Abu Dhabi: Alpha Dhabi Holding has announced a group net profit of AED11.1 billion for the nine-month period ending 30th September 2024. Operating net profit of AED7.5 billion represents an 83% increase from the same period last year and highlights the pace of activities which Alpha Dhabi has embarked upon across key business areas.
According to Emirates News Agency, the strong set of financial results continues to reflect the holding company’s strategic implementation across key verticals and its commitment to generating enhanced shareholder value. Of equal significance, the growth experienced across sectors is a direct result of strategic acquisitions and investments made since 2022. The Group posted revenue of AED44.2 billion, an increase of 36% year-on-year (YoY), with key contributions coming from various business divisions, comprising AED18.5 billion from Industrial, AED13.2 billion from Real Estate, AED7.6 billion from Construction, and AED4.9 billion from Services and Others.
Alpha Dhabi has also bo
lstered its balance with total assets at AED170.4 billion, a 21% increase YoY, while the company’s cash balance was at AED23.9 billion. Total equity was at AED93 billion underscoring the depth and agility of its financial position. Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of Alpha Dhabi Holding, commented on the company’s performance, stating that 2024 has been a year of action for Alpha Dhabi, marked by significant progress across key areas. The robust financial performance, with group net profit soaring to AED11.1 billion, illustrates the relentless pace of growth.
Al Rumaithi further noted that their performance has been shaped by strategic decisions made in recent years, such as investments and acquisitions, which continue to deliver impact. As the company focuses on the remainder of the year, they aim to continue pushing forward with their current momentum to maximise new and existing areas of growth.