Olaad Ali Al-Ghanim Cars Company Reports Net Profit of 10.26 Million Kuwaiti Dinars - Sarmad
• The company distributed cash dividends amounting to 24.48% of the par value per share for the first half of 2026
• Fahad Ali Al-Ghanim: The first-half results reflect the resilience of the company’s business model and its ability to sustain outstanding performance despite regional challenges and changes
• Our regional expansions are increasingly reflected in diversifying revenue streams and enhancing operational performance
• We launched our luxury motorcycle business through BMW Motorrad, complete with after-sales services and original spare parts
• Yousef Abdullah Al-Qutami: The first half witnessed balanced performance across various activities, supported by the continued momentum of after-sales services
• Improved inventory management efficiency has translated into enhanced service quality, closer customer relationships, and strengthened trust
• We continue to develop our showroom network and services while raising operational readiness in key markets
Al-Od Ali Al-Ghanim Automobiles Company announced net profits attributable to shareholders of the parent company amounting to KD 10,258,033 during the first half of 2026, with basic earnings per share attributable to shareholders of the parent company reaching 26.01 fils per share.
Total revenues for the company reached KD 108,507,623 during the period, supported by strong performance from several key brands, alongside continued growth in after-sales services. Total assets stood at KD 276,610,190, while shareholders’ equity attributable to shareholders of the parent company amounted to KD 102,262,816.
The company recorded solid operational levels during the first half, despite the geopolitical challenges and changes the region experienced over the past period.
The Board of Directors decided to distribute semi-annual cash dividends to shareholders for the financial period ending on June 30, 2026, at a rate of 24.48% of the par value per share, equivalent to 24.48 fils per share.
Outstanding Performance Despite Regional Challenges
On this occasion, Fahad Ali Al-Ghanim, Chairman of the Board of Directors of Al-Od Ali Al-Ghanim Automobiles Company, stated: “The first-half data reflect the company’s ability to continue delivering strong results and maintaining a stable business pace, while simultaneously continuing to develop its services and expand its presence in several regional markets.” He added: “Despite geopolitical developments and challenges the region has faced recently, the company has demonstrated high operational resilience and the ability to maintain outstanding performance levels, supported by its diversified business, 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 revenue diversification and enhance long-term business resilience.
He further stated: “As part of our continued business diversification, we launched our luxury motorcycle business through BMW Motorrad in Kuwait, a move that strengthens our presence in the mobility sector and expands the portfolio of global brands we represent. We offer our customers a comprehensive experience in line with BMW’s highest global standards, alongside after-sales services, certified technicians, and original spare parts.”
He continued: “We are currently focusing on developing the customer experience, improving service efficiency, and enhancing 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 Qatami, Vice Chairman and Chief Executive Officer of the company, said: “The company recorded a balanced performance during the first half across various activities, supported by sustained momentum in after-sales services, which contributed to revenue diversification and enhanced profitability levels.”
He added: “Improvements in inventory management, along with higher readiness and operational efficiency, have strengthened the flow of operations across different business segments, positively reflecting on the quality of services provided. This has also helped bring the company closer to its customers and reinforced their trust in the company’s network and services.”
Al Qatami noted that the company continues to develop its showroom network and service centers, expanding its operational capabilities in key markets, alongside investing in technological systems and human resource training to enhance service quality and raise customer satisfaction levels.
Concluding his remarks, Al Qatami stated: “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 ongoing regional challenges.”
Developing National Competencies and Commitment to Governance and Social Responsibility
Engineer Fahad Ali Al Ghanim said: “At Ould Ali Al Ghanim Motors, we place central importance on developing human capital, driven by our belief that our workforce represents the fundamental pillar for sustaining growth and enhancing the company’s competitiveness. We continue to invest in developing our employees’ skills and creating an empowering, innovative, and equitable work environment.”
He continued: “We also strive to strengthen our role in social responsibility by launching and supporting diverse community initiatives that contribute to serving the local community, particularly in the fields of education, training, and youth empowerment, reflecting our commitment to acting as a socially responsible company.”
Al Ghanim highlighted that the company continues to reinforce its commitment to Environmental, Social, and Governance (ESG) principles by integrating these principles into its operational strategy and daily processes, ensuring a balance between economic growth and responsibility toward society and the environment, thereby enhancing the long-term sustainability of its operations.
