Estithmar Holding Q.P.S.C reported a solid financial performance for the first nine months of 2026, highlighted by a 15.4% rise in earnings before interest, taxes, depreciation, and amortization (EBITDA) to QAR 1.248 billion, alongside a 5.9% increase in net profit to QAR 744 million. Despite a 7.6% decline in revenue to QAR 4.526 billion, the company improved its profitability margins, with the EBITDA margin expanding to 28% from 22% and net profit margin increasing to 16% from 14% compared with the same period last year.
Earnings per share rose slightly to QAR 0.165, up from QAR 0.162 in the comparable 2025 period, adjusted for bonus shares. The company’s Tourism Investments & Real Estate Development segment posted robust growth, with revenue surging 94% to QAR 294 million and net profit climbing from QAR 21 million to QAR 71 million, driven in part by advancements at the Rixos Baghdad project.
On the balance sheet front, Estithmar Holding strengthened its financial position, with shareholders’ equity rising 16.3% to QAR 5.557 billion, while total liabilities fell 2.5% to QAR 9.531 billion. Cash and bank balances also improved, reaching QAR 414 million compared to QAR 338 million at the end of 2025.
During the nine-month period, the firm invested QAR 1.374 billion across various projects aligned with its growth strategy. Key allocations included QAR 647 million in Rosewood Maldives, a luxury private-island resort under development; QAR 294 million in the Rixos Baghdad Hotel & Residences, which will feature 497 hotel and residential units; QAR 190 million toward the Algerian Qatari German Hospital (HAQA), a healthcare facility expected to open in 2027 with over 300 beds; QAR 160 million in Shahba Bank; and QAR 83 million across other projects. These investments support the group’s diversified interests spanning hospitality, real estate, healthcare, and financial services.
Chief Executive Officer Basel Shaddad emphasized the company’s resilient business model and commitment to profitable growth. He noted that the expanded EBITDA margin and improved earnings illustrated stronger operational performance, underpinned by ongoing investments intended to ensure long-term value creation for shareholders. Shaddad reaffirmed the company’s focus on enhancing portfolio performance, progressing strategic investments, and selectively pursuing growth opportunities across its segments and international markets.
In addition to its investment activities, Estithmar Holding’s Specialized Contracting & Industries segment made significant progress. Elegancia, the group’s contracting arm, secured major contracts including a turnkey project valued at over QAR 500 million for the MEEZA Data Center in Qatar, and a mechanical works package worth SAR 829 million at Saudi Arabia’s Prince Mohammed Bin Salman Stadium at Qiddiya, to be executed by Elegancia MEP through its regional affiliate Elegancia Arabia.
Overall, Estithmar Holding maintains its strategy of disciplined capital allocation aimed at strengthening its portfolio and driving sustainable, long-term shareholder value amid ongoing expansion in key regional and international markets.