Woqod achieves $61.26mln at the end of Q1 of 2023

Woqod achieves $61.26mln at the end of Q1 of 2023

Doha – Qatar Gas Firm (Woqod) posted a web revenue of QR223 million for the first three months of the yr on Wednesday.

This can be a decline of QR40 million, or 15 p.c from the revenue registered in the similar interval in 2022.

The earnings per share for the interval amounted to QR0.22 in comparison with QR‎0.26 ‎for the similar interval of final yr 2022.

The lower in web revenue and earnings per share in comparison with the similar interval in 2022 was pushed by the decrease gross sales volumes of Diesel and related incomes in addition to discount in gas costs. Improved earnings from different segments contributed to offset some of the impacts from decrease diesel gross sales volumes.

With respect to gas stations, Managing Director and Chief Government Officer Saad Rashid Al Muhannadi indicated that the first quarter of 2023 witnessed the building and operation of two stations.

Muhannadi ‎ ‎additionally defined that in the first quarter of 2023, the firm managed to put in 10 electrical charging factors in 7 petrol stations in coordination with Kahramaa noting that the set up actions of 6 different charging factors in three stations as per the authorized plan.

He additional defined that Woqod has a dynamic plan in the building of the new petrol stations that’s ‎being reviewed periodically in accordance with the situations of gas demand and the want for gas stations.

On the different hand, Al Muhannadi defined that Woqod has been categorized by Model Finance amongst the prime 10 most precious manufacturers in the oil and fuel sector in the Center East.

In conclusion, Al-Muhannadi assured that in the coming interval, the firm intends to work on a set of new initiatives to develop its non-petroleum actions to be able to improve the income from this sector, declaring that Woqod Group will exert ‎all efforts to take care of and ‎improve the service ranges, proceed to focuson the effectivity enchancment and operational ‎excellence, and take all different viable measures in furtherance of the Group profitability and the ‎achievement of its imaginative and prescient, ‎mission and strategic targets as a pioneer downstream oil and fuel ‎firm, and to construct ‎a contemporary,sturdy and state-of-the-art petroleum merchandise distribution ‎sector inside the nation, to be able to ‎hold tempo with the normal coverage of the State of Qatar in ‎the modernization of infrastructure amenities, and to ‎present the finest providers in accordance with the ‎finest QHSSE requirements, and obtain the finest outcomes for its valued ‎shareholders.‎

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