May 15, 2025 – Ramallah, Palestine
Arab Palestinian Investment Company (APIC) disclosed its financial results for the first quarter of 2025. APIC Chairman and CEO Tarek Aggad announced that the company recorded total revenues of USD 292.5 million, reflecting an 18.7% growth compared to the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached USD 12.3 million, and the company achieved an operating profit of USD 10 million. However, APIC reported a net loss of USD 1.34 million in the first quarter of 2025, compared to a net profit of USD 1.22 million for the same period of 2024.
Total assets amounted to USD 905 million, marking a 7% increase to 2024’s year-end. Shareholder equity stood at USD 218.35 million, a 15.7% increase to 2024’s year-end.
Aggad outlined the key factors behind the drop in the company’s net profit in the first quarter 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 114 million by the end of the first quarter 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 1.85 million in Q1 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.
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/