Doha, April 30: Estithmar Holding Q.P.S.C. announced its financial results for the first quarter of 2026, reporting a net profit of QAR 333 million, reflecting a robust 97% year-on-year increase. The strong performance underscores the company’s sustained growth momentum, driven by international expansion, operational efficiency, and strategic investments.
The company recorded revenues of QAR 1.455 billion, up from QAR 1.309 billion in Q1 2025. Gross profit rose by 35% year-on-year to QAR 561 million, while EBITDA increased by 73% to QAR 473 million. Earnings per share also witnessed a significant rise of 90% to QAR 0.089.
The growth was supported by a well-balanced strategy combining geographic expansion, portfolio diversification, and disciplined cost management. International investments initiated in previous periods have begun contributing meaningfully to revenue growth, profitability, and asset expansion.
Operational excellence and prudent capital management played a key role in driving profitability. Additionally, the company’s focus on digital transformation—particularly in automation and artificial intelligence enhanced productivity, strengthened governance, and optimized costs.
Performance across all business segments remained strong. The healthcare, services, tourism and real estate development, and industries & specialized contracting groups all contributed positively, reflecting effective execution within an integrated strategic framework.
Commenting on the results, Juan Leon, CEO of Estithmar Holding, said,
“The Q1 results reflect the strength of our business model and our ability to deliver accelerated and sustainable growth simultaneously. This performance demonstrates disciplined execution and the quality of our investment decisions across markets and sectors.”
He added, “International expansion has become a key growth driver, enabling diversification and risk mitigation. At the same time, our continued investments in digital transformation and advanced technologies are enhancing operational efficiency and supporting long-term sustainable performance.”
During the quarter, Estithmar Holding launched Estithmar Capital, its fifth business platform, focused on financial investment management, governance enhancement, and robust compliance and risk frameworks, reinforcing its commitment to sustainable growth.
The healthcare segment continued to expand, with international operations in Iraq and Libya emerging as major revenue contributors under its Apex Health arm. The services segment strengthened its leadership in Qatar while expanding regionally across Saudi Arabia, Iraq, and Jordan.
In tourism and real estate development, the company maintained steady progress with key projects such as Rixos Baghdad Hotel & Residences and Rosewood Maldives Resort, alongside strong performance from Al Maha Island and Lusail Winter Wonderland.
The industries & specialized contracting segment delivered exceptional profitability growth of 376% year-on-year, driven by operational efficiency, cost optimization, and expansion into new markets including Syria, Algeria, the Maldives, and Rwanda.
Additionally, Estithmar Holding appointed PricewaterhouseCoopers (PwC) as its external auditor effective early 2026, following approval by the Board of Directors and the General Assembly.
