Qatar Fuel Company Q.P.S.C. (QFLS) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw a decrease in fuel sales volumes and revenue, with net income and net profit also declining year-over-year.

• Net profit for Q1 2025 was QR 241.5 million, down from QR 255.2 million in Q1 2024.

• Total comprehensive income for Q1 2025 was QR 209.4 million, up from QR 127.8 million in Q1 2024.

• The company maintains a dominant 85% market share in Qatar's petroleum retail market.

• Cash dividends of QR 596.6 million were paid for 2024 during the quarter.

Financial highlights

• Total revenue for Q1 2025 was QR 6.32 billion, down from QR 6.83 billion in Q1 2024, mainly due to a 3% drop in fuel sales volume and a 6% decrease in average sales.

• Net income for Q1 2025 was QAR 230 million, a 5% decrease from Q1 2024.

• Gross profit increased to QR 192.7 million from QR 185.9 million year-over-year.

• Basic EPS was QR 0.23, compared to QR 0.24 in Q1 2024.

• Cash and bank balances at 31 March 2025 were QR 2.11 billion, down from QR 2.62 billion at year-end 2024.

Outlook and guidance

• Management expects diesel volumes to have bottomed out and anticipates recovery in coming quarters and years.

• Volatility in oil and energy markets is being closely monitored, with potential margin impacts expected if prices decline further.

• No explicit forward-looking guidance provided, but significant cash outflows for dividends and stable operating cash flows suggest a focus on shareholder returns and operational stability.