15/05/2019 Doha, Qatar Nebras Power QPSC shareholders approve the financial results for the year 2018 during the 5th Annual General Assembly meeting held at Nebras Power offices in Burj Doha. The meeting was chaired by Nebras Power's Chairman, Mr. Fahad Bin Hamad Al-Mohannadi. Nebras Power's Chief Executive Officer and member of the Board of Directors, Mr. Khalid Mohammed Jolo was among those present. Nebras Power posted in 2018 an Operating profit of QR412mn, up 8% from 2017 (QR383mn). Nebras Power's Comprehensive Income exceeded QR366mn in 2018, up 10% from 2017 (QR333mn), on the back of better operating performance of the asset portfolio, lower fixed costs and improved results from financial management. The Group's total assets stood at QR 6,826 million in 2018, up 12% compared to 2017. The Group's net assets were QR 4,537 million up 9% from 2017. Mr. Fahad Al-Mohannadi, Chairman of the Board, while thanking the Shareholders for their strong and continuous support to the Group, stated: "The steady growth in financial results since the company's inception is the reflection of the quality of our asset portfolio and the sustainability of our business model." Mr. Khalid Jolo, Chief Executive Officer, commented: "The Group is consistently delivering on its strategy and business plan and it has made its mark as a global power company in a short period of time."
