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Alpha Dhabi Holding, one of the fastest-growing investment holding companies in the UAE, posted a record net profit of AED 7.9 billion ($2.15 billion) in the first half of 2022, up sharply from AED 1.7 billion in the same period last year.
The group’s revenue delivered positive contributions across its verticals and year-over-year growth across industries.
On a half-year basis, the group continued to demonstrate its business model, operating structure and ability to execute growth strategies, with revenue of AED 17.1 billion, up from AED 5.5 billion in the prior year period. Alpha Dhabi is also starting to see the benefits of its expansion outside the UAE, with overseas revenue of AED2.1 billion as of June 30, 2022, a year-on-year increase of 514%, the company said.
In April 2022, Alpha Dhabi increased its stake in Aldar Properties, strengthening its position as a long-term strategic shareholder and a strong believer in Aldar’s growth potential and strategy. As a result, Alpha Dhabi was able to appoint a majority of Aldar’s board of directors, making it Aldar’s parent company.
Accordingly, Alpha Dhabi’s financial statements include the performance and financial position of Aldar as a subsidiary from the date of acquisition. The company said the integration transformed Alpha Dhabi’s financials and added significant potential and growth opportunities to its already massive platform.
The announcement is the first full year following Alpha Dhabi’s successful direct listing on ADX in June 2021 and its transformation into one of the largest investment holding companies in the UAE. In the first half of 2022, Alpha Dhabi increased its deal activity on the back of its strong momentum and performance across its core verticals strategically and financially since its ADX listing.
Over the past 12 months, Alpha Dhabi has continued to scale, diversify, balance its growing portfolio and deploy capital efficiently through organic growth as well as strategic investments and acquisitions. These growth moves, as well as the impact of integrating Aldar, have resulted in a significant increase in Alpha Dhabi’s total assets, from AED47.3 billion at the end of 2021 to AED101.3 billion in the first half of 2022, providing the group with a A solid platform and scale to drive its growth ambitions.
“As such, Alpha Dhabi is well-capitalized and well-funded with a strong cash position of AED 16.6 billion to continue to execute transactions and deploy capital as it expands across its industries and key regions. In line with the clear investment mandate of Alpha Dhabi and The ability to have a flexible investment approach, remains well-positioned to achieve its financial and strategic goals in 2022 and beyond,” it said.
Eng Hamad Al Ameri, CEO of Alpha Dhabi Holding, said: “Alpha Dhabi has reported a series of record results with a net profit of nearly AED8 billion, which demonstrates its resilience and the diversified nature of our platform. We have witnessed growth and strong contributions from all of our verticals. Our strong financial and investment performance also represents a transformative year for us, laying a solid foundation for us to build and drive further value development.
“As our platform continues to grow, we will continue to actively seek and pursue investment opportunities that meet our financial and return thresholds. We are also looking for investments with strategic elements that we can leverage our platform, operating subsidiaries and scale to drive further Growth. We will also realize synergies and create significant value for shareholders as we continue to scale,” he said. arab trade news agency
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