Industries Qatar, a Qatari shareholding company, achieved a net profit of QR 8.1 billion for the financial year ended December 31, 2021, representing an increase of 321 percent compared to last year.
“2021 was an exceptional year where the Group has strongly risen from last year’s challenges,” Minister of State for Energy Affairs and Chairman of the Board of Directors of Industries Qatar Eng. Saad bin Sherida Al Kaabi said. “During this year, we captured the benefits of a solid commodity price environment, underpinned by renewed product demand.”
Al Kaabi continued: “Some headwinds amid supply chain bottlenecks persisted throughout the year, but QatarEnergys marketing and logistics efforts resulted in a strong support to our entities, while ensuring volumes remained unaffected without any operational disruption.”
Industries Qatar said in a statement that the Group revenue significantly improved by 77 percent to reach a record QR 20.2 billion as compared to QR 11.4 billion for the year ended December 31, 2020. Earnings per share (EPS) amounted to QR 1.34 for the year, versus QR 0.32 for last year.
The Board of Directors proposed a total annual dividend distribution of QR 1 per share.
Industries Qatar, a Qatari shareholding company, was founded in April 19, 2003.