Poor performance; no recovery in sight
IQ closed the year with a revenue drop of -12.5% to QAR5.228bn. 2015 net profit amounted to QAR4.445bn, down by 29.9%, compared to QAR6.341bn a year earlier. The EBITDA margin dropped to 21.3% vs. 23.0%, yoy. The net profit also slumped by 29.91% to reach QAR4.445bn. By segment, all of the group’s activities posted a decline in both revenues and net profit. The Petrochemicals segment suffered the largest drop as its net profit fell down by 37.2% to reach QAR2.61bn vs.
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