Amman: Chairman of Jordan Phosphate Mines Company (JPMC), Dr. Mohammad Thneibat, announced that the company's cumulative net profits during the period from 2018 to 2024 amounted to JD2.05 billion. This figure represents 231% of the company's total profits since its establishment in 1954 until 2017, which stood at JD887.8 million.
According to Jordan News Agency, Thneibat highlighted that net profits increased significantly from JD47.6 million in 2018 to JD458 million in 2024, marking an increase of JD411 million. He emphasized the company's successes since 2018, which have contributed to the cumulative support of the sales-based payment-trade balance, reaching JD8.616 billion for the period.
In a dialogue meeting organized by the Amman Group for Future Dialogues, Thneibat noted that the company has successfully recovered from its previous losses due to firm administrative and financial policies, achieving record profits, the highest in the company's history. The total expenditure on income tax and mining fees paid to the Treasury during this period amounted to JD885 million.
Thneibat also indicated that the post-income tax government and Social Security Corporation share of net profits amounted to JD868.5 million over the past seven years. Cash dividends distributed to shareholders surged from JD16.5 million in 2018 to JD396 million in 2024, totaling JD1.171 billion for the period.
In 2022, bonus shares worth 200% of the capital were distributed, increasing the company's capital to JD247.5 million, which then grew to 21.2% in 2024, bringing the capital to JD300 million. Thneibat reported that the mining volume of phosphate ore increased from 8 million tonnes in 2018 to 11.5 million tonnes in 2024, marking an increase of 44%.
Additionally, the mining volume of phosphoric acid jumped from 900,000 tonnes to 1.35 million tonnes in 2024, an increase of 50%, while the mining volume of phosphate fertilizers grew from 747,000 tonnes in 2018 to 1.1 million tonnes in 2024, an increase of 48%. Thneibat remarked that the company's consolidated sales volume increased from JD811 million in 2018 to JD1.437 billion in 2024, reflecting an increase of JD626 million, equivalent to 177% of 2018 sales.