Sheikh Dr. Khalid bin Thani: The Group overcame local and international challenges and demonstrated resilience to face them
Al Obaidli: We have accomplished numerous strategic objectives for Ezdan Holding Group during 2016
Ezdan Holding Group has revealed its financial statements achieved by the end of Q3, which reflect continuous growth despite the difficulties and challenges in the market due to oil price fluctuations. The Group recorded a net profit exceeding QAR1.29 bn, compared to QAR1.22 bn during the same period last year, an increase of 5.8%.
The financial results showed an increase in the Group’s Earnings per Share (EPS) of QAR0.49 by the end of Q3 2016, compared to QAR0.46 during the same period in 2015. As for its operating income the Group has logged QAR1.593 mn, versus QAR1.346 mn by the end of Q3 in 2015.
On Ezdan’s performance during the previous period, Chairman of Ezdan Holding Group H.E. Dr. Sheikh Khalid bin Thani bin Abdullah Al Thani, said: “a good observer of the Group’s strides during this period would clearly witness the accurate vision that we seek to realize in every step of the way. A vision that steadily paves the way in the realm of business and finance, and becomes a model of institutional strategies development and investments restructuring for a smooth transition from a private to a public shareholding company listed in the stock markets, which propelled the size of the Group’s investments and vision, transforming the group into a holding group with an enormous variety of investments under its umbrella”.
His Excellency added: “Our vision was clear and precise, as each phase of strategies and investments development passes, while Group’s profits evolved attracting the attention of entrepreneurs and observers in the business and finance world, and have remarkably increased within less than five years. As the board of the company, such performance is heartwarming to us and carries great promises for the Group’s shareholders”.
Dr. Khalid explained: “The Group has demonstrated its ability to face challenges and overcame many obstacles at the local and international level. Some of these achievements we have planned was the Sukuk issuance, in addition to our success in coping with oil price fluctuations, which had a negative impact on markets in general. However, and despite that, Ezdan Holding Group strongly carries on in its success track, and will continue this journey by the grace of Allah Almighty.”
Outstanding Achievements in 9 Months
Commenting on the Group’s performance by the end of Q3 2016, Group CEO Mr. Ali Mohammed Al Obaidli said: “This year has witnessed the realization of strategic goals we have set over the past years. We have made a quantum leap in our operations in various projects, and after achieving excellence and leadership in real estate, we have strengthened Ezdan Holding Group’s brand in the tourism and entertainment sector, which is bringing in revenues at an exponential rate”.
Mr. Al Obaidli added that the Group launched the first phase of Ezdan Mall Al Wukair through the opening of the “Grand Hypermarket”. Moreover, the Group is currently gearing up towards opening the entire mall so that it provides a distinct services outlet for the adjacent area. In addition to that, Ezdan is working, in collaboration with a number of international specialists in the field of commercial centers fit-outs, on the opening of Ezdan Mall Al Wakrah in the coming period.
With regard to real estate, Al Obaidli said: “The Group has achieved remarkable growth in this sector through the completion of development plans for the existing projects, reflected in the growth of its customer base despite challenges faced by the real estate sector in Qatar. Moreover, Ezdan has revealed the advancement in its mega real estate project that will further promote Al Wakrah and Al Wukair areas, namely (Ezdan Oasis), with 60% completion, this multi-purpose project will provide more than 9,000 units.”
Developments and International Awards
Talking about development plans inside of the Group, Al Obaidli pointed out that Ezdan is constantly working on selecting outstanding cadres of global standards who have long-standing experience. The Group welcomed a lineup of senior employees who have joined the ranks of its management and operations. In addition, he noted that several training initiatives and courses were launched to develop human resources and hone their skills. The fact that was evidently reflected on the Group's performance, stimulate achievements in its ongoing projects, and made the Group's business flourishing, fast, accurate and professional.
It should be mentioned that Ezdan Holding Group has bagged the “International Achievement Award 2016” by Arabian Business magazine during Q3 2016, in recognition of its success in pricing its inaugural Sukuk issue in a record time achieving 167% oversubscription. This made Ezdan the first Qatari company to close a transaction of this size in such a short time, which shows investors' confidence in its performance indicators.