Olaad Ali Al-Ghanim Cars Achieves 18.77 Million KD Net Profit in 9 Months

Ola Ali Al-Ghanim Automobiles Company announced net profits attributable to shareholders of the parent company amounting to 18.77 million Kuwaiti dinars during the nine months ended September 30, 2026, while basic earnings per share attributable to shareholders of the parent company stood at 47.70 fils per share.

Total revenues for the company reached 191.73 million dinars during the period, supported by the performance of its core activities and contributions from after-sales services and other operational activities. Total assets amounted to 265.5 million dinars, while equity attributable to shareholders of the parent company reached 100.54 million dinars.

The company continued to implement its operational and strategic plans during the first nine months of 2026, focusing on enhancing operational efficiency, improving supply chains, and developing services, amid the changes and challenges witnessed in the region since the beginning of the year.

Operational Flexibility and Business Expansion

In this regard, Eng. Fahad Ali Al-Ghanim, Chairman of the Board of Directors of Ola Ali Al-Ghanim Automobiles Company, stated: “The results for the nine months ended September 30, 2026, reflect the company’s ability to continue its operations and respond flexibly to the changes witnessed in markets this year, relying on the strength of its business model, the diversity of its activities, and its strategic partnerships with major global brands.”

He added: “Despite geopolitical challenges and the accompanying disruptions in trade and supply chains, we achieved record profits in the third quarter of 2026, with a 10% growth compared to the same period last year, supported by improved sales performance. We also continued working to enhance our operational readiness and develop our capabilities to ensure business continuity and meet our customers’ needs, while maintaining our focus on long-term strategic objectives.”

Al-Ghanim noted that the company continues to strengthen its regional presence, leveraging the diversity of its operations in Kuwait, Iraq, and Egypt, which supports expanding its business base and capitalizing on growth opportunities in the markets it operates in.

He continued: “We continue to invest in developing the customer experience and enhancing service quality, alongside deploying digital solutions and strengthening our operational capabilities, keeping pace with the rapid transformations in the automotive sector and supporting our competitive position.”

Operational Efficiency and Supply Chain Enhancement

For his part, Yusuf Abdullah Al-Qutami, Vice Chairman and Chief Executive Officer of the company, said: “During the first nine months of the year, we continued to focus on raising operational efficiency and enhancing supply chain flexibility by developing shipping routes and diversifying logistical options, which helps ensure the regular arrival of vehicles and spare parts and improves our ability to meet demand in key markets.”

He added: “The measures we took contributed to addressing challenges related to shipment delays, improving inventory management, and enhancing operational readiness, enabling us to handle market needs more efficiently and strengthen the regularity of deliveries to customers.”

Al-Qutami clarified that the diversity of the company’s activities represents one of the supporting elements of its operational performance, highlighting the importance of after-sales services and used car sales in boosting revenue, alongside new car sales and other activities.

He noted that the company continues to develop its showroom network and service centers, and invest in technical systems and human resource training, which contributes to improving service quality, raising customer satisfaction levels, and enhancing operational efficiency.

Al-Qutami concluded his statement by saying: “We will continue our efforts during the remaining period of 2026 to enhance the efficiency of our operations and leverage the operational improvements we have implemented, while maintaining our readiness to address changes and capitalize on growth opportunities in the markets where we operate.

Human Capital Development and Commitment to Governance and Social Responsibility

In line with the company’s commitment to human capital development, Eng. Fahad Ali Al-Ghanem emphasized the ongoing investment in developing employees’ skills and enhancing their professional capabilities through training and development programs, and by fostering a motivating work environment that supports innovation and equal opportunity, thereby contributing to preparing the necessary talent to keep pace with the company’s evolving operations.

He added that the company continues to support community initiatives focused on education, training, and youth empowerment, reflecting its dedication to contributing to community development and reinforcing its role as a socially responsible company.

Al-Ghanem also highlighted the company’s continued commitment to environmental, social, and governance (ESG) principles, and its efforts to integrate them into its operational practices and long-term strategy, thereby supporting business sustainability and enhancing its responsibility toward society and the environment.”