Profit of 1.156 billion riyals of electricity and water company Power and Energy

The Board of Directors of Qatar Electricity and Water Company held its fifth meeting for 2018 under the chairmanship of HE Dr. Mohammed bin Saleh Al Sada, Minister of Energy and Industry. The Board discussed the financial performance of the Company for the nine month period ended 30 September 2018 and approved the financial statements for the period reviewed By external auditor Ernst & Young. The financial statements showed that the company's sales amounted to QR 2,016 million compared to QR 2,364 million for the same period last year. In 2017. The financial statements also showed net profit of QR 1,156 million (excluding minority interests) compared to QR 1,311 million for the same period in 2017. Earnings per share amounted to QR 10.51 per share compared to SR 11.92 For the same period in 2017. The Board was briefed on the progress of the Company's projects under construction, including the Lusail Tower project, which has commenced its preparatory work. The Council also briefed the Board on the development of Siraj Power Company, which was established in partnership with Qatar Petroleum for the purpose of setting up solar power plants. The Council also discussed the external projects being undertaken by Nebras Energy Company. The Board expressed its satisfaction with the company's results and praised the company's efforts in implementing its new projects and future plans.