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

Hello, and welcome to the Qatari German Medical Devices Conference Call. I would like to advise all participants that this call is being recorded. Thank you. I'd now like to welcome Mr. Phibion Makuwerere to begin the conference. Phibion, over to you.

Thank you, Bhavesh. Good afternoon to you all, and thank you again for joining us for Qatari German Medical Devices 4Q and FY 2023 earnings conference call. My name is Phibion, Senior Research Analyst at QNB Financial Services. On today's call, we have 2 members from QGMD's management team. Mohammad Ali Al Ansari, who is the Board member and Managing Director and Abdullah Dhamesh who is the Investor Relations Officer. And as usual, management will first go over the 4Q and full year performance. And then we have a question-and-answer segment immediately afterwards. I will now turn over the call to Abdullah to begin. Over to you, sir. Please go ahead. Bhavesh?

Their line is open. They may speak.

Abdullah, please go ahead. You can start the call.

The line is still connected to the bridge Perhaps they have muted locally.

Yes. Just check quickly if you are able to check why they might be not audible, yes.

Absolutely. Ladies and gentlemen, we apologize for the pause in today's presentation. Please stand by. Thank you for your patience, ladies and gentlemen. You may resume your conference.

[Foreign Language] On behalf of Qatari German Company for Medical Devices, I would like to extend our sincere thanks for all of you, who were accepting our invitation to attend the financial results conference call for Qatari German Company for Medical Devices for Q4 2023. And the company has been able to achieve a continuous decrease in its direct cost and accumulated assets from the end of the fiscal year 2020, stopping the bleeding of provisions and revaluating assets according to the approved international accounting standards. And we are happy to announce -- and as a result, for this effort, the company achieved a net profit of QR 1,335,981 with a growth of 7.3% from the same period for the last year 2022. And it is a healthy and normal results to our efforts and planning from our management to flip the situation of the company to the growth and achieving profits during this year. So we are happy with the results. And we are welcoming to any questions or any clarification for that. Thank you.

[Operator Instructions] There are no further questions at this time. I will now hand the call back to Mr. Phibion Makuwerere.

Thank you, Bhavesh. Ladies and gentlemen, this is Phibion again. And it seems there are no questions on this call today, so we will wrap it up. I want to thank the management team for presenting the performance for the 4Q and FY 2023 performance to investors. If you do have questions later on, feel free to contact QNBFS or the management team of Qatari German Company for Medical Devices. Have a good afternoon.

Thank you, Bhavesh.

Thank you. This concludes today's conference call. You may now disconnect.