QAMCO posts net profit of QR 95 million for the financial year ended 31 December 2020

Board of Directors recommends a cash dividend of QR 0.035 per share, equating to a payout ratio of 206% of 2020 net earnings

  
  • QAMCO’s share of JV’s revenue for the year ended 31 December 2020 amounted to QR 2.2 billion 
  • QAMCO’s share of the JV’s EBITDA remained robust at QR 652 million, achieving an EBTIDA margin of ~30% 
  • Earnings per share of QR 0.017 for the year ended 31 December 2020 
  • Q4-20 profitability of QR 82 million, significantly recovered versus Q3-20 and posted the best quarterly profit till date since QAMCO’s incorporation, amid product prices recovery 
  • QAMCO JV’s dynamic shift of product mix to adjust market volatilities supported resilient sales volumes and improved margins for the financial year 2020 
  • Swift response to operational cost and CAPEX optimization led to a continued low-cost operating base, while cash conservation remained robust 
  • Robust cash position with QAMCO’s closing cash balance[1] (including share of cash in QAMCO’s JV) stood at QAR 740 million 

Doha, Qatar: Qatar Aluminium Manufacturing Company Q.P.S.C., a 50% joint venture partner in one of the world’s most efficient, low-cost smelters that produces premium high quality aluminium products, today reported a net profit of QR 95 million for the year ended 31 December 2020, with an earnings per share (EPS) of QR 0.017.

Read the full report here.

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