Today's Edition
ABU DHABI (ALETIHAD)
The Board of Directors of E7 Group has proposed a maiden dividend of Dh 147.1 million, which translates to 7.36 fils per share, as the company announced its audited financial results for the 2024 financial year.
The proposed dividend, which is the first ever by the Group, represents 70% of the annual distributable net profit, reflecting the company’s commitment to delivering value to its shareholders.
E7 Group is recognised for its excellence in identity solutions and delivering quality solutions for tangible brand presence through its integrated products and solutions.
The Group operates across four business segments: e7 Security, e7 Printing, e7 Packaging, and Logistics and Distribution services through Tawzea.
E7 Group's financial results for 2024 demonstrate strong growth. The Group reported a revenue of Dh701.2 million, an 11.0% increase compared to the previous year. This growth was supported by a strong fourth quarter, during which revenue reached Dh209.5 million, a 24.4% year-on-year increase.
The Group also reported EBITDA of Dh190.6 million, up 11.6% year-on-year, and net profit before tax of Dh256.7 million, a substantial increase of 602.2% compared to the prior year. Earnings per share increased to 12 fils, a significant improvement from a loss of 6 fils per share in the previous year. The loss was reported in 2023 due to the one-off non-cash expense associated with e7's listing on the Abu Dhabi Securities Exchange (ADX) in 2023.
Ahmed Al Shamsi, Chairman of e7 Group, stated, "E7 Group's performance throughout 2024 is indicative of the continued momentum across the Group's business segments. Over the past year, we have continued to strengthen our portfolio of long-term client contracts, securing over Dh120 million worth of new contracts whilst making good progress on our strategic growth priorities across all business segments."
Esteban Gómez Nadal, Group Chief Executive Officer of e7 Group, commented, "E7's performance in 2024 highlights our ongoing commitment to addressing the evolving demands of our diverse customer base whilst expanding our market share across our core products. Our strong results in 2024, which saw revenue growth of 11.0% and EBITDA growth of 11.6% year-on-year, reflect a robust performance across all our business segments. Our strategic investments in new solutions and customer engagement continue to demonstrate value, enabling us to capitalise on opportunities across our key markets."
