DOHA, QATAR – 21 April 2025: Qatar Electronic Systems Company (Techno Q) Q.P.S.C. successfully held its Ordinary & Extraordinary General Assembly Meeting on Tuesday, 15 April 2025, with a shareholder attendance rate of 87.91%. The meeting was chaired by Mr. Abdul Latif Mohamed Al Jaidah, Chairman of the Board of Directors and convened at the Mondrian Hotel in Doha.
During the session, shareholders approved all points on the agenda's of both meetings, including the ratification of the audited financial statements for the fiscal year ended 31 December 2024 and the distribution of a cash dividend of QAR 0.142 per share, representing 14.20% of the nominal share value, totaling QAR 12 million.
In his opening remarks, the Chairman expressed gratitude to His Highness the Amir, Sheikh Tamim bin Hamad Al Thani, and national leadership for their continued support to the private sector, reaffirming the company's commitment to national development goals.
2024 Performance Overview
The Board of Directors presented a comprehensive report outlining Techno Q's strategic and financial achievements. Despite a cautious market environment and post-World Cup economic contraction in Qatar, Techno Q demonstrated resilience with consolidated revenue of QAR 211.2 million and net profit of QAR 21.4 million, up from QAR 19.7 million in 2023. The Group also achieved a gross profit of QAR 72.7 million, with a 34.4% gross margin, reflecting enhanced operational efficiency.
The company strengthened its financial position through effective cost management and low debt levels, closing the year with QAR 122.5 million in equity and minimal borrowings of just QAR 0.7 million.
Strategic Developments
In response to increasing regional demand, Techno Q:
- Reopened its Oman office to serve infrastructure and technology opportunities,
- Launched a new IT Business Unit focusing on digital transformation, cybersecurity, and enterprise software solutions,
- Received national recognition as 'Best Systems Integrator' by the Ministry of Communications and Information Technology.
These initiatives are in line with Techno Q's long-term vision to expand its footprint in key GCC markets and offer vertically integrated solutions across sectors.
Shareholders ratified also:
- Discharged the Board of Directors from liability for FY 2024.
- Reappointed KPMG as the external auditor for FY 2025, with their fees duly specified.
- Approved the Nominations and Remuneration Policy, reinforcing the Company's governance framework.
Looking Ahead
Commenting on the year ahead, Mr. Zeyad Al Jaidah, Managing Director and Co-Founder stated:
'We are focused on scaling our core capabilities while entering high-impact domains such as managed IT services and digital security. Our market positioning, strong financial health, and innovation-driven mindset will drive Techno Q's next growth chapter across Qatar, Oman, and Saudi Arabia.'
During the Extraordinary General Assembly meeting, the amendment to the Company's Articles of Association was approved to include seven (7) additional commercial activities. Furthermore, the Chairman of the Board and his Deputy were authorized to take the necessary actions to implement this resolution.
The meeting concluded with appreciation to shareholders, partners, and employees for their trust and commitment to the Company's strategic journey.
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