Connect with us

Business Insights

Alpha Dhabi Holding Reports 29% Increase in Q3 Net Profit

Alpha Dhabi Holding PJSC reported a 29% year on year growth in net profit for the third quarter.

Alpha Dhabi Holding PJSC, one of the fastest-growing investment-bearing companies in the MENA region, has announced a substantial 29% year-on-year increase in net profit for the third quarter. 

Net profit surged to Dh11.6 billion, compared to Dh9 billion in the same period in 2022.

Driven by Organic Expansion and Strategic Acquisitions:

The remarkable growth is attributed to a combination of organic expansion and strategic acquisitions, emphasizing the group’s dedication to enhancing shareholder value.

Alpha Dhabi also witnessed a surge in revenue, reaching Dh32.4 billion, reflecting a significant 22% year-on-year increase compared to the same period last year (YTD 2022: Dh26.6 billion).

Diversified Portfolio Driving Growth:

Alpha Dhabi’s diversified portfolio has been a key driver of revenue growth. 

The group has continued to expand its portfolio and invest in strategic sectors, including hospitality and energy while launching a climate capital platform. 

Additionally, the group has invested in financial ventures across different geographies, such as the MICAD Credit JV in collaboration with Mubadala and Alpha Wave Ventures.

Strong Financial Position:

The group’s financial position remains robust, with total assets of Dh133.6 billion and a cash position of Dh19.1 billion as of September 30, 2023. 

These figures are a result of strategic acquisitions and investments made since 2022, combined with notable performance across all segments during the period.

Focused on Future Growth:

Alpha Dhabi is strategically positioned to foster further growth and seize investment opportunities throughout the remainder of 2023. 

This includes the incorporation of new operating assets through acquisitions and geographical diversification, all while upholding rigorous and exemplary corporate governance standards across the ADH portfolio of businesses.

CEO’s Perspective:

Eng. Hamad Al Ameri, CEO of Alpha Dhabi Holding, expressed his satisfaction with the company’s remarkable journey of growth. 

He attributed the achievement to a multifaceted strategy, a diversified portfolio, a commitment to corporate governance, and the exceptional performance of dedicated colleagues and business leaders. 

The focus for the future is on harnessing momentum and strategically driving further growth while seizing exciting investment opportunities.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending