Q4 2024 Qatar Electricity and Water Company QPSC Earnings Call Transcript
Key Points
- Revenue for the year increased by 3% to QAR2,999 million, driven by higher power output.
- The company is actively expanding with significant projects both domestically and internationally, including the Facility E project in Qatar and power projects in Uzbekistan.
- Nebras Power, a subsidiary, has increased its stake in international projects, enhancing its global footprint.
- The company has a strong equity position with total equity increasing by nearly 3% to QAR15.6 billion.
- Qatar Electricity & Water Co (DSMD:QEWS) has a robust pipeline of projects under construction, expected to contribute to future growth.
- Net profit for the year decreased by 9% compared to the previous year, impacted by one-off items and higher income tax expenses.
- The dividend payout has been reduced for the second consecutive year, causing concern among shareholders.
- Interest and other income decreased significantly due to lower interest income on deposits and the absence of one-off items from the previous year.
- The company's gross profit was affected by higher maintenance costs and reversal of fuel costs in the fourth quarter.
- International operations are currently not covering their cost of capital, raising concerns about their economic viability.
Hello and welcome to the Qatar Electricity and Water conference call. [operator instruction]
Thank you. Now, I would like to hand the call over to Bobby. You may begin.
Thank you, Angela. Hi, hello everyone. This is Bobby Sarkar, head of research at Q&D Financial Services. I wanted to welcome everyone to Qatar Electricity and Water Company's 4th quarter and year-end 2024 results conference call. So, on this call we have Shahzad Iqbal Gill, who's the chief finance and planning officer. At QEWC we have Dan Sabitov who's the corporate planning performance and IR manager, and Gojy Augustine, who's the budget reporting and control manager. So, we will conduct this conference with management first reviewing the company's results followed by a Q&A session. I would now like to turn the call over to Shahzad. Shea, please go ahead.
Thank
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