Doha, Qatar: Mannai Corporation convened its Ordinary General Assembly Meeting virtually via the Zoom platform yesterday, at 9:30 p.m. Doha time.

The meeting was chaired by Sheikh Suhaim bin Abdulla bin Khalifa Al Thani, Chairman of the Company, who reviewed and highlighted Mannai Corporation’s financial performance for the year 2025.

The Shareholders approved the distribution of a cash dividend of QR0.30 per share, representing 30% of the nominal share value.

Sheikh Suhaim bin Abdulla bin Khalifa Al Thani said in a statement, in 2025, Mannai commemorated its 75th year in business following its origins as an Auto Parts shop in Musherib, Doha opened in 1950 and Auto Sales and services continues to be a core part of Mannai’s business to this day.

“I am pleased to report that in 2025 total revenue for Mannai Corporation grew by QR1bn, a 25 percent increase compared to 2024. The accounts are reported on a like for like basis for consistency, without consolidation of the discontinued operations of Damas International Ltd., which is mentioned later.

This robust growth was underpinned by a 20 percent uplift in revenue from Information & Communication Technology division (ICT) and a 52 percent increase in New Vehicle sales in Auto Division.

In summary, the Group turnover of QR5.1bn comprised a record QR1.1bn from Auto Division, QR3.3bn revenue from ICT, also a record performance, and a QR0.7bn contribution from the Group’s other diversified businesses in Qatar,” he noted.

In line with the sales performance Gross Profit rose by 26 percent to QR864m. EBITDA rose by 21 percent to QR540m.

Good cash generation helped to reduce the level of bank borrowing reflected in a 16 percent decrease in interest costs.

Net Profit before Pillar-2 Tax rose to QR289m, an increase of QR114m, or 66 percent versus 2024.

Earnings Per Share rose to QR0.58, on the Group Net Profit of QR267m post tax, a 56 percent increase over last year and the Board is recommending a dividend distribution of 30 percent of the nominal value of the share, equating to QR0.30 per share, compared to QR0.25 last year.

In a later event, the proposed sale of 67 percent of Mannai’s shareholding in Damas international, the GCC retail jewellery business, which was initially announced to the Stock Exchange in July 2025 finally concluded in 2026 once all the required regulatory approvals had been received. Accordingly, it is reported as a subsequent event in the 2025 Financial Year.

“Qatar is our home market and we remain committed to participating in the opportunities across Qatar’s dynamic economy and, on behalf of the Board of Directors, I extend our deep appreciation for the visionary leadership of H H Sheikh Tamim Bin Hamad Al Thani, the Amir of Qatar, and for the strong and stable economic environment fostered by the Government of Qatar.

I also extend my gratitude to all our employees across the Group for their dedication and contribution to Mannai’s achievements in 2025,” he added.

Looking ahead, following the company’s excellent performance in 2025, we fully expect Auto Division’s vehicle sales to continue on its growth trajectory based on our range of petrol powered, hybrid models, and electric vehicles from our renowned brands including Cadillac, General Motors, BYD and Subaru.

In addition, our ICT Division’s order book has risen to a remarkable level of QR5bn, which will continue to fuel its growth over coming years. We also expect ICT to further broaden its revenue streams from opportunities in neighbouring markets going forward, including the Kingdom of Saudi Arabia, Sheikh Suhaim bin Abdulla bin Khalifa Al Thani said.

© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).