Qatar Electricity & Water Company Q.P.S.C. (QSE:QEWS)

QSE:QEWS Income Statement

Financials in millions QAR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	2,954	2,918	2,836	2,646	2,381	2,476
Revenue Growth (YoY)	1.26%	2.88%	7.20%	11.12%	-3.84%	9.28%
Operations & Maintenance	3.49	3.49	2.65	3.54	1.2	1.34
Selling, General & Admin	96.77	74.88	84.9	49.61	36	41.87
Depreciation & Amortization	13.98	13.98	12.45	13.9	5.9	5.37
Amortization of Goodwill & Intangibles	7.78	7.78	7.83	7.74	7.65	7.81
Other Operating Expenses	2,131	2,050	1,883	1,701	1,541	1,894
Total Operating Expenses	2,253	2,150	1,990	1,776	1,592	1,951
Operating Income	700.76	767.55	845.9	869.91	789.39	525.59
Interest Expense	-382.11	-437.34	-500.47	-275.56	-114.77	-149.26
Interest Income	371.64	444.64	500.81	413.34	247.33	257.51
Net Interest Expense	-10.48	7.3	0.34	137.78	132.56	108.25
Income (Loss) on Equity Investments	631.59	680.16	672.28	669.42	570.12	550.94
Other Non-Operating Income (Expenses)	-9.29	-7.83	-7.83	-13.31	-1.98	-2.17
EBT Excluding Unusual Items	1,286	1,447	1,511	1,664	1,490	1,183
Gain (Loss) on Sale of Investments	-	-	-	50.95	-	-
Gain (Loss) on Sale of Assets	-	-	77.65	-86.08	-	0.09
Asset Writedown	-6.18	-6.18	-26.87	-83.09	-	-
Other Unusual Items	-	-	-	204	-	-
Pretax Income	1,280	1,441	1,561	1,750	1,490	1,183
Income Tax Expense	10.97	3.88	-6.04	2.34	-	-
Earnings From Continuing Ops.	1,269	1,437	1,568	1,747	1,490	1,183
Earnings From Discontinued Ops.	-0.33	-0.63	-7.16	3.22	-	-
Net Income to Company	1,268	1,436	1,560	1,750	1,490	1,183
Minority Interest in Earnings	-13.88	-20.45	-8.92	-39.64	-22.23	-25.01
Net Income	1,255	1,416	1,551	1,711	1,468	1,158
Net Income to Common	1,255	1,416	1,551	1,711	1,468	1,158
Net Income Growth	-23.10%	-8.73%	-9.32%	16.55%	26.79%	-18.12%
Shares Outstanding (Basic)	1,100	1,100	1,100	1,100	1,100	1,100
Shares Outstanding (Diluted)	1,100	1,100	1,100	1,100	1,100	1,100
EPS (Basic)	1.14	1.29	1.41	1.56	1.33	1.05
EPS (Diluted)	1.14	1.29	1.41	1.56	1.33	1.05
EPS Growth	-23.10%	-8.73%	-9.32%	16.55%	26.79%	-18.12%
Free Cash Flow	855.59	885.47	1,044	1,215	1,194	1,163
Free Cash Flow Per Share	0.78	0.81	0.95	1.10	1.08	1.06
Dividend Per Share	0.774	0.780	0.860	0.950	0.800	0.630
Dividend Growth	-30.27%	-9.30%	-9.47%	18.75%	26.98%	-18.71%
Profit Margin	42.47%	48.53%	54.70%	64.66%	61.65%	46.76%
Free Cash Flow Margin	28.97%	30.35%	36.82%	45.93%	50.13%	46.96%
EBITDA	1,028	1,111	1,191	1,165	1,073	814.87
EBITDA Margin	34.79%	38.07%	41.99%	44.03%	45.05%	32.91%
D&A For EBITDA	326.85	343.26	345.11	294.9	283.29	289.28
EBIT	700.76	767.55	845.9	869.91	789.39	525.59
EBIT Margin	23.72%	26.30%	29.82%	32.88%	33.15%	21.23%
Effective Tax Rate	0.86%	0.27%	-	0.13%	-	-
Revenue as Reported	3,022	2,999	2,911	2,721	2,475	2,586

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.