August 14, 2025 – Ramallah, Palestine
Arab Palestinian Investment Company (APIC) disclosed its financial results for the first half of 2025. APIC Chairman and CEO Tarek Aggad announced that the company recorded total revenues of USD 599.6 million, reflecting an 16% growth compared to the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached around USD 27 million, and the company achieved an operating profit of USD 20.2 million. However, APIC reported a net loss of USD 1.23 million in the first half of 2025, compared to a net profit of USD 1.6 million for the same period of 2024.
Total assets amounted to USD 959.8 million, marking a 13.6% increase to 2024’s year-end. Shareholders’ equity stood at USD 226.8 million, a 20.2% increase to 2024’s year-end.
Aggad outlined the key factors behind the drop in the company’s net profit in the first half of 2025 compared to the same period last year. He emphasized that the ongoing devastating war on Gaza, the escalation of Israeli attacks in the West Bank, and the deep economic recession resulting from Israel’s withholding of Palestinian Authority funds—which has led to the PA’s inability to fully pay its employees or meet its financial obligations to the private sector—have significantly impacted the performance of APIC’s subsidiaries. Aggad added that the Palestinian Authority’s direct and indirect debt to APIC subsidiaries reached around USD 136 million by the end of the first half of 2025.
Aggad went on to add that the continued classification of Turkey as a hyperinflationary country led to ongoing non-cash losses amounting to USD 3 million in the first half of 2025 due to the application of International Accounting Standard No. 29. He also noted that inflation negatively impacted the operational performance of Polonez, Siniora’s subsidiary in Turkey.
Aggad also highlighted several positive milestones achieved by APIC in the first half of the year. The company’s secondary public offering to shareholders exceeded all expectations, with subscriptions reaching 180%, surpassing the targeted capital of USD 30 million to reach USD 54.3 Million. This remarkable turnout underscores shareholders’ strong confidence in APIC and its ability to remain resilient in times of crisis.
In addition, APIC issued USD 120 million in bonds, attracting nine leading financial institutions, including the Arab Bank, Cairo Amman Bank, Quds Bank, Bank of Palestine, Bank of Jordan, Jordan Ahli Bank, the Housing Bank for Trade and Finance, the Palestine Deposit Insurance Company and the International Finance Corporation (IFC), a member of the World Bank Group. The value of subscriptions surpassed the nominal USD 110 million, reaching USD 126.144 million, accordingly, an increase in the option to USD 120 million was implemented. Aggad stressed that such overwhelming demand for APIC bonds is a clear testament of investors’ trust in APIC Group and affirms its robust operational performance particularly amidst the current challenges in Palestine and the region, most notably the severe and ongoing humanitarian and economic crisis in Palestine, which has weighed heavily on the performance of Palestinian companies.
APIC also distributed 5 million shares as stock dividends to its shareholders, that represents approximately 3.22% of APIC’s paid-in capital, which amounted to USD 155 million then. Following this distribution, APIC’s paid-in capital became equal to its authorized capital of USD 160 million.
About APIC
APIC is a public shareholding investment company listed on the Palestine Exchange (PEX: APIC). It holds diversified investments across the manufacturing, trade, distribution and service sectors in Palestine, Jordan, Saudi Arabia, the United Arab Emirates, Iraq and Turkey through its group of subsidiaries: Siniora Food Industries Company; Unipal General Trading Company; Palestine Automobile Company; Medical Supplies and Services Company; National Aluminum and Profiles Company (NAPCO); Reema Hygienic Paper Company; Sky Advertising and Promotion Company; Arab Leasing Company and Arab Palestinian Storage and Cooling Company, employing over 3,400 staff through its group of subsidiaries. For more information, visit https://apic.ps/