Nama Group revenue climbs 21.1% to RO 1.8bn in 2022

Muscat: Nama Group is currently working on raising the efficiency of the system and the performance of its subsidiaries to save costs by employing modern technologies and renewable energy sources and improving the services provided to subscribers.

By the end of 2022, the group achieved a significant increase in its pre-tax profits to reach RO 139.8 million, and the group’s total operating revenues increased by 21.2 percent to reach RO 1.8 billion by the end of 2022.

The group confirmed that its restructuring step in line with the directives of the Oman Investment Authority came to achieve a number of goals, including financial sustainability, achieving cost savings and increasing the efficiency of the supply chain, as the group restructured the debts of its subsidiaries to ensure they have sustainable financing structures for future requirements. It also pointed out that unifying all services related to electricity distribution contributed to enhancing efficiency and increasing the number of subscribers and sales, which was reflected in the size of the group’s assets, which exceeds two billion Omani riyals.

Nama Group explained that it is implementing a series of initiatives related to green energy and sustainability, and has issued a number of tenders for renewable energy projects, and it is expected that these stations will generate approximately 1,000 megawatts during the next three years.

The group seeks to adopt various digital technologies to ensure enhanced subscribers’ experience, as digital transformation initiatives contribute to enhancing meter reading systems, improving collection services, and serving subscribers effectively as part of keeping pace with the latest technical developments.

It is noteworthy that the group merged 4 distribution and supply companies into two companies in order to be able to combine resources, benefit from unified contracts, save its operating expenses and increase its revenues, with a focus on improving the efficiency and quality of its basic operational processes.

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.