Qatar Navigation Q.P.S.C. Income Statement

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

Millions QAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,327	2,840	2,942	3,285	2,784
Revenue Growth (YoY)	17.15%	-3.47%	-10.46%	18.01%	22.78%
Cost of Revenue	1,990	1,727	1,946	2,203	1,939
Gross Profit	1,336	1,113	995.3	1,083	844.56
Selling, General & Admin	4.45	5.21	5.65	3.81	3.18
Other Operating Expenses	165.08	144.46	154.16	176.86	210.25
Operating Expenses	667.14	576.44	558.97	595.76	591.6
Operating Income	669.29	536.39	436.33	486.86	252.96
Interest Expense	-41.89	-32.09	-49.77	-59.21	-72.69
Interest & Investment Income	13.18	11.42	19.27	14.73	15.13
Earnings From Equity Investments	643.46	728.55	647.53	721.26	680.9
Currency Exchange Gain (Loss)	-2.93	-1.24	-0.56	-1.43	6.1
EBT Excluding Unusual Items	1,281	1,243	1,053	1,162	882.41
Impairment of Goodwill	-	-	-	-	-7.29
Gain (Loss) on Sale of Investments	-23.21	-	-	-	-
Gain (Loss) on Sale of Assets	88.12	7.61	10.19	20.82	-4.7
Asset Writedown	-9.63	-117.22	-19.67	-165.73	-140.34
Pretax Income	1,336	1,133	1,043	1,017	730.08
Income Tax Expense	68.21	13.67	13.79	0.83	3.5
Earnings From Continuing Operations	1,268	1,120	1,030	1,016	726.57
Minority Interest in Earnings	2.55	2.2	0.67	-3.72	-2.42
Net Income	1,271	1,122	1,030	1,013	724.15
Net Income to Common	1,271	1,122	1,030	1,013	724.15
Net Income Growth	13.26%	8.91%	1.72%	39.85%	1125.18%
Shares Outstanding (Basic)	1,136	1,136	1,136	1,136	1,136
Shares Outstanding (Diluted)	1,136	1,136	1,136	1,136	1,136
EPS (Basic)	1.12	0.99	0.91	0.89	0.64
EPS (Diluted)	1.12	0.99	0.91	0.89	0.64
EPS Growth	13.26%	8.91%	1.72%	39.85%	1125.18%
Free Cash Flow	692.3	-97.94	450.34	286.54	288.92
Free Cash Flow Per Share	0.61	-0.09	0.40	0.25	0.25
Dividend Per Share	0.450	0.400	0.375	0.350	0.300
Dividend Growth	12.50%	6.67%	7.14%	16.67%	-
Gross Margin	40.17%	39.19%	33.83%	32.95%	30.34%
Operating Margin	20.12%	18.89%	14.83%	14.82%	9.09%
Profit Margin	38.20%	39.51%	35.02%	30.83%	26.01%
Free Cash Flow Margin	20.81%	-3.45%	15.31%	8.72%	10.38%
EBITDA	1,067	894.16	741.51	774.74	527.04
EBITDA Margin	32.08%	31.49%	25.21%	23.58%	18.93%
D&A For EBITDA	397.91	357.77	305.18	287.89	274.08
EBIT	669.29	536.39	436.33	486.86	252.96
EBIT Margin	20.12%	18.89%	14.83%	14.82%	9.09%
Effective Tax Rate	5.10%	1.21%	1.32%	0.08%	0.48%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.