Milaha net profit rises 40% to QR 1.0 billion for full year 2022

• Operang revenues of QR 3.285 billion for the twelve months ended December 31, 2022, compared to QR 2.784 billion for the same periodin2021

• OperangprofitbeforeimpairmentsofQR487millionforthetwelvemonthsendedDecember31,2022,comparedtoQR253million forthesameperiodin2021

• NetprofitofQR1.013billionforthetwelvemonthsendedDecember31,2022,comparedtoQR724millionforthesameperiodin2021

• EarningspershareofQR0.89forthetwelvemonthsendedDecember31,2022,comparedtoQR0.64forthesameperiodin2021.

DOHA : Milaha Maritime & Logistics’ net profit increased by QR 85 million compared to the same period in 2021,mainlyduetostrongcontainershippingrates.

Milaha Gas & Petrochem’s net profit increased by QR 70 million compared to the same period in 2021, mainly due to an increase in results from our associate companies, and gainonthesaleofdeep-seavessels.

Milaha Offshore’s bottom line increased by QR 196 million compared to the same period in 2021, driven by an increase in projects and vessel utilization, coupled with a reductioninvesselimpairmentexpense.

Milaha Capital’s net profit decreased by QR 69 million compared to the same period in 2021, due to an impairment recordedinthethirdquarterof2022.

Milaha Trading’s bottom line increased by QR 7 million comparedtothesameperiodin2021,comingfromincreased heavyequipmentandmarine-relatedproductsales.

Commentingonthecompany’sfinancialandoperational performance for the year ended December 31st, 2022, H.E. Sheikh Jassim bin Hamad bin Jassim bin Jaber AlThani, Milaha’s Chairman of the Board of Directors, said: “2022 marks the 65th anniversary of Milaha, and our strong financial results are a testament to our resilience, commitment to customers, and to operational excellence. All our core business segments posted strong growth, which was enabled by favorable market conditions and our strategic focus on strengthening our operational foundation. I am confident that this same foundation will helppositionusstronglyforthefuture.”

Milaha’s Group Interim President & CEO, Eng.MohammedAbdullaSwidan added“2022wasagreat year for Milaha. We were awarded significant new business, which enabled us to expand our operations. And we did so while maintaining the health and safety of our colleagues, onshore and offshore. I am thankful to my colleagues who made this happen through their hard work and dedication. I am confident we can continue to deliver strong sustainable results in the years to come due to our strong balance sheet androbustoperationalplatform.”

The Board of Directors decided to recommend to the General Assembly to distribute a 35% cash dividend of the par value of a share, equivalent to QAR 0.35 per share, representing a payout ratio of 39% of 2022 net profit.