Milaha reports 3% growth in Q1 2025 net profit, reaching QR374m

01/05/2025 07:54 AST

Qatar Navigation (Milaha) yesterday announced its financial results for the three months ended March 31, 2025.

Milaha reported solid financial results for the first quarter ended March 31, 2025, with operating revenues rising to QR759m, up from QR747m in the same period last year.

The operating profit also showed a slight increase, reaching QR212m compared to QR208m in Q1 2024.

The net profit grew to QR374m from QR365m, while earnings per share edged up to QR 0.33, compared to QR 0.32 for the same quarter in the previous year, reflecting continued operational efficiency and profitability.

Milaha Maritime & Logistics' reported a net profit increase of QR30m compared to the same period in 2024, driven by improved performance from our port operations joint arrangement, as well as our logistics unit.

Milaha Gas & Petrochem's net profit increased by QR1m compared to the same period in 2024,with improved results from our joint ventureand associate companies, offsetting the unfavorable impact of a change in the useful life of our two wholly owned LNG vessels in Q4 2024.

Meanwhile Milaha Offshore's net profit increased by QR8m compared to the same period in 2024, due to revenue growth attributable tothe addition of vessels in mid-2024.

Milaha Capital recorded a net profit decrease of QR29m compared to the same period in 2024, resulting from lower dividend income in our investment unit.

Milaha Trading's bottom line remained flat compared to the same period in 2024.

The company will conduct an investor conference call on ThursdayMay1, 2025, at 14:00 Doha time, to further discuss its results.

The conference call may be accessed by telephone by dialing Qatar Toll Free Number: 00 800 101 734 and entering the Conference ID: 3154131.

The Peninsula