increase of 32.2% compared to last year. It should be noted that the revenues received from projects in the health care and tourism sectors have started in the last quarter of 2022. Most importantly, EBITDA amounted to QR 517.7 million for the year 2022, despite the high costs of raw materials and transportation.”
Istithmar Holding has so far maintained a strong position on the balance sheet and credit metrics, with the interest coverage ratio currently standing at 7.7 times.
The ratio of net debt to net profit (before interest is deducted).
and tax, depreciation, and debt amortization) 3.54 times.
The volume of business contracted with Investment Holding and the stage for the year
The next amount is 2,428 million Qatari riyals on December 31, 2022, in addition
To a package of agreed long-term projects worth 16,870 million riyals
Diagonal as these numbers reflect the contracts that have been concluded
and renewing the validity and effectiveness of the adopted and customer-centric strategy
And provide the best services, products and innovations available before
The company expects high business growth over the coming years which
It positively affects the increasing demand for the services provided by each
A business unit within Investment Holding.
Note: * Earnings per share is the net profit attributable to shareholders
The company, amounting to 338.2 million Qatari riyals, divided by the weighted average
The number of shares belonging to the shareholders.
The most important stations of the company in 2022
Oryx Island
Oryx Island is developed by Istithmar Ventures, an investment arm
Holding Company for Investment and Development in the tourism sector
Exceptional events and luxury venues, including Lusail and Wonderland,
The typical entertainment city that is offered to tourists and visitors coming to Qatar
From all over the world adventures and recreational activities in an atmosphere of pleasure
And entertainment, and 12 restaurants and cafes of the most luxurious and famous brands.
Katara Hills Resort
The company launched Katara Hills Resort, in partnership with Katara, to be another stop
In the world of high-end hospitality and to keep pace with the country’s achievements and efforts
It is diligent to provide what is best for its visitors, as the project takes a special place to give it distinctive and charming views of the urban nature and Katara Beach, according to an exquisite engineering system and attractive interior decoration to form additional elements.
For tourist attractions, the new location provides the opportunity to enjoy a stay
Quiet amidst the wide green areas, in addition to enjoying all
The luxury elements provided by the resort facilities, starting with the spa,
Passing by the famous Indian restaurant «Gymkhana», in addition to the availability of the service team
private to the guests
Maysan Resort
Maysan Resort was launched in Aspire Zone, a new concept of luxury and experience
Distinctive to enjoy all the elements and facilities provided by the resort, starting from
20 suites and 15 villas with swimming pools and private gardens in addition to the resort
Health club, La Casa restaurant, cigar lounge, and a large main swimming pool. and takes
The project, which is 15 minutes away from the city center, is a place of privacy
Green natural designs and attractive interior décor give a special touch to its visitors
“The View” Hospital, in cooperation with Cedars-Sinai Medical Center, USA
“The View” Hospital was inaugurated on December 18, 2022, to be one of the facilities
The leading medical company that seeks to make a qualitative leap in the field of health care
Modern by following a promising medical vision focused on giving visitors an experience
A unique treatment that is very comfortable and flexible by attracting the best cadres
Professionalism in various specialties and the use of the latest medical systems and methods,
As well as strengthening partnerships with world-leading institutions and following non-standard standards
Unprecedented standards that guarantee the hospital excellence and staying at the forefront of this vital sector.
The hospital includes 240 beds, 12 operating rooms and 20 intensive care units
All of them are designed to provide various types of health care, starting with care
Primary, secondary and tertiary health. The operating rooms are also equipped with the latest technology
Medical systems and technologies for performing various surgeries are limited
Intervention, which is currently the latest in the world of surgery. The hospital also has the best surgical robots, including the “Da Vinci robot” and the “Artis Veno robot,” which help to perform surgeries faster and more efficiently.
Accuracy and fewer complications guarantee the patient a faster recovery journey in addition to a garden
The first hospitalization of its kind in the country. The View Hospital is part of
Elegance Healthcare Company " A subsidiary of the “Investment” Holding Group.
in the future
The company has concluded agreements for future projects from
Its strategy is to expand geographically in the Kingdom of Saudi Arabia and the Republic
Algerian People’s Democratic Republic and the Arab Republic of Egypt and the Republic
Maldives The company has also established a number of projects in the care sectors
Health, tourism and prefabricated constructions.
