Q HOLDING PSC
Brief of the major elements of consolidated financial statements
Brief of the consolidated statement of
financial position AED'000
As at
Particulars
30 June 2023 31 December 2022
Non-current assets 9,574,416 8,906,345
Current assets 9,742,762 10,635,399
Non-current liabilities 1,598,542 1,709,480
Current liabilities 3,230,764 3,584,411
Total equity 14,487,872 14,247,853
Total equity and liabilities 19,317,178 19,541,744
Brief of the consolidated AED'000
statement of profit or loss
For the period ended
Particulars
30 June 2023 30 June 2022
Revenues 610,040 434,834
Operating profit 590,110 181,762
Adjusted EBITDA 609,893 266,076
Profit for the period 214,452 676,053
Basic and diluted earnings per share (AED) 0.03 0.11
Majefl Fuad Mohammad Odeh holding
Group Chief Executive Officer
Q Holding PSC
Q HOLDING P.S.C. | Tel: +971 2 6992222
P.O.Box: 48111, Abu Dhabi, UAE | www.qholding.comQ HOLDING PSC
4 ju£ jZi
Management discussion and analysis for the period
ended
30 June 2023
o^jSall ojhyi j <jujalLft
Page 1 of 4Q Holding PSC and its subsidiaries (“the cjlSj__illj 4 j__ui j___________uj
Group”) is pleased to report its performance for
Y . YT J—ujj V. 3 A—o^Lill ij-t
the period ended 30 June 2023 with an operating
profit of AED 590 million (before fair value » AjA jj 0 • Cj—xL 4jlji___>13 £-1___Jji
changes) in comparison to a profit of AED 182 (4__ Ijlxll 4 Aja’I __J Cjlj__Jxjll J__13) (_gjljl__ 4
million same period in 2022 representing 224% i j_j__jlo 1 AY Cl___ill 'jl? 4 'ijlxa
increase. The Group has recorded revenues of I—oo Y • Y Y 4_JjU4I oj—iill ^3 ^jl jl—4
AED 610 million for the period ended 30 June 4__c._joa»oll Cila—ui %Y Y £ 4j__mil ojl__j j (J_joj
2023 compared to AED 435 million same period *1 ?__ A jJ jj jl* "I 1 • 4 2>ja> Cll4j jl
in 2022 representing 40% increase. Total assets Y • Yf j_ujj V. ^__3 2 Jgy,j| aj_all J^l_s.
amounted to AED 19,317 million as at 30 June *41 *l^jl *1 uj_ 4o £ Y’o __ i 4_
2023 compared to AED 19,542 million at the 4j__uuii ii.ll——J j J joj I___ ox Y • Y Y ^1 »' I—_£il3
start of the year. IV1V JJ—^VI Jl—e—b .%i •
^L-ijUU Y . YV V. Jljl—4
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,fbdl
Key highlights during the six-month period J 4jj"hoil AluJI 4jjS J51A Lliill JjjI
ended 30 June 2023 (“Hl 2023”) (”Y » YT <_iuajll") Y . Yf jJjj T.
• After the successful launch of Phase 1 of
its residential project "Reem Hills" on Al
Reem Island in the Emirate of Abu 4—C. 41 <*' '414 i ^jlaj_ii o jl—4 3
Dhabi, the Group also launched Phase 2 (Jj^/I >—s_>-aill J5I_3. 4_jiljll 4_la.^41 I_ Jail
during the first half of the year 2023. , Y • Y V ^Ixll jo
• The Group and ORA Real Estate
Development Group have signed a 4_alsjl jl_idl
partnership agreement to develop a smart
and sustainable city in the Ghantoot
A
region of Abu Dhabi, UAE. The
integrated city will span over 20 million
4jX ... CiLoi-a. (
square meters and will provide the
community with residential, hotel, 4 J ■ ^4jjj 4__ ja^iaj
cultural, commercial, sporting and oii^lJl 4_aUJl
recreational services, all with a focus on a aI 1'uAflj
renewable energy and sustainability.
Page 2 of 4Profit or loss analysis for the six-month
ended 30 June 2023 ("Hl 2023”) ("y.yv fUUjyinr.rr
Revenues: The Group reported revenues of (A jX-3 OElj—11 (j—C. 4 Jl I Ur.i ;(j|
AED 610 million during Hl 2023 compared to JjVI a-i-^jll ^1 jl_al 11 .
AED 435 million during the same period in 2022 ^1 jL.1 ^-AjJ jj-jL tVo_i 4_jjaa tY . YT
representing 40 % increase. 4< “'i; oj|_ij (J-xoj 1—aa Y • Y Y ^l_*Jl (j_a I-$jI3 oj-iill
Operating profit for the period: The Group ^IjjI (je- Ac.ja>all jliB AjL*—uull
reported AED 590 million as an operating (3A) (jjjla ajIj*
profit (before fair value changes) in Hl 2023 Y • Y f ^L*B cly^l l ° ■ '-ill (jo (A-bLidl 4 aj«!l ^3
compared to AED 182 million profit during the
first six-months period in 2022 representing 4j “''n SXj (Jlaj t^a Y • Y Y ^Ixll (ja Aj.
224% increase. .%m
Adjusted EBITDA for the period: The
Group reported AED 610 million as ...yij A ijj .>il|j| Aj|j&l| Jj3 Alixall
adjusted EBITDA in Hl 2023 compared jc. S_c.^xa^ll cTi ilc.i :»jaill (EBITDA)
to AED 266 million in Hl 2022 ^1 jlal jj JjjE "tI • EBITDA ^Ijj!
jjjla Y *1 *1 ____1 4jjlia Y • Y Y* ^lo (ja (JjV I uoi!l ^3
representing 129 % increase.
(JlaJ laa Y • Y Y ^lc (ja (Jj5?l <—S j^jljla] jJ
, Z Y 1 4 HUH 6 jL j
Finance costs: Finance costs - net, (ja (Jjjajll i ailKi ‘ b?1**'
decreased from AED 74 million in Hl Y . Y Y el*U JjSfl I •«.^>11 ^1 jlal fA> (jjala V £
2022 to AED 6 million in Hl 2023 as a ^Lxll (JjSlI i—a__uoill ^IjL-ol ^AjJ (jjA“ 3 Jl
result of netting off of interest income <—Laajll ^3 4 all ^jl^ill OljljjI >>.3 2■a.jii Y • Y T
earned in Hl 2023. Additionally, pre­ jIXuJl (Jj3 Lo i JjSj LaS ,Y • Y T ^Ic. (ja (Jj^l
settlement costs were incurred on a (ja (Jj’^l < a izi'ill (Jjla. L<-ia i—jjjjj JLij
banking arrangement during Hl 2022. ,Y . YY
Page 3 of 4Financial position analysis as at r • V r jjju r. j—s>ji
30 June 2023 (“Hl 2023”) C’Y.rr fUiijyin u^uii")
Total assets: Total assets reported as h ,n v j_L aSn -a>i
AED 19,317 million at the end of the period ended V • j^—3 4_jljj ("J-S (■jjljL-ol ^_A j4 (jj jla
30 June 2023 against AED 19,542 million at the 3 —a] * J- Qj jG ) 5 , O t Y (J A Qa Y • Y V j-JJjJ
start of 2023. .Y»YT AjL>j
Total liabilities: Total liabilities at the end of 4-A$j OLjllxdl (_s1La=>.I all
Hl 2023 was AED 4,829 million compared to ,Yr e1*11 *■
AED 5,294 million at the beginning of the year AjI^j jLJ (jjjLo o, Y 5 i _j Ajjlio
2023. ,Y .YT ?U
Total equity: Total equity at the end of Hl
2023 was AED 14,488 million compared to y . yr eGdi —'ii cs-a l>a1-^i
AED 14,248 million at the start of the year < 4 ijlia ”1 f * J ' (jj 1 , t
2023. __c. 4_ jIjj (_s_ a jL^q] •» /jj jE 1 f, Y t A
,y .yt
Majed Fuad Mohammad Odeh
Group Chief Executive Officer
holding
CLEXll_____ oJI
Page 4 of 4

Sentiment: neutral