Estithmar Holding Reports Robust Q1 2025 Performance with 50% Surge in Net Profit to QAR 170 Million
Doha, Qatar – Estithmar Holding Q.P.S.C. has reported a stellar start to the year, announcing a significant 50% year-over-year increase in net profit for the first quarter of 2025. The company posted QAR 170 million in net profit, up from QAR 113 million in Q1 2024. This impressive growth underscores the success of the company’s diversified investment strategy and the strong momentum it continues to build across both domestic and international markets.
The Group’s revenues saw a striking 64% jump, rising to QAR 1.3 billion in Q1 2025 from QAR 797 million in the same period last year. This increase was accompanied by an equally notable improvement in gross profit, which more than doubled to reach QAR 416 million compared to QAR 196 million in Q1 2024. EBITDA also rose significantly, reaching QAR 273 million, marking a 53% increase year-over-year. Additionally, earnings per share (EPS) grew by 57% to QAR 0.047, reflecting the company’s growing profitability and enhanced shareholder value.
These outstanding results are a direct reflection of Estithmar Holding’s strategic focus on operational efficiency, geographic diversification, and sectoral balance. The company has been executing on a long-term vision to grow its footprint across multiple sectors and markets, and Q1 2025’s financial performance provides clear evidence that this vision is translating into tangible results.
Strategic Impact of International Expansion
Estithmar Holding has been proactively expanding its operations beyond Qatar in recent years, and the positive financial impact of this international strategy is now becoming more evident. The company’s portfolio includes projects across the Middle East and North Africa (MENA) region, particularly in healthcare, hospitality, contracting, and industrial sectors. These ventures are not only contributing to revenue and asset growth but are also establishing Estithmar Holding as a trusted partner in several key international markets.
The international expansion has also enhanced the Group’s risk profile by reducing reliance on a single geography. This strategic diversification is creating more resilient income streams and long-term growth opportunities that benefit shareholders.
Cluster-Based Contributions Drive Balanced Growth
A key component of Estithmar Holding’s success is its structured approach to business operations, which are organized into four strategic clusters: Healthcare, Services, Tourism & Real Estate Development, and Contracting & Industries. Each cluster made meaningful contributions to the Group’s strong first-quarter results, highlighting the value of a balanced and diversified business model.
Healthcare Cluster: Expansion Across MENA
The Healthcare cluster, led by the company’s subsidiary Apex Health, delivered strong growth during Q1 2025. A major driver of this success has been the performance of hospitals outside Qatar, which are now generating substantial new income streams. Facilities such as the Imam Al-Hassan Al-Mujtaba Hospital in Karbala and Al-Nasiriyah Teaching Hospital in Iraq, along with the Misrata Heart & Vascular Center in Libya, have started to contribute meaningfully to the Group’s revenues.
These hospitals underscore the increasing demand for high-quality healthcare services across the MENA region, and the trust regional governments have placed in Estithmar Holding. The healthcare expansion into Iraq, Algeria, and Libya not only diversifies revenue but also strengthens the company’s presence in vital, underserved markets with long-term potential.
Services Cluster: Regional Expansion Fuels Growth
The Services cluster continues to perform exceptionally well, maintaining its market leadership in Qatar, particularly in Facilities Management and Catering. In Q1 2025, the Group capitalized on growth opportunities outside Qatar, particularly in the Kingdom of Saudi Arabia, Jordan, and Iraq. These regional expansions have resulted in the development of new income streams and helped further solidify Estithmar Holding’s reputation as a reliable provider of essential services across the region.
The ability to replicate the successful service models established in Qatar in new markets has created substantial value and enabled the Group to benefit from economies of scale and knowledge transfer.
Tourism & Real Estate Development Cluster: Driving Asset Growth
Estithmar Holding’s Tourism & Real Estate Development cluster also recorded positive momentum in Q1 2025. The successful advancement of projects such as the Rixos Baghdad Hotel in Iraq and the luxurious Rosewood Maldives Resort contributed to a QAR 600 million increase in the company’s total assets during the quarter.
Existing destinations like Lusail Winter Wonderland and Al Maha Island have also demonstrated improved operational efficiency, which has translated into higher profitability. This cluster remains a cornerstone of the Group’s strategy to expand into high-value tourism markets, which offer recurring income and strong brand recognition.
Contracting & Industries Cluster: Delivery and New Wins
In the Contracting & Industries cluster, the Group reported strong contributions driven by ongoing and newly secured projects. The peak delivery phase of major infrastructure projects in Saudi Arabia—such as the prestigious Red Sea Airport and a luxury Yacht Club—was a highlight of Q1 2025.
Moreover, the company successfully secured contracts with prominent Saudi entities, including companies affiliated with the Public Investment Fund (PIF). These partnerships mark an important milestone in Estithmar Holding’s expansion in the Kingdom and are expected to drive growth in the coming quarters. In parallel, local operational efficiency improvements in Qatar have further enhanced the Cluster’s bottom line.
CEO Perspective: Sustained, Diversified Growth
Commenting on the results, Estithmar Holding’s Group CEO, Mr. Juan Leon, praised the efforts of the team and expressed confidence in the Group’s ability to maintain its growth trajectory:
“The exceptional rise in all financial indicators reflects the dedication of Estithmar’s team, and I look forward to working closely with them to build on Estithmar Holding’s growth story in Qatar and abroad. Analyzing these results, Estithmar Holding has demonstrated the ability to deliver sustained, diversified growth—both vertically and horizontally—paving the way for further expansion as investor confidence strengthens and our footprint continues to grow both locally and internationally.”
Mr. Leon emphasized the importance of building a sustainable business that not only achieves near-term performance targets but also lays the foundation for long-term value creation. This strategy, he noted, is built on sound investments, operational excellence, and a commitment to quality across all business lines.
Looking Ahead: Positioned for Long-Term Success
Estithmar Holding’s performance in the first quarter of 2025 sets a strong foundation for the remainder of the year. With a clear focus on strategic execution, operational efficiency, and market expansion, the Group is well-positioned to continue delivering value to shareholders and stakeholders alike.
As the company continues to scale its presence across the MENA region and deepen its investments in high-growth sectors, it is expected to maintain strong financial performance and resilience in a dynamic global economic environment.