Qatari German Company for Medical Devices (Q.P.S.C.) (QGMD) Earnings Call Transcript & Summary

Good day, and welcome to the Qatar German Medical Devices Second Quarter 2021 Results Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Roy Thomas. Please go ahead, sir.

Hello, everyone. This is Roy Thomas from QNB Financial Services. I want to welcome everyone to Qatar German Medical Devices Company's Second Quarter 2021 Financial Results Conference Call. On this call, we have Ali Hassan Al-Emadi, Chairman of the Board; Mohammad Ali Al-Ansari, Board Member and Managing Director; Abdullah Dhamesh, Finance Manager; and Mai Al-Baroudi, the Board Secretary and IR Officer. We will conduct this conference call with management first reviewing the company's results, followed by Q&A. I will turn the call now over to Mai Al-Baroudi. Go ahead, Mai.

Good morning, everyone. Good afternoon. Actually, it's my pleasure to welcome all the participants in Q2 2021 QGMD Earning Call. And we are optimistic against the results that we achieved regarding the business updates that we have achieved during this quarter. And I would like to turn the call to my colleague, Mr. Abdullah Dhamesh for extra explanation about our financials.

[Foreign Language] Good afternoon for all. We are in Qatari German for Medical Devices. We are lucky this quarter. And we are also lucky with having a new Board in the top of it's -- Mr. Ali Al-Emadi and our Managing Director, Mr. Mohammed Al-Ansari. And we have an add value from our Board due to the manufacturing and business background of all of our boards and committees. And they have into this business since decades, and we are seeing this in our results and there some already there. And we are now announcing that QGMD from the establishing has a record now during this quarter or this review of the half year to reach this numbers and this percentage, which has never have been success or achievement before. I'm talking now in the mid of the year, we have achieved QAR 20 million sales, which is -- never has been achieved in this Qatari German before. And it already allocated to the new Board and new management, which is already rise up the limits and rise up the rules for this company to go ahead. We can see that our revenue has been increased from 2020 end June from QAR 11 million to QAR 20 million, around 84% growth in the revenue. And we have success to make a gross profit around QAR 4.767 million, which equivalent to 23% for the GP taking in consideration that all we have a challenge during this 3 or 6 months due to the COVID-19 limitation of traveling, limitation of bringing the raw materials in easy and cost-wise allocation. So we had taken the challenge and [Foreign Language] we success to deliver. And we meet the deadlines for our customers in spite of all this challenge has been already faced from our Board -- our management. And we try also our best, okay, for -- to decrease our cost, especially the general and administration expenses. It increased around 20%, okay, but comparing with a turnover of QAR 20 million. We are talking about QAR 20 million for our general expenses. And also, we have an EBITDA for this year around QAR 6.6 million, which indicates our profit operation during this period, which we are very happy with this one, and we are looking more and more to challenge our own cost center for this one. And by the end, we success to have a profit of QAR 1.351 million compared with our losses in the same period for 2020 of QAR 1.146 million, increasing around 218% from the last period. So I think we are in the correct path, and we are correct planning, and we are looking forward to increase and enhance our planning cost-wise, delivery-wise, price-wise and market-wise.

Operator, I think you can open the line for calls -- questions, please.

[Operator Instructions] And it appears we have no questions from the audience. So I'd like to turn the conference back for any additional remarks.

All right. If there are no further questions at -- hello? Yes. If there are no further questions, we would like to thank Qatari German Medical Devices Company's Board and management for the results update and we look forward to speaking to you all for the next quarter results.

Ladies and gentlemen, this concludes the -- apologies, go ahead, sir.

Thanks.

Ladies and gentlemen, this concludes today's conference call. Thank you for your participation. You may now disconnect.