Al-Od Ali Al-Ghanim Cars posts 18.77 million dinars profit in 9 months
Al-Od Ali Al-Ghanim Cars announced net profits of 18.773 million dinars during the first nine months of 2026, with growth in sales and enhanced operational efficiency.
Translated by Qiyas from الراي — Original source
- Fahad Al-Ghanim: The results reflect the resilience of the company’s business model and its ability to navigate regional challenges.
- We achieved record profits in the third quarter, with a 10% growth driven by improved sales.
- We continue to strengthen our presence in regional markets and diversify our activities to support long-term growth.
- Our investments in service development and operational capabilities enhance our competitiveness and align with customer expectations.
- Yousef Al-Qutami: Developing supply routes and improving inventory management contributed to strengthening operational stability.
- After-sales services and used car sales continue to support revenue diversification.
- We focus on improving operational efficiency and enhancing the readiness of our sales and service networks in our key markets.
Al-Od Ali Al-Ghanim Automobiles Company announced that net profit attributable to shareholders of the parent company reached KD 18.773 million during the first nine months ended September 30, 2026, while basic earnings per share attributable to shareholders of the parent company amounted to 47.7 fils per share.
Total revenues for the period reached KD 191.738 million, supported by the performance of its core activities and contributions from after-sales services and other operational activities. Total assets stood at KD 265.553 million, while shareholders’ equity attributable to the parent company amounted to KD 100.54 million.
The company continued implementing 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.
Commenting on this, Engineer Fahad Al-Ghanim, Chairman of the Board of Directors of Al-Od Ali Al-Ghanim Automobiles, said: “The results for the first nine months ended September 30, 2026, reflect the company’s ability to continue its operations and adapt flexibly to the changes experienced in markets 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 resulting 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 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 its diversified operations in Kuwait, Iraq, and Egypt, which supports expanding its business base and capitalizing on growth opportunities in the markets it operates in.
For his part, Yousef Al-Qutami, Vice Chairman and Chief Executive Officer of the company, said: “During the first nine months of the year, we continued focusing 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 to address challenges related to shipment delays, improve inventory management, and enhance operational readiness allowed us to handle market needs more efficiently and strengthen the consistency of deliveries to customers.”
Al-Qutami 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 strengthening the revenue base, alongside new car sales and other activities.
Al-Qutami stated: “We continue to work during the remainder 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, 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 contributing to preparing the necessary competencies 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, reflecting its dedication to contributing to community development and reinforcing its role as a socially responsible company.
