Al Meera Consumer Goods Company Q.P.S.C. ($MERS)

[Audio Gap] the Al Meera Consumer Goods Company Earnings Conference Call for 4Q and FY 2025. On the call from the management team of Al Meera, we have Abdelrahman Muayyad Khalil Aburub, who's the Finance Director; Fahad Bahzad, Strategy and Transformation Director and the Investor Relations Officer; Quennie Gania Trajano; Manager Budgeting and Reporting; Suddenly Sanchez Babaran, Accounting Manager. So as usual, the management will first go over their performance of the quarter and the full year, and then we have a Q&A session immediately afterwards. Let me turn over the call to Quennie to go over the numbers. Please go ahead.

Thank you, Phibion. Hello, everyone. Welcome to Al Meera's Investor Conference Call for the year ended December 31, 2025. We will be starting off with the overview of Al Meera's results for the year ended December 31, 2025, then we will proceed to question and answers. The following are the financial highlights of the group for the year 2025. Al Meera recorded consolidated sales of QAR 2.9 billion, an increase of 3.6% compared to 2024. Gross profit amounted to QAR 566.8 million, an increase of 13.7% compared to 2024. Gross profit margin was at 19.5%. Rental income is at QAR 79.9 million, an increase of 1.2% compared to QAR 79 million in 2024. Other income is at QAR 28.8 million compared to QAR 43.8 million in 2024. Operating expenditures increased by 7.1% to QAR 385.7 million compared to QAR 360.2 million in 2024. Overall, Al Meera reported a net profit of QAR 141.5 million and earnings per share is QAR 0.69 for the year ended December 31, 2025. I will now open the floor to question and answer.

[Operator Instructions] There are no questions. I will now turn the call back over to Phibion for some closing remarks.

All right. Before I close the call, I just got 2 questions quickly. I noticed that this quarter -- rather this year -- for the year 2025, the dividend, it was cut quite considerably compared to 2024. What was the motivation? And also something that might actually be related to that is given the ongoing geopolitical tensions, how has sort of -- how have your operations responded to this in terms of customers, customer activity footfall and also just the supply chain?

Sure. Thank you, Phibion. I'll take your question. I'll start with your latter question. Al Meera, as an institutional company, has been operating for over 20 years in Qatar. And over the past decade, we have seen multiple different exogenous shocks that has built resilience within the management team. We went through the 2017 blockade where we had some issues with our neighboring countries in terms of supply of product, and we responded adequately by supporting lots of national products and the nationalization of a lot of the different food security for supply chain initiatives. Similarly, in 2020, we had the global pandemic of COVID, where we had both global supply chain issues as well as domestic issues in terms of logistics and transportation of our goods, but we were able to quickly adapt and deal with that appropriately. Similarly, the situation that we are currently facing right now, as you know, this has not started now. It has been started since last year. There were some tensions in the region, and we have taken all the appropriate measures in coordination with the different government authorities. We can deal with all of these shocks appropriately because we have the experience and we have the necessary coordination among our suppliers, among the government entities to make sure that there is no disruption of flow to our end customer. Regarding your question about the dividend, ultimately, the decision of dividends rests upon the Board. As you can see, there's lots of considerations to happen regarding the current situation that we are in. And so it is a prudent step towards ensuring financial resilience and stability for Al Meera's continued operations, especially considering the geopolitical tensions that we are going through right now.

Thank you so much. That sheds some light. Thank you. Angela, still no questions. Can I close the call?

There is one question from Bijoy Joy of QIC.

Bijoy Joy from QIC. My question is on how are you managing your supply chain, given the current situation? And what are the cost pressures for Al Meera in terms of supply chain? And also on your white label products, how do that get impacted?

Sure. So as we mentioned earlier in my previous remarks, our supply chain is very resilient. We have a holistic plan to deal with different risks that we have faced before. We have faced multiple issues historically, and we have built the appropriate measures to deal with these issues. We have very strong coordination with our suppliers. They are developing alternative routes. There is a strong coordination amongst different government entities within their mandates to ensure that the flow of goods does not stop. Obviously, there is some immediate cost pressures, but this is something that is well within our control, and we are able to assess the situation as it evolves.

[Operator Instructions] There are no further questions. I will now turn the call back over again to Phibion for some closing remarks.

Thank you, Angela. This is Phibion again, and I would like to thank the management team from Al Meera for taking the time to update us on the performance and other issues. And I would like to thank all people who joined the call. Please do join us for the Q1 call. This brings us to the end of our call, and have a great day.

Thank you. Thank you, Phibion.

Ladies and gentlemen, that concludes today's call. Thank you all for joining. You may now disconnect.