Alpha Dhabi Achieves AED 11.1 Billion Net Profit In Nine-Month Financial Report

Alpha Dhabi Holding has reported a group net profit of AED11.1 billion for the nine months ending 30th September 2024. This represents a significant increase in operating net profit, reaching AED7.5 billion, which is an 83% rise compared to the same period last year. This growth underscores the company's active engagement across its main business sectors.

The company’s revenue reached AED44.2 billion, marking a 36% increase from the previous year. Contributions came from various divisions: Industrial at AED18.5 billion, Real Estate at AED13.2 billion, Construction at AED7.6 billion, and Services & Others at AED4.9 billion. These figures highlight the diverse sources of Alpha Dhabi's income.

Alpha Dhabi's financial strength is evident with total assets amounting to AED170.4 billion, reflecting a 21% year-on-year increase. The cash balance stands at AED23.9 billion, while total equity is valued at AED93 billion. These figures demonstrate the company's robust financial position and strategic agility.

The impressive financial results are attributed to strategic acquisitions and investments made since 2022. These moves have significantly contributed to growth across various sectors, aligning with Alpha Dhabi's commitment to enhancing shareholder value through strategic implementation in key verticals.

Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of Alpha Dhabi Holding, remarked on the company's progress: "2024 has been a year of action for Alpha Dhabi where we've made significant leaps forward as an organisation across key areas." His statement reflects the company's dedication to maintaining its growth momentum.

Al Rumaithi further stated that their strong financial performance this quarter defines their relentless growth pace. He emphasised that strategic decisions in recent years, including investments and acquisitions, continue to yield positive results and impact their performance positively.

As Alpha Dhabi looks ahead to the rest of the year, it aims to sustain its current momentum by maximising both new and existing growth opportunities. The company remains focused on pushing forward with its strategic initiatives to achieve continued success in its business endeavours.

Alpha Dhabi's achievements in 2024 highlight its effective strategy and commitment to growth across multiple sectors. The company’s focus on strategic investments and acquisitions has played a crucial role in shaping its financial success and positioning it for future expansion within key markets.

With inputs from WAM