HE al-Sada and al-Sulaiti: Robust performance.

Nakilat has earned a net profit of QR756.3mn in the first nine months of this year, up 9% on the same period last year.
“The healthy financial results reflect Nakilat’s strategic development, the success of its joint ventures, and the company’s resilience in the challenging economic climate,” the company said in a release.
The board of directors stated that Nakilat was in an enviable position within the energy industry in facing the current economic situation, as the company’s ships were on long-term charter hire contracts that were not impacted by temporary fluctuations in oil prices.
The board also stated their continued commitment to Nakilat’s growth and development strategy, in line with the Qatar National Vision 2030.
HE the Minister of Energy and Industry, Dr Mohamed bin Saleh al-Sada is Nakilat’s chairman.
Nakilat managing director Abdullah al-Sulaiti said, “Nakilat continues to show robust profits and growth. Despite regional challenges, our policy of making prudent investments for achieving higher economic benefit in the short and long-term, and seeking sustainable growth opportunities continues to work in our favour. We have also lowered our operating costs, and our financing costs are decreasing as we have repaid a suitable amount of our loans.”
“We have also seen increased profits from our joint ventures, particularly since the launch of new two vessels during the year, along with an additional five vessels that became fully operational. Nakilat’s place as the lynchpin in the Qatari marine services sector will continue to grow unabated,” al-Sulaiti added.
Standard & Poor’s has reaffirmed Nakilat Inc senior debt credit rating at ‘AA- ’with a stable outlook, which is indicative of Nakilat’s “strong capability” to meet its financial commitments.