Industries Qatar (IQCD) Q2 2026 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2026 ranged from QR 5.1 billion to QR 5.9 billion, down 32% year-over-year, with net profit at QR 216 million, an 89% decline, driven by regional conflict, production cuts, and shipping constraints.

• QatarEnergy increased its effective ownership in Qatar Vinyl Company (QVC) from 25.5% to 44.8% as of May 2026, making QVC a direct holding.

• Maintains strong credit ratings: AA- (S&P) and Aa3 (Moody's), with a stable outlook and no long-term debt.

• Group benefits from efficient assets, skilled workforce, reliable feedstock, and low-cost structure.

• The interim financial information received an unqualified review conclusion from the independent auditor.

Financial highlights

• Net profit for H1 2026 was QR 216 million, down 89% year-over-year; revenue ranged from QR 4.17 billion to QR 5.9 billion.

• EBITDA was QR 1.4 billion with a 24% margin, down from 35% in H1 2025.

• Average selling prices rose 24% year-over-year, but sales volumes fell 46%.

• Cash and bank balances stood at QR 8.6 billion as of 30 June 2026.

• Earnings per share for H1 2026 was QR 0.04, down 89% year-over-year.

Outlook and guidance

• Ongoing regional conflict, logistics disruptions, and shipping constraints are expected to continue impacting production and sales volumes.

• The group remains focused on asset integrity, HSE, and maintaining strong liquidity.

• Forward-looking statements highlight risks from commodity price volatility, market demand shifts, regulatory changes, and geopolitical factors.