Annual Report 2024

Al Meera Annual Report | 2024

About us

Founded in 2005, Al Meera Consumer Goods Company (Q.P.S.C.) is Qatar's leading retailer, committed to delivering high-quality products at great value while ensuring a seamless shopping experience for customers. With a strong presence across the country, Al Meera continues to expand its network with over 70 hypermarkets, supermarkets, and convenience stores, reinforcing its position as the most accessible and trusted neighborhood retailer in Qatar. Recent store openings and renovations reflect Al Meera's dedication to modernization, enhancing store layouts and integrating digital innovations to elevate customer convenience.

Staying true to its promise of excellence, Al Meera upholds the highest standards in quality, food safety, and service, offering a carefully curated selection of fresh, locally sourced, and imported products at competitive prices. The company plays a pivotal role in supporting Qatar's food security strategy, actively promoting local suppliers and expanding its exclusive private-label brand, 'Al Meera Products.' At the same time, Al Meera remains at the forefront of digital transformation, continuously enhancing its online platform, Meera Rewards mobile app, and in-store technology to provide an optimized and efficient shopping experience.

Beyond retail, Al Meera is deeply engaged in community initiatives and sustainability efforts, introducing environmentally responsible practices such as waste reduction programs, energy-efficient store designs, and reverse vending machines at multiple locations. Through customer engagement initiatives like Meera Rewards and ongoing CSR programs, Al Meera continues to foster meaningful connections with the communities it serves.

With an unwavering commitment to growth, innovation, and sustainability, Al Meera remains focused on delivering excellence at every touchpoint, ensuring it remains the preferred retailer of choice in Qatar and beyond.

Vision

"The trusted retailer of choice,"

Mission

"Serving customers' daily needs conveniently,"

Al Meera Annual Report | 2024

Corporate information and principal activities

Al Meera is listed in the Qatar Stock Exchange with issued capital of 206,000,000 shares at nominal value of QAR 1,00 per share.

The Group is organised into the following three operating segments:

• Retail operations which operates various hypermarkets, supermarkets and convenience stores across the State of Qatar and the Sultanate of Oman.
• Mall management, which comprises leasing of vacant shops and spaces in Al Meera community malls.
• Investment segment, which comprises equity and funds held as investment.

The Group has more than 60 stores operating throughout the State of Qatar and 6 stores in the Sultanate of Oman with consolidated net selling area of more than 100,000 sqm.

Al Meera Annual Report | 2024

BOARD OF DIRECTORS

Al Meera Consumer Goods Company Q.P.S.C.

H.E. Abdulla Abdulaziz Abdullah Turki Al-Subaie

Chairman of the Board of Directors

Mr. Ali Hilal Ali Omran

Al- Kuwari

Vice-Chairman of the Board of Directors

Prof. Dr. Khalid Ibrahim Al- Sulaiti

Member of the Board of Directors

H.E. Sheikh/ Fahad bin Falah bin Jassim Al Thani

Member of the Board of Directors

Mr. Ahmed Abdullah Mohammed Al-Khulaifi

Member of the Board of Directors

Mr. Mohammad Abdulla Al Mustafawi Al Hashemi

Member of the Board of Directors

Mr. Hetmi Ali Khalifa Al Hitmi

Member of the Board of Directors

CHAIRMAN'S MESSAGE

Al Meera Annual Report | 2024

H,E, Abdulla Abdulaziz Abdullah Turki Al-Subaie Chairman of the Board of Directors

In the Name of Allah, Most Gracious, Most Merciful

Dear Shareholders,

On behalf of myself and my esteemed colleagues on the Board of Directors, I am pleased to present to you this annual report, which reviews the performance of Al Meera Consumer Goods Company for the year 2024. The company has achieved excellent financial results, along with significant successes in many strategic areas.

Despite the challenges faced by the markets, Al Meera managed to maintain its leading position and once again demonstrated the strength of its financial performance and its ability to adapt to changing circumstances. We recorded financial results across various sectors, with total sales amounting to QAR 2.81 billion, net profits reaching QAR 560.3 million, and earnings of QAR 0.89 per share. These positive financial indicators reflect our commitment to providing added value to our shareholders and customers.

In line with our continuous ambition to expand the horizons of innovation as a key driver of sustainable growth, we have made significant progress in this direction through a long-term strategy and our ambitious journey toward comprehensive digital transformation.

Over the past year, Al Meera strengthened its position as a leader in advanced retail, continuing to adopt a sustainable innovation strategy with a focus on digital transformation, a focus that led to significant advancements in 2024.Following the opening Al Meera Smart, a fully automated, check-out free branch in 2023, the first of its kind in Qatar and the region, we continued to advance our digital retail offering with the launch of smart shopping carts in January 2024, the first in Qatar, further enhancing the in-store experience and reinforcing our commitment to delivering innovative and seamless shopping solutions for our customers.

In the field of sustainability, Al Meera expanded its environmental efforts by continuing its recycling machines initiative, distributing reusable bags, leading beach clean ups, and launching awareness campaigns in partnership with strategic local partners .

As part of our ongoing expansion strategy and steadfast commitment to delivering an enhanced customer experience, we proudly inaugurated our flagship branch in Ain Khaled/Umm Al Seneem, one of the largest branches in the history of Al Meera offering over 5500 square meters of state-of-the- art shopping experience for our valuable customers in addition to a range of retail outlets to serve the community. This new branch is a significant milestone in the continued growth of our retail network and a reflection of our dedication to providing greater accessibility and convenience to the communities we serve. The year 2024 also saw the commencement of construction for another modern branch in Al Mansoura, which will replace the previous location.

The new branch is scheduled for completion in the first quarter of 2024 and will further enhance our footprint in key urban areas. In parallel, we initiated comprehensive renovation works across six existing branches, including a full-scale renovation of our Hazm Al Markhiya branch, successfully completed in the third quarter of 2024. These upgrades are part of our broader effort to modernize facilities and enhance the overall shopping environment. The remaining renovations are on track for completion by Q1-Q2 2025, reaffirming our commitment to providing a refreshed, consistent, and seamless shopping experience across all Al Meera locations.

The achievements presented in this report for Al Meera in 2024 are the result of the continuous support of the wise leadership of His Highness the Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani, may Allah protect him.

On behalf of the Board of Directors and all the employees of Al Meera, I am honored to extend my deepest gratitude and appreciation to His Highness for his wise directives that have led the State of Qatar to prosperity and progress, as well as to His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, the Prime Minister and Minister of Foreign Affairs, for his continuous support and care.

In conclusion, I would like to express my sincere thanks and appreciation to our esteemed employees, whose efforts form the foundation of our success and progress, and to our valued shareholders, whose trust and continuous support remain a guiding light for all our endeavors, illuminating our path toward further progress and growth.

Together, we will continue, with Allah's help, to advance along the path of excellence, achieving our strategic objectives and even greater achievements.

Thank you,

Abdulla Abdulaziz Abdullah Turki Al-Subaie Chairman of the Board of Directors

BOARD OF DIRECTORS REPORT 2024

Al Meera Annual Report | 2024

In 2024, Al Meera continued to demonstrate strong performance as a leading national retailer, marked by strategic development and operational growth. This progress is clearly reflected in its strong financial results, including consolidated sales totalling QAR 2,81 billion, a gross profit of QAR 560,3 million (representing a 2.1% increase over 2023), and rental income of QAR 79,0 million. The net profit attributable to shareholders reached QAR 183,4 million, culminating in earnings per share of QAR 0,89.

During the reporting period, Al Meera also achieved other significant milestones, strengthening its market presence both online and offline. Al Meera Online and its home delivery service contributed 5-6% of total sales, reflecting year-on-year growth. On the ground, the company launched its new flagship branch in Ain Khaled/Umm Al Seneem, introducing an innovative retail concept that enhances the Al Meera shopping experience. By the time of this report's release, Al Meera will have also opened two new branches: a state-of-the-art branch in Mansoura aimed at elevating the shopping experience, and another new location in Al Thumama.

As part of its digital transformation, Al Meera introduced smart shopping carts, the first of their kind in Qatar. These carts, which allow customers to log in, scan items, and complete purchases seamlessly, were a major highlight at ConteQ Expo 2024, where Al Meera demonstrated how artificial intelligence is transforming the shopping experience. This comes after the opening of the first fully autonomous checkout free store in Qatar and the region, Al Meera Smart in 2023

Also on the digital end, Al Meera further integrated the SAP system into its operations, building upon the strategic partnership established with the global technology leader in 2023. This collaboration targets modernizing Al Meera's branches and services with advanced cloud solutions, directly contributing to its operational excellence and expansion plans and enhancing the experience for both customers and employees.

Furthermore, Al Meera continued to elevate the Meera Rewards program, designed to recognize and reward customer loyalty with valuable points, exclusive offers, and exceptional prizes. Notable initiatives included "30 Cars in 30 Days" campaign and the 2024 National Day campaign, which offered special promotions and prizes totaling 18 million reward points.

Alongside its continued geographic expansion in 2024, the company launched a renovation program covering six locations. Notably, the Hazm Al Markhiya branch was successfully revamped and reopened in the third quarter, showcasing a modern design, upgraded facilities, and an overall improved customer environment. The renovation of the remaining five branches is in progress and due for completion in the first and second quarters of 2025.

This year, Al Meera continued to prioritize and implement food safety and sustainability initiatives in line with its long-term strategy. Its Warehousing and Distribution Center achieved the prestigious ISO 22000:2018 Food Safety Management System certification from BSI, validating adherence to the highest global standards and bolstering its integrated management system (including ISO 9001:2015 for Quality Management, ISO 14001:2015 for Environmental Management, and ISO 45001:2018 for Occupational Health and Safety). In addition, Al Meera partnered with Earthna Center for a Sustainable Future, actively engaging employees and customers in environmental awareness campaigns and reinforcing its commitment to community-led sustainability.

Alongside its focus on innovation and sustainability, Al Meera remains firmly committed to supporting local industries. This year's National Product Week brought together suppliers, businesses, and customers in a celebration of Qatari-made products, driving strong engagement across its store network. Through targeted in-store promotions and marketing efforts, Al Meera reaffirmed its dedication to offering locally sourced goods while contributing to the development of Qatar's retail sector.

Looking towards the future, Al Meera's strategy remains centered on enhancing the customer experience by improving service, digitizing platforms, expanding self-checkout, and upgrading store aesthetics. Operationally, the focus will be on increasing efficiency and cost-effectiveness through technological advancements and streamlined processes to ensure operational excellence and deliver superior customer value.

The Board acknowledges the continued support of shareholders and strategic partners, as well as the dedication of Al Meera's employees and their tireless efforts in leading, implementing, and successfully executing the company's mission, vision, and strategic plans, which are vital to achieving the goals and aspirations of its valued shareholders and customers.