Qatar · Delayed Price · Currency is QAR Qatar Fuel Company Q.P.S.C. ("WOQOD") Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw a 21% revenue and 29% net income decline, mainly from lower fuel volumes and prices. Jet fuel sales were hardest hit but showed recovery in April, while station expansion remains on track.
Fiscal Year 2025
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Revenue fell 8% to QAR 26 billion in 2025 due to lower prices, while net income dipped 1% to QAR 1.04 billion. Retail fuel sales volume rose 3%, and 10 new stations are planned for 2026, with CapEx set to increase.
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Revenue declined 10% year-over-year to QAR 19.2 billion, with net income down 2.6% to QAR 752 million. Diesel and jet fuel volumes fell slightly, but retail fuel and B2B segments show signs of improvement for future quarters.
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Revenue fell 11% year-over-year to QAR 12.5 billion in H1 2025, with net income down 4.5% to QAR 460 million due to lower fuel sales and prices. Retail fuel volumes rose 2%, while non-fuel sales declined 9%. Management expects stronger demand in H2.
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Q1 2025 saw a 7% drop in revenue and a 5% decline in net income, driven by lower fuel sales volumes and market demand. Management expects diesel volumes to recover, while monitoring oil price volatility for margin impacts.
Fiscal Year 2024
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Revenue for 2024 remained flat at QAR 28 billion as higher fuel volumes offset lower prices, while net income rose 7% to QAR 1.052 billion. Jet fuel volumes grew 10% year-over-year, and a QAR 1 per share dividend was recommended, with continued focus on growth opportunities.
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Revenue grew 4% year-over-year to QAR 21.3 billion, with net income up 6% in Q3 2024, driven by higher fuel and jet fuel sales volumes. Non-fuel sales declined, while B2B and bitumen segments showed signs of recovery.
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Revenue grew 10% year-over-year to QAR 7.1 billion in Q2 2024, with net income up 10% to QAR 239 million. Jet fuel sales volume surged 16%, while B2B and non-fuel segments faced margin pressure. Interim dividend of QAR 0.4 per share declared.