Ali Al-Ghanim for Cars: 18.77 Million Dinars in Net Profit

Ould Ali Al-Ghanim Automobiles Company announced net profits attributable to shareholders of the parent company amounting to 18,773,276 Kuwaiti dinars for the nine months ended September 30, 2026, with basic earnings per share attributable to shareholders of the parent company reaching 47.70 fils per share. Total revenues for the company during the period stood at 191,738,777 dinars, supported by the performance of its core activities and contributions from after-sales services and other operational activities. Total assets amounted to 265,553,230 dinars, while shareholders’ equity attributable to the parent company reached 100,540,884 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 the region has witnessed since the beginning of the year.

Commenting on these results, Fahd Ali Al-Ghanim, Chairman of the Board of Directors of Ould Ali Al-Ghanim Automobiles Company, said: “The results for the nine months ended September 30, 2026 reflect the company’s ability to continue its operations and adapt flexibly to the market changes experienced this year, relying on the strength of its business model, the diversification of its activities, and its strategic partnerships with major global brands.”

He added: “Despite geopolitical challenges and the associated 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, driven by improved sales performance. We also continued working to strengthen our operational readiness and enhance 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 customer base and capitalizing on growth opportunities in the markets where it operates.

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

On his part, Youssef Abdullah Al-Qatami, Vice Chairman and Chief Executive Officer of the company, said: “During the first nine months of the year, we continued to focus on improving operational efficiency and enhancing supply chain resilience by developing shipping routes and diversifying logistics options, helping to ensure the regular delivery of vehicles and spare parts and improving our ability to meet demand in key markets.”

He added: “The measures we took helped address challenges related to shipment delays, improve inventory management, and enhance operational readiness, enabling us to respond more efficiently to market needs and strengthen the regularity of deliveries to customers.”

Al-Qatami clarified that the diversification of the company’s activities is one of the key factors supporting its operational performance, highlighting the importance of after-sales services and used car sales in boosting revenue streams, alongside new car sales and other activities.

He pointed out that the company continues to develop its showroom network and service centers, invest in technological systems, and train human resources, contributing to improved service quality, higher customer satisfaction, and enhanced operational efficiency.

Al-Qatami concluded his statement by saying, “We will continue to work 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.” In line with the company’s commitment to human capital development, Engineer Fahad Ali Al-Ghanem emphasized the ongoing investment in employee skill development and professional capacity building through training and development programs, as well as fostering a motivating work environment that supports innovation and equal opportunity, thereby preparing the necessary talent to keep pace with the company’s evolving business. He added that the company continues to support community initiatives focused on education, training, and youth empowerment, driven by its dedication to contributing to community development and reinforcing its role as a socially responsible corporation. 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.