Olad Ali Al-Ghanim for Cars Reports 10.26 Million KD in Profits
Al-Othaim Al-Ghanim Motors Company announced net profits attributable to shareholders of the parent company of KD 10.258 million during the first half of 2026, with basic earnings per share attributable to the parent company’s shareholders standing at 26.01 fils per share. Total revenues reached KD 108.50 million during the period, supported by strong performance from several key brands, alongside continued growth in after-sales services. Total assets amounted to KD 276.61 million, while shareholders’ equity attributable to the parent company’s shareholders stood at KD 102.26 million.
The company recorded solid operational levels during the first half, despite the geopolitical challenges and shifts the region experienced over the past period. The Board of Directors has decided to distribute a semi-annual cash dividend to shareholders for the financial period ending June 30, 2026, at a rate of 24.48% of the par value of the share, equivalent to 24.48 fils per share.
**Distinctive Performance Amid Regional Challenges**
In this regard, Eng. Fahad Al-Ghanim, Chairman of the Board of Directors of Al-Othaim Al-Ghanim Motors Company, stated: “The first-half data reflect the company’s ability to continue delivering strong results and maintaining a steady pace of operations, while simultaneously continuing to develop its services and expand its presence in several regional markets.”
He added: “Despite the geopolitical developments and challenges the region faced during the past period, the company has demonstrated high operational resilience and the ability to maintain distinctive performance levels, supported by its diversified business portfolio, strong partnerships, and regional footprint.”
Al-Ghanim noted that the company’s regional expansions are increasingly reflecting positively on business results, whether through the growing contribution of its operations in Iraq and Egypt, or by adding new brands and services that support income diversification and enhance long-term business resilience.
He clarified: “As part of our continued business diversification, we launched our luxury motorcycle business through BMW Motorrad in Kuwait, a step that strengthens our presence in the mobility sector and expands the portfolio of global brands we represent. This is accompanied by delivering a comprehensive experience to our customers in line with the highest global BMW standards, alongside after-sales services, certified technicians, and genuine spare parts.”
He continued: “During the current phase, we continue to focus on developing the customer experience, enhancing service efficiency, and strengthening operational infrastructure readiness, alongside investing in digital solutions and expanding our operational capabilities to keep pace with the rapid developments in the automotive sector.”
**Operational Efficiency and Continuous Growth**
For his part, Yusuf Abdullah Al-Qutami, Vice Chairman and Chief Executive Officer of the company, said: “The company recorded a balanced performance across various activities during the first half, supported by the continued momentum in after-sales services, which contributed to revenue diversification and enhanced profitability levels.”
He added: “Improvements in inventory management and higher levels of readiness and operational efficiency have strengthened the flow of operations across various business segments, positively impacting service quality and contributing to closer customer relationships and reinforcing their trust in the network and services provided by the company.”
Al-Qutami pointed out that the company continues to develop its showroom network and service centers, expand its operational capabilities in key markets, and invest in technological systems and human resource training, all of which enhance service quality and raise customer satisfaction levels.
He concluded his statement: “We enter the second half of 2026 with confidence, backed by clear plans to continue growth and strengthen the company’s position in the markets where we operate, despite the ongoing regional challenges.”
