AbuDhabiPR.com, Online Press Release from Abu Dhabi and Al Ain
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Alpha Dhabi Reports AED 2.84 Billion in Q1 2022 Net Profit amid Ramp up of Investment Activity
 
Alpha Dhabi Reports AED 2.84 Billion in Q1 2022 Net Profit amid Ramp up of Investment Activity
  • Strong Q1 2022 performance with record revenue of AED 8.17 billion, representing a year-on-year increase of 700% 
  • Continued growth in assets with total assets reaching AED 52.56 billion as at the end of Q1 2022

 

Abu Dhabi, UAE - 11 May 2022: Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Company”), one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: ADH), has announced its financial results for the first quarter of 2022.

 

This announcement marks the first set of Q1 results for Alpha Dhabi since its successful direct listing on ADX in June 2021 and transformation into one of the largest investment holding companies in the UAE. As a result of this, the comparable figures for Q1 2021 relate to the last reported period prior to the Company’s transformational change and listing.

 

Alpha Dhabi continued to build on the momentum garnered towards the end of 2021 and reported another excellent set of financial results for Q1 2022 with net profit of AED 2.84 billion, up significantly year-on-year from AED 100 million. Moreover, revenues stood at AED 8.17 billion for the first three months of 2022, representing a year-on-year increase of 700% with strong contributions from investments in the healthcare sector, which continue to see strong demand, and from the real estate, construction and industrial verticals which continue to be drivers of growth for the Company.

 

As part of Alpha Dhabi’s ramp up and execution on its growth and expansion plans, the Company continued to add scale across its sizeable portfolio with notable acquisitions and investments made totalling AED 5.21 billion and contributing to asset growth over the quarter, with the Company reaching AED 52.56 billion in total assets, up from AED 47.35 billion as at the end of 2021.

 

Key strategic investments and acquisitions made over the quarter include the 75% acquisition of W Solar LLC, a clean and renewable energy business, which added further diversification to Alpha Dhabi’s portfolio and added weight to Alpha Dhabi’s ESG credentials and commitment. Alpha Dhabi also made two acquisitions to bolster its healthcare vertical, which continues to perform strongly, with the 70.8% acquisition of the Yas Clinic Group and 70.8% acquisition of Tamouh Healthcare. The Company also diversified further through its AED 847 million investment in a joint venture to establish WIO Bank PJSC which will launch a new digital banking platform in the UAE.

 

Backed by a measured investment approach, an active investment pipeline and an agile investment team, the Company will continue to deploy capital effectively and look at businesses and investments that have established operations, are profitable and are value-accretive to Alpha Dhabi’s portfolio while also pursuing scale and diversification through further acquisitions and business combinations.

 

Alpha Dhabi’s balance sheet remains robust, well-funded including a strong cash position of AED 5.81 billion to support and drive the execution of the Company’s growth and expansion across both sectors and geographies. Our diversified business and investment portfolio, strong financial performance, solid balance sheet fundamentals, and capital available to deploy position us well to deliver on our aspirations from a strategic, financial, and growth perspective through 2022 and beyond.

 

Eng. Hamad Al Ameri, CEO of Alpha Dhabi Holding, said: 'Alpha Dhabi’s robust performance over Q1 2022 represents a strong business that is growing and transforming at pace. We not only delivered an excellent set of financial results, but also invested in diversifying and adding scale to our business with strategic acquisitions and investments. Looking ahead, our growth will be underpinned by deploying capital effectively in strategic investments, including through further acquisitions and business combinations in our core and target sectors and geographies as we look to continue generating and creating significant value for our shareholders.”

 

Posted by : Abu Dhabi and Al Ain PR Network Editorial Team
Viewed 107 times
PR Category : Banking & Investments
Posted on : Wednesday, May 11, 2022  11:04:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AbuDhabiPR.com.
Next Story : Al Rajhi Bank Jordan opts for ICS BANKS Business Suite from ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Pandora Introduces New Charm in Support of Unicef to Help Young Minds Shine Bright [7250-Views]
CH Carolina Herrera's Ramadan 2022 Collection [6943-Views]
ADNOC Distribution Shareholders Approve H2 2021 Dividend at Annual General Assembly Meeting [6675-Views]
Introducing Seasonal Pieces from Pandora for Ramadan and Eid Al Fitr [6369-Views]
Royal Oak 50 Years of Innovation [6257-Views]
Max Factor X Priyanka Chopra Jonas - NEW FLE XXL Mascara [6247-Views]
LG Releases Preliminary Earnings for First-Quarter 2022 [5857-Views]
KENZO Releases Third Limited-Edition Drop for Spring-Summer 2022 un-der Artistic Director Nigo [5710-Views]
6 Arab Countries Achieve 60% of the UN SDGs [5343-Views]
The World's Tallest Stack of M&M's® just got higher [5310-Views]
Testing the All-New Taurus: Ford's Best-Selling Nameplate in the Middle East for Past Five Years Pro... [5004-Views]
No Rain and No Resources; Millions of Families across the Horn of Africa Pushed Closer to Catastroph... [4839-Views]
Food and Oil Price Hikes Drive up Costs for Cash-Strapped WFP Operations in West Africa as Region Fa... [4683-Views]
Over 2000 Little Hearts from British Orchard Nursery Donate 1000kgs of Rice! [4539-Views]
Sony World Photography Awards announces OVERALL WINNERS 2022 [4456-Views]
How to Look Younger 101 with Foreo [4396-Views]
Hisense debuts Laser TV L9G at the FIFA World Cup Qatar 2022TM Final Match Draw; Offering a Glimpse ... [4222-Views]
Ford Middle East Recognizes Distributor Partners for Outstanding Performance in Improving the Custom... [3841-Views]
Stay Radiant during Ramadan with Foreo [3826-Views]
Take Your Morning Skincare Routine to the Next Level with Foreo [3737-Views]
 
RSS Facebook Twitter LinkedDin AbuDhabiPR.com on Instagram
 
Top Sections
 
Top Stories