On behalf of our leadership team and dedicated employees, I am pleased to present to you MEEZA’s operational and financial performance for the year 2024.

A New Chapter: Leading MEEZA into the Future
Having joined MEEZA in May 2024, it is an honor to address our shareholders, partners, and employees as CEO. I am privileged to lead a company that has already established itself as the premier IT services and Data Centre provider in Qatar. As we build upon this strong foundation, my commitment is to drive MEEZA forward into its current phase of growth, innovation, and operational excellence.

A Year of Expansion and Transformation
2024 was a critical year for MEEZA, as we successfully executed our growth strategy across multiple fronts. We achieved nearly full utilization of our existing Data Centre capacity after signing a landmark 1-Megawatt Data Centre contract and secured the award and financing for an additional 4-Megawatt capacity under a long-term contract. This milestone reinforces MEEZA’s position as the leading Data Centre provider in Qatar, setting the foundation for our next phase of expansion with additional state- of-the-art Data Centre facilities currently in different phases of design.

Beyond infrastructure growth, we launched MEEZA. AI, our flagship artificial intelligence platform, accelerating the adoption of AI-driven business solutions in Qatar and the region. This strategic move places MEEZA at the forefront of AI and cloud computing services, ensuring that our clients — from government entities to large enterprises — have access to cutting-edge digital transformation capabilities.

Financial Performance: Strengthening Profitability and Growth
MEEZA delivered solid financial results in 2024, reflecting the strength of our business model and our focus on high-margin service segments. The Company reported a net profit of QR 60.4 million, with an EPS of QR 0.09.
Despite a reduction in total revenue due to lower contributions from Solutions services, we saw a 7.3% growth in revenue from our core offerings, driven by an 8.1% increase in Data Centre services and an 11.8% rise in Managed Services. Our profitability was further supported by an improved net profit margin of 16.1%, reflecting disciplined cost management and an optimized revenue mix.

With a strong cash position of QR 278.8 million and future contract commitments exceeding QR 1.6 billion, MEEZA remains well-capitalized to fund its expansion and drive long-term value for stakeholders.

Market Leadership and Strong Client Demand
Throughout the year, we continued to strengthen our market positioning, expanding not only our Data Centre segment but also our Managed Services revenue streams. Our participation in key global events, including the Web Summit and World AI Summit, reinforced our role as a technology leader and strategic data partner in the region. Additionally, we renewed our Cisco Gold and Google Premier partnerships, among others, ensuring that our ecosystem remains at the highest level of industry standards.

Operationally, we enhanced our cybersecurity and managed services portfolio, securing new Security Operations Center (SOC) customers and driving strong year-on-year growth in these high-margin segments. Our ability to provide comprehensive, SLA-bound IT services continues to attract tier-1 clients, reinforcing MEEZA’s position as a preferred IT outsourcing and infrastructure partner.

Commitment to Excellence: Certifications and Standards
In 2024, we further solidified our reputation for too scrunched together certifications, including ISO 27701 (Privacy Management) and ISO 27017 (Cloud Security). We also renewed the existing international ISO certificates such as ISO 9001 (Quality Management), ISO 27001 (Information Security Management), ISO 20000-1 (IT Service Management), ISO 14001 (Environmental Management), PCI-DSS compliance and SOC 2 Type 2 for our Data Centres, positioning MEEZA as a trusted partner in secure and compliant digital solutions.

Investing in People and Sustainability
At MEEZA, our human capital is at the core of our success. The MEEZA Academy delivered nine training sessions in 2024, equipping high-performing trainees with the skills needed to thrive in the ICT industry. Our partnerships with leading global technology firms—including VMware, Cisco, Oracle, and Huawei—enabled us to offer world-class training, internships, and full-time employment opportunities to promising talent.

We also strengthened our corporate social initiatives through collaborations with the Ministry of Labour and Qatar Career Development Center, providing job shadowing opportunities and career development programs. Furthermore, we maintained our ISO 45001 certification for health and safety, reflecting our commitment to a safe and productive work environment.

Looking Ahead
With Data Centre demand in Qatar exceeding supply, MEEZA is committed to aggressively scaling its infrastructure to meet the growing needs of enterprises, government agencies, and hyperscalers. Our upcoming Data Centre expansions will significantly enhance our capacity, efficiency, and AI- readiness, allowing us to support high-performance computing, machine learning, and sovereign cloud solutions.

As we look to 2025 and beyond, MEEZA remains dedicated to innovation, operational excellence, and sustainable growth. Our success is a testament to the unwavering commitment of our employees, the trust of our valued clients, and the confidence of our esteemed shareholders.

On behalf of the entire team, I extend my sincere gratitude to our Board of Directors for their guidance, our clients and partners for their continued collaboration, and our shareholders for their ongoing support as we continue shaping the future of Qatar’s digital landscape.