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

Hello, everyone. Welcome to the Qatari German Medical Devices Conference Call. Please note that this call is being recorded. I'd now like to hand over to Roy Thomas. Please go ahead.

Thanks, Ellie. Hello, everyone. This is Roy Thomas from QNB Financial Services. I want to welcome everyone to Qatari German Medical Devices Company's Second Quarter and First Half 2020 Financial Results Conference Call. On this call from Qatari German Medical Devices company, we have Amer Abu Shaikha, the Chief Executive Officer. We will conduct this conference call with Amer Abu Shaikha first reviewing the company's results followed by Q&A. I will turn the call now over to Amer. Go ahead.

Hi, everybody. This is Amer speaking. I'm the CEO of Qatari German Medical (sic) [ Company ] for Medical Devices. Today, I'm going to give an update for the first half of financial and then I will be ready to answer any questions from the shareholders. We closed our financials with a revenue of QAR 7.5 million, cost of sales QAR 2.7 million. This gave us a gross profit of QAR 4.7 million, with increase of our gross profit from the last half year by 50%. We have other income amount of QAR 1.4 million, and we have an expenses of sales and distribution, G&A expenses and depreciation. This will -- this giving us a result of EBITDA like QAR 1.3 million comparing with last year QAR 3.8 million. Actually, our EBITDA has been increased by 2.7% from the last half year. We have a finance cost of QAR 503,000. Again, the finance cost has been decreased by 80% from the last year. The net profit and loss for best for this 6 months, we are closing with net profit QAR 861,000. Comparing what last half year is QAR 1.5 million. But again, our net profit percentage increased this year by 50% from last year. Regarding the financial statement, the balance sheet, the figure is there. It's a long list, but it's mostly very close to the -- comparing it with the last year figures. This is the update for my financials at this time. If there is any questions from anybody, I'm ready to answer.

Thank you. [Operator Instructions] As of now, we don't have any pending questions. I'd now like to hand back over to the management for the final remarks.

Well, thanks for handing back the line to me. What I need to say is, we have some new activities and the new line of business we are bringing into the business. We are waiting for the governmental approval. This will indicate increasing our revenue in the next quarter or in the second half of the year. So hopefully, our figures end of the year will be much better than before. We will be disclosing all the positive news over Qatar stock exchange. So hopefully soon, we will be announcing some good news for our shareholders. That's it from my side.

All right. If that's it, we'd like to thank Amer Abu Shaikha for the results update and giving us an outlook as well. And we look forward to speaking to you all for the third quarter 2024 results conference call. Thank you.

Sure. Thank you. Thank you, guys.

Thank you so much, everyone, for attending today's call. You may now disconnect. We hope you have a wonderful day.