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Abu Dhabi: Ethmar International Holding’s net profit hits Dh445 million

The total assets have increased from Dh77.7 million to more than Dh2.23 billion

Published: Mon 17 Jul 2023, 3:48 PM

Updated: Mon 17 Jul 2023, 6:51 PM

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Abu Dhabi-based Ethmar International Holding (EIH) reported a surge in net profit reaching Dh445 million in the first half of this year, compared to Dh24 million during the same period of 2022, thereby registering an increase of Dh421 million.

The significant profits, the company noted, reflect its continuous efforts to diversify its revenue sources, which will further consolidate its position as a successful holding company.

The total assets of EIH have also increased from Dh77.7 million at the end of 2022 to more than Dh2.23 billion at the end of the first half of 2023. There has been a substantial increase in total equity reaching Dh1.35 billion compared to Dh66.3 million during the same period last year.

“With exceptional and successful positive results in the first half of the year, Ethmar International Holding proudly showcases its strong and resilient business performance across all sectors, further solidifying its position as a key player in the region,” Ali El Gebely, managing director and group chief executive officer, EIH, said.

As a leading holding company, EIH has established and acquired over 30 successful companies in five diversified major sectors, including energy, real estate, investment, technology, and healthcare.

“Committed to providing a thriving and prosperous business environment, EIH aligns its investment strategies with the principles of development, diversity, and governance, adhering to the highest standards and international best practices. Each opportunity pursued by EIH is thoughtfully chosen to create significant value, contribute to the economy, and prioritise the best interests of its esteemed investors. These remarkable achievements underscore EIH’s innovative and visionary approach, setting new industry standards and paving the way for continued success,” El Gebely added.

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