In the first half of 2021, Kuwait’s Equate Group posted a surging revenue.
Revenue skyrocketed by 43% year-on-year to USD2.041 billion. Net income after tax was at USD543 million compared to USD124 million a year ago. Meanwhile, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) hit USD869 million when at the same period a year ago it was at USD409 million.
Going forward, the company sees strong signs of optimism, as the world economy recovers from a challenging period, with a positive impact on prices, and a return to normalcy driven by increased global manufacturing and industrial activities.
