ESG Emirates Stallions Group Achieves AED 1.2 Billion Revenue In 2024 With Significant Growth

ESG Emirates Stallions Group, a major player in the Workforce Solutions, Construction, and Real Estate sectors, has reported its financial results for 2024. The group's revenue soared by 109% from AED609.36 million in 2023 to AED1,273.48 million. This growth highlights the group's strong performance across its core business areas.

In 2024, ESG's financial success was propelled by effective operations and strategic investments. Gross profit saw a significant increase of 160%, reaching AED436.32 million compared to AED167.6 million the previous year. This improvement reflects better operational efficiencies and cost management strategies.

The group pursued sustainable growth and regional expansion throughout 2024. A key part of this strategy was maintaining a robust M&A pipeline that strengthened its market presence and diversified its portfolio. Notably, ESG acquired additional stakes in Vision Furniture & Decoration Factory and Decovision, leaders in interior decoration and luxury furniture manufacturing.

Additionally, ESG acquired Sawaeed Holding, a prominent company in manpower solutions and employee accommodation services. These acquisitions have played a crucial role in enhancing ESG's market position and expanding its service offerings.

Matar Suhail Ali Al Yabhouni Aldhaheri, Chairman of ESG, stated: "2024 has been a pivotal year for ESG, marked by outstanding financial achievements and strategic progress. These results underscore the resilience of our business model and our commitment to driving growth, innovation, and sustainability. We are proud to play a leading role in driving growth and resilience across our sectors, positioning ESG as a key contributor to the UAE’s long-term economic success."

Kayed Ali Khorma, CEO of ESG, added: "We are proud to report another year of strong financial performance, driven by the dedication of our team and our strategic approach to sustainable growth. Our results for 2024 underscore ESG’s resilience and adaptability in a dynamic market environment. We remain focused on delivering exceptional value to our shareholders, clients, and communities as we continue to execute our growth strategy."

Operational Profit Growth

The operational profit before tax also witnessed an impressive rise of 75%, amounting to AED228.86 million compared to AED131.02 million in 2023. This increase is attributed to enhanced operational efficiencies that have been implemented throughout the year.

The group's commitment to sustainable growth strategies has been evident through these financial achievements. By focusing on regional expansion and strategic acquisitions, ESG continues to strengthen its position within the industry while contributing significantly to the UAE's economic landscape.

With inputs from WAM