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QNA
Doha
The Board of Directors of Qatar Electricity and Water Company (QEWC) held its second meeting for the year 2020 on Sunday. Chaired by Minister of Energy Affairs and Chairman of the QEWC Board of Directors HE Saad Sherida al Kaabi, the meeting was held through visual communication technology.
The board discussed the positive financial results for the quarter ended March 31, 2020, and the financial position reviewed by the auditors of the company. The financial statements witnessed a net profit of QR 320 million (net of non-controlling interests) against QR309 million for the same period of the year 2019.
The earning per share (EPS) amounted to QR 0.29 in 2020 compared to QR 0.28 for the same period of last year.
The first quarter of the year 2020 showed sales of QR 599 million compared to QR539 million for the same period of the previous year
The board also discussed the precautions taken by QEWC and its group companies to confront the outbreak of the Coronavirus and its effect on generation and desalination plants.
In line with Qatar’s efforts to combat the spread of the virus, QEWC will ensure the continued production of electricity and water with high efficiency during the summer period.
The board expressed satisfaction with the company’s financial performance and expressed its optimism that the company will have a promising future with projects and excellent future strategies.
QEWC attaches great importance, in co-operation with the concerned authorities, to meet Qatar’s electricity and water needs without any potential outage.
The company is working in this framework to implement many megaprojects, most of which are local projects to meet the state’s requirements and needs of electricity and water, in addition to external projects that support the investment agenda of the company through investment arms serving its global expansion.
QEWC has completed many tasks entrusted to it in this regard and it aspires to achieve more, locally and globally, by increasing the diversification of energy production sources in Qatar and increasing its share in the global energy markets.
Doha
The Board of Directors of Qatar Electricity and Water Company (QEWC) held its second meeting for the year 2020 on Sunday. Chaired by Minister of Energy Affairs and Chairman of the QEWC Board of Directors HE Saad Sherida al Kaabi, the meeting was held through visual communication technology.
The board discussed the positive financial results for the quarter ended March 31, 2020, and the financial position reviewed by the auditors of the company. The financial statements witnessed a net profit of QR 320 million (net of non-controlling interests) against QR309 million for the same period of the year 2019.
The earning per share (EPS) amounted to QR 0.29 in 2020 compared to QR 0.28 for the same period of last year.
The first quarter of the year 2020 showed sales of QR 599 million compared to QR539 million for the same period of the previous year
The board also discussed the precautions taken by QEWC and its group companies to confront the outbreak of the Coronavirus and its effect on generation and desalination plants.
In line with Qatar’s efforts to combat the spread of the virus, QEWC will ensure the continued production of electricity and water with high efficiency during the summer period.
The board expressed satisfaction with the company’s financial performance and expressed its optimism that the company will have a promising future with projects and excellent future strategies.
QEWC attaches great importance, in co-operation with the concerned authorities, to meet Qatar’s electricity and water needs without any potential outage.
The company is working in this framework to implement many megaprojects, most of which are local projects to meet the state’s requirements and needs of electricity and water, in addition to external projects that support the investment agenda of the company through investment arms serving its global expansion.
QEWC has completed many tasks entrusted to it in this regard and it aspires to achieve more, locally and globally, by increasing the diversification of energy production sources in Qatar and increasing its share in the global energy markets.
