Industries Qatar (IQCD) Q2 2026 earnings summary

Executive summary

• H1 2026 net profit attributable to owners was QAR 215.6 million, down 89% year-over-year.

• Regional conflict and shipping constraints reduced production and sales volumes, despite higher average selling prices.

• Maintained S&P AA- and Moody’s Aa3 credit ratings, both with stable outlooks; no long-term debt as of June 2026.

Financial highlights

• H1 revenue was QR 4,166 million, down 32% year-over-year; reported sales volumes fell 46% while average selling prices rose 24%.

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

• Gross profit fell to QR 583 million from QR 1.58 billion; EPS decreased to QR 0.04 from QR 0.32.

• Cash and cash equivalents were QR 3.0 billion at period end, down from QR 3.7 billion at year-end 2025; net cash was QR 8.6 billion.

• Q2 2026 recorded a net loss, mainly due to lower revenue from reduced sales volumes.

Outlook and guidance

• Regional conflict and shipping constraints are expected to continue affecting production and sales volumes; developments and operational impacts remain under monitoring.

• Capital expenditure focused on investment projects, plant turnarounds, asset reliability, and HSE initiatives.