Aamal Q P S C : First Quarter Financial Results 2023

Aamal Company Q.P.S.C.

Unaudited condensed consolidated

interim financial statements

for the three-month period ended

31 March 2023

Aamal Company Q.P.S.C.
Condensed consolidated interim statement of financial position
As at 31 March 2023			In Qatari Riyals
		31 March		31 December
		2023	2022
		(Unaudited)		(Audited)
Assets
Non-current assets
Property, plant and equipment	258,505,539	261,352,993
Investment properties	7,196,013,383	7,193,500,605
Right-of-use assets	36,725,059	38,923,945
Equity-accounted investees	365,859,924	352,103,333
Retention receivables		4,046,420		6,862,649
Total non-current assets	7,861,150,325	7,852,743,525
Current assets
Inventories	227,117,566	267,261,804
Investments at fair value through profit or loss	9,443,555	9,443,555
Trade and other receivables	670,404,133	620,642,295
Amounts due from related parties	62,566,433	56,228,565
Cash and cash equivalents		165,203,808		243,544,209
Total current assets	1,134,735,495	1,197,120,428
Total assets	8,995,885,820	9,049,863,953
Equity and liabilities
Equity
Share capital	6,300,000,000	6,300,000,000
Legal reserve	706,257,279	706,257,279
Retained earnings		647,524,869		875,030,360
Equity attributable to owners of the Company	7,653,782,148	7,881,287,639
Non-controlling interests		44,100,827		44,332,005
Total equity	7,697,882,975	7,925,619,644
Liabilities
Non-current liabilities
Borrowings	232,481,033	255,546,162
Lease liabilities	30,266,737	32,365,432
Employees' end of service benefits		26,283,764		26,688,096
Total non-current liabilities		289,031,534		314,599,690
Current liabilities
Borrowings	92,260,513	107,836,134
Lease liabilities	12,305,651	12,293,679
Trade and other payables	504,236,711	515,628,733
Amounts due to related parties		400,168,436		173,886,073
Total current liabilities	1,008,971,311		809,644,619
Total liabilities	1,298,002,845	1,124,244,309
Total equity and liabilities	8,995,885,820	9,049,863,953

Sheikh Mohamed Bin Faisal Al Thani	Rashid Bin Ali Al Mansoori
Vice Chairman and Managing Director	Chief Executive Officer

Aamal Company Q.P.S.C.

Condensed consolidated interim statement of profit or loss and other comprehensive income

For the three months ended 31 March 2023			In Qatari Riyals
		For the three months
		ended 31 March
		2023	2022
		(Unaudited)		(Unaudited)
Revenue	511,422,901	453,493,423
Cost of sales	(391,214,782)		(348,586,122)
Gross profit	120,208,119	104,907,301
Other income	3,570,706	1,260,236
Marketing and promotion expenses	(1,678,835)	(2,714,924)
General and administrative expenses	(41,307,739)	(31,347,768)
Net impairment losses on financial assets	(144,935)		(178,138)
Operating profit for the period	80,647,316		71,926,707
Finance income	234,636	1,372,159
Finance costs	(7,375,212)		(6,684,486)
Finance costs - net	(7,140,576)		(5,312,327)
Share of profit of equity-accounted investees	13,756,591		8,124,367
Profit for the period	87,263,331	74,738,747
Other comprehensive income	-		-
Total comprehensive income for the period	87,263,331	74,738,747
Profit for the period attributable to:
Owners of the Company	87,494,509	73,618,493
Non-controlling interests	(231,178)		1,120,254
		87,263,331	74,738,747
Total comprehensive income for the period attributable to:
Owners of the Company	87,494,509	73,618,493
Non-controlling interests	(231,178)		1,120,254
		87,263,331	74,738,747
Basic and diluted earnings per share
(attributable to owners of the Company)
(expressed in QR per share)		0.014		0.012