Qatar Navagation : Board of directors meeting results   

Qatar Navagation announces the results of its Board of Directors’ meeting held on 19/04/2022 and approved

its financial results for the three months ended March 31, 2022.

Key financial highlights:

·         Operating revenues of QAR 913 million for the three months ended March 31, 2022, compared to QR 675 million for the same period in 2021

·         Operating profit of QAR 194 million for the three months ended March 31, 2022, compared to QAR 131 million for the same period in 2021

·         Net profit of QAR 360 million for the three months ended March 31, 2022, compared to QAR 297 million for the same period in 2021

·         Earnings per share increased to QAR 0.32 for the three months ended March 31, 2022 compared to QAR 0.26 for the same period in 2021

Milaha Maritime & Logistics’ net profit increased by QAR 46 million on the back of continued strong container shipping rates and internal optimization measures.

Milaha Gas & Petrochem’s net profit increased by QAR 21 million, mainly a result of higher income from our associate companies.

Milaha Offshore’s net profit increased by QAR 6 million, driven by strong revenue growth and increased performance of key assets.

Milaha Capital’s net profit decreased by QAR 8 million, with lower investment income partially offset by increased real estate profits.

Milaha Trading’s bottom line decreased by QAR 1 million due to margin compression in our marine & lubricant business.

The company will conduct an investor conference call on Thursday, April 21 at 1:30pm Doha time, to further discuss its results.  The conference call may be accessed by telephone by dialing 00 800 100 443 and entering the Conference ID: 8742628.  Further information can be found on our website www.milaha.com.

END

About Milaha

The company was established in July 1957 as the first public shareholding company registered in Qatar and holds commercial registration no. 1. Milaha’s current activities include marine transportation in gas, petroleum products, containers and bulk; offshore support services; port management and operations; logistics services; shipyard; trading agencies; real estate investments; and asset management.

The legal entity, Qatar Navigation Q.P.S.C. (QNNS), is publicly listed on the Qatar Exchange. For further details please visit the company’s website www.milaha.com

For additional information, please contact:

Shareholder Relations

Tel: +974 4494 9873; Fax: +974 44949886

Email:  ysakhawy@milaha.com

Corporate Communications

Tel: +974 4494 9624; Fax: +974 4483 3244

Email:  CorporateComms@milaha.com