Reported Earnings • Apr 22
First quarter 2026 earnings released: EPS: ر.ق0.058 (vs ر.ق0.064 in 1Q 2025) First quarter 2026 results: EPS: ر.ق0.058 (down from ر.ق0.064 in 1Q 2025). Revenue: ر.ق317.9m (down 14% from 1Q 2025). Net income: ر.ق33.8m (down 10% from 1Q 2025). Profit margin: 11% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Apr 14
Gulf Warehousing Company Q.P.S.C. to Report Q1, 2026 Results on Apr 21, 2026 Gulf Warehousing Company Q.P.S.C. announced that they will report Q1, 2026 results at 1:15 PM, Arabian Standard Time on Apr 21, 2026 New Risk • Apr 12
New major risk - Revenue and earnings growth Earnings have declined by 11% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 11% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.9% average weekly change). New Risk • Mar 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Qatari stocks, typically moving 4.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Share price has been highly volatile over the past 3 months (4.4% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ر.ق2.63, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Logistics industry in Asia. Total loss to shareholders of 15% over the past three years. Declared Dividend • Jan 22
Dividend of ر.ق0.10 announced Dividend of ر.ق0.10 is the same as last year. Ex-date: 16th February 2026 Payment date: 1st January 1970 Dividend yield will be 4.3%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 21
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ر.ق0.20 (down from ر.ق0.29 in FY 2024). Revenue: ر.ق1.38b (down 13% from FY 2024). Net income: ر.ق120.1m (down 30% from FY 2024). Profit margin: 8.7% (down from 11% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. New Risk • Nov 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Qatari stocks, typically moving 2.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (2.8% average weekly change). Profit margins are more than 30% lower than last year (7.4% net profit margin). Reported Earnings • Oct 22
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: ر.ق0.04 (down from ر.ق0.08 in 3Q 2024). Revenue: ر.ق333.1m (down 25% from 3Q 2024). Net income: ر.ق23.2m (down 50% from 3Q 2024). Profit margin: 7.0% (down from 11% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 30
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ر.ق0.294 to ر.ق0.238 per share. Revenue forecast steady at ر.ق1.57b. Net income forecast to grow 27% next year vs 16% growth forecast for Logistics industry in Qatar. Consensus price target down from ر.ق4.04 to ر.ق3.95. Share price was steady at ر.ق2.78 over the past week. Reported Earnings • Jul 24
Second quarter 2025 earnings released: EPS: ر.ق0.036 (vs ر.ق0.084 in 2Q 2024) Second quarter 2025 results: EPS: ر.ق0.036 (down from ر.ق0.084 in 2Q 2024). Revenue: ر.ق345.0m (down 7.4% from 2Q 2024). Net income: ر.ق21.2m (down 57% from 2Q 2024). Profit margin: 6.1% (down from 13% in 2Q 2024). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 14% per year. Price Target Changed • Jun 20
Price target decreased by 9.0% to ر.ق4.04 Down from ر.ق4.44, the current price target is an average from 3 analysts. New target price is 49% above last closing price of ر.ق2.72. Stock is down 17% over the past year. The company is forecast to post earnings per share of ر.ق0.29 for next year compared to ر.ق0.29 last year. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: ر.ق0.064 (vs ر.ق0.087 in 1Q 2024) First quarter 2025 results: EPS: ر.ق0.064 (down from ر.ق0.087 in 1Q 2024). Revenue: ر.ق367.7m (down 2.1% from 1Q 2024). Net income: ر.ق37.7m (down 26% from 1Q 2024). Profit margin: 10% (down from 14% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 11% per year and the company’s share price has also fallen by 11% per year. Announcement • Apr 14
Gulf Warehousing Company Q.P.S.C. to Report Q1, 2025 Results on Apr 22, 2025 Gulf Warehousing Company Q.P.S.C. announced that they will report Q1, 2025 results on Apr 22, 2025 Reported Earnings • Jan 23
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ر.ق0.29 (down from ر.ق0.37 in FY 2023). Revenue: ر.ق1.58b (up 4.9% from FY 2023). Net income: ر.ق171.9m (down 20% from FY 2023). Profit margin: 11% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 9.4%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year. Declared Dividend • Jan 23
Dividend of ر.ق0.10 announced Shareholders will receive a dividend of ر.ق0.10. Ex-date: 13th February 2025 Payment date: 1st January 1970 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 21
Gulf Warehousing Company Q.P.S.C., Annual General Meeting, Feb 12, 2025 Gulf Warehousing Company Q.P.S.C., Annual General Meeting, Feb 12, 2025, at 18:30 Arab Standard Time. Location: company`s offices, (ras bu funtas), Qatar New Risk • Jan 15
New major risk - Revenue and earnings growth Earnings have declined by 3.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Earnings have declined by 3.0% per year over the past 5 years. Announcement • Dec 30
Gulf Warehousing Co. Announces Resignation of Meppurath Ranjeev Menon as Chief Executive Officer, Effective December 31, 2024 Gulf Warehousing Co. announced that Meppurath Ranjeev Menon resigned from his position Chief Executive Officer effective December 31, 2024. Announcement • Dec 17
Gulf Warehousing Company Q.P.S.C. to Report Fiscal Year 2024 Results on Jan 21, 2025 Gulf Warehousing Company Q.P.S.C. announced that they will report fiscal year 2024 results on Jan 21, 2025 Reported Earnings • Oct 24
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: ر.ق0.08 (down from ر.ق0.091 in 3Q 2023). Revenue: ر.ق443.2m (up 27% from 3Q 2023). Net income: ر.ق46.7m (down 12% from 3Q 2023). Profit margin: 11% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Announcement • Oct 11
Gulf Warehousing Company Q.P.S.C. to Report Q3, 2024 Results on Oct 22, 2024 Gulf Warehousing Company Q.P.S.C. announced that they will report Q3, 2024 results on Oct 22, 2024 New Risk • Oct 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Qatari stocks, typically moving 3.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risk Share price has been volatile over the past 3 months (3.1% average weekly change). Announcement • Aug 10
Gulf Warehousing Company Appoints Matthew Kearns as Deputy Chief Executive Officer Gulf Warehousing Company appointed Mr. Matthew Kearns as Deputy CEO of GWC, Effective from 4th August 2024. Mr. Mattthew bring more than 14 Years of diverse experience in communication, startups, and logistics industry providing innovative solutions to various business challenges. Major Estimate Revision • Jul 30
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ر.ق1.59b to ر.ق1.52b. EPS estimate also fell from ر.ق0.39 per share to ر.ق0.347 per share. Net income forecast to grow 12% next year vs 26% growth forecast for Logistics industry in Qatar. Consensus price target broadly unchanged at ر.ق4.70. Share price was steady at ر.ق3.29 over the past week. Reported Earnings • Jul 25
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: ر.ق0.084 (down from ر.ق0.091 in 2Q 2023). Revenue: ر.ق372.6m (flat on 2Q 2023). Net income: ر.ق49.5m (down 7.2% from 2Q 2023). Profit margin: 13% (in line with 2Q 2023). Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) exceeded analyst estimates by 1.2%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Announcement • Jul 10
Gulf Warehousing Company Q.P.S.C. to Report First Half, 2024 Results on Jul 23, 2024 Gulf Warehousing Company Q.P.S.C. announced that they will report first half, 2024 results on Jul 23, 2024 Price Target Changed • Apr 30
Price target decreased by 7.3% to ر.ق4.70 Down from ر.ق5.07, the current price target is an average from 3 analysts. New target price is 42% above last closing price of ر.ق3.30. Stock is down 8.2% over the past year. The company is forecast to post earnings per share of ر.ق0.40 for next year compared to ر.ق0.37 last year. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: ر.ق0.087 (vs ر.ق0.10 in 1Q 2023) First quarter 2024 results: EPS: ر.ق0.087 (down from ر.ق0.10 in 1Q 2023). Revenue: ر.ق375.7m (down 9.0% from 1Q 2023). Net income: ر.ق50.9m (down 17% from 1Q 2023). Profit margin: 14% (down from 15% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • Apr 16
Gulf Warehousing Company Q.P.S.C. to Report Q1, 2024 Results on Apr 23, 2024 Gulf Warehousing Company Q.P.S.C. announced that they will report Q1, 2024 results on Apr 23, 2024 Announcement • Feb 08
Gulf Warehousing Co. Announces Appointment of Sheikh. Mohammed Bin Hamad J.J Al- Thani as Chairman Gulf Warehousing Co. announced the appointment of Sheikh. Mohammed bin Hamad J.J Al- Thani as Chairman with effect from 07/02/2024. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: ر.ق0.37 (vs ر.ق0.41 in FY 2022) Full year 2023 results: EPS: ر.ق0.37 (down from ر.ق0.41 in FY 2022). Revenue: ر.ق1.51b (flat on FY 2022). Net income: ر.ق215.0m (down 10% from FY 2022). Profit margin: 14% (down from 16% in FY 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Declared Dividend • Jan 25
Dividend increased to ر.ق0.11 Dividend of ر.ق0.11 is 10.0% higher than last year. Ex-date: 8th February 2024 Payment date: 1st January 1970 Dividend yield will be 3.4%, which is higher than the industry average of 2.9%. Payout Ratios Payout ratio: 25%. Cash payout ratio: 221%. Reported Earnings • Oct 29
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: ر.ق0.091 (down from ر.ق0.10 in 3Q 2022). Revenue: ر.ق350.0m (down 10% from 3Q 2022). Net income: ر.ق53.2m (down 11% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). Revenue missed analyst estimates by 13%. Earnings per share (EPS) exceeded analyst estimates by 1.1%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 04
Price target decreased by 11% to ر.ق5.07 Down from ر.ق5.70, the current price target is an average from 3 analysts. New target price is 49% above last closing price of ر.ق3.39. Stock is down 22% over the past year. The company is forecast to post earnings per share of ر.ق0.38 for next year compared to ر.ق0.41 last year. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ر.ق3.48, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 14x in the Logistics industry in Asia. Total loss to shareholders of 14% over the past three years. Price Target Changed • Jan 26
Price target decreased by 7.8% to ر.ق5.90 Down from ر.ق6.40, the current price target is an average from 2 analysts. New target price is 60% above last closing price of ر.ق3.69. Stock is down 18% over the past year. The company is forecast to post earnings per share of ر.ق0.41 for next year compared to ر.ق0.38 last year. Announcement • Jan 10
Gulf Warehousing Company Q.P.S.C. to Report Fiscal Year 2022 Results on Jan 24, 2023 Gulf Warehousing Company Q.P.S.C. announced that they will report fiscal year 2022 results at 1:15 PM, Arabian Standard Time on Jan 24, 2023 Reported Earnings • Oct 27
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: ر.ق0.10 (up from ر.ق0.096 in 3Q 2021). Revenue: ر.ق390.6m (up 21% from 3Q 2021). Net income: ر.ق59.4m (up 5.8% from 3Q 2021). Profit margin: 15% (down from 17% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 36%. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year. Announcement • Oct 18
Gulf Warehousing Company Q.P.S.C. to Report Q3, 2022 Results on Oct 25, 2022 Gulf Warehousing Company Q.P.S.C. announced that they will report Q3, 2022 results at 1:15 PM, Arabian Standard Time on Oct 25, 2022 Price Target Changed • Aug 04
Price target increased to ر.ق6.05 Up from ر.ق5.10, the current price target is provided by 1 analyst. New target price is 39% above last closing price of ر.ق4.35. Stock is down 15% over the past year. The company is forecast to post earnings per share of ر.ق0.43 for next year compared to ر.ق0.38 last year. Reported Earnings • Jul 28
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: ر.ق0.097 (up from ر.ق0.092 in 2Q 2021). Revenue: ر.ق367.7m (up 13% from 2Q 2021). Net income: ر.ق57.0m (up 5.6% from 2Q 2021). Profit margin: 16% (down from 17% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 2.0%. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Announcement • Jul 19
Gulf Warehousing Company Q.P.S.C. to Report First Half, 2022 Results on Jul 26, 2022 Gulf Warehousing Company Q.P.S.C. announced that they will report first half, 2022 results on Jul 26, 2022 Reported Earnings • May 08
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: ر.ق0.10 (up from ر.ق0.093 in 1Q 2021). Revenue: ر.ق351.4m (up 18% from 1Q 2021). Net income: ر.ق57.8m (up 6.3% from 1Q 2021). Profit margin: 17% (down from 18% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%. Over the last 3 years on average, earnings per share has fallen by 2% per year and the company’s share price has also fallen by 2% per year. Reported Earnings • Jan 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ر.ق0.38 (down from ر.ق0.40 in FY 2020). Revenue: ر.ق1.30b (up 5.7% from FY 2020). Net income: ر.ق224.9m (down 4.7% from FY 2020). Profit margin: 17% (down from 19% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 5.8%, compared to a 22% growth forecast for the industry in Qatar. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS ر.ق0.096 (vs ر.ق0.10 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ر.ق323.8m (down 1.1% from 3Q 2020). Net income: ر.ق56.2m (down 8.5% from 3Q 2020). Profit margin: 17% (down from 19% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS ر.ق0.092 (vs ر.ق0.10 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ر.ق325.1m (up 7.5% from 2Q 2020). Net income: ر.ق54.0m (down 8.8% from 2Q 2020). Profit margin: 17% (down from 20% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • May 01
First quarter 2021 earnings released: EPS ر.ق0.09 (vs ر.ق0.086 in 1Q 2020) The company reported a solid first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: ر.ق298.9m (flat on 1Q 2020). Net income: ر.ق54.4m (up 7.8% from 1Q 2020). Profit margin: 18% (up from 17% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year. Is New 90 Day High Low • Feb 20
New 90-day low: ر.ق5.01 The company is down 1.0% from its price of ر.ق5.04 on 19 November 2020. The Qatari market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 19% over the same period. Announcement • Feb 18
Gulf Warehousing Company Q.P.S.C. Announces Executive Changes The AGM of Gulf Warehousing Company Q.P.S.C. elected a new Board of Directors consisting of 9 members for the period of year 2021 to 2023. 13 Nominees applied for the nomination and the shareholders elected 9 members are as follows:1. Sheikh. Abdulla bin Fahad J.J Al- Thani. - Al-Daeem Trades Co2. Sheikh. Fahad bin Hamad J.J Al- Thani. - Mirqab Capital 3. Mr. Ahmad Mubarak Al- Maadid - Al-Batil Trades Co4. Dr. Hamad Saad M. Al- Saad. - El-Shameel Group Ltd5. Mr. Sultan Yousef K. Alsuliti. - Al-Sanaam Trades Co6. Mr. Mohammed Abdulmoneim AlSayed7. Ms. Henadi Anwar AL-Saleh – Agility Co 8. Mr. Mohammed Hassan AlEmadi – Personal9. Ahmed Mohammed A R AlMannai – Personal Immediately after the general assembly the newly constituted, board members met and elected the following members with specific responsibilities:1. Sheikh. Abdulla bin Fahad J.J Al- Thani. Chairman of the Board2. Sheikh. Fahad bin Hamad J.J Al- Thani . Vice ChairmanAll the attended shareholders approved the conditions of the AGM and its resolutions. Announcement • Feb 12
Gulf Warehousing Company Q.P.S.C., Annual General Meeting, Feb 15, 2021 Gulf Warehousing Company Q.P.S.C., Annual General Meeting, Feb 15, 2021. Agenda: To consider the hearing of the report of the board of directors on the activity of the company and its financial status over the year and the auditor's report and approve them; to discuss the balance sheet and profit and loss account and to approve them the year ended 31, 2020; and to consider other matters. Is New 90 Day High Low • Feb 03
New 90-day high: ر.ق5.30 The company is up 6.0% from its price of ر.ق4.98 on 05 November 2020. The Qatari market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 9.0% over the same period. Reported Earnings • Jan 28
Full year 2020 earnings released: EPS ر.ق0.40 (vs ر.ق0.43 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ر.ق1.23b (up 1.0% from FY 2019). Net income: ر.ق236.0m (down 5.4% from FY 2019). Profit margin: 19% (down from 20% in FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Analyst Estimate Surprise Post Earnings • Jan 28
Revenue behind estimates Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Is New 90 Day High Low • Jan 12
New 90-day high: ر.ق5.24 The company is up 1.0% from its price of ر.ق5.20 on 14 October 2020. The Qatari market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Logistics industry, which is down 2.0% over the same period. 
