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Abu Dhabi-based holding company Multiply Group, majority-owned by International Holding Company, said it has a strategic growth plan that aims to invest more in cash-generating and transformational businesses through 2023, and to invest in its verticals and Diversify the investment sector.
Its investments span a wide range of industries and include companies such as Emirates Driving Company, PAL Cooling Holding, Omorfia Group, Viola Communications, HealthierU, International Energy Holding, Taqa, Dewa, Savage X Fenty, Firefly and Yieldmo.
The Multiply Group unveiled its plans to further operate and grow its operating verticals while capitalizing on investment gains.
In 2022, the group has a weighted average growth rate of 38.6% across its operating verticals: transportation, energy and utilities, beauty and wellness, and media and communications.
All current streamers are cash-rich, a source of sustainable recurring revenue, and in line with Multiply’s plans for continued organic and inorganic growth, it said.
Multiply Group noted that it is conducting advanced due diligence on several pipeline acquisitions and is working to prepare two verticals for IPO size.
The Abu Dhabi group is exploring entering a new vertical, namely fashion. At the same time, the Group’s investment arm, Multiply+, achieved a particularly strong return on investment.
Samia Bouazza, Group Chief Executive Officer and Managing Director, said: “2022 marks Multiply Group’s first strong year as a public company. We have recorded extraordinary profits, driven mainly by investment gains.”
“Going forward, we will continue to focus on growing and sustaining margins in our core businesses, optimizing the asset-rich balance sheet we have built in 2022, and identifying new investments that create value for shareholders as valuations soften,” he pointed out.
Bouazza said that Multiply’s diversified portfolio has reached a size that is well positioned to advance its strategy of creating value for shareholders in the medium to long term.
“Our focus this year will be more on sustainable organic growth of the business; however, Multiply will continue to explore new investment opportunities in 2023, which will be critical to our growth over the next 12 months as our business matures. Performance has a positive but different impact,” he added.-TradeArabia News Service
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