EBITDA

DP World announces solid financial results

Dubai - Musimchronicle

Global trade enabler DP World today announced solid financial results for the six months to 30th June, 2017. On a reported basis, revenue grew 9.6 percent and adjusted EBITDA increased by 4.2 percent. Adjusted EBITDA margin was 53.4 percent, delivering profit attributable to owners of the company, before separately disclosed items, of US$606 million and EPS of 73.0 US cents.Read more

Amid Unfavorable Sector Fundamentals, OCP Reported Sustained Profitability Levels

Rabat - Arab Today

The Global leader in fertilizers OCP reported full year earnings. Revenue plunged by 11.0% to MAD 42,471 million (USD 4.3 billion) dragged down by lower prices. A continued market glut mainly due to high Chinese exports levels weighed on fertilizer prices which plummeted by 23%. Demand albeit healthy was not strong enough to offset the oversupply. The group’s efforts toRead more

Global integrated oil and gas sector outlook turns positive

Jeddah - Arab Today

Moody’s Investors Service (Moody's) has changed its outlook on the global integrated oil and gas sector to positive from stable as higher profits from upstream operations fuel a faster recovery in earnings growth. “We expect earnings growth for the global integrated oil and gas industry of between 13 to 18 percent this year, assuming oil prices remain around the midpointRead more

Eurotunnel hails 'best year ever' as profits triple

Paris - AFP

Eurotunnel, which manages the rail link under the Channel, said Wednesday that 2016 was the best year in its more than 20-year history as profits tripled and passenger numbers grew. Despite fears over Britain's exit from the EU and terrorism jitters in France, Eurotunnel posted profits of 200 million euros ($211 million), helped by recent acquisitions. "It's the best yearRead more

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

Doha - QNA

Ooredoo Group announced its financial results for the year ended 31 December 2016, posting net profit of QR 2.2 billion, an increase of 4 percent compared o the previous year, the group said in a press release issued on Wednesday. Group earnings per share stood at QR 6.84 in 2016, compared to QR 6.61 in 2015. Ooredoo Chairman HE SheikhRead more

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

Doha - QNA

Moody’s predicts modest rebound for crude, gas industry

New York - Arab Today

The global oil and gas industry will continue to struggle under the weight of high debt levels in the coming year, even as the industry rebounds modestly from its 2016 trough, Moody’s Investors Service says in its 2017 outlook. Among the firm’s outlooks for the various energy sectors, two carry stable outlooks, two have negative outlooks and one outlook isRead more

NMC Health expands into KSA

Abu Dubai - Arab Today

NMC Health said it had expanded into Saudi Arabia through an investment and an acquisition, the first foray into the wider Gulf for the UAE-based health care provider. This enabled it to raise its guidance for 2017 group EBITDA (earnings before interest, tax, depreciation and amortization) to $300 million from the previously-disclosed $290 million, NMC said in a statement. NMC,Read more

Rosneft profits tumble by 80%

Moscow - AFP

Russian oil giant Rosneft said Wednesday that low oil prices in the first quarter of the year had haemorrhaged its profits, with tumbled by 80 percent. The company reported a first-quarter net profit of $200 million, after having recorded profits of $1 billion during the same period last year. Rosneft's total revenue suffered a 32.6 percent drop, falling to $14.5Read more

Senaat’s revenues exceeds AED 14 bn and EBITDA at AED 2 bn in 2015

Abu Dhabi - WAM

Senaat General Holding Corporation ("Senaat" or "the Group"), a leading industrial holding company in Abu Dhabi, has recorded a strong performance for the year, registering revenues of approximately AED 14.04 bn for FY 2015, a 5 per cent increase from AED 13.42 bn in revenues achieved in FY 2014. The increase in revenues reflects a stronger commercial performance across theRead more