Muscat Gases Company SAOG (MGMC) Earnings Call Transcripts

Muscat Gases Company SAOG's Latest Earnings Call - April 2, 2026

In the earnings call for the fiscal year ending December 2025, Muscat Gases Company SAOG (MGMC:OM) reported total revenue of OMR 24.715 million, with a net profit after tax of OMR 1.497 million, reflecting a significant recovery from previous losses. The company highlighted ongoing challenges in the LPG market due to increased competition but expressed optimism about future profitability starting in 2026, driven by expansion into energy solutions. Management maintained that while the gas business remains under pressure, new engineering projects are expected to contribute positively in the coming quarters.

Reported metrics

Guidance from management

Management expects to achieve profitability starting in 2026, driven by new energy projects and operational adjustments. They indicated that Q1 2026 results are anticipated to be positive but did not provide specific financial guidance.

What management said

Welcome to everybody. This is the MSX discussion session 01-2026 regarding the audited financial statement. So we'll introduce myself, Abdulsathar and my colleague, [indiscernible], we are from the accounts. And our acting CEO, Mohsin, he will address the meeting now. Mr. Mohsin, can you please start the meeting?

Welcome, everyone, in this meeting. My name is Mohsin Al Salmi. So today, we are going to show our results for 2025. And if you have any questions related for the business, for the company, we will be most welcome to answer all your questions or doubts. Can you please show the screen. Abdulsathar?

What analysts pressed on

Analysts expressed concerns regarding the sustainability of profitability in the LPG market, given the increased competition and ongoing operational losses. There were questions about the timeline for seeing positive results from new energy projects.

Main topics on the call

• Revenue Recovery — Muscat Gases reported total revenue of OMR 24.715 million for 2025, a recovery from previous years' losses. Management noted, "the last 3 to 4 years, we start to have a loss view for the new lessons which is already give...
• Future Profitability Outlook — Management expressed optimism about achieving profitability in 2026, stating, "we expect that 2026 onwards, inshallah, we will have a profit." This is attributed to ongoing projects in energy solutions.
• Impact of Restatement — The restatement of OMR 2.163 million related to inventory issues positively impacted 2025 results. Abdulsathar Ahmed clarified that this was "only an accounting entry" and will not affect future cash flows.
• Increased Competition in LPG Market — The company faces heightened competition, with the number of market players increasing from 13 to 24, which has pressured margins. Mohsin Al Salmi noted, "the main issue in the market" is protecting customer base amidst ...

Read the full Muscat Gases Company SAOG transcript (April 2, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 6 Muscat Gases Company SAOG earnings call transcripts on record, spanning December 9, 2024 to September 7, 2026. Based on this history, Muscat Gases Company SAOG reports semi-annually. The most recent call on file is dated September 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MGMC

Exchange

MSM

Country

OM

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

6

First call

December 9, 2024

Most recent

September 7, 2026

Reporting cadence

semi-annually