Amman, May 2025: OFFTEC Holding Group has reported solid financial and operational results for the year 2024, achieving a significant turnaround with net income after tax reaching approximately JOD 1.9 million, compared to the non-cash losses incurred in 2023. Meanwhile, the Group’s operating profit amounted to around JOD 4.2 million, whereas total sales exceeded JOD 36 million.

The announcement was made during the Group’s Annual Ordinary General Assembly Meeting, held virtually via Zoom on Tuesday 29 April, 2025. The meeting was headed by the Group’s Chairman, Marwan Said, and attended by members of the Board of Directors, in addition to Group CEO, Basim Said, Fadia Al-Atoom;  as a representative from the Companies Control Department.

The meeting began with the reading of the minutes from the previous assembly held on 30 April, 2024. This was followed by a presentation of the 2024 Annual Report; the approval of the for the fiscal year ended 31 December, 2024; and the endorsement of the Group’s strategic plan for 2025. During the session, the Group reaffirmed its commitment to delivering value to shareholders by approving the Board’s recommendation to distribute cash dividends totaling JOD 630,000 for the year 2024.

Said commended the Group’s performance in 2024, highlighting its sustained momentum built over more than a century since its founding. He emphasized the Group’s strategic focus on future opportunities, which contributed to the continued expansion and enhancement of its products and services, while maintaining specialization and expertise across key business lines and solutions.

Said further noted that the Group’s strong revenue performance reflects its successful transformation from a specialized trading company into a diversified, tech-driven enterprise with leading capabilities in delivering innovative operational solutions to a broad customer base. He underscored the strength of the Group’s dual business model: business-to-business (B2B) through OFFTEC and WATCO, and business-to-consumer (B2C) through Alwasleh Payment Solutions Company – both of which have contributed to robust growth across business segments and reinforced the Group’s regional presence.

Moreover, Said announced that the Group continued to assert its competitive position in the Jordanian, Iraqi and Palestinian markets throughout 2024. He also revealed the establishment of a new subsidiary - OFFTEC Arabia for Information Technology - in Saudi Arabia in 2024. The newly launched company specializes in IT infrastructure and cybersecurity solutions, exemplifying the Group’s focus on providing advanced solutions that address the evolving needs of customers in an increasingly digital world.

Said added that one of the key milestones of Alwasleh Payment Solutions Company in 2024 was obtaining a license from the Central Bank of Jordan (CBJ) to operate as a Payment Service Provider. This significant achievement highlights the company’s dedication to regulatory compliance, transparency and best practices. The license, granted under CBJ supervision, will enhance regulatory oversight and bolster the company’s credibility and market trust among customers and stakeholders alike.

Said concluded by emphasizing the importance of a forward-looking strategy and agile responsiveness to technological advancements and market trends in cementing OFFTEC Holding Group's position and accelerating its growth trajectory. He also expressed his deep appreciation for the continued trust and support of the Group’s shareholders and reaffirmed the management team’s dedication to creating sustainable value.

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