- MPHC reported a net profit of QR719 million in 2024, impacted by declining selling prices and lower sales volumes.
- The company’s petrochemicals segment faced a drop in sales, while the chlor-alkali segment recorded higher volumes.
- MPHC proposed a total annual dividend payout of QR716 million, pending approval at the Annual General Assembly Meeting.
Doha, Qatar – Mesaieed Petrochemical Holding Company (MPHC) has announced a net profit of QR719 million for the year ending December 31, 2024. Despite facing macroeconomic uncertainties and market volatility, the company remains committed to long-term value creation and financial stability.
Market Conditions and Financial Performance
The decline in profitability compared to 2023 was primarily due to a decrease in selling prices and lower sales volumes. This resulted in a contraction of the Group’s revenue and profit margins. MPHC’s petrochemicals segment reported a drop in sales volumes, while the chlor-alkali segment saw an increase, partially offsetting the decline.
Chairman of the Board, Ahmad Saif Al Sulaiti, highlighted MPHC’s resilience in navigating these challenges. “Our robust balance sheet reflects our strong financial and competitive standing. We continue to leverage our operational excellence and strategic initiatives to sustain growth and maximize shareholder value,” he said.
EBITDA and Segment Performance
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) also declined due to lower revenue and decreased production in the petrochemicals sector. The average selling prices in the segment further impacted the overall EBITDA and profit margins.
MPHC’s overall financial performance was negatively affected by lower earnings from both the petrochemicals and chlor-alkali segments. These combined factors led to a weaker year-on-year financial outcome for 2024.
Dividend Distribution and Shareholder Returns
Despite the challenging market conditions, MPHC’s Board of Directors has proposed a second-half 2024 dividend distribution of QR377 million, equivalent to QR0.03 per share. The total annual dividend payout stands at QR716 million, translating to QR0.057 per share. This proposal is subject to approval at the company’s Annual General Assembly Meeting.
Investor Relations and Outlook
MPHC will host an investor relations (IR) earnings call on February 5, 2025, at 1:30 p.m. Doha time. The company will discuss its financial results and outlook for the coming year, with the presentation available on MPHC’s investor relations webpage.
Looking ahead, MPHC remains focused on strengthening its market position through financial resilience and strategic investments. The company aims to mitigate risks, optimize operations, and drive sustainable growth despite global economic uncertainties.
