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

Executive summary

• Achieved total revenue of QAR 6.32 billion in Q1 2025, down 7% year-over-year, mainly due to lower fuel sales volume and average sales price.

• Net profit for Q1 2025 was QAR 241.5 million, a decrease from QAR 255.2 million in Q1 2024, primarily due to reduced fuel segment margins and lower dividends.

• Maintained a strong market share of 85% in Qatar's petroleum retail market.

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

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

Financial highlights

• Fuel sales volume declined by 3% year-over-year; diesel sales dropped 7%, gasoline remained flat.

• Jet fuel sales volume decreased by 3% year-over-year and 9% quarter-on-quarter; jet fuel prices fell 12% year-over-year.

• Non-fuel retail sales fell 12% year-over-year.

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

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

Outlook and guidance

• Management expects fuel volumes to bottom out and recover in coming quarters and years.

• Ongoing market volatility in oil prices may impact margins, especially due to inventory price movements.

• Significant cash outflows for dividends and stable operating cash flows suggest a focus on shareholder returns and operational stability.