Gross revenues reach US$ 357mn at end of 2021
GWC recently announced its financial results for the financial year ending 31 December 2021 achieving net profits of QAR 225mn (US$ 61.8mn), with gross revenues reaching QAR 1.3bn (US$ 357mn) at the end of 2021.
“I take this opportunity to extend my gratitude to all our stakeholders and partners, who continue to trust and encourage us to exceed their expectations. We have a lot to look forward to this year and we will endeavour to build on our achievements,” stated Sheikh Abdulla Bin Fahad Bin Jassem Bin Jabor Al Thani, Chairman, GWC.
Sustainable Growth
GWC established Qatar’s first logistics hub in Ras Bufontas Free Zone. This Regional Logistics Hub offers freight, customs clearance, acclimatized storage, transportation, and the company’s advanced IT infrastructure, among other services. The hub features two warehouses, which offer unmatched logistical and last mile delivery options to the aviation, pharmaceutical and events industries including the FIFA World Cup Qatar 2022.
The Hub is also home to UPS Customer Center. Over the last 18 months, GWC has underlined its critical role in the nation’s medical cold supply chain, ensuring the safe delivery of the Covid-19 vaccine from airport to vaccination centers, as the Authorized Service Contractor for UPS in the State of Qatar.
At the forefront of innovation
Continuing its commitment to find innovative solutions while maintaining the highest environmental standards, GWC signed an agreement with Gaussin, a pioneer of clean and smart freight transport, and Gam Qatar to test Gaussin’s zero-emission electric tractors and yard automation solutions in several GWC logistics hubs, including GWC Al Wukair Logistic Park.
Building a business ecosystem
GWC is mindful of its responsibility as a leading logistics provider in Qatar and the Middle East region and the role this sector plays in the growth of a nation. For this very reason, GWC put together the “Getting you in the Game Forum” which provided a platform for experts from various verticals to discuss complex logistical issues behind mega-events, such as global sporting competitions, in addition to discussing regional trends and developments.
This first-of-its-kind hybrid forum threw light on the behind-the-scenes work that goes into organising mega events while keeping sustainability and the long-term impact in mind.
2021 also saw GWC signing a MoU with The College of Science and Engineering (CSE) at Hamad Bin Khalifa University (HBKU) to encourage research in the fields of engineering, technology, and sciences with a special emphasis on logistics and supply chain management, with the aim to boost industry performance and identify mutually beneficial new opportunities and ideas.
Another area of focus for GWC has been to support MSMEs as it firmly believes that they are the backbone of any economy and are essential for the growth of Qatar.
“The GWC Al Wukair Logistics Park is one of the flagship developments of GWC, it is a one-stop-shop for entrepreneurs, with a very strong focus on providing micro, small and medium scale Enterprises (MSMEs) with access to logistics and light industry infrastructure needed for their growth and success. In addition, GWC will be taking care of all the regulatory as well as infrastructure and supply chain needs,” remarked Ranjeev Menon, Group CEO, GWC.
Due to its central location, close proximity to the airport and the port, coupled with seamless offering of logistics services, it will be the main distribution hub for handling the logistics mandate for the FIFA World Cup Qatar 2022TM.
The Road Ahead
GWC will be offering a broad spectrum of services ranging from venue logistics, broadcasting and cold chain logistics, to shipping, customs clearance, transport and warehousing, down to logistics operations of merchandise, souvenirs, and food and beverages.
“While the World Cup will be an exhilarating experience; however, after 18 December 2022, we will turn our focus towards the legacy of this tournament,” assured Menon. In addition to this, GWC will continue to support MSMEs through its various initiatives and projects. It will also continue to work towards developing its human capital which will be critical in expanding regionally and internationally, while furthering its quest for innovation, sustainable solutions, and digital transformation.
Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!
