30/10/2026 06:39 AST
Estithmar Holding Q.P.S.C. announces its financial results for the nine months ended 30 September 2026, reporting a 15.4% year-on-year increase in earnings before interest, taxes, depreciation and amortization (EBITDA) to QAR 1.248 billion and a 5.9% increase in net profit to QAR 744 million. EBITDA margin expanded to 28% from 22%, while net profit margin reached 16% from 14%. Revenue declined 7.6% to QAR 4.526 billion.
Financial performance
EBITDA increased from QAR 1.082 billion in the corresponding period of 2025 to QAR 1.248 billion, while net profit rose from QAR 703 million to QAR 744 million.
Earnings per share reached QAR 0.165, compared with QAR 0.162 for the corresponding period of 2025, restated for bonus shares. Revenue was QAR 4.526 billion, compared with QAR 4.900 billion a year earlier.
Tourism Investments & Real Estate Development recorded 94% revenue growth to QAR 294 million, with net profit rising from QAR 21 million to QAR 71 million, supported by progress at Rixos Baghdad.
Balance sheet and investment
The Group strengthened its financial position during the period. Shareholders' equity increased 16.3% to QAR 5.557 billion from QAR 4.776 billion at the end of 2025, while total liabilities decreased 2.5% to QAR 9.531 billion from QAR 9.777 billion. Cash and bank balances increased to QAR 414 million from QAR 338 million.
Alongside its financial performance, Estithmar Holding Q.P.S.C deployed QAR 1.374 billion through investing activities during the nine-month period. This included QAR 647 million at Rosewood Maldives, QAR 294 million at Rixos Baghdad, QAR 190 million at the Algerian Qatari German Hospital (HAQA), QAR 83 million across other projects and QAR 160 million in Shahba Bank. These investments support the Group's growth pipeline across hospitality, real estate, healthcare and financial services.
Basel Shaddad, Chief Executive Officer of Estithmar Holding Q.P.S.C., stated:
"Our Q3 performance demonstrates the resilience of Estithmar Holding's diversified business model and our continued focus on profitable growth. The expansion of our EBITDA margin to 28%, alongside higher EBITDA and net profit, reflects stronger earnings performance as we continue to invest in the Group's long-term growth.
Looking ahead, our priorities remain clear: strengthening portfolio performance, advancing strategic investments and pursuing disciplined growth opportunities across our operating segments and international markets. We remain focused on converting our growing investment pipeline into sustainable, long-term value for our shareholders."
Strategic investments advance across key markets
Estithmar Holding Q.P.S.C continues to advance its international growth strategy through selective investments and disciplined capital allocation. Rosewood Maldives, an exclusive private-island resort under development, is designed to offer a highly personalized luxury hospitality experience. Rixos Baghdad Hotel & Residences will introduce an integrated destination in Iraq comprising 497 hotel and residential units. In healthcare, the Group is developing the Algerian Qatari German Hospital (HAQA), scheduled to open in 2027 with more than 300 beds.
Operating momentum
Within Specialized Contracting & Industries, Elegancia continues to expand its project delivery capabilities through major contract awards. These include the MEEZA Data Center in Qatar, a turnkey contract valued at more than QAR 500 million, and the mechanical works package for Prince Mohammed Bin Salman Stadium at Qiddiya in Saudi Arabia, valued at SAR 829 million, awarded to Elegancia Arabia for execution by Elegancia MEP.
Estithmar Holding Q.P.S.C remains focused on strengthening portfolio performance, pursuing selective opportunities and creating sustainable long-term value for shareholders.
Gulf Times
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