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Qatar Tribune
6 days ago
- Business
- Qatar Tribune
QIB net profit up 5.3% to QR2.18 billion in H1
Tribune News Network Doha Qatar Islamic Bank (QIB), the country's leading Shari'a-compliant financial institution, has reported a net profit of QR2,175 million for the six-month period ending 30 June 2025, marking a 5.3 percent increase compared to QR2,065 million recorded during the same period last year. The bank's earnings per share rose to QR0.92 in H1 2025 from QR0.87 in H1 2024, reflecting sustained profitability growth. In a move reinforcing its shareholder-friendly policies, QIB's board of directors has approved an interim cash dividend of QR0.40 per share, equivalent to 40 percent of the nominal share value. This payout, which is subject to regulatory approval from Qatar Central Bank, will be distributed to shareholders registered as of market close on July 24, 2025. QIB's total assets surged to QR212.1 billion as of 30 June 2025, registering a 5.6 percent growth from December 2024 and a 10.3 percent increase year-on-year. The bank attributed this robust asset growth primarily to increased financing and investing activities. Financing assets climbed to QR130.8 billion, reflecting a 4.4 percent increase from December 2024 and a 3.1 percent rise compared to June 2024. Investment securities reached QR60.1 billion, up 13.4 percent from December 2024 and 21.9 percent higher year-on-year, as QIB continued to diversify and strengthen its investment portfolio. Customer deposits increased to QR135 billion, registering an 8 percent rise since December 2024 and a 10 percent increase compared to June 2024. The finance-to-deposit ratio stood at 96.8 percent, one of the lowest among Qatari banks, underlining QIB's strong and stable liquidityprofile. QIB's total income for H1 2025 reached QR5,642.8 million, up slightly from QR5,609.3 million in the same period last year. Net income from financing and investing activities alone amounted to QR5,127.8 million, underscoring the bank's core revenue-generating strength. Operational efficiency remains a cornerstone of QIB's strategy. The bank's total operating expenses stood at QR537.7 million for the first half of 2025. Cost containment efforts brought the cost-to-income ratio down to 16.4 percent—once again the lowest in Qatar's bankingsector. On the asset quality front, QIB maintained its ratio of non-performing financing assets to total financing assets at 1.75 percent, showcasing strong credit risk management and prudent underwriting standards. Coverage for non-performing assets stood at 95.1 percent as of 30 June 2025, supported by a conservative provisioning strategy. QIB's shareholders' equity increased to QR28.1 billion, marking a 3.4 percent rise from December 2024 and a 9.2 percent increase year-on-year. The capital adequacy ratio (CAR), calculated according to the new Qatar Central Bank guidelines, stood at a robust 22 percent—well above the regulatory minimum and Basel III requirements. QIB's financial strength and stability were reaffirmed by major global credit rating agencies. In June 2025, Fitch Ratings affirmed QIB's long-term issuer default rating at 'A' with a stable outlook. Moody's maintained its 'A1' rating with a stable outlook, while Capital Intelligence Ratings (CI) affirmed a long-term rating of 'AA-' with a stable outlook in March 2025. As QIB continues to deliver on its strategic goals, the bank remains committed to sustainable growth, digital innovation, and value creation for its customers and stakeholders, further reinforcing its leading position in Qatar's Islamic banking sector.
Borneo Post
01-07-2025
- General
- Borneo Post
UMS Labuan students raise RM3,820 to help stray animals
The UMSKAL students and Veterinary Services Department staff at the presentation of mock cheque. LABUAN (July 1): The community support animal welfare initiative 'Paws of Hope – Spay, Neuter and Feed' has successfully raised RM3,820 through a crowdfunding campaign on the MyStar app in just one month. The project was organized by students from Universiti Malaysia Sabah, Labuan International Campus (UMSKAL) under the supervision of their Corporate Finance lecturer, Dr Suzillah Binti Sidek. Coordinated by Gayatheri, the project's director, this student-led initiative aims to help stray animals by providing vital care, food and vaccinations. The campaign's official closing ceremony took place on June 12 at the Labuan Veterinary Services Department. From the total funds raised, RM2,065 was allocated to the Veterinary Services Department to cover the cost of spaying, neutering and vaccinating 18 cats. The remaining funds was used to purchase food for stray cats and dogs to support a food bank initiative for animals in need across Labuan. The project also received strong support from the local community including Lawrence Yap, owner of Pet Home Daycare: MaYa, who assisted with animal transport. Yap shared that the initiative deeply touched him, inspired by the memory of his beloved pet, Maya, who had passed away. This loss led him to dedicate his life to helping stray animals as a meaningful expression of love. The closing ceremony also included a symbolic handover of a mock cheque to the Veterinary Services Department and tokens of appreciation for all contributors and partners who had supported the project. Gayatheri expressed her heartfelt appreciation and honor in the collaborative efforts of students, government agencies, NGOs and the local community. 'This project is not just an academic but it is a small initiative that has created a big impact on the lives of stray animals in Labuan. Thank you to everyone who has played a role in making it a success,' she said. The 'Paws of Hope' project is part of the Service Learning Malaysia – University for Society (SULAM) program at UMSKAL, which emphasizes community-based learning while instilling humanitarian values in students.
Express Tribune
03-06-2025
- Business
- Express Tribune
Two witnesses record testimonies in gifts case
The Toshakhana is a repository which stores precious gifts given to rulers, parliamentarians, bureaucrats and other officials by heads of other governments and foreign dignitaries. PHOTO: FILE Two more prosecution witnesses on Tuesday gave their testimonies in a case related to alleged misuse of the official gift repository rules by PTI founder Imran Khan and his spouse Bushra Bibi during the former's term as the prime minister. Special Judge Central Shahrukh Arjumand conducted the hearing of the case in a courtroom inside Rawalpindi's Central Prison popularly known as Adiala Jail. Both Imran and Bushrawho are detained in the prison facility — attended the hearing. After the testimonies, the counsel for Imran, Arshad Tabriz, cross-examined both the witnesses. Lawyer of Bushra Bibi, Qosain Faisal Mufti, will cross examine the witnesses at the next hearing. Bushra Bibi had refused to attend the last hearing of the case — also called the Toshakhana II casedespite repeated summonses by the court. The judge had later warned of cancelling her bail in the case. The court will resume hearing on June 11. According to the charge-sheet, Imran misused his position to acquire a Bulgari jewelry set that the Saudi crown prince presented as a gift during the couple's visit to Saudi Arabia between May 7 and 10, 2021. The set included a ring, bracelet, necklace, and a pair of earrings. According to the evidence gathered during the investigation, Imran and Bushra unlawfully retained the set. On May 18, 2021, the deputy military secretary informed the section officer of Toshakhana about the need to assess and declare the price of the gift, but it was not deposited. Bulgari sold the necklace for 300,000 euros and the earrings for 80,000 euros to a Saudi franchise on May 25, 2018. However, the price of the bracelet and ring could not be determined. As of May 28, 2021, the total estimated value of the Bulgari jewelry set was approximately Rs75,661,600. The necklace alone was valued at Rs56,496,000, and the earrings at Rs15,065,600.
Yahoo
11-03-2025
- Automotive
- Yahoo
D'Ieteren Group (SIETY) (Q4 2024) Earnings Call Highlights: Strong Profit Growth and Strategic ...
Adjusted Profit Before Tax (PBT) Group Share: Increased by 9.6% or 12.7% at constant currency, reaching EUR1,065 million. Free Cash Flow Group Share: Increased by 22.2%, surpassing EUR740 million. Belron Operating Margin: Increased by 70 basis points, reaching 21.2%. D'Ieteren Automotive Adjusted PBT Group Share: Increased by 13.4%, with a return on sales margin of 5.1%. PHE Adjusted PBT Group Share: Grew by 8.1%, exceeding EUR165 million. TVH Adjusted PBT Group Share: Increased by 30.5%, nearing EUR100 million. Moleskine Adjusted PBT Group Share: Negative EUR3 million. Revenue Growth: Group sales increased by 3.5%, exceeding EUR12 billion. Belron Sales Growth: 6.8% increase, with 5.8% organic growth. D'Ieteren Automotive Market Share: Declined slightly to 24% in the Belgian market. Free Cash Flow - D'Ieteren Auto: Record EUR362 million, a 160% increase year-on-year. TVH Operating Margin: Increased by 206 basis points, reaching 15.6%. Net Debt - D'Ieteren Auto: Reduced to EUR12 million from EUR250 million at the end of 2023. Dividend Proposal: EUR1.6 ordinary dividend proposed. Warning! GuruFocus has detected 3 Warning Signs with SIETY. Release Date: March 10, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. D'Ieteren Group (SIETY) reported a strong increase in adjusted profit before tax group share, up 9.6% or 12.7% at constant currency. Free cash flow group share increased by 22.2%, reaching over EUR740 million. D'Ieteren Automotive achieved a record return on sales margin of 5.1%, despite a 6% decline in the Belgian new car market. TVH experienced a significant rebound with a 30.5% increase in PBT, aided by cost containment and recovery from a previous cyber-attack. The company proposed a dividend of EUR1.6, reflecting confidence in its financial stability and future prospects. Moleskine reported a negative adjusted PBT group share of minus EUR3 million due to a cautious discretionary spending environment. Belron faced increased financial charges, impacting its PBT group share, with a EUR60 million rise in net finance costs. D'Ieteren Auto's market share slightly declined to 24% in the Belgian market. The company anticipates a lower headline number for adjusted PBT group share in 2025 due to full-year effects of new financial charges. TVH expects a slightly declining adjusted operating result margin in 2025 due to a dilutive sales mix and absence of cyber-related insurance income. Q: Can you clarify the guidance for 2025, particularly regarding the comparable financing perimeter and financial charges? A: Edouard Janssen, CFO: In 2024, our PBT group share was EUR1.1 billion, excluding the EUR24.8 million net impact from additional financing. For 2025, we expect a slight increase, considering EUR140 million in financial charges at Belron and EUR40 million at the corporate level. Q: Regarding Belron's 23% EBIT margin target, can you provide more details on how you plan to achieve this? A: Francis Deprez, CEO: The target remains unchanged. We expect contributions from topline growth, transformation program benefits, recalibration, value-added products, and cost containment. These factors, along with modest volume increases and normal pricing effects, will help us reach the target. Q: What is the outlook for TVH's growth in a soft market environment? A: Francis Deprez, CEO: We anticipate mid single-digit topline growth, reflecting market share gains despite a mixed market environment. Some markets will show stronger growth, while others may have lower growth. Q: Can you explain the mid single-digit organic sales growth outlook for Belron, considering recent challenges? A: Francis Deprez, CEO: We expect normal developments at Belron, with some effects from last year continuing. The budget assumes a gradual normalization of insurance dynamics, but visibility on timing is limited. We are pursuing growth in all market segments, including cash markets. Q: How does the current tariff situation affect D'Ieteren Group's operations? A: Francis Deprez, CEO: Most of our activities are not significantly affected by tariffs. For TVH and Belron, we have flexible sourcing strategies to mitigate impacts. If tariffs lead to inflation, we will apply pricing strategies similar to previous inflationary periods. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
11-03-2025
- Business
- Yahoo
La Francaise Des Jeux SA (LFDJF) (FY 2024) Earnings Call Highlights: Strong Revenue Growth ...
Revenue: EUR3,065 million, increase of 17%. Recurring EBITDA: EUR792 million, up 21%, margin of 25.8%. Adjusted Net Income: EUR490 million, up 13%. Dividend Proposal: EUR2.05 per share, increase of 15%. Net Financial Debt: EUR1.818 billion, leverage ratio of 1.9 times recurring EBITDA. Cash Conversion: Current EBITDA to cash conversion at 85%. Pro Forma Revenue: EUR3.788 billion, with recurring EBITDA of EUR964 million, margin of 25.5%. Bond Issuance: EUR1.5 billion eurobond issued to finance Kindred acquisition. Cost of Sales: EUR1 billion, primarily retailer remuneration. Marketing Costs: EUR223 million, increase due to Kindred acquisition and Olympic partnership. Personnel Expenses: EUR443 million, increase due to Kindred, ZEturf, and PLI integration. Net Depreciation and Amortization: EUR224 million, increase due to acquisition-related amortization. Free Cash Flow: EUR675 million, up 15%. Net Profit: EUR399 million, adjusted net profit EUR490 million. International Presence: Operations in 13 locally regulated European markets. Retail Network: 34,000 retailers, including 29,000 in France. Online Revenue: 35% of total activities. Warning! GuruFocus has detected 4 Warning Signs with LFDJF. Release Date: March 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. La Francaise Des Jeux SA (LFDJF) successfully acquired Kindred, forming FDJ United, which has diversified the group's geographical and activity scope. The company reported a 17% increase in turnover, reaching EUR3,065 million, with a recurring EBITDA up 21% to EUR792 million. The integration of Kindred is well underway, with identified synergies and cost optimizations expected to generate over EUR50 million. The company maintained a strong cash conversion rate of 85% and a leverage ratio of 1.9 times recurring EBITDA, indicating financial stability. La Francaise Des Jeux SA (LFDJF) continues to invest in responsible gaming and sustainability, dedicating over 10% of its advertising budget to responsible gaming initiatives. The company faces increased taxation in France and the Netherlands, impacting revenue and EBITDA by approximately EUR60 million. Regulatory tightening in the Netherlands and the UK is expected to negatively affect revenue by EUR30 million to EUR40 million. Despite the acquisition of Kindred, the company projects a stable turnover for 2025, indicating limited growth potential in the short term. The integration of Kindred and the rollout of the KSP platform will take time, with full benefits not expected until 2027. The company's adjusted net profit decreased by 6% due to the cost of debt and amortization related to the Kindred acquisition. Q: What analytic tools are you using to manage competitive pricing and risk in sports and online betting? A: Pascal Chaffard, Executive Vice President - Finance, Performance and Strategy, explained that they use tools implemented in the Kambi platform for online betting and gaming, as well as in-house tools for Unibet in France. They are transitioning to a unified sports betting platform, KSP, by the end of 2026, which will enhance pricing management and product differentiation. Q: Can you elaborate on the timing and impact of the mitigation measures for tax and regulation changes? A: Pascal Chaffard stated that EUR20 million in savings is expected in 2025, with a gradual ramp-up to EUR100 million by 2027. The measures include cost optimizations and synergies, particularly from the integration of Kindred and the rollout of the KSP platform. Q: What is the expected financial impact of the new tax regulations in France and the Netherlands? A: The tax changes are expected to have a EUR60 million impact, with EUR45 million from France and over EUR10 million from the Netherlands. Additional regulatory impacts in the Netherlands and the UK could add EUR30-40 million to this. Q: How will the omnichannel account offering be regulated, and how does it align with the wallet separation project? A: Stephane Pallez confirmed that the omnichannel account is consistent with regulatory requirements and the separation of exclusive rights and competition market customers. The program has been approved by regulators and will be tested in a French region this year. Q: Why is the 2025 revenue growth guidance below the long-term target of 4-5%? A: Pascal Chaffard explained that the lower growth is due to tax impacts and regulatory changes. The French Lottery and Retail Sports Betting BU will see low single-digit growth, while the Online Betting and Gaming BU will experience a slight revenue decrease due to these factors. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
