{"id":97992,"date":"2024-11-18T00:00:00","date_gmt":"2024-11-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/julphar-mubadalas-moeve-report-3q-earnings\/"},"modified":"2024-11-18T00:00:00","modified_gmt":"2024-11-18T00:00:00","slug":"julphar-mubadalas-moeve-report-3q-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/","title":{"rendered":"Julphar, Mubadala\u2019s Moeve report 3Q earnings"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">JULPHAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf Pharma Industries (Julphar) narrowed its net losses to AED 5.1 mn in 3Q<\/strong> <strong>2024<\/strong>, compared to a loss AED 40.5 mn during the same period last year, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1526.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The company booked AED 417 mn in revenues from sales, up 14% y-o-y during the quarter. This performance came on the back of double-digit growth across operations in the GCC, which helped offset the impacts of the currency devaluation in Egypt and other challenges in Yemen, Libya, and Sudan, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1617.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis, the company recorded a loss of AED 7.5 mn<\/strong>, after recording a net loss of AED 86.2 mn in the first nine months of 2023. The company saw its revenues increase 6.1% y-o-y, reaching AED 1.3 bn during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MOEVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moeve, the Mubadala-owned Spanish oil player (formerly known as Cepsa), netted EUR<\/strong><strong> 59 mn in losses <\/strong><strong>in 3Q 2024<\/strong>, a reversal from its EUR 278 mn net income in 3Q 2023, driven by shrinking refining margins, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1534.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenue also slid 10% y-o-y to EUR 5.9 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the first nine months of 2024, Moeve reported a net income of EUR 109 mn<\/strong>, bouncing back from a EUR 116 mn loss during the same period in 2023. Nine-month revenue was flat at EUR 19.3 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moeve became fully owned by Mubadala in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e6e6d0c4-39d1-11e0-8dba-00144feabdc0\" style=\"\" rel=\"noopener\">2011<\/a><\/strong> after acquiring all outstanding shares from French energy giant Total. In 2019, Mubadala sold a 37% stake to US investor Carlyle. The Madrid-based firm rebranded as Moeve in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f24d7fed-e46d-49f2-b102-e41c95d219c0\/this-morning:-adgm-proposes-tightened-banking-regs-%2B-ewec-receives-proposals-for-khazna-solar-plant#:~:text=%235%2D%20Mubadala%2Downed,circular%20chemical%20products.\" style=\"\" rel=\"noopener\">October<\/a>, earmarking EUR 8 bn to transition towards sustainable energy and mobility.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mubadala-owned Moeve turned to a loss in 3Q<\/p>\n","protected":false},"author":1,"featured_media":97993,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[1215,237,7,1235,1969,1343],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-cepsa","tag-earnings-watch","tag-enterpriseam-uae","tag-julphar","tag-moeve","tag-mubadala","wpautop","entry"],"acf":{"mongo_id":"93c6d005-3476-4a83-bb75-76bbb4b79b4e","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1210.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Julphar, Mubadala\u2019s Moeve report 3Q earnings","related_issue":[97974],"teaser":"Mubadala-owned Moeve turned to a loss in 3Q","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.9bde256c-8456-4f44-b0c4-7b28148f6be2.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Julphar, Mubadala\u2019s Moeve report 3Q earnings - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Julphar, Mubadala\u2019s Moeve report 3Q earnings\" \/>\n<meta property=\"og:description\" content=\"Mubadala-owned Moeve turned to a loss in 3Q\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-18T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Julphar, Mubadala\u2019s Moeve report 3Q earnings\",\"datePublished\":\"2024-11-18T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/\"},\"wordCount\":257,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Cepsa\",\"EARNINGS WATCH\",\"EnterpriseAM UAE\",\"Julphar\",\"Moeve\",\"Mubadala\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/\",\"name\":\"Julphar, Mubadala\u2019s Moeve report 3Q earnings - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-11-18T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Julphar, Mubadala\u2019s Moeve report 3Q earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Julphar, Mubadala\u2019s Moeve report 3Q earnings - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/","og_locale":"en_US","og_type":"article","og_title":"Julphar, Mubadala\u2019s Moeve report 3Q earnings","og_description":"Mubadala-owned Moeve turned to a loss in 3Q","og_url":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/","og_site_name":"UAE","article_published_time":"2024-11-18T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Julphar, Mubadala\u2019s Moeve report 3Q earnings","datePublished":"2024-11-18T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/"},"wordCount":257,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1","keywords":["Cepsa","EARNINGS WATCH","EnterpriseAM UAE","Julphar","Moeve","Mubadala"],"articleSection":["EARNINGS WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/","url":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/","name":"Julphar, Mubadala\u2019s Moeve report 3Q earnings - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1","datePublished":"2024-11-18T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2024\/11\/18\/julphar-mubadalas-moeve-report-3q-earnings\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Julphar, Mubadala\u2019s Moeve report 3Q earnings"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1210.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/97992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=97992"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/97992\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/97974"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/97993"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=97992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=97992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=97992"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=97992"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=97992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}