Doha [Qatar], April 22: Gulf Warehousing Company (GWC Group), one of the region's leading providers of integrated and cross-border logistics solutions, has announced its financial results for the first quarter ended March 31, 2026, following a board of directors meeting held on April 21, 2026. The meeting was chaired by GWC Chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani.
During the first quarter of 2026, GWC Group recorded gross revenues of QR318 million and a net profit of QR33.7 million, reflecting the successful execution of its operating plan. The Group reported that January and February performed above expectations, with profits exceeding planned targets, before the onset of regional disruptions in March. Earnings per share for the quarter stood at QR0.058, demonstrating the company's ability to maintain shareholder value despite a challenging external environment.
The month of March proved particularly difficult for the regional logistics sector, as geopolitical developments triggered significant disruptions across key transport routes. Vessel traffic through the Strait of Hormuz declined by 86 percent, while no large carriers called at Hamad Port during the period.
At the same time, Qatar's airspace was temporarily suspended between February 28 and March 4, eliminating more than 3,000 tonnes of daily air freight capacity. Offshore oil and gas operations were also halted, collectively resulting in one of the most severe supply chain disruptions experienced in the GCC in recent years.
Despite these challenges, GWC Group responded with agility and determination, ensuring the continuity of supply chains while prioritizing the safety of its workforce and maintaining commitments to its customers.
In close coordination with the Qatar Government, the Group established a dedicated sea corridor into the GCC to safeguard strategic food supplies. Goods were routed through its warehousing facilities in Oman and Jeddah before being distributed to Qatar, the United Arab Emirates, Bahrain, and Saudi Arabia.
In parallel, the company activated an air-land corridor via Riyadh, linking air freight with its bonded cross-border land transport network to facilitate the movement of essential cargo into Qatar.
Additionally, for the first time, GWC operationalised a fully TIR-powered air-to-land corridor at Hamad International Airport, enabling Doha to function as a regional redistribution hub serving all five GCC markets. These swift and coordinated measures underscored the Group's operational strength and its ability to deploy integrated logistics solutions underpressure.
GWC Chairman Sheikh Mohammed bin Hamad bin Jassim bin Jaber Al Thani praised the organization's response, highlighting its long-standing commitment to reliability and responsibility during critical moments. He expressed pride in the workforce, whose efforts ensured that essential goods continued to flow across theregion.
GWC Managing Director Sheikh Abdulla bin Fahad bin Jassim bin Jaber Al Thani emphasized the importance of collaboration with the Qatar Government in securing supply chains, noting that the rapid establishment of alternative sea, land, and air routes reinforced market stability and resilience.
GWC Chief Executive Officer Matthew Kearns stated that the quarter demonstrated GWC Group's ability to mobilise its full capabilities in real time, successfully activating multiple logistics corridors while leveraging its regional infrastructure, including warehousing assets in Oman and Jeddah and its bonded land transport network through Saudi Arabia. He added that the company maintained its strong safety record and upheld customer commitments throughout the disruption.
GWC Group also continued to advance its regional expansion strategy, with a particular focus on Saudi Arabia. Its facility in Jeddah is already supporting operations, while additional leasing opportunities are being pursued in Riyadh and Dammam. The Group is also evaluating longer-term expansion plans aligned with client demand. Over the past two years, GWC's international divisions have more than doubled their contribution to net revenues, reflecting the success of its regional growth strategy.
With a robust and diversified logistics platform, GWC Group handles more than 2 million tonnes of freight annually and operates a fleet of over 1,600 specialized vehicles across a network of 20 strategic locations in the GCC. The company manages ocean freight volumes of up to 60,000 TEUs per year and air freight of up to 14,000 tonnes annually, while extending its global reach to more than 120 countries through a network of over 550 partner offices. These capabilities have enabled the Group to maintain a strong client retention rate of 95 percent and an average logistics park occupancy of 90 percent across its facilities during the first quarter.
Overall, GWC Group's performance in Q1 2026 highlights its resilience, adaptability, and strategic foresight. By swiftly responding to unprecedented disruptions and reinforcing supply chain continuity across the region, the company has reaffirmed its position as a critical logistics partner for Qatar and the wider GCC, while continuing to build a strong foundation for future growth.
Source: Qatar Tribune