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

Good day, and welcome to the Qatar German Medical Device Company Q2 2022 Result Conference Call. Today conference is being recorded. At this time, I would like to turn the conference over to 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 2022 Financial Results Conference Call. On this call from Qatar German Medical Devices Company, we have Abdullah Dhamesh, the Finance Manager. We will conduct this conference call with Abdullah first reviewing the company's results, followed by Q&A. I will turn the call now over to Abdullah Dhamesh. Go ahead, [Abdullah ].

Thank you. Thank you, Mr. Roy. And welcoming for our investments in Q2 2022 financial results conference call for Qatari Germany for Medical Devices. The mark of achievement and the improvement of performance which started since the beginning of 2021 and up to the current periods continues as the company was able to maintain the pace of the growth, development, and serious start to advance ranks and transitions of that process. The company succeeds in achieving continuous and continuous decrease in accumulated processes from the end of the fiscal year 2020 and until the end of the second quarter of this year 2022, where the interim data shows the decrease in losses by a percentage around 1.2% compared the same period in 2021. And this indicate the visibility of the plans and the goals that the company is going through and the company's continuity in order to maximize the shareholders' rights and achieve the highest amount of returns. In the same context, the company succeed during the second quarter of 2022 to control the cost centers, both direct and indirect, as the hedges against any comps that the regional or global markets may witness in order to reduce as much as possible any negative effects on the production and operations plans. And it's -- and this is clear from the income statement for the second quarter of the current year compared to the same last year. Sales have been increased by almost 11% from the same period in 2021, and a result, a profit of QAR 1.5 million was achieved compared to the profit of QAR 1.3 million for the second -- for the same period in 2021, increased by 12%, which is a good number. And achieving earning per share with a positive value of QAR 0.013 compared with earning share from same period for 2021 with a positive value of QAR 0.012, which mean we have increased around 8% from the last year. So this is only indicate the [ efficicity ] of the steps that have been taken in order to close the company to a good position, stop any waste of energies, and employ all stuff and decisions for the benefit of the shareholders and to the preserve their rights. Thank you.

Yes. Operator, you can go ahead and open the line for questions.

[Operator Instructions] There are no question on the line for now, sir. Please go ahead.

All right. If there are no questions, we'd like to thank Abdullah Dhamesh for the results update and look forward to speaking to you all for the third quarter results. Thank you.

Thank you, Mr. Roy. Same to you. See you. Thank you. Thank you, guys. Bye.

This conclude today's call. Thank you for your participation. You may now disconnect.