Muscat: Nama Group conducted its Annual Press Conference 2020 on 11th May 2021 to present its financial and operational results, in addition to highlighting the progress made on its key strategic project.
Ghada Mohammed Al Yousef, Executive Manager, Group Communication and Sustainability, presented Nama Group’s financial and operational performance, achievements, and major projects with the presence of Eng. Omar Al Wahaibi, CEO of Nama Group, and participation of CEOs of Nama Group subsidiaries to answer the press inquiries. The virtual event was also attended by media representatives and social media bloggers.
The Conference presented the key changes to the governance structure of the Group, which was followed by a presentation on the Group’s consolidated financial results and operational results for HSE, Customer Service, and Human Resources, followed by an update on key strategic projects.
In spite of the economic and operational challenges witness in 2020, the Group continued to grow its customer base reaching 1,316,822 customers, which is a 3.1% increase from 2019. Al Yousef said: “Due to the disruption of businesses and overall impact of the pandemic, the electricity supply sales decreased by 1.9% to 33,156 GWh compared with 33,796 GWh in 2019.” However, the Group continued to invest in transmission and distribution fields in 2020 to expand the network and ensure its reliability, which reached 99.9992%.
In terms of financial performance, Nama Group witnessed an increase in the Group revenue by 4.77% reaching RO 1.31 billion in 2020. Also, Profit After Tax increased by 12.29% to RO 67.82 million in 2020. Ghada stated that the electricity subsidy revenue for 2020 reduced to RO 615 million, which is a decrease of 1.5% compared to 2019. In addition, the Group’s total assets reached RO 6.75 billion.
Al Yousef added: “All these achievements would not have been accomplished without the efforts of Nama Group employees. The Group depends on the capabilities of the Omani talents in its entire value chain.” The Group recorded an increase to 95.7% Omanisation of its workforce.
Company Profile :
Nama Group (NG) was established as a result of restructuring the electricity and related water sector in 2004 and commenced its commercial operations on 1 May 2005. NG’s operations are spread across generation, procurement, transmission, distribution, and supply of electricity and related water services in the Sultanate.
The Group consists of 12 joint-stock companies and 2 limited liability companies registered in the Sultanate of Oman, including Nama Holding (NH), Al Ghubrah Power and Desalination Company (GPDC), Wadj Al Jizzi Power Company (WJPC), Oman Power and Water Procurement Company (OPWP), Oman Electricity Transmission Company (OETC), Muscat Electricity Distribution Company (MEDC), Mazoon Electricity Company (MZEC), Majan Electricity Company (MJEC), Rural Areas Electricity Company (Tanweer), Dhofar Power Company (DPC), Oman Water and Wastewater Services Company (OWWSC), Numo Institute for Competency Development (NICD), and Nama Shared Services Company (NSS).
For more information, please visit the Nama Group website: www.nama.om.
