Salam International Investment Limited Q.P.S.C. (SIIS) Earnings Call Transcript & Summary

Hello, and welcome to Salam International Conference Call. Please note that this call is being recorded. I would now like to hand the call over to our moderator, Roy Thomas. Please go ahead.

Thanks, Justin. Hello, everyone. This is Roy Thomas from QNB Financial Services. I want to welcome everyone to Salam International Investment Limited Fourth Quarter and Year-End 2024 Financial Results Conference Call. On this call from Salam International Investment Limited, we have Abdul Salam Abu Issa, Chief Executive Officer; Hekmat Al Younis, the Chief Financial Officer; Suleiman Al-Khateeb, the ED, Corporate Development and IRO; and Abdul Rahiman Pacha, the Corporate Finance Manager. 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 Abdul Salam Abu Issa. Go ahead, Abdul Salam.

Thank you. Good afternoon, everybody. Just I'll give you a quick review about the results of 2024, and then we'll open it for Q&A. Overall, the company has done great results compared to last year. Revenues have increased from QAR 1.5 billion last year to QAR 1.68 billion with a growth of 9%. Net profit increased by 24% to QAR 51.3 million. Overall, we have put a lot of effort in reducing the general admin expenses by around 11% to bring it down to QAR 300 million, down from QAR 337 million last year. Interest rate has also impacted our results positively with a 5% reduction from QAR 128 million to QAR 122 million. Overall, the results have seen a great improvement compared to last year. Most sectors are benefited from this improvement. Our strongest -- our strongest revenue growth has been from our energy sector, followed by the interior fit-out and the luxury department. So overall, it's been a good year, and we're looking forward to better year in 2025. Thank you.

Justin, you could go ahead and open it for Q&A.

I apologize. I've been speaking off mute. Thank you for that. [Operator Instructions] So it looks like we do not have any questions on queue as of right now. I will turn the call back over to Roy Thomas for closing remarks. Mr. Thomas, you might be on mute.

Yes. If there are no further questions, we'd like to thank Abdul Salam Abu Issa for the results update. And we look forward to speaking to you all for the first quarter 2025 results conference call. Thank you.

Thank you. Thank you.

The meeting has now concluded. Thank you all for joining. You may now disconnect.