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Emirates News Agency – Alpha Dhabi posts AED10.6 billion net profit in 2022

ABU DHABI, 3rd March, 2023 (WAM) — Alpha Dhabi Holding PJSC (Alpha Dhabi or the Group), listed on the Abu Dhabi Securities Exchange (ADX: Alphadhabi), has reported Financial performance, and the numbers are impressive.

In 2022, Alpha Dhabi will achieve a net profit of 10.6 billion dirhams, a 104% increase from 5.2 billion dirhams in the same period last year. This achievement has exceeded the 10 billion dirham net profit guidance provided at the beginning of the year, demonstrating the group’s ability to exceed its target.

There was also a significant increase in revenue, reaching AED 40 billion, up 114% year-on-year. This growth was primarily driven by strong contributions from existing portfolios and new acquisitions, especially in core verticals such as real estate and construction, healthcare and industrials. These industries continue to be the main engines of the Group’s growth.

Commenting on the results, Alpha Dhabi Holding CEO Hamad Al Ameri said: “Alpha Dhabi continues to go from strength to strength as we complete our first year as a public company, which sets the tone for 2022 and ushers in a new phase of Alpha Growth in Dhabi. Our record performance was driven by the successful execution of our growth agenda, which continues to advance at a rapid pace, increasing the scale, diversification and profitable growth of our Group.”

He further added: “Looking ahead to 2023, we are committed to building on the strong deal activity and performance momentum we have achieved in a year of transformation. Our financial strength and accelerated growth are generating significant sustainable value that will position us well in this The year is well-positioned as we continue to strengthen our position as a leading regional investment holding company and a pivotal player in the UAE’s thriving investment and business environment.”

Overall, Alpha Dhabi’s full year 2022 financial results demonstrate the Group’s successful execution of its strategic priorities and its ability to generate attractive returns for shareholders, backed by the strong fundamentals of the UAE economy and markets.

Tariq Farham / Mohammad Amir

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