Multiply Group Achieves Impressive 15% Year-on-Year EBITDA Growth For Full Year 2024

Multiply Group, an investment holding company based in Abu Dhabi, has announced its financial results for 2024. The company reported a net profit of AED 1.04 billion, excluding fair value changes. This achievement reflects a strong operational performance with a 15% increase in EBITDA, reaching AED 1.9 billion. The growth was driven by strategic acquisitions and enhanced operational efficiencies.

In 2024, Multiply Group completed three acquisitions, contributing to its robust performance. These acquisitions were part of the company's strategy to build expertise in specific sectors. Organic growth also played a significant role, with new revenue streams boosting overall performance despite market volatility affecting reported net profits.

The group's revenue increased by 56% compared to the previous year, surpassing AED 2 billion. This surge was supported by organic growth across all sectors and the full-year impact of Media 247, acquired in July 2023. Additionally, the integration of BackLite Media, The Grooming Company Holding, and Excellence Premier Investment contributed significantly.

Multiply Group maintains a strong balance sheet with over AED 2 billion in cash and equivalents. This financial strength allows for potential investments up to AED 4 billion for future expansion. In line with its strategy, the group invested around AED 1 billion in acquisitions that enhance its position within key sectors.

The company's gross profit margin remained healthy at 47%. This reflects changes in the revenue mix within the Media sector and the consolidation of Excellence Premier Investment under the Mobility sector. Investment income, including dividends, added over AED 1 billion to the bottom line.

Focus on Digital Transformation

Multiply Group continues to focus on integrating businesses within each sector to drive synergies. Emphasis is placed on accelerating digital transformation and improving operational efficiencies across its core portfolio. This approach aims to strengthen the group's competitive edge and support sustainable growth.

The company's disciplined capital allocation strategy underpins its strong financial position. By strategically deploying resources into key areas, Multiply Group aims to maintain its growth trajectory while adapting to market changes effectively.

Multiply Group's strategic initiatives and financial discipline have positioned it well for continued success. With a focus on building sector expertise and enhancing operational efficiencies, the company is poised for further growth in the coming years.

With inputs from WAM