• Home
• /
• Business

Alpha Dhabi net profit soars 29% in third quarter

Revenue gains 22% to Dh32.4 billion during the period

Alpha Dhabi Holding PJSC, one of the fastest-growing investment holding companies in the Mena region, on Thursday reported a 29 per cent year-on-year increase in third quarter net profit, surging to Dh11.6 billion, as compared to Dh9 billion in the same period in 2022.

“This growth is attributed to a combination of organic expansion and strategic acquisitions, underscoring the Group’s commitment to enhancing shareholder value,” the company said in a statement.

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

Alpha Dhabi’s diversified portfolio has been a major driver behind the growth in revenue. The Group has continued to expand its portfolio and invest in strategic sectors including hospitality and energy, as well as launching a climate capital platform. In addition, the group has invested in to financial ventures spanning different geographies, including the MICAD Credit JV in collaboration with Mubadala and Alpha Wave Ventures.

The Group’s financial position remains strong, boasting total assets of Dh133.6 billion and a cash position of Dh19.1 billion as of September 30, 2023 — owing to the strategic acquisitions and investments made since 2022 and notable performance seen across all segments during the period.

Through the rest of 2023, Alpha Dhabi is strategically poised to foster further growth and capture investment opportunities by incorporating new operating assets through acquisitions and geographical diversification, all the while enforcing a rigorous and exemplary corporate governance structure across the ADH portfolio of businesses.

Eng. Hamad Al Ameri, CEO of Alpha Dhabi Holding, said: “Alpha Dhabi’s milestone of Dh11.6 billion in net profit for YTD September 2023 testifies to a remarkable journey of growth. Our success stems from a multifaceted strategy and we attribute this achievement to the synergy of a diversified portfolio that spans vital sectors, an unwavering commitment to best-in-class corporate governance, and the exceptional performance delivered by our dedicated colleagues and business leaders. This synergy has empowered us to unlock the true potential of our investments and deliver substantial value to our shareholders.

As we navigate the remainder of the year, our focus is on harnessing the significant momentum we have built and strategically driving further growth while seizing exciting investment opportunities. Our strategy revolves around expanding our portfolio through acquisitions and geographic diversification, with the overarching goal of extending our global footprint within the investment landscape.”