Today's Edition
ABU DHABI (WAM)
Alpha Dhabi Holding PJSC has reported its highest full year revenue to date of Dh63.4 billion, a 40 per cent YoY increase for the period ending December 31, 2024.
The surge in revenue reflects a consistent track record of growth by Alpha Dhabi since its IPO in 2021, which has largely been underpinned by strategic value accretive investments into high-growth sectors.
Net profit for the full year stood at Dh13.5 billion from Dh13.3 billion for the same period in 2023, reflecting the Group's strategic implementation across key verticals and its unwavering commitment to generating enhanced shareholder value.
The strong set of financial results, reflected by net profit from operations reaching Dh10.0 billion from Dh5.5 billion, a 82 per cent YOY increase, continue to demonstrate the holding company's commitment to generating enhanced shareholder value.
Net profit from operations excludes one-off adjustments resulting from changes in fair value of investments or a change in the accounting treatment of one of its portfolio companies.
The Group's revenue came from key contributions across various business divisions, comprising Dh26.3 billion from Industrial, Dh18.1 billion, from Real Estate, Dh11.8 billion from Construction, Dh7.2 billion from Services & Others.
Alpha Dhabi has also reinforced its balance sheet with total assets standing at Dh177.5 billion, a 26 per cent increase YoY, while the company's cash balance as of the year ending December 2024 was Dh28.8 billion. Total equity was at Dh92.3 billion, underscoring the depth and agility of its financial position.
In 2024, Alpha Dhabi’s board approved its first dividend, valued at Dh2 billion, with shareholders receiving dividends of Dh2 fils a share.
Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of Alpha Dhabi Holding, said, “2024 was a blockbuster year for Alpha Dhabi marked by deep, transformational growth across dynamic industries and markets. Across the year, we demonstrated the power of hard work, careful strategic planning, and decisive action, which have delivered many accomplishments to be proud of.
"We're increasingly confident that our investments in high-growth sectors will bring long-term value for our shareholders, setting the tone for many more successful years to come.”
Hamad Al Ameri, Managing Director and Group Chief Executive Officer of Alpha Dhabi Holding, said, “Our financial performance across 2024, including our net profit increase and record-breaking revenue growth represents years of preparedness and persistence where we've had the courage to be ambitious and we've been assertive in our actions."
