Ezdan Holding Group’s annual profits exceed QAR1.81 billion
Ezdan Holding Group has disclosed its annual financial results, revealing profits that exceeded QAR1.81 billion by the end of the fiscal year 2016, compared to QAR1.66 billion in 2015, an increase of 9%. While the Group’s Earnings per Share (EPS) achieved strong growth over the past year yielding QAR0.68, compared to QAR0.63 during 2015.
Chaired by H.E. Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani, the Board of Directors convened to discuss and assess the Group’s annual performance for the year 2016. The board recommended distributing cash dividends of QAR0.50 pershare, at 5% of the nominal value of the Group’s share.
Global trust and a success that transcends regional challenges
Commenting on the Group’s 2016 financial performance, Chairman of Ezdan Holding Group, H.E. Sheikh Dr. Khalid bin Thani bin Abdullah Al-Thani, said: “Our success is the result of our commitment to a realistic vision, defined goals and solid strategy, which allows the achievement of objectives as planned, while making use of all capabilities available. These are the standards that govern our decisions at Ezdan Holding Group. We believe that a successful investment is the one capable to respond to the market’s needs, and a successful management is the one that possesses sufficient flexibility to overcome the challenges faced by economy.”
H.E. added: “We have proven during 2016 that Ezdan Holding Group is capable to achieve greater success, which manifested in the volume of demand for its inaugural Sukuk estimated at $500 million, achieving 167% oversubscription; in addition to other successful funding sources that are proven compatible with our values.”
Dr. Khaled Al-Thani noted that during 2016, Ezdan Holding Group ventured in new and promising investment areas, for which it has laid an integrated plan, initiated by the announcement of a new brand specializing in tourism, entertainment and retail.
Group Chairman stressed that despite the great challenges caused by the global economic slowdown and its impact on the local market, the Group was even keen to pursuit its objectives, and fulfill its promises. The Group went on to soft launch a number of projects that will open during the current year and operate at full capacity, which will have a positive impact on the Group's 2017 results.
Achievements & Aspirations
In this context, Ezdan Holding Group CEO, Mr. Ali Mohammed Al Obaidli, said, “The Group’s investment performance has seen a quantum leap in the past year in terms of investments’ size, scope and diversity. Such projects included the launch of “Ezdan World” company that operates in the world of leisure and tourism, as well as the first phase of Ezdan Mall Al Wakrah, by announcing the opening of the first Carrefour branch in it, and the first phase of Ezdan Mall Al Wukair, in addition to the soft opening of “The Curve Hotel” located in the strategic area of West Bay."
Commenting on the expectations for the current year, Mr. Al Obaidli said, “We plan to achieve our multiple projects in diverse sectors, the process will be in phases but at a steady pace. We are preparing for the launch of “Ezdan Oasis”, which is a huge real estate project that consists of more than 9,000 multipurpose units of different sizes. Such project would generate more income through boosting the Group’s leasing to unprecedented levels. In addition, we’re preparing to open “Ezdan Palace Hotel”, and complete the launch of “The Curve Hotel”, “Ezdan Mall Al Wakrah” and “Ezdan Mall Al Wukair”, in parallel with strengthening “Ezdan World “brand that manages the “Magical Festival Village”, a project for which we made great efforts to include in the Gulf tourism map, to become a top leisure destination in the region”.
International Awards & Achievements in a Year
The Group operating earnings recorded QAR2.5 billion compared to QAR1.9 billion in 2015, thanks to the leasing cash flows and operation of real estate assets, as well as the partial opening of other projects in the mall, hotel and entertainment sectors.
In 2016, the Group’s journey was culminated with a number of awards from several international agencies, most notably honoring H.E Sheikh Dr. Khalid bin Thani Al Thani, Chairman of Ezdan Holding Group by H.E. Sheikh Abdullah Bin Nasser Bin Khalifa Al-Thani, Prime Minister and Minister of Interior for the variety of distinctive cooperation with the Qatar General Electricity & Water Corporation “KAHRAMAA”. In addition to the “International Achievement Award 2016” by Arabian Business magazine in recognition of the Group’s recent achievements at the international level.
Ezdan Holding Group CEO Mr. Ali Mohammed Al Obaidli has received the 2016 best-performing “Top CEO” Award conferred by “Trends” magazine in recognition of his achievements, as Chief Executive Officer of Ezdan Holding Group, which resonated on the Group's performance and results over the past few years.
Moreover, Ezdan Holding Group and its subsidiaries, Ezdan Real Estate and Ezdan Mall, received (ISO 9001: 2008) quality certification, which is internationally recognized in different areas, including information technology, quality management as well as the best services and professional practices framework provided to customers.