Ducab Group, one of the largest end-to-end energy solutions providers and industrial manufacturers in the UAE, has seen significant growth in its business segments in 2022, with total annual revenue up 19% year-on-year. Metals alone achieved over 23% year-over-year growth, followed by cables with over 9% growth.
The Ducab Group’s 2022 financial results show that despite lingering challenges from the pandemic year and new threats to certain international markets and the global economy, the group’s EBITDA will grow by more than 8%, and amortization (EBITDA). The group posted a total annual revenue of US$1.8 billion (AED6.6 billion).
In addition, the profit of Dukab Metal Business (DMB), one of the Dukab Group’s main business units, will triple compared to 2021, thanks to higher turnover in its aluminum business. DMB produces copper and aluminum rods and conductors used in the manufacture of wire, cable, high voltage lines and overhead conductors.
“The Ducab Group’s financial performance reflects our growing business and expanding market network and globally influential partners,” asserted Khalid Lootah, Chairman of the Ducab Group.
“We remain committed to expanding our footprint to new key markets around the world. Our products – all manufactured in the UAE – are now exported to 55 countries. Billion Action – part of an effort that, in turn, will help position the UAE as an innovative and globally competitive manufacturing hub.”
“Similarly, the Ducab Group recently announced the opening of a new headquarters in the Indian city of Bangalore, making India a new home market for the group,” continues Lootah.
“This expansion is in line with our vision to be a global premium integrated energy solutions provider, and also in line with our strategy to expand and consolidate our business in the global industrial sector.” — trade arab news agency