Estithmar Holding surges with 50% increase in net profit

In Qatar, Estithmar Holding Q.P.S.C. announced notable financial results for the first quarter of 2025, showcasing an impressive growth trajectory. The company reported a net profit of QAR 170 million, which marks a significant 50% increase compared to the same quarter in the previous year. This surge was accompanied by a remarkable 64% increase in total revenue, reaching QAR 1.3 billion, up from QAR 797 million in Q1 2024, highlighting the company's successful expansion strategy across multiple sectors. The financial results reflect the effectiveness of Estithmar Holding’s investment strategies, focusing on diversified sectors such as Healthcare, Services, Tourism & Real Estate Development, and Contracting & Industries. The Healthcare cluster, in particular, saw considerable growth due to contributions from hospitals established outside of Qatar. Noteworthy projects include Imam Al-Hassan Al-Mujtaba Hospital in Karbala, and others in Iraq and Libya that have opened new revenue streams for the group. Furthermore, the Services cluster maintained a dominant position within Qatar, especially excelling in Facilities Management and Catering. Their expansion into the Kingdom of Saudi Arabia, Jordan, and Iraq has significantly bolstered profitability and created fresh income opportunities. Efficiency improvements within existing projects like Lusail Winter Wonderland and Al Maha Island also contributed to better profit margins. The Contracting & Industries cluster proved instrumental in driving revenue and profit growth, capitalizing on key project delivery phases within the Kingdom of Saudi Arabia, including high-profile ventures such as the Red Sea Airport and the Yacht Club. As Estithmar Holding continues to secure new projects with Saudi Public Investment Fund companies, it is enhancing local operational efficiency which also contributes to the overall profitability in Qatar. This solid performance underscores the company's commitment to sustained growth while simultaneously working on shareholder value in both the short and long term.