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ABU DHABI, 5th May, 2023 (WAM) — Alpha Dhabi Holding PJSC (“Alpha Dhabi” or the “Group”), one of the fastest growing investment holding companies in the Middle East and North The listed company (ADX: AlphaDhabi) has announced its financial results for the three months ending March 31, 2023.
Alpha Dhabi posted a string of strong first quarter financial results, with net profit up 161% year-on-year to AED7. Fair Value Earnings Holdings LLC. Revenue also increased significantly, reaching AED 12.8 billion, up 56% year-on-year (Q1 2022: AED 8.2 billion), with contributions from the existing real estate and industrial portfolio continuing to be strong drivers of growth for the Group.
As part of its growth strategy, Alpha Dhabi continues to pursue acquisitions and investments and has announced a partnership with Mubadala to co-invest in global credit opportunities. Alpha Dhabi and Mubadala aim to jointly deploy up to AED9 billion (approximately US$2.5 billion) over the next five years, leveraging Mubadala’s partnership with Apollo (NYSE: APO ), one of the world’s largest alternative asset managers Long-term strategic partnership, access to high-quality private credit investment opportunities.Mubadala will hold an 80% stake in the Abu Dhabi Global Market JV entity, with the remaining 20% ​​held by Alpha Dhabi
The transaction also represents Alpha Dhabi’s entry into the private credit market as it continues to execute its diversification strategy and capitalize on investment opportunities in new markets.
Alpha Dhabi’s portfolio expansion outside the UAE supports growth, with overseas revenue of AED900 million in the first three months of 2023, up 7% year-on-year.
Backed by strong investment activity, Alpha Dhabi’s balance sheet remains strong with total assets of AED120.6 billion, up 129% year-on-year. The group is well-funded with a strong cash position of AED 16.6 billion to support and drive growth and expansion across sectors and geographies. With our strong operating model, financial profile, record of capital deployment and flexible investment approach, Alpha Dhabi remains uniquely positioned to continue to drive further growth and capitalize on investment opportunities, while creating value for shareholders in the short and long term.
Hamad Al Ameri, Chief Executive Officer of Alpha Dhabi Holding, said: “Alpha Dhabi has delivered another string of excellent financial results as we continue to strengthen our position as a leading regional investment holding company. Positive market sentiment in 2019 was underpinned by strong economic fundamentals and a buoyant capital market landscape that contrasted sharply with the global outlook.”
“We are off to a strong start to the year, with results from our diversified portfolio continuing last year’s momentum. Looking ahead, we will continue to grow our core verticals organically and through additional investments and acquisitions. We will continue to invest in value-add opportunities deploy capital efficiently in order to support the market leadership of our portfolio companies.”
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