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Milaha (QNNS) investor relations material
Milaha Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong financial and operational performance in 2025, with net profit of QAR 1.27 billion and operating revenue of QAR 3.33 billion, up 13.3% and 17.1% year-over-year, respectively.
Continued execution of strategy across Energy, Trade, and Defence platforms, supported by fleet expansion, digital transformation, and strategic partnerships.
Proposed a cash dividend of QAR 0.45 per share, totaling QAR 511 million, representing a 40% payout ratio.
Financial highlights
Net profit rose to QAR 1.27 billion from QAR 1.12 billion in 2024.
Operating revenue increased to QAR 3.33 billion from QAR 2.84 billion in 2024.
EBITDA reached QAR 1.3 billion, up from QAR 1.24 billion in 2024.
Earnings per share improved to QAR 1.12 from QAR 0.99 year-over-year.
Total CAPEX for 2025 was QAR 529 million.
Outlook and guidance
Continued investment in offshore vessels and expansion into regional and adjacent markets planned for 2026.
Focus on strengthening execution efficiency, completing awarded projects, and expanding operational capabilities.
Defence platform expected to grow in importance as national requirements increase.
- Net profit was QR 628.3 million on lower revenue, with mixed segment results and vessel investments.QNNS
Q2 20242 Feb 2026 - Net profit up 5% to QAR 917m, EPS at QAR 0.81, and a major one-time asset gain recorded.QNNS
Q3 202418 Jan 2026 - Net profit up 9% to QR 1,122m, with higher EPS, strong segment results, and a 40% dividend proposed.QNNS
Q4 20249 Jan 2026 - Q1 2025 net profit rose 3% to QR 374m, led by Maritime & Logistics and Offshore.QNNS
Q1 202526 Dec 2025 - Double-digit revenue and profit growth in H1 2025, led by Maritime & Logistics and Offshore.QNNS
Q2 20253 Nov 2025 - Revenue and net profit grew strongly, led by Gas and Petrochem, with higher dividends paid.QNNS
Q3 20252 Nov 2025
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